Marbella is a city in the Costa del Sol region of southern Spain. It has an image of an expensive and prestigious place for celebreties, businessmen and politicians who love to relax here. Let's see how the "elite resort" status affects local real estate and lifestyle. Is everything here insanely expensive? Says the expert of the Spanish real estate agency Cadespa Luxury Real Estate Oleg Bakalyuk.
Popularized by the Brits
The history of the city of Marbella began in the 1960s, when wealthy British tourists came here. It was they who began to build up the coastline with villas or, more recently, cottages.
They did not just promoted the resort, but also stayed there for a long time. To this day the British upper class still chooses Marbella as a place to live and relax. Together with them, Belgians and Dutch visit the Spanish coast. The shares of Russians, at least before the pandemic, was about 7% (they were in the Top-10 buyers of local real estate).
The location has become popular among wealthy foreigners for a reason. Its main advantage is a unique mild climate: the temperature difference during the year is minimal, about 10C-15C. This is a zone with constant pressure, where in the summer season there is almost no rain, and in winter the air temperature is kept at the level of +15C to +20C.
A Small Territory With Everything Essential
In addition to the climate, Marbella is valued for its compact size and high-quality infrastructure. For instance, to get to know Catalonia, you need to go around it for two hundred kilometers in different directions. Here the distance from Marbella to Estepona is only 20 km along the sea.
Despite its size, Marbella has everything from food chains (Spanish and foreign) to international schools and colleges. And this is one of the main reasons why foreigners move here with their families.
After graduating from local educational institutions (English, not Spanish), you can safely enter any prestigious European or American University.
The Top-8 Schools and Colleges in the Region
1. Colegio Alboran
2. Aloha College
3. Colegio San Jose
4. Las Chapas
5. Swans International Primary School
6. English International College
7. Laude International College San Pedro
8. The British School of Marbella
In addition, Marbella has a well-developed entertainment and services sector. There are world-class hotels and restaurants where big celebreties, businessmen and politicians rest. For example, in 2010, Michelle Obama spent her summer vacation here.
Not Only for the Rich
Marbella is deffinitely not a place exclusively for the extremely wealthy. Real estate is expensive here and only in exclusive zones.
For example, the urbanisation of La Zagaleta is aimed mainly at world–class businessmen, highly paid artists and even people from Royal families (for example, the Swedish king).
Buying a house in such a place is very expensive (the entrance threshold is from €3 million) and also difficult. Club members must agree on the settlement of newcomers.
For your information
The urbanisation of La Zagaleta is a protected area (900 ha), located a few kilometers away from Puerto Banus towards the Ronda. It is also a closed country club, where everything is intended only for residents and their guests.
The village administration prohibits any construction work that results in a closed view of the coast. The minimum size of the land plot is also defined, it is three thousand square meters. A green area from ten meters must devine neighboring plots. This is made specifically for animals that should be able to move freely around the reserve. As a bonus, this measure provides a high degree of privacy for club members.
However, on the coast in this area there are also more compounds on budget. If you drive from Marbella for ten minutes towards Malaga or beyond Estepona, you can find properties for the middle class. Apartments there start at €250,000-€300,000.
Other aspects of life, such as restaurants, shops (especially chain stores) and other entertainment cost the same throughout Spain. So in this expensive location ordinary people also live comfortably. The main thing is to choose the right urbanisation.
The most elite urbanizations in this area are already mentioned La Zagaleta, as well as Sierra Blanca. Both locations have lots of luxury villas with large private plots and closed residential complexes. Such territories are very seriously protected, there are several security posts everywhere.
La Zagaleta is located six kilometers away from the sea, surrounded by cork and pine forests. Sierra Blanca is located closer to the center of Marbella, just two kilometers away.
Important to note that the distance from the sea is not a disadvantage, but a need. Buyers of properties in such locations prefer to be away from the city bustle and tourists. They want to live apart from others.
Budget-friendly options can be purchased in the nearby towns of Mijas Costa, Fuengirola or Benalmadena. This is also Costa del Sol, but it is not as green as in Marbella, the climate isn't that mild. Also, these towns do not have luxury hotels and popular restaurants.
