Peak season weekly rates
July and August are the only weeks of genuinely constrained supply. A well-maintained 5-bedroom villa in the Golden Mile or Sierra Blanca with pool, garden, and sea view achieves €15,000–€50,000 per week in peak summer. Exceptional beachfront properties can reach €80,000–€120,000/week in August.
Shoulder season (June, September) achieves 60–80% of peak rates. May and October achieve 40–60%. November through March generates minimal luxury rental demand.
Realistic occupancy and annual gross income
A professionally managed luxury villa achieves 8–14 bookable weeks per year. Owner use, maintenance, and booking gaps reduce this further. Example: a €3.5M Golden Mile villa at €22,000–€28,000/week for 12 weeks = €264,000–€336,000 gross annual income. Gross yield: 7.5–9.6% on purchase price.
This is the figure that appears in marketing materials. Net yield after costs is different.
Full cost stack and net yield
Management fee (full-service luxury agency): 18–25% of gross. Platform commissions: 3–15%. Maintenance and management during rental (cleaning, consumables, pool, garden): €35,000–€60,000/year. Community fees: €8,000–€20,000/year. IBI: €3,000–€12,000/year. Insurance (must cover tourist rental): €2,000–€6,000/year. Utilities: €8,000–€15,000/year. IRNR: 24% gross (non-EU) or 19% net (EU/EEA).
Realistic net yield for a €3.5M villa: 1.5–3%. No per-zone appreciation series exists for Marbella prime: Spain publishes no per-property closing prices, so yield is the part of the return that can actually be evidenced.
VFT licence requirements (Andalucía 2026)
Decreto 31/2024 requires a Vivienda con Fines Turísticos (VFT) licence for all short-term rentals. Requirements: responsible declaration to the Junta de Andalucía; basic technical compliance (room sizes, ventilation, fire safety); licence number displayed on all advertising. Processing in Málaga province: 4–10 weeks.
Gated community statutes may independently restrict tourist rental — verify the reglamento de la comunidad before assuming rental is permitted. Sierra Blanca and La Zagaleta have historically restricted short-term tourist rental by non-member owners.
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