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María Albarral
Marbella
Monday, 30 December 2024, 20:37
More and more towns and cities in Spain are taking measures to curb the proliferation of holiday lets, including Malaga city. Marbella is the fourth in Spain after Madrid, Barcelona and Malaga in terms of the number of these properties, with a total of 6,994.
For this reason, a few months ago Marbella town hall commissioned a study by the University of Malaga (UMA) to draw up the current situation. The mayor of Marbella, Ángeles Muñoz, has recently stated that the town hall has received the analysis which will be broken down in January in order to implement appropriate measures.
The mayor explained that "from there, the appropriate considerations will be made within the regulations" and she does not rule out "new taxes for greater use of the services of the town itself" as well as coupling this regularisation "in the new general plan that is being drafted".
Regarding the economic activity generated by these holiday lets, the mayor has spoken out on several occasions saying, "These visitors account for eight per cent of the sector's income in the town".
As far as quantitative data is concerned, a recent report by the Bank of Spain shows that 70% of the flats for rent in the centre of Marbella are for holiday use, which means that only three out of every 10 properties are for long term rental.
Singularity
Although this is a common scenario in Spain's major tourist towns and cities, Marbella town hall argues that the town has a unique character that differentiates it from other places. "What is happening in other places with the phenomenon of holiday homes, we have been experiencing it in Marbella for years, but not through platforms, but through real estate agencies or directly with the owners," explained Muñoz, who added that "the town has a very large foreign population, whose period of residence coincides with the months of September to May, making it possible for them to rent out their homes during the high season and go to their countries of origin in summer, where temperatures are milder.
The price of rental properties in Marbella has risen by almost 65% in the last five years, according to data provided by the property website Idealista. While the average rent for an 80-square-metre flat in 2019 was 864 euros per month, currently the same property reaches 1,424 euros. This economic problem is compounded by the lack of flats available for long term rentals, as many of the owners opt for holiday rentals for tourists.
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