Marbella Best Areas.
Marbella, the jewel of Spain’s Costa del Sol, offers a diverse and thriving real estate market. The city best areas, including the Marbella Golden Mile, Puerto Banús, Sierra Blanca, and Nueva Andalucía, continue to captivate global buyers seeking luxury, exclusivity, and lifestyle appeal.
Key Locations of Interest
The luxury real estate market has been firmly established in Marbella for decades, However, the market is expanding westward along the Costa del Sol due to factors like limited land availability in Marbella. Adjacent locations like Benahavís or Estepona (with streamlined bureaucracy) are playing a key role nowadays. This trend is even more evident in 2024, with major projects emerging in Estepona’s urban centre and Finca Cortesín in Casares.
What Are the Most Expensive Areas in Marbella?
Its most sought-after areas, including the Golden Mile, and La Zagaleta continue to captivate global buyers seeking luxury, exclusivity, and lifestyle appeal.
The Golden Mile
The Golden Mile remains the most coveted location for investors seeking the high-level lifestyle Marbella offers. This prestigious stretch connecting Marbella to Puerto Banús, has attracted since the 50th of last century, with the opening of the Marbella Club, celebrities and aristocrats from Europe, sparking the construction of exclusive properties.
This year, the area has been further strengthened with new projects such as fine-dining restaurants, luxury residential developments such as the branded residences, and entertainment spaces like Forum.
This dynamism is increasing interest and sales in the area, leading to rising prices that reached their historical peak of €6,400/m² in December, a 10% increase compared to last year.
New Projects on the Golden Mile.
One of the most notable projects is Marbella Design Hills, a branded residence by Dolce & Gabbana, which was launched in September 2023. The project, which already has a waiting list, began construction in 2024. The first pilot homes are expected to be ready by the end of 2025.
UNO Beach Residences: This beachfront development has already sold the majority of its 50 apartments and villas, with prices ranging from €5 million to €19 million. It remains one of the most sough after complex at present.
Puente Romano is always between the most in-demand developments, particularly Marina de Puente Romano where sales picked up by 20% between January and June. With an average price exceeding €30,000/m², this area has become the most expensive luxury residential area on the Costa del Sol and Spain.
Sierra Blanca
In 2024, property sales in Sierra Blanca have increased by 18% compared to the previous year, further establishing it as one of the most sought-after areas in Marbella. This growth is driven by continued international demand and the limited availability of plots, which keeps driving up prices making resale properties an increasingly popular option.
The average price for properties in Sierra Blanca has reached €6.5 million, with some exceptional mansions exceeding €15 million. The demand continues to exceed supply, especially for new builds or fully renovations. The limited availability of land for new developments is further driving this trend.
La Zagaleta
In the early 1990s, the luxury market expanded into Benahavís with the creation of La Zagaleta, one of Europe’s most prestigious and exclusive residential areas. Initially a private hunting estate belonging to Saudi magnate Adnan Khashoggi, the property was sold after his bankruptcy in the 1980s and transformed into one of the most sought-after urbanisations in the region.
Located in the hills of Benahavís, just 15 minutes from Marbella, La Zagaleta is renowned for its extreme privacy, advanced security measures, and high-end facilities, including two private golf courses, an equestrian club, and a heliport. Considered by many to be the best residential area in Europe, La Zagaleta covers 900 hectares, with around 400 plots and approximately 260 villas. It is one of the most exclusive and sought-after locations not only in the Costa del Sol but in the entire country. Villas in this area can exceed €20 million, and demand consistently outstrips supply, particularly for estates and sea-view plots.
Demand has increased by more than 19% in the first months of 2024, with price growth being more modest, up just 0.5% compared to 2023.
The average price of a new property in La Zagaleta is currently between €15,000 and €16,000/m², with some premium plots featuring panoramic sea views reaching over €10,000/m². There have even been land transactions exceeding €10 million.
La Zagaleta is also undergoing an expansion project that will include a 60-room hotel and 66 branded residences, with a total investment of over €170 million. This development is expected to further solidify its position as one of the most prestigious residential areas in Europe.
Marbella’s best areas continue to see rising demand, driven by international buyers seeking outdoor living, modern designs, and Mediterranean charm. These premium locations, some with over 60 years of history, remain highly consolidated in the market, with prices among the highest in the country. Investor interest continues to grow year after year, making them highly profitable for buyers. With ongoing infrastructure developments and sustainable innovations, the real estate outlook for these prime locations remains exceptionally strong, promising lucrative opportunities for investors and dream homes for buyers.
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