Frequently Asked Questions

WHAT IS THE AVERAGE SELLING PRICE IN MARBELLA?

As of mid-2024, the average sales price for properties in Marbella exhibits significant variation depending on the specific area and the type of property. Generally, the average price per square meter in Marbella is around €5,054. However, this figure can fluctuate considerably across different neighborhoods. For instance, in the prestigious Milla de Oro area, prices can reach as high as €5,969 per square meter, reflecting the exclusivity and luxury of the properties there. In contrast, areas in Marbella East offer more affordable options, with prices averaging around €4,292 per square meter. This disparity highlights the diverse real estate market in Marbella, catering to a wide range of budgets and preferences. The overall trend shows a steady increase in property prices, driven by high demand and limited supply, making Marbella a hotspot for real estate investment 

https://www.drumelia.com/live-market-report 

 

HOW IS THE REAL ESTATE MARKET IN MARBELLA IN 2024?

The real estate market in Marbella in 2024 is characterized by high demand, limited supply, and rising prices. Prime locations like the Golden Mile, Nueva Andalucía, and La Zagaleta continue to attract strong interest from international buyers, pushing prices upward. The average price per square meter is approximately €5,054, varying significantly by area. 

Despite new developments, demand outpaces supply, especially in high-end properties, leading to a steady price increase of up to 15% year-on-year. This trend is driven by the shortage of available properties and rising construction costs, making Marbella a competitive market for real estate investment. 

Additionally, the market remains attractive to foreign buyers, who constitute a significant portion of the market share, further fueling demand and price hikes. Overall, the Marbella real estate market is expected to remain robust, focusing on high-quality, luxury properties 

https://www.drumelia.com/38848-2024-property-challenges-opportunities.html  

 

WHAT ARE THE BEST AREAS TO BUY PROPERTY IN MARBELLA?

Marbella offers several prime areas for property investment, each with unique appeals: 

  1. La Zagaleta: An exclusive gated community offering privacy and luxury, with large villas, private golf courses, and an equestrian center, favored by high-net-worth individuals. 
  1. Sierra Blanca: Offers elevated properties with stunning Mediterranean views, known for its exclusive villas and gated communities. 
  1. Golden Mile: Known for luxury villas, 5-star hotels, and exclusive beach clubs, it is one of the most prestigious and expensive areas. 
  1. Nagüeles: Located near the Golden Mile, Nagüeles is known for its large villas and serene environment, offering a blend of luxury and tranquility, with close proximity to Marbella's amenities and beaches. 
  1. Nueva Andalucía: Known as Golf Valley, it features numerous golf courses and a range of properties from apartments to large villas, ideal for a quieter lifestyle with excellent amenities. 
  1. Marbella Club Golf Resort: This area offers luxurious properties within a gated community, featuring an 18-hole golf course, equestrian center, and beautiful natural surroundings, providing a peaceful and exclusive living environment. 
  1. Guadalmina: Known for tranquility and high-end properties, including beachfront villas and luxury apartments, with a commercial center and golf courses. 

These areas offer a range of luxurious lifestyles, from beachfront living to serene, secluded settings, catering to diverse preferences and investment goals in Marbella's real estate market. 

 https://www.drumelia.com/living  

 

ARE THERE ANY NEW DEVELOPMENTS IN MARBELLA?

Marbella boasts several new luxury real estate developments that cater to discerning buyers seeking sophistication and exclusivity, many, in collaboration with world-famous fashion designers: 

-UNO: Located along the famed Golden Mile, UNO is set to be the most exclusive gated beach front development to be built along Marbella’s prime address in the last 20 years 

LINK: https://www.drumelia.com/33256-uno-in-marbella-luxury-living-for-sale.html 

-Design Hills by Dolce & Gabbana: Features exquisite villas designed in collaboration with the iconic fashion brand, providing breathtaking views and high-end finishes, and located just minutes by walk of the shought-after Puente Romano resort. 

Elie Saab Villas: Represent the pinnacle of luxury with elegant architecture and spacious interiors, designed by renowned fashion designer Elie Saab. 

