How much are homes in Marbella? The answer depends on two main factors one is what do you consider a luxury home and two what area the home is in. The average starting price of a high-end home worldwide is €2 million, varying from less than €1 million in Costa Rica to more than €10 million in Monaco.
The national average price for a luxury home in Spain is substantially less, at approximately €1.2m, however in the most desirable areas of Marbella the average price is comparable to London or Monaco rather than the rest of Spain, areas such as Sierra Blanca, The Golden Mile, Puerto Banus and La Zagaleta have an average Price of €6,000,000 however these are select areas with homes available up to €20,000,000 +, if you consider The Marbella and surrounding areas of Estepona and Benahavis as a whole the average price of a Luxury Villa drops to around €3,000,000, now this is where things can get a bit tricky, as the classification of “Luxury home” has changed in recent times leaving a lot of vendors playing catch up. Nowadays a luxury home is not just about the size and location but also to do with extra features such as underfloor heating, high end appliances, rainwater showers and built in storage features such as floor to ceiling doors and windows are a must now, however unheard of 20 years ago.
Whereas a large beautifully designed villa was classed as luxury 20 years ago if that same villa has not been fitted with the latest technology and mods cons people are finding it hard to command the same price as a smaller villa in a less desirable area that is fitted with all the latest features. It seems we are entering a time of homes becoming more like cars, in the sense that you can get a base model, or one with all the added extras and what may seem like a luxury home from the outside may not be considered luxury anymore in this tech era.
With the Spanish Market being stagnant for the best part of a decade the explosion of development in the past 2 years has seen many modern properties come to market.
In recent times, there has also been an increase in super luxury villas for the €5,000,000+ which also drives interest and buzz around the luxury property market, even an average 3 bedroom modern villa is hard to find under €1m, in all parts of the Marbella areas.
With the demand for a home in the sun as strong as ever new developments are also in high demand a lot of people like the security and ease of a lock up and leave apartment in a safe and well maintained development, apartment prices can vary significantly anywhere from €300,000 to over a million euros for a 2 bedroom apartment depending on location views and complex features.