A survey, carried out for Marbella council by the University of Malaga, has shown that only New York, London and Barcelona have more expensive properties available to rent on Airbnb than Marbella, based on property averages. The Costa resort comes just ahead of Los Angeles, Sydney and Moscow.
The 130-page study was commissioned by the local town hall in an attempt to understand the growing phenomenon of private homes being rented to tourists via online platforms.
Marbella had 4,077 homes available this way, says the data, more than any other town on the Costa del Sol. Most of these are in the Nueva Andalucía and Elviria areas. Over half the properties being rented out are owned by foreigners. Almost all of those on offer are entire properties and only 7 per cent are individual rooms.
The study by the university shows that availability is highly seasonal with almost half only being available on Airbnb for rent for between one and three months of the year. As these months are generally in summer, this has the effect of making the average price high.
The average nightly price in 2017 was 150 euros per home rented, just below New York at 159, London at 157.30 and Barcelona at 155.60.
The report concludes that the rise of Airbnb is not seen as a serious problem by Marbella residents, as it increasingly is in some areas of Spain.