If you are familiar with Marbella, you will know that this beautiful coastal city at the heart of the Costa del Sol, is currently at top of its game, when it comes to fulfilling the dreams of those who want to experience a luxury Mediterranean lifestyle.
Even though, it is now many years since the 1950s, when Marbella first became a celebrity hotspot (thanks to the iconic Marbella Club Hotel). Today (2024), it still has the same cache and an extremely buoyant property market, particularly amongst international buyers looking for luxury property for sale in Marbella. With areas such as La Zagaleta, Sierra Blanca, El Madroñal and La Cerguilla, many of the world’s wealthiest and most influential citizens are attracted to Marbella, many of whom visit, fall in love with the city and decide to invest in premium Marbella real estate.With areas such as La Zagaleta, Sierra Blanca, El Madroñal and La Cerguilla, many of the world’s wealthiest and most influential citizens are attracted to Marbella, many of whom visit, fall in love with the city and decide to invest in premium Marbella real estate..
The demand for luxury property for sale in Marbella is consistently high, constantly outstripping the limited supply of housing stock. As a result, when the best apartments, penthouses and villas in Marbella are listed for sale, they are instantly snapped up by investors and buyers who want to own their own corner of paradise on the Costa del Sol.
As a real estate specialising in Marbella real estate, Weber Estates understands the enduring popularity of Marbella. First and foremost, Marbella occupies an unbeatable position on Spain’s Mediterranean coast, with spectacular vistas where ever you look, be it the dramatic La Concha Mountain backdrop or the expansive stretch of golden sandy beaches. Add to this the many years of international visitors and residents, creating a sophisticated international community, offering a much sought-after lifestyle of sun-drenched glamour, designer stores, 5-star hotels, Michelin starred restaurants and spectacular villas with sea views..
The attributes that make Marbella a must-do destination, have been recognised many times, most recently by the European best Destination Awards in 2022 and again in 2024. It is also ranked above Monte Carlo, Gstaad, Capri and Madeira as the Best Overall Location.
The region’s popularity amongst international buyers from the colder climates of Northern Europe and the UK can be easily explained; who wouldn’t want to own a second home in the sunshine? There is also an increase in the number of digital nomads choosing to settle on the Costa del Sol. According to Savills, Málaga Province is the second most popular destination in the world for executive digital nomads.
There is of course the fact that Marbella real estate, and also luxury property in the adjacent towns of Estepona and Benahavís (collectively dubbed the Golden Triangle), continue to offer exceptional returns on investment.
The Golden Triangle has gained this label as it is blessed with beautiful natural scenery and it is home to the highest concentration of high-end premium properties. Although Estepona Is not the most well-known of the Golden Triangle trio, Estepona real estate is now firmly on the radar of savvy investors, as this charismatic coastal town is currently benefitting from extensive public and private investment. In fact, it is leading the way as Málaga’s first low emission zone and plans for an enormous commercial centre are in place.
Benahavís, located 10 minutes’ drive inland approximately half way between Estepona and Marbella, was identified as having the most expensive street in Spain- El Coto La Zagaleta. On this street in La Zagaleta, koster villas for sale average around 7,043,750€ (figures according to Idealista.com).
Of course, there are many exclusive developments in other parts of the Costa del Sol, including golf properties and beautiful resorts, such as the exclusive Finca Cortesin villas for sale located above Casares on the western side of the Costa del Sol.
Sales figures for 2023 (excluding off-plan and new properties under construction) were 24.55% higher than 2019 (pre pandemic), as more and more buyers wanted to experience the sunshine lifestyle after lockdowns.
Demand for premium property on the Costa del Sol have barely been touched by the recent cost of living crisis, as most buyers in this end of the market don’t require a mortgage. The number of new homes being built on Costa del Sol (and throughout Spain) has decreased over the last few years. There were 300,000 new homes built in 2017, but only 60,000 built in 2003.
The Bank of Spain has predicted that property prices on the Costa del Sol are expected to continue to rise, due to the cost of construction and the demand from high net worth individuals. A situation that is expected to be exacerbated, by the reduction in the Euribor and interest rates for those who require finance.
Idealista’s latest figures show that in Q2 2024 there has been 9.03% reduction in number of Marbella real estate properties for sale in Marbella (18% in Marbella East), compared to 2023. The decrease in premium Marbella property stock and the increase in demand resulted in a price increase of 4.3%. Forecasts suggest that there will be an annual 5% increase over the next two years, which makes Marbella real estate a savvy investment.
Figures for August 2024 show that the average property prices in Marbella were €4,972 m² per square metre which represents a year-on-year increase of 14.5% (+ 1.8% from July / +14.5% from August 2023). Estepona property has seen a 12.9% year on year increase percent (+ 2.8% from July / + 12.9% from August 2023) and Benahavís property prices saw a 9.3% increase to an average of €4,593m (+ 1.9% from July / + 9.3% from August 2023).
After the pandemic, in addition to exclusivity, luxury, privacy and security, today’s high-end buyer is more focused on prioritising outdoor space, wellness facilities, sea and mountain views. These are attributes that set Marbella’s premium properties apart. For example, offering buyers access to superb frontline golf property and 5-star resorts like The Westin La Quinta Golf Resort & Spa, beachfront apartments on the coveted Golden Mile or a beautiful marina-side view offered by luxury property for sale in Puerto Banús .
The outdoor sunshine lifestyle, weather and beaches may be the initial draws for buyers who want to purchase property on this beautiful stretch of the Mediterranean coastline. However, it is the combination of the natural beauty of the region, the warmth of the people and superb modern conveniences, amenities and cosmopolitan lifestyle that make the Marbella lifestyle so popular.
Who wouldn’t want to enjoy this rich outdoor lifestyle all-year-round in the comfort of a luxury home in Marbella?
If you would like more information about Marbella real estate and luxury property for sale on the Costa del Sol, whether you are looking for a holiday home in Marbella, an investment property in Fuengirola or contemporary apartments for sale in Benalmadena, så kontakt Birgitte på birgitte@weberestates.com eller ring på +34 683 391 512.
