Property prices in Marbella are soaring thanks to increasing interest from overseas buyers. We uncover why Marbella is such a hotspot.
Puerto Banús Marina, Marbella.
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Property prices reach head-swooning heights
Property prices in Marbella, Málaga are reaching new heights. According to data provided by Idealista, the average sale price for a Marbella home is over €1,2 million. This makes it a more expensive place to buy property than Madrid or Barcelona.
Three-bedroom energy efficient villa, €1,595,000.
The reason for this is that overseas buyers, particularly from the USA and northern Europe, have chosen to move to or purchase a second home in Marbella. This has put pressure on a limited supply of villas. Plus, during the pandemic, many had to put their property purchasing plans on hold. Now that is no longer the case, there has been a sudden influx of interest. According to data provided by the real estate company Knight Frank, just under 3,500 homes were bought by international buyers in the first quarter of 2023. This was up 18% compared to the same time period in 2019.
Recently, as reported by Vanitatis, former Desperate Housewives actress Eva Longoria and husband José Bastón purchased a property in Marbella.
So, if you are looking to buy somewhere with a growing reputation as a hotspot for the glamorous and wealthy, then you can add Marbella to your list.
A three-bedroom ground floor apartment, East Marbella, €525,000.
Furthermore, when you buy a property of €500,000 or more in Spain, you are eligible to apply for a golden visa in Spain. This gives you the right to live, work and study in Spain. It also gives you visa-free travel throughout the Schengen Area.
If you are interested about buying a home worth €500,000 or more, we currently have over 500 listed on our property portal.
Why do people love Marbella so much?
Marbella Old Town.
This question lends itself to an essay answer, but I’ll try to just touch on why. Marbella is a resort-orientated city on Spain’s spectacular Costa del Sol. With a coastline of 27km, it compromises of twenty-four beautiful beaches. The Paseo Maritimo, also known as the Marbella Promenade, stretches for 7km and is the perfect place to drift along the seafront, stopping for tapas along the way. At night, you will want to dance until you drop at the Puerto Banús Marina.
Plus, Marbella has occasionally be nicknamed “Costa del Golf” in reference to the brilliant options for keen golfers, including top-rated venues Los Naranjos and La Quinta. For all your shopping needs, head to the gigantic centre, La Cañada.
Despite being a dazzlingly modern destination, Marbella also retains a charming Old Town, which dates back to the 15th century. Here, you will find Moorish walls, cobbled streets, boutique shops and plenty of eateries.
With a name like Costa del Sol, you would anticipate sun and the region does not disappoint. The sun shines brightly for over 300 days a year: the summers are hot and dry; the winters are mild. January is the coldest month, but even then, it can see highs of 18 degrees. August is the hottest month with an average daily maximum of 31°C and an average low of 23°C. (Writing this on a very meh July day in the UK, summer in Marbella certainly has my eye). But you will be able to doze on the beach from June through to October.
I don’t have Eva Longoria’s budget. Could I still find a home in Marbella?
A one-bedroom apartment in a residential complex, €194,250.
If you love Marbella but do not have an enormous budget, your beautiful Marbella home could still be out there. If you are looking for a small one- or two-bedroom apartment, then you will be able to find one with a starting budget of €140,000. Marbella is home to an increasing number of new build properties. While a sparkling new apartment will cost you closer to €180,000, it will be set in a residential complex, benefitting from features such as landscaped gardens, a pool and a gym.
Meanwhile, with a starting budget of €400,000, you will be able to find a townhouse of three bedrooms or more in Marbella. If you are prepared to be a little further from the beach or to have an older home, then the more space you will get for your budget. Old homes in the white-washed Andalusian style are beautiful, so do give them a browse.