  1. Fendi Villas: These sophisticated villas showcase the luxury and style of the Fendi brand, with premium materials and cutting-edge technology. 
  1. Karl Lagerfeld Villas: Reflect the design innovation associated with Karl Lagerfeld, featuring unique architectural elements and top-tier amenities. 
  1. Tierra Viva: It’s a brand-new exclusive residential community in La Alqueria. 53 contemporary-style villas will be created to the high standards of luxury in collaboration with the iconic Automobile Lamborghini brand. 

These developments exemplify Marbella’s status as a hotspot for luxury living, offering exclusive properties with exceptional design and premium features 

https://www.drumelia.com/30877-marbella-luxury-villas-luxury-brands.html 

 

IS MARBELLA A GOOD PLACE FOR REAL ESTATE INVESTMENT?

Marbella is an excellent place for real estate investment due to several factors. Firstly, it has a high demand for luxury properties, driven by international buyers attracted to its climate, lifestyle, and amenities. Prime areas like the Golden Mile, La Zagaleta, and Sierra Blanca continue to see robust interest and rising prices. Secondly, Marbella’s property market has shown resilience, with prices increasing despite broader economic uncertainties. The shortage of new properties and limited availability of land for development ensure that demand remains high, supporting property values. Additionally, new luxury developments by brands like Dolce & Gabbana, Fendi, and Karl Lagerfeld enhance the area's appeal, offering high-end options that attract affluent investors. Lastly, Marbella’s strong rental market, bolstered by its status as a top tourist destination, provides attractive rental yields for investors. Overall, Marbella offers a stable and lucrative real estate investment environment. 

 https://www.drumelia.com/43270-marbella-the-ultimate-destination-for-luxury-living-and-exclusive-getaways.html 

 

WHAT ARE THE PROPERTY TAXES IN MARBELLA?

When purchasing property in Marbella, several taxes and costs apply. Here's a breakdown: 

  1. Transfer Tax (ITP): For resale properties, the transfer tax is 7%. For new properties purchased from a developer, you pay 10% VAT and 1.2% stamp duty. 
  1. Municipal Property Tax (IBI): This annual tax varies based on the cadastral value of the property. It's typically paid in August-September for the current year. 
  1. Plusvalía (Capital Gains Tax): Paid by the seller, this tax is based on the increase in the property's cadastral value over the period of ownership. 
  1. Non-Resident Income Tax: Non-residents pay a fixed rate of 24% on rental income, while EU residents pay 19%. 
  1. Wealth Tax: Applicable to properties over €700,000 for residents and €3 million for non-residents, with progressive rates up to 2.5%. 

These taxes and costs are crucial to consider when planning your real estate investment in Marbella. For more detailed information, you can refer to Drumelia Real Estate's comprehensive guides. 

https://www.drumelia.com/guides/purchase-taxes-costs-property-marbella 

 

HOW CAN I FIND A RELIABLE REAL ESTATE AGENT IN MARBELLA?

Finding a reliable real estate agent in Marbella involves more than just a quick online search. Here’s why a professional agent is essential and how to find one: 

  • Expertise and Local Knowledge: A good agent will conduct thorough searches and prioritize your needs, ensuring you don't miss out on crucial details. They know the local market inside out and can highlight potential investment opportunities that you might overlook. 
  • Comprehensive Support: Agents act as your area guide, providing essential information about neighborhoods, schools, amenities, and more. Their network can save you hours of research for service providers, contractors, and other professionals. 
  • Negotiation Skills: An experienced agent is a master negotiator, ensuring your interests are protected throughout the transaction and helping you secure the best deal possible. 

How to find them? 

  1. Client Reviews and Recommendations: Seek recommendations from other property owners and read online reviews to gauge the satisfaction of previous clients. 
  1. Look for agents with a professional website and a strong online presence. This indicates their commitment to transparency and accessibility. Their website should feature detailed property listings, client testimonials, and clear contact information. 
  1. Initial Consultation: Schedule a meeting to discuss your needs and gauge their expertise and responsiveness. A reliable agent will listen to your requirements, provide valuable insights, and outline a clear strategy for finding your ideal property. 

By leveraging an agent’s expertise, you ensure a smoother, more informed property purchase process in Marbella 

https://www.drumelia.com/guides/buy-property-marbella 

 

WHAT ARE THE LEGAL REQUIREMENTS FOR BUYING A PROPERTY IN MARBELLA?

To legally buy property in Marbella, follow these steps: 

  • Obtain an NIE (Número de Identificación de Extranjero): This identification number is necessary for all legal and financial activities in Spain. You can apply for an NIE at a Spanish consulate in your home country or at a police station in Spain. 
  • Open a Spanish Bank Account: A local bank account is required to manage the transaction and related expenses. You'll need your NIE, proof of identity, and proof of funds. 
  • Due Diligence: This involves both technical and legal checks. Technical due diligence assesses the property's structural condition, while legal due diligence verifies ownership, any existing liens, and compliance with local regulations. 
  • Hire a Lawyer: Engage a qualified lawyer who specializes in Spanish real estate to ensure all contracts and documents are in order, and to guide you through the legal aspects of the transaction. 
  • Sign Preliminary and Final Agreements: After negotiating terms and making an offer, sign a preliminary agreement with a deposit. The final step is the transfer of the title deed (Escritura) in the presence of a notary, where the remaining balance is paid and ownership is transferred. 
  • Pay Taxes and Fees: These include transfer taxes for resale properties (6-10%), VAT for new properties (10%), stamp duty (1-2%), notary fees, and registration fees. Make sure to budget for these additional costs. 

Following these steps and seeking professional assistance can help ensure a smooth and legally compliant property purchase in Marbella. 

 https://www.drumelia.com/guides/buy-property-marbella 

 

HOW TO GET A MORTGAGE FOR A PROPERTY IN MARBELLA?

To obtain a mortgage for a property in Marbella, follow these steps: 

  • Eligibility and Loan-to-Value (LTV): Non-residents can typically borrow 50-70% of the property value, while residents can borrow up to 80%. 
  • Required Documents: You need a NIE (Foreigner Identification Number), a Spanish bank account, proof of income, property tax proof, current debts, property deeds, and a credit rating from your home country. 
  • Types of Mortgages: Options include variable and fixed-rate mortgages, with fixed rates ranging from 2.4% to 3%. 
  • Additional Costs: Consider property valuation fees, mortgage opening fees, insurance, notary fees, stamp duty, and registry fees. 
  • Application Process: Ensure all documents are translated and authenticated if necessary. 

 

WHICH IS BETTER: MARBELLA OR MALLORCA?

Choosing between Marbella and Mallorca for property investment depends on your lifestyle and preferences. Marbella offers a vibrant, luxurious lifestyle with high-end shopping, dining, and a bustling social scene. It attracts international buyers and high-net-worth individuals, ensuring a robust real estate market. The real estate market in Marbella has shown steady growth, with high demand ensuring robust property values. The climate is warmer, with more sunshine and fewer rainy days compared to Mallorca. 

Mallorca, on the other hand, provides a more relaxed, island atmosphere with stunning natural landscapes, a mix of nature and history, and a variety of beautiful beaches. It also has a strong real estate market, driven by consistent demand for rental properties. 

Ultimately, Marbella is ideal for those seeking a dynamic, glamorous environment, while Mallorca suits those preferring a tranquil, scenic lifestyle 

https://www.drumelia.com/33793-marbella-vs-mallorca-where-buy-property.html 

 

DOES THE AGENCY EARN A COMMISSION FROM THE BUYER?

Agents earn commission from the seller rather than the buyer. When purchasing property in Marbella, the buyer is not responsible for paying the real estate agent's commission. The commission fee is usually included in the sales price and is paid by the property seller. This ensures that the buyer can focus on other expenses such as property taxes, legal fees, and notary costs without worrying about additional commission payments to the real estate agency. 

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