Marbella owners 'among richest in world'

Home owners in Marbella, many of whom hail from overseas, collectively have some of the finest property in Spain, according to an industry figure.

Already regarded as a favourite destination for some of Europe's rich and famous, a Marbella real estate agent believes the area bucks current worldwide trends concerning devaluing property.

"The picture in Marbella real estate is somewhat different … home owners in Marbella are among the wealthiest in Europe, if not the world. Therefore, property prices are not expected to fall as much," says Guy Marrison, of Marrison Properties.

Mr Marrison adds that calls from the country's housing minister to reduce property prices in Spain will encourage buyers who can "expect properties at reasonable prices".

Last year Julia Norton, sales director at Champneys Marbella, said that the region proves a consistently popular draw with those from overseas because there is "something of the exotic" about it.