Marbella is seeing a revival in luxury demand, thanks to the spending power of some of the world’s super rich.
Just as economic punters fear much of the developed world is about to be hit by another tsunami wave of economic destruction, with some countries looking set to run out of finance – then some one buys a car in San Pedro for 1.8 million euros. Last week’s news that C. de Salamanca, Marbella’s official concessionary for Aston Martin, had closed the sale of Spain’s most expensive car confirmed that the super rich are back, and they are shopping on the coast.
Marbella has a long history in playing host to wealthy guests and residents. It started with European aristocracy, royalty and celebrities; then came the Arab Royalty and the Middle Eastern super rich; and more recently the Russians joined the party; but then came the financial crisis and things went a little quiet.
Yet, as we head towards the end of 2010, there is an undeniable optimism in town, and suppliers of luxury goods and services are saying that business is on the up. The rich are back, but they are more discerning than ever. The era of über luxury is here in Marbella, and it’s all about being unique, bespoke, and exceptional.