This summer the cost of holiday rentals in Marbella has remained the same as last year, in the luxury sector as well as for standard properties. The town has not been affected by the fierce price war which has affected other tourist areas of the province, where the cost of holiday rentals has dropped by up to 20 per cent compared with the summer of 2012.
Estate agents in the Marbella area confirm that prices have remained at the same level, although they point out that the demand differs according to the target market. The most fortunate property owners are those who attract clients from Eastern Europe. Travellers who come from Russia, Ukraine, Kazakhstan and other countries from the former Soviet Union are the most popular this year because they rent the most attractive properties. In fact, they are able to pay an average of between 3,000 and 5,000 euros per week for a villa.
Spanish clients, on the other hand, are very cautious about the price they pay for a holiday rental. The average price a Spanish family is willing to pay, normally for a fortnight, is about 2,000 euros. This is a similar figure to that of last year.
The clients have a long list of demands: the property must be on the sea front, newly built and luxurious and these are non-negotiable conditions.
Estate agents who work in this market say that new clients are coming to Marbella because it has been recommended by friends or other people. They tend to plan ahead, and as a general rule they book as early as the beginning of the year to make sure they find a property which meets their requirements.
The good rental season is closely linked to the arrival of the Arabs. This year it will not be until after Ramadan, in the first week of August, that these travellers, with their well-known love of ostentation arrive. These clients will pay on average between 30,000 and 50,000 euros per month without blinking an eyelid, while European travellers are likely to pay between 10,000 and 20,000 euros for a month’s rental.
A swiming pool and garden feature on the list of requirements of the clients who pay the highest prices and who tend to choose a property which is at least 500 m2 in size.