A prestigious American real estate firm has made its mark on the Costa del Sol by unveiling its inaugural Annual Real Estate Market Report. This comprehensive document not only underscores the flourishing state of the luxury real estate industry in the region but also highlights the escalating interest from American investors.

Marbella is swiftly emerging as a formidable contender among other opulent cities like New York, Miami, London, and Los Angeles. Witnessing a 10% surge in property prices over the last year, Marbella boasts an average rate of €4,533 per square metre. Particularly noteworthy are areas such as Nagüeles-The Golden Mile and Nueva Andalucía, renowned for their premium prices and exclusivity. In Nagüeles-The Golden Mile, prices soar to €6,040 per square metre, while Nueva Andalucía commands €5,050. Meanwhile, East Marbella, encompassing locales like Las Chapas-El Rosario, maintains an average of €4,512 per square metre. Urban Marbella sees an average price of €3,897, with San Pedro de Alcántara not far behind at €3,861. The Elviria-Cabopino area offers the most affordable rate per square metre at €3,401.

The real estate landscape in Marbella continues to flourish, with a notable 12.3% increase in property prices per square metre in Andalusia. Foreign investors spearheaded 23,300 transactions in the first quarter of 2024, accounting for 14.5% of all acquisitions in the region. Marbella shines particularly brightly in the luxury segment, ranking as the 16th most expensive city globally for high-end residences, surpassing the likes of Madrid and Dubai. The average property price in Marbella stands at around €686,229, with properties under 100 square metres averaging €347,960, and those over 100 square metres commanding approximately €754,052. On average, properties sold in Marbella constitute 120-square-metre apartments boasting three bedrooms, nestled within three-storey buildings.

The rental market in Marbella also boasts impressive figures, with an average rental rate of €15.42 per square metre per month, equating to an average monthly rental value of €2,263 per property. A studio or one-bedroom apartment typically lets for around €1,642, a two-bedroom property for approximately €1,960, and a three-bedroom property for about €2,710.

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