A Guide to Buying a Second Home in Marbella
All the information you need to know about the location and potential properties for non-Spanish residents.
Owning a property in Marbella can be the perfect eye opener to some of the best luxury living, rich culture and stunning scenery. Becoming known as the jewel of Costa del Sol, Marbella is located on the southern coast of Spain and is packed with everything you could want. Supporting 320 days of sunshine, Marbella has become a hot spot for second homes as all year-round sunshine adds the perfect touch to your new property. Those seeking a luxury and exclusive lifestyle have made parts of Marbella what they are today, flooded with high end real estate, endless boutique and exclusive resorts
Diversity within Marbella is also very apparent, so if luxury isn’t within your budget there are also several laid-back, family orientated areas which hold more of Marbella’s original Spanish culture, bursting with amazing food spots and beaches to visit.
Budget and financing options
As Marbella has such a diverse property market pricing varies on location, size and amenities nearby, so if luxury is your lifestyle, then head toward the Golden Mile and Puerto Banús and for relaxation check out Nueva Andalucia and Elviria.
Legal Considerations – Within Spain foreign buyers can obtain a mortgage, typically ranging from 60/70% of the property value but make sure to speak with local mortgage broker to understand fully all the lending criteria they require. The legal aspect of buying a property in Spain is also very important and must be considered as there are a few specifics you will need! A NIE number (tax identification number) is required for all financial transactions, therefore it is also wise to hire a respectable lawyer who specialises in Spanish real estate to help you long the way, checking for outstanding debts and making sure all permits are in place.
Fees and taxes are a given when buying any property and when buying in Marbella there are a few to factor into your budget. Notary fees, property transfer tax (7/10%) and registration costs are the mains ones to consider as these all add up to around10-15% of the property purchase price, so researching them is essential.
Location
Choosing the right location in Marbella can really make a difference to the price range of the properties so here are a few to help you navigate your way around.
Golden Mile is one of the more prestigious residential areas in Marbella, sporting several luxury villas, exclusive restaurants and shops. Here you will find the best hotels, some of the resorts most expensive properties and undoubtedly the nicest beachfront promenade on the Costa del Sole.
Puerto Banús is another supporting several luxury attributes like a beautiful marina and shopping complex that has become one of the largest entertainment centres in the Costa Del Sole very popular with international celebrities. Properties here will supply you with a lively atmosphere as is known for its vibrant nightlife.
Nueva Andalucia is a more laid- back approach when it comes to buying in Marbella but still scores high with amazing golf courses and scenic views. This area is seen as more family friendly and where most tend to have permanent residence or an ideal place for retirees.
La Zagaleta is the most luxurious and private location for living in Marbella, with several gated community. This area is defiantly for elite living as its only filled with some of the most prestigious villas in Costa del Sole.
East Marbella is another stunning part of Marbella but on a more affordable scale, still filled with amazing beaches, shops and culture, areas like Elvira and Monteros are very popular with family and is seen to have everything just a short drive away.
Conclusion
Buying your second home abroad should be an exciting and potentially lucrative decision, so finding the right one is crucial. With careful planning lots of research and a full understanding of the local market you should be well on your way! Start by checking out our website as we have a few stunning listings in Marbella that might catch your eye.