As for development in neighboring locations, these are typical five-, seven - or nine-story buildings in the city. All villas are on the distance. In high-rise buildings, commercial establishments, company offices, banks, cafes and restaurants are traditionally located on the first floors.
The necessary infrastructure is also available here. In addition, there are various types of entertainment that are popular among residents of the entire region. A good example is the Fuengirola zoo.
You can consider the region of Marbella with about €300,000-€400,000 thousand in your pocket. For this money, you will find an apartment on the "New Golden Mile" (an area 19 km from the East of Estepona along the Costa del Sol to San Pedro de Alcantara).
For this amount you likely get a 70-80-meter two-bedroom apartment in the residential complex on the second or third line from the sea. Moreover, this complex will be of a good quality, often with security, a gardener and necessarily swimming pools both indoor and outdoor. The property is also likely to have a garden with tropical vegetation.
In general, the quality of real estate in this area is usually very good. Marble floors, modern kitchen appliances. The fact is that these are not old houses like those that are sold in Barcelona. Most of the properties in Marbella were built in the 2000s. And over the past twenty years, there are no complaints about the quality of these buildings.
But on the "Golden Mile" prices for similar properties starts from €500,000. And it is also the second or fourth line from the sea.
For your information
The "Golden Mile" is the most expensive area in Marbella. This is an eight-kilometer stretch of coast from the center of Marbella to the port of Banus, a fashionable resort area with a promenade, expensive shops and restaurants, prestigious hotels, the best nightclubs, mansions and luxury apartments. The cost of housing here ranges from half a million to €50 million and even more.
This is the secondary market. There are almost no places for new development in Marbella and the surrounding area, all liquid locations, especially on the coast, have been built up for a long time. All the few remaining plots that are now being developed by local developers are given either for multi-apartment residential complexes or for townhouses.
The cost of small properties in such complexes starts from €800,000-€900,000. If we consider an apartment from 120 sq.m, and a villa from 200 sq.m, the initial price will be one and a half to two times higher.
It is more reasonable to go to the right or left of the "Golden Mile", because in new buildings there the approach to pricing is more democratic. So, double apartments closer to the sea can be found at a price of €350,000-€400,000. If you go further into the mountains, the final figure will be 10-15% lower.
It is clear that for people who buy housing here, the distance from the water for several kilometers is not critical, because most people move by car.
Here's what you can buy in Marbella right now:
6 609 652 €
Villa in Marbella, Spain
383 sq.m45
A few meters away from the beach, this 4 bedroom villa gathers all the requirements of luxury lovers in one of the most prestigious areas of Marbella, The Golden Mile.
On the main floor, we find a large living-dining area with fireplace and access to a wooden floored terrace with a summer dining area, a small garden and partial sea views. The...
Property Investor
2 250 000 €
Villa in Marbella, Spain
574 sq.m56
Recently built with extremely high attention to detail and using high end materials, this villa is perfectly located in Los Monteros, an exclusive gated residential area with 24h security service and only a stone's throw away from one of the most beautiful beaches in Marbella. Built on a plot of more than 930 m2, over 2 floors plus solarium...
Property Investor
3 250 000 €
Villa in Marbella, Spain
662 sq.m56
Designed by the renowned architectural studio of César de Leyva, this beautiful villa gathers a traditional Andalusian style with modern open interior design and carefully designed outdoor areas.
With 5 en-suite bedrooms, ample spaces and high ceilings this property is a hidden gem in one of the most exclusive and secure areas of the...
Property Investor
695 000 €
Flat in Marbella, Spain
187 sq.m3
Residence
Two-bedroom apartment in a first-class gated residential complex with round-the-clock security.Elevator to each floor from the underground parking. Two communal swimming pools (one heated indoor), as well as a large outdoor Jacuzzi and spa, including a gym and two saunas. All this is about 8 km from the center of Marbella and 30 km from Malaga...
