The Marbella Property Magazine Volume 16

PUBLISHED BY PANORAMA, MARBELLA’S LONGEST ESTABLISHED REAL ESTATE AGENCY

Marbella Property Market Report 2026

100 of Marbella’s most elegant homes for sale & rent

Branded residences: the new language of luxury

Step-by-step Buyer’s and Seller’s guides

PUENTE ROMANO Panorama Sales Office next to the reception of the Nobu Hotel at Puente Romano Marbella

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OPPOSITE THE MARBELLA CLUB Panorama Headquarters opposite the Marbella Club Hotel (upper level, private client parking)

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A letter from the mayor Once again, it is a true pleasure to address the readers of The Marbella Property Magazine, which has become an integral part of Marbella’s identity.

Year after year, Panorama’s publication offers not only a reflection of the exceptional real estate market of our city, but is also a testament to the passion, professionalism, and commitment that define Panorama – Marbella’s longest established agency and a trusted reference in the sector.

This year is even more special, as we celebrate a remarkable milestone: the 55th anniversary of Panorama. For more than half a century, Panorama has been synonymous with quality, integrity, and excellence, the very values that define Marbella and that have helped shape its international reputation.

Ángeles Muñoz, Mayor of Marbella

As Mayor, and on behalf of the city, I would like to congratulate Panorama on this impeccable track record and, above all, express our gratitude for having been, and continuing to be, a key contributor to ensuring that the Marbella brand shines brightly.

We continue to project ourselves to the world as a trusted destination full of investment opportunities, and we have always had the good fortune of having prestigious ambassadors to promote our strengths— such as the driving force behind Panorama, Christopher Clover, together with his children Alex and Katinka.

With their outstanding team, this leading real estate firm has been a catalyst for Marbella’s development and international projection over the decades, and we are confident that it will remain so in the exciting future that is already taking shape.

From the Town Hall, we remain committed to implementing strategies that position us at the forefront, with a constant focus on delivering first-class services. In this regard, we continue to take firm steps towards implementing a new urban development plan as soon as possible.

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Our goal is to streamline and modernise planning regulations, in accordance with regional legislation, through a new General Plan that will also promote a more sustainable Marbella, encourage job creation, and strengthen our infrastructure and economic activity.

All indicators show that our city continues to be a unique destination to visit, to live, and to invest in. In the first quarter of 2025 alone, urban development projects represented an investment of 72 million euros—an increase of 34% compared to the same period last year.

These excellent economic results are the outcome of strong and successful collaboration between entrepreneurs and public institutions. The alliance between the public and private sectors is essential for Marbella to continue being the benchmark of leadership and quality of which we are so proud. Once again, thank you to Panorama for its invaluable contribution to making Marbella a global point of reference.

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VOLUME 16

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The Marbella Property Market Report 2026

46

55 years: Marbella’s longest established real estate agency

58

Buyer’s Guide

62

Our Associations

66

Seller’s Guide

72

Top 10 Reasons to choose Panorama

74 Meet the Panorama Team 77 Marbella’s Finest Properties 102 Branded Residences 114 Puente Romano 128 Golden Mile Properties 160 Nueva Andalucía & P. Banús 178 San Pedro, Guadalmina & Casasola 186 Benahavís, La Quinta & La Zagaleta

204 New Golden Mile 212 Marbella East 220 Rental Properties & Event Villas to rent 234 Aerial Maps of Marbella

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The Marbella Property Magazine is brought to you by Panorama, Marbella’s longest established real estate agency.

The Panorama Team, Summer 2025

Published by Panorama Properties S.L.

Fecha de Publicación: octubre 2025

transmitida o retenida en ningún tipo de

Editor-in-Chief: Cheryl Gatward

Domicilio Social: Edif. Centro Expo, Blvd.

Alfonso de Hohenlohe, s/n 29602 Marbella, Málaga, España

sistema de almacenamiento o de recuperación

Depósito Legal: MA-4432004

razonablemente posible para asegurarse de

Professional Photography: Charly Simon, Kevin Horn, Pedro Jaén, Daniel Posner, Sophie Gatward-Wicks, MiMove, Ignacