The Marbella Property Market and What You Can Find Here

By Paula Lopez Rodriguez May 2nd, 2025 · 7m. reading time

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A Deep Dive into the Options 

Marbella isn’t just a place, it’s a lifestyle. With its sun-soaked coastlines, chic beach clubs, historic old town, and lush golf courses, Marbella attracts an international clientele looking for more than just a home. They’re searching for a dream. But with so many types of properties available, the Marbella Property Market can feel overwhelming. Should you go for a newly built apartment? Take a risk with an off-plan investment? Fall in love with a key-ready villa that’s already been reformed? Or maybe buy an older house to renovate, or a plot to build your dream home from scratch?

I’ve spent weeks walking around Marbella’s many neighbourhoods, speaking with developers, builders, agents, and buyers. I’ve gotten my shoes dusty in La Zagaleta, taken notes in Nueva Andalucía, and sipped café con leche in San Pedro’s quieter corners. And what I’ve learned is this: each type of property has its own rhythm, its own challenges, and its own kind of magic. So let’s explore them in detail. 

Let’s start with newly built homes. Marbella’s new developments often boast state-of-the-art finishes, energy-efficient designs, sleek architecture, and resort-like amenities. Think infinity pools, gyms, co-working spaces, and concierge services. These properties are ideal for buyers who want a modern, hassle-free living experience with minimal maintenance. What you see is what you get, and the delivery is usually fast. However, they are often priced at a premium. You’re paying for that immediate comfort and clean aesthetic. Also, they tend to be located in newly urbanised areas, which may lack the soul of the older parts of Marbella. You’re buying into potential, a future lifestyle that might still be evolving.

See all newly built homes here. 

Off-plan properties are a strategic entry point into the Marbella property market, often allowing early investment at below-market prices. The promise is appealing: secure today’s price for tomorrow’s home, and sometimes even customize certain finishes. It can be a brilliant move, especially in a rising market. But this route requires patience and trust. Delays are common. Developers might tweak plans midway through, and what looks like a dream on paper can turn into a waiting game. Legal advice here is essential. Make sure the developer has the proper building license and bank guarantees in place. And while the taxes, including VAT and stamp duty, are higher than for resale properties, the long-term investment can be worth it if you’re ready for the ride. 

Then there’s the option many fall in love with: buying a reformed, key-ready property. These are often in prime locations, sometimes tucked into charming corners of Marbella’s older neighbourhoods or perched on hillsides with panoramic views. Someone else has done the hard work of reforming the house, installing new floors, modern kitchens, and fresh landscaping. You walk in, unpack your suitcase, and you’re home. This is especially appealing for buyers relocating or investing with rental returns in mind. But keep your eyes open. Not all renovations are created equal. Some so-called reforms are cosmetic at best, with new paint and lighting, while the plumbing or structural work might be untouched. A thorough survey is non-negotiable here. 

Example: 

Casa Valentino - Unique Luxury Mansion with panoramic views in La Zagaleta, Benahavis  

For the creative souls, or those who want something truly theirs, buying a house in need of renovation can be the most rewarding path. There’s something romantic about restoring an old Andalusian villa or updating a tired townhouse in the heart of the city. It’s not for the faint of heart, though. Renovation in Marbella comes with its own dance of permits, timelines, and contractor relationships. The town hall’s bureaucracy can be slow, especially if you need major structural permits. Costs often exceed expectations. But if you get it right, with a good architect, a solid team, and a pinch of patience, you can create a unique masterpiece that reflects your style and possibly even adds real value. 

Example: 

Villa Cisne - Frontline Beach 10-Bedroom Mediterranean Villa with renovation potential in El Paraiso Barronal, Estepona  

And finally, the boldest move: buying a plot of land to build your dream home. This is Marbella in its purest entrepreneurial form. You get to shape every corner of the house, from where the sun hits the pool to how high the windows stretch toward the sea. However, this is also the longest, most complex path. You’ll need to navigate zoning laws, obtain building licenses, and work closely with architects and engineers. Costs can spiral. The town hall has recently tightened regulations in some areas, and infrastructure like water or electricity isn’t always a given. But for those who can manage the process, or hire a trusted project manager, it can be the ultimate Marbella story: turning land into legacy. 

Example: 

The Courtyard - Exclusive Sea and Mountain Views Plot with South Orientation in Sierra Blanca- Marbella 

There’s also a layer most people overlook when choosing between these options: the tax implications. New builds and off-plan properties in the Marbella property market are subject to 10% VAT and 1.2% stamp duty, while resale homes carry a 7% transfer tax. Renovation projects might require 10% VAT on construction costs, and professional services like architects and project managers also carry VAT. If you build a house, you may qualify for lower taxes by structuring it through a company, depending on your circumstances. That’s why speaking with a local tax advisor is crucial, before you sign anything. 

See our taxes guide. 

Time is another factor to weigh. Buying a key-ready home in the Marbella property market can mean moving in within weeks. Off-plan might take one to three years. A renovation could range from six months to two years, depending on the scope. Building from scratch could stretch even longer, especially if permits are delayed or construction hits snags. Your timeline should guide your choice, especially if you're planning to relocate with family, rent the property, or time your investment for market cycles. 

At the end of the day, Marbella offers a property type for every kind of buyer. Whether you’re after instant luxury, a creative project, or the freedom to design from the ground up, the city has it. But Marbella is not just about the property. It’s about lifestyle, whether that means waking up to the sound of waves, sipping wine under your olive tree, or walking to dinner in the old town without needing a car. 

So take your time. Walk the neighbourhoods. Talk to locals. Visit properties at different times of the day. Feel the sun, smell the sea air, and let the city speak to you. 

Because in Marbella, you’re not just buying bricks and mortar. You’re buying into a lifestyle, a dream, and choosing how you want to live it. 

If you want to share your opinion with us, or get a guidance from one of our in-house experts, let's connect!