New houses and developments in Marbella

New construction in the city of Marbella

Currently, the city of Marbella has a supply of around 37 new construction developments. According to the latest market data released by the Ministry of Transport, Mobility, and Urban Agenda, the price per square meter in the city increased by 10.7% over the last year, reaching 3,830 euros/m².

The average price per square meter in the five most prominent areas of Marbella are:

• Center: over 3,200 €/m².
• Golden Mile: above 4,450 €/m².
• Nueva Andalucía: over 4,300 €/m².
• San Pedro de Alcántara: about 3,200 €/m².
• Las Chapas: more than 3,400 €/m².

Which areas have the highest number of new construction properties under development?

Currently, the neighborhoods with the highest volume of new developments are: Marbella pueblo, Puerto Banús-Nueva Andalucía, and Los Monteros.

What influences the price of new construction in Marbella?

In addition to the general factors that determine the price per square meter of developments, such as supply and demand, the Marbella area has two important and decisive elements: foreign investment and national and international tourism.

In fact, 55% of buyers of this type of homes are foreigners. This figure, along with Marbella being one of the main tourist and leisure destinations on the Costa del Sol, affects the final price of these properties. In terms of the property itself, size, location, quality, and construction materials all make a difference in the final price.

Additional costs are found in common areas, such as a pool (in high demand in the area due to the high summer temperatures), gym, outdoor courts, good access to the development or the beach. A development right on the beach with private access is not the same as a block of flats in the city center.

What is the new construction real estate market like in Marbella?

The exclusive market of newly built homes in Marbella continues to grow, as does the demand for them. It is a market with a discreet supply compared to other cities on the peninsula, due to its topography and geographical limits, but with very high prices.

This coastal municipality has one of the highest average prices in the country. Apartments start at 500,000 euros and go up to over 1,500,000 euros, while detached houses or villas range between 2,000,000 and 4,000,000 euros.

Data collected by the Ministry of Transport, Mobility, and Urban Agenda shows that the total number of new construction property transactions in 2019 was 332, 322 in 2020, and 350 in 2021.

Despite their high value and the economic and social situation, newly built properties remain a great attraction in the area, both for local and foreign residents. They are one of the favorite and privileged options in the Marbella real estate sector.

What is the importance of buying new-build apartments compared to second-hand houses in the city of Marbella?

Exclusivity, differentiation, and luxury. Buyers of these properties seek quality, ease of transactions, avoidance of renovations or delays, and above all, unique homes.

The most noteworthy aspect is the ability of new-build developments to respond to the needs, modifications, and demands of the users. Whether in-person or remotely, these properties give future owners ongoing contact with the situation of the home. This is really difficult to achieve with a second-hand property.

But the key differences between the two, and what makes new-builds superior, are: the guarantee of being the first occupant, the possibility of installing renewable energy options, new construction materials and insulation, garage and storage space, outdoor sports facilities, new architectural designs, and privileges such as private pools, access to the beach, or exclusive exits.

Where to buy new-build properties in Marbella?

Most of the new-build supply is located in:

In the district of Elviria-Cabo Pino, the most expensive set of properties in the entire locality is found. These are semi-detached villas with over 600 square meters, 6 bedrooms, garage, terrace, and private pool for 4 million euros. In the same area, more affordable houses are also available, although not on the beachfront. The apartments range from 160,000 euros for 160 square meters and two bedrooms, to 800,000 euros for 3 bedrooms and 280 square meters.

In Marbella town, it is not possible to buy a property for less than 1,350,000 euros. The current constructions are independent villas costing up to 1,875,000 euros. All of them have a garage, terrace, private pool, and range between 380 and 450 square meters.

Nueva Andalucía is located right next to Puerto Banús, the area with the most luxurious shops in the entire municipality. Despite this, it is where the city's mid-priced homes are located. The reason? This neighborhood is located inland, and it is necessary to use transportation to reach some of the most famous beaches in the locality. A 100 square meter apartment can be purchased for 187,000 euros, 434,000 euros if it has more than 150 square meters, and up to more than 2,500,000 euros for the most expensive property in the area. This is an independent villa of over 600 square meters, with a private pool, two terraces, and private garage.

Los Monteros is one of the most sought-after areas due to its proximity to the golf course and being located on the Mediterranean Sea. The cheapest option is a duplex of 210 square meters for 400,000 euros, up to a sustainable independent villa of 700 square meters for 3,100,000 euros.