NF Group
22 000 000 €
Penthouse in Marbella, Spain
55
Residence
Exquisitely decorated, this duplex penthouse has been completely renovated to the highest standards and is located in the coastal Marina de Puente Romano building, one of the most attractive areas of the Golden Mile. Just a few steps from the tennis club and the prestigious beach bars and restaurants of the area.The beautiful and refined...
NF Group
849 000 €
Townhouse in Marbella, Spain
120 sq.m32
Residence
Completely renovated and designed by one of Marbella's leading interior design studios, this incredible townhouse offers something completely different on the market. High-quality materials were used throughout the house.The area of the house is about 120 m2, and the terrace is 30 m2. The ground floor has an open floor plan with a beautiful...
NF Group
568 500 €
Apartment in Marbella, Spain
22
Residence
The complex is ideally located in San Pedro, 5 km from Puerto Banus and 14 km from the center of Marbella. The project is located in the heart of San Pedro, offering residents easy access to a variety of amenities including an international school, supermarkets, boutiques, pharmacies, medical services, tennis courts, golf courses, restaurants...
NF Group
4 900 000 €
Villa in Marbella, Spain
796 sq.m877
ResidenceOnline ViewingRemote Transaction
Classic Elegant Golf Villa with a Private Pool in Nueva Andalucia Marbella
The villa is located in the municipality of Marbella, probably the most famous Costa del Sol’s resort town with an unparalleled selection of entertainment, leisure, hospitality, and sports offers. The municipality stands out with its unique glamour lifestyle, unbeatable...
TEKCE
295 000 €
Apartment in Marbella, Spain
60 sq.m211
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Magnificent Views Properties in a Prime Area of Marbella
This new build development is set in the municipality of Marbella. Marbella, synonymous with luxury living is a prestigious and picturesque coastal town located on the renowned Costa del Sol in southern Spain. This Mediterranean paradise is famous for its stunning natural beauty, upscale...
TEKCE
1 465 000 €
Apartment in Marbella, Spain
334 sq.m433
ResidenceOnline ViewingRemote Transaction
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3 180 000 €
Villa in Marbella, Spain
752 sq.m545
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4-Bedroom Beachside Luxury Villas Close to Puerto Banus in Marbella
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873 000 €
Apartment in Marbella, Spain
153 sq.m432
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3 080 000 €
Penthouse in Marbella, Spain
260 sq.m433
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Chic Apartments in Marbella's Prestigious Located by the Beach
The apartments are located in a seaside location in Marbella. Marbella is a popular residential area with most of the year offers a holiday atmosphere. The annual temperature in Marbella has a 19°C average. The city attracts holiday-makers along with expats and offers a cosmopolitan...
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4 250 000 €
Apartment in Marbella, Spain
492 sq.m433
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360 000 €
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113 sq.m322
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The properties are in a complex in Marbella, a famous resort in Costa del Sol with unique features. Marbella is a favorite destination for both living and vacationing with beautiful sea, impressive views, and a wide option of amenities.
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1 820 000 €
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235 sq.m655
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6 870 000 €
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470 sq.m656
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5 Bedroom Sophisticated Villa in the Heart of the Marbella's Golden Mile
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4 950 000 €
Villa in Marbella, Spain
828 sq.m655
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2 400 000 €
Villa in Marbella, Spain
598 sq.m654
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1 400 000 €
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248 sq.m322
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At the moment, we can get discounts of 10-15% both from the developer and from the owner. This is not much, but it cannot be higher than that, because before the pandemic the real estate market in Marbella was booming.
Despite the fact that this resort is one of the most expensive in Spain (along with Barcelona and the suburbs, Costa Brava and Mallorca), there is always demand. There are several reasons, one of them is the desire to give children the opportunity to study in international schools and colleges and, thus, open the way to prestigious universities. I can assume that this has become even more relevant in the current situation.
Now, obviously, the second wave is beginning, and in this regard, some people are ready to make concessions. But only those who need to withdraw money urgently. I would not recommend counting on mass discounts.
As for trends, here people are moving to the suburbs. This is very noticeable in Catalonia, residents of cities are moving outside of their borders, looking for homes on the coast to protect themselves and their loved ones from mass gatherings.