Any experienced real estate agent in Marbella will tell you that this is an extraordinary time for luxury property sales in Marbella. The gap between supply and demand for million-dollar homes has never been wider, making competition for the limited supply of luxury homes in this highly sought-after beach resort even fiercer.
Marbella has the 5 most expensive streets in Spain
According to Idealista.com, Marbella is home to five of the 10 most expensive streets in all of Spain (including the Canary Islands and the Balearic Islands). Real estate prices in this area are up to 38 times higher than comparable luxury properties in other coastal/resort cities. And if that is not enough to convince you of the wisdom of investing in property in Marbella, the area also boasts six of the 10 most expensive properties in Spain, each with a price tag of more than 30 million euros.
8.5 million euro average villa price in Sierra Blanca
Marbella's most expensive street is identified as Calle Mozart. Located in the foothills of the mountains above Marbella, the rarefied and extremely quiet residential area of Sierra Blanca is home to the crème de la crème of luxury real estate. The average price for the luxury homes would cost 8.5 million euros. You enter through a security check, manned by armed guards. Its residents include such famous names as tennis star Novak Djokovic.
La Zagaleta has Spain's most expensive luxury property
However, this is not the most expensive area on this beautiful part of the Costa del Sol. Traveling 13 kilometers west of Marbella, you will find La Zagaleta Resort and Country Club in Benahavís. Here, the average price for a villa in this highly exclusive enclave is as high as 10.7 million euros, while some modern luxury mansions reach prices as high as 36 million euros. For more details about luxury real estate in Benahaví please read our blog:”It's official! Benahavís is the most expensive place to buy luxury property in Spain“.
High demand for luxury real estate
The supply and demand dynamics in the Marbella real estate market were explained by MDR Luxury Homes founder Myriam De Roye:
“These prices reflect the demand for the Marbella lifestyle. Everyone wants to enjoy the good life and is willing to pay what it takes to do so. Since Marbella's inception as a glamorous beach destination, luxury real estate in Marbella has been expensive. In 2023, when other sectors of the market are struggling because of high mortgage interest rates, the market for luxury properties in Marbella remains vibrant, as 45% are cash buyers and are not affected by higher interest rates.”
A recent article in El Pais reports that real estate experts in southern Spain agree with Myriam that these properties will not be on the market for long, regardless of the price tag. Demand is so limited that they will be immediately snapped up by buyers who want to own a beautiful luxury home and make smart real estate investments.”
Why everyone loves Marbella
These price points reflect not only the high quality of these modern luxury homes, but also the extraordinarily beautiful views of the Mediterranean Sea. There is also another aspect at play: the appeal of Marbella's cosmopolitan atmosphere and exquisite lifestyle.
Excellent travel connections
The nearby city of Málaga (an attraction in itself that was named the second most popular global destination for executive digital nomads in 2022) has a busy international airport with regular flights from most major cities. In fact, it is reported that the number of arrivals is at an all-time high; in the first few months of 2023, there was a 9% increase over pre-pandemic figures for 2019.
Its temperate climate and natural topography of mountains, lakes, rivers and, of course, endless stretches of golden sandy beaches make it one of the world's most attractive year-round destinations. Add to this the famous health benefits of the Mediterranean diet, the abundance of freshly caught fish and locally grown produce used by a wide selection of high-quality restaurants and Michelin-starred chefs (such as Malaga-born Dani García)
Every aspect of daily life is thought of with high-quality amenities, including international schools, world-class medical facilities and every possible type of sport, outdoor activity and water sports.
Whether you are interested in investing in a modern luxury country home in a gated community such as La Zagaleta or Sierra Blanca or prefer luxury apartments on Marbella's Golden Mile, the key is to work with an established real estate agent who has access to new listings of luxury homes for sale, often before they hit the open market.
If you would like to know more about the luxury properties for sale in Marbella, Benahavís or the wider Costa del Sol, please contact Myriam at Myriam@mdrluxuryhomes.com.
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