Marbella is a city located near the coast of Southern Spain, making it a part of the Andalusian region. With an extravagant backdrop offered by the Sierra Blanca Mountains and sandy Mediterranean beaches providing a perfect spot for villas and luxury resorts, the city of Marbella has much to offer.
The Western region is home to prestigious nightclubs and magnificent coastal estates full of luxury yachts and other upmarket bars and boutiques, providing an unrivalled luxury lifestyle that is desired by many. The location of Marbella is ideal for people who love sun-drenched points and inland forays. Its rich history and beautiful architecture have made it a hot vacation spot as well.
Property in Marbella
The real estate properties in Marbella are very diverse. The historic town of Marbella has a variety of traditional townhouses which line the sunlit streets overlooking several beautiful churches. In other areas, there is an eclectic mix of modern and resale apartments, penthouses, villas and townhouses, which ensures that you can find your dream luxury home in no time.
The most sought after location for investment properties and luxury residences in Marbella is situated in the Golden Mile. It is exclusive and consists of lavish hotels, beachside homes, lush tropical gardens, and modern villas equipped with gyms, cinema rooms, jacuzzies, concierge services and round the clock security services.
The property in Golden Mile is very high as the demand from buyers for luxury real estate increases internationally. The most valued properties in the Golden Mile are the beach houses which are in short supply. Marbella has a reasonably stable rental market which makes it an ideal location for a significant investment.
There is a wide range selection of properties for sale which suit different tastes, budgets and lifestyles from modern penthouses to luxurious private villas with their own tropical gardens; all located in highly secluded and gated neighbourhoods to ensure privacy and security. Thus, it comes as no surprise that they command premium prices.
The Marbella real estate market has experienced extraordinary growth in recent years with both Spanish and foreign buyers who are looking for a high-end residence. There is a one year occupancy season, and many areas are being developed further to give a further boost to this momentum.
The Buying Process
The real estate buying process in Marbella and in Spain is summarized below:
Putting Down A Holding Deposit
After finding your desired property, you must negotiate your buying terms, including the price and conditions with the property owner. This process is not yet binding. After an agreement has been reached, the buyer must provide a holding or reserve deposit to remove the property listing from the market, which is usually 10% of the sale price. A pre-agreement is set up laying everything down.
Signing The Final Contract
International buyers will need to set up a Spanish bank account and acquire a tax number (NIE). The process must be completed in front of a notary public. When the contract has been signed, the buyer must pay the agreed-upon price, including any other third-party fees to gain ownership of the property. A copy of the agreement must be sent to the tax office as well to maintain the record.
Marbella provides the perfect opportunity for international investors to buy a home in one of the most desirable locations in the world.