By EWN • Published: 15 Aug 2024 • 9:00 • 5 minutes read
Marbella, August 10, 2024.- The premium real estate market on the Costa del Sol is better than ever, with off-plan sales, rapid sell-outs upon construction, and rising prices. The Agency Marbella – The Belleside Team has prepared the report New Real Estate Developments in Marbella: Comprehensive Analysis and Perspectives, which analyses some of the best developments and real estate projects underway from Sotogrande to Málaga, through Casares, Estepona, Benahavís, Marbella, and Ojén, confirming the excellent health of the premium real estate market.
“Currently, the real estate market is experiencing a very sweet moment. There is a lot of international clientele very interested in the Costa del Sol, both for purchasing homes for investment purposes and for buying a house or villa as a primary or secondary residence,” says Benjamin Beza, Sales Director of The Agency Marbella – The Belleside Team.
The Costa del Sol is bustling with exceptional quality real estate projects. Not all are included, but those analysed in the report demonstrate the incredible state of the real estate market: literally hundreds of millions of euros are being invested to earn billions. Specifically, the 20 real estate developments analysed in this report total more than 3.2 billion euros once all units are sold.
According to the data analysed in the report, most projects are concentrated in the range of 1 to 3 million euros (1.1 to 3.3 million dollars), with six developments in this category. This segment stands out for offering an attractive combination of luxury and accessibility in the context of the high-end market.
Also notable are developments in the range of 3 to 6 million euros (3.3 to 6.5 million dollars), with five projects, followed by four developments in the category of 6 to 10 million euros (6.5 to 10.9 million dollars). In the most exclusive segment, with prices above 10 million euros (10.9 million dollars), there are also four projects, reflecting the strength of the ultra-luxury property market. Developments below 1 million euros (1.1 million dollars) are less common, with only two projects, indicating a limited supply in the entry-level luxury range.
This price distribution shows the diversity of options available for luxury buyers on the Costa del Sol, accommodating a wide variety of investment levels.
New Developments and Promotions
To classify the different real estate projects under development, the report divides them into three types: Villas, apartment/townhouse complexes, and buildings.
New Villa Developments
Five villa complexes are analysed in the report prepared by The Agency. The most iconic of these projects are the five Karl Lagerfeld villas being built on the Golden Mile, with three still available for sale, and the 53 villas that the Lamborghini brand is erecting in the hills of Benahavís, priced between 3.6 and 8.4 million euros, expected to be completed in 2026.
Finca Cortesín is developing 16 Golfside Villas and Green 10 in Casares, with prices starting at 4.5 million euros, and Caledonian Villas, with villa prices starting at 5.4 million euros. Near Ojén, in Palo Alto, The Gallery project is selling 30 villas starting at 3.6 million euros, while The Collection Camojan offers five villas priced between 7.4 and 8.3 million euros.
Residential Apartment Complexes
This category includes most of the developments analysed in the report, showcasing the incredible dynamism of the premium real estate market on the Costa del Sol. UNO Beach Residences, a project under construction on the best plot of the Golden Mile, will feature 50 apartments in seven low-rise blocks and a series of villas priced between 5 and 19 million euros. UNO sold out all units in its pre-launch phase. In fact, apartments at UNO are currently being resold off-plan.
Another example is Dunique, which is building 96 apartments and townhouses located on Alicate Beach next to the spectacular Barronal de la Morena dune. Only 15 units remain available, priced between 2,400,000 and 4,865,000 euros. Also notable is The Sapphire, a 15-home real estate development on Estepona West Beach, with only three units left, priced between 1,880,000 and 3,360,000 euros.
In the hills of Ojén, the luxury residences of Palo Alto stand out: over a 50-hectare plot, four modern building complexes—“Los Pinsapos,” “Las Jacarandas,” “Los Almendros,” and “Los Eucaliptos”—are being developed, comprising 160 homes with a private tennis court, coworking space, a dream health club with spa and gym, and a weekly farmers’ market. Currently, stock is running low in the northern part of Palo Alto, with some remaining apartments in the Granados phase: two-bedroom units and penthouses, with immediate delivery priced at 800,000 euros, and three-bedroom penthouses with 372 m2 for 1.6 million euros. The Olivos phase has a 12-month delivery timeline, with three-bedroom apartments of 241 m2 starting at 1,030,000 euros.
In this real estate segment, it is worth highlighting the La Loma de Finca Cortesín project: an authentic Andalusian village with 88 apartments offering three types of homes, each with three bedrooms, a private pool, and a private garden totaling 300 m2. Construction will begin in September 2024, with delivery in three years. Launch prices start from 2,600,000 euros + VAT.
Premium Buildings
The report by The Agency Marbella – The Belleside Team also studied two luxury real estate developments in building format.
Sierra Blanca Tower is located on the Antonio Banderas Promenade in Málaga and is a 21-story tower. It features all kinds of luxury services (gym, daycare, solarium, pool, etc.). Sierra Blanca Tower has apartments with one to four bedrooms and duplex penthouses, priced between 900,000 and 4,470,000 euros.
The other building analysed in The Agency Marbella’s report is called Tyrian Beachfront. This complex, located on Estepona’s beachfront, consists of a four-story building with 40 villas in height. Tyrian offers homes with three to five bedrooms, starting at 210 m², with prices starting at 3.4 million euros. This project is currently under construction. By February of this year, more than 40% of the homes had been sold, less than two months after its pre-launch and without having officially gone on sale.
Who buys these types of luxury homes?
According to Leif Orthmann, Managing Partner of The Agency, “these high-end real estate developments primarily attract wealthy international buyers, including entrepreneurs, executives, celebrities, and investors, who seek luxury, comfort, and exclusivity in a sunny and prestigious location.”
Orthmann considers that several common features are shared by the luxury projects analysed in the report “New Real Estate Developments in Marbella: Comprehensive Analysis and Perspective”:
The luxury real estate market is in full expansion. It is no longer confined to the Golden Mile or Nueva Andalucía. It spans a broad arc from Sotogrande to Málaga city. Currently, it is characterised by sustained growth, diverse prices, and a continuous appreciation of the real estate developments underway. This dynamism promises to keep the region as a preferred destination for those seeking the best in luxury, comfort, and exclusivity.
For more information, please contact us:
Phone: +34 613 05 07 22
Email: marbella@theagencyre.com
Web: www.belleside.com
Sponsored
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our Privacy Policy for more information about our privacy practices.
Download our media pack in either English or Spanish.