Marbella Emerging Areas
Marbella, a jewel on Spain’s Costa del Sol, has long been synonymous with luxury real estate. While its traditional hubs such as Puerto Banús and the Marbella Golden Mile remain iconic, emerging areas are redefining the Costa del Sol’s real estate landscape, offering fresh opportunities for investors and homebuyers.
Marbella and Benahavís continue to record the highest average property prices in the province and Andalucía, with prime locations such as the Golden Mile or La Zagaleta commanding even higher values. In Marbella, the most expensive area remains the Golden Mile, with an average price of €6,329/m² (+10.4%). Prices skyrocket in highly coveted locations like Puente Romano, where they exceed €30,000/m², or Sierra Blanca, where they reach up to €16,000/m².
Marbella’s Emerging Real Estate Hotspots: Opportunities and Growth.
As sales continue to grow in established areas and developments, the luxury real estate market is expanding notably westward along the Costa del Sol, approaching the boundaries with Sotogrande, another renowned luxury destination. In 2024, investments in luxury real estate on the Costa del Sol exceeded €3.2 billion, with several major projects taking shape in the Golden Triangle and other emerging areas. Sustainability and technology are playing a pivotal role in these new developments.
This expansion is generating significant economic dynamism in the affected municipalities, driven by three key factors: the availability of buildable land in areas of interest, efficient bureaucracy, and low urban density.
Emerging Areas and new Developments.
Emerging hotspots benefit from the Costa del Sol’s global appeal, exceptional climate, and evolving infrastructure. Developers are prioritizing sustainability and modern design, aligning with contemporary buyer demands.
Estepona
The city has become a major player in this expansion of the luxury real estate market. The town has recently positioned itself as one of the top destinations for international investors.
It is home to premium areas such as El Paraíso and the new Golden Mile, a coastal strip extending from the Marbella boundary to Costalita. In recent years, it has benefited from the opening of new five-star hotels like Ikos Andalusia and METT Hotel & Beach Resort. Prices in the area have risen by more than 9% during 2024.
Tyrian: Located in the heart of Estepona, Tyrian is a new luxury project that is attracting international investors with its contemporary design and prime location by the sea. With prices reaching up to €3.5 million, these properties are designed with sustainability and energy efficiency in mind.
A landmark development in 2024 has been the arrival of luxury residential projects to Estepona’s urban centre, such as Ikkil Bay, exclusive luxury complex offering sea-view apartments on the front line of the iconic Playa del Cristo (Estepona’s best beach), with prices ranging from €2.3 million to €5 million. In 2024, this development sold the two most expensive apartments in the city. Each unit is equipped with cutting-edge technology, integrating sustainable design and high-end comfort.
Finca Cortesín
One of the most promising emerging areas on the Costa del Sol is Finca Cortesín in Casares. A quiet luxury retreat between Marbella and Sotogrande, that has become a prime destination for international investors seeking discretion, harmony with nature, and world-class golf.
Recognised as Europe’s top golf resort, Finca Cortesín has quickly evolved into a luxury residential destination, offering magnificent villas, low urban density, and a sophisticated, relaxed lifestyle.
Benahavís
Tierra Viva in Benahavís, the DarGlobal project with Lamborghini is one of the most innovative developments at present. This collaboration includes 53 luxury villas designed with the aesthetics and spirit of the renowned Italian automotive brand. Prices for these properties range from €3.6 million to €9.5 million, with each villa offering a unique design inspired by the world of cars, featuring high-tech finishes and sustainable features.
The Costa del Sol’s emerging areas are no longer mere alternatives but are reshaping the region’s market dynamics, offering untapped potential in one of Europe’s most desirable locations. For savvy investors, the future is brighter than ever.