An increasing number of foreign visitors are choosing to rent a holiday home over hotels, drawn by the greater freedom, privacy, and flexibility. This trend has now extended to the renowned Golden Triangle on the Costa del Sol.
According to a study by the real estate agency Pure Living Properties, luxury holiday rentals in the Marbella, Estepona, and Benahavis have surged by 30% between January and August. Over these eight months, the company recorded 320 rental bookings, an increase of 76 compared to the same period last year. Notably, this volume has already surpassed the total number of bookings for the entire year of 2023.
The report also highlights longer stays in the most exclusive areas along the Malaga coast. Last year, foreign visitors stayed an average of six days, which has now increased to 18 days, effectively tripling the length of stay.
Javier Nieto, CEO of Pure Living Properties, states that "2024 has been a highly positive year for the entire luxury holiday rental sector" and that the outlook remains promising for the coming months. He notes that "with key periods like the autumn and December holidays still ahead, we expect growth to significantly exceed the current 30%."
Agency specialising in the luxury sector
Pure Living Properties currently offers an extensive catalogue of over 150 rental properties in the renowned Golden Triangle. Prices range from €700 per night for a villa with a garden and pool to over €10,000 per night for luxury mansions.
However, CEO Javier Nieto notes that "while we have villas at the higher end of the market, which are certainly rented out, the most in-demand properties are those priced between €1,000 and €3,000 per night."
A notable difference between tourists who choose holiday rentals and those staying in hotels is their daily spending in the local area. According to a survey by the Spanish Statistics Institute (INE), the average hotel guest in the Golden Triangle spends €170 per day. In contrast, those opting for luxury rentals can spend as much as €6,000 per day, according to the real estate agency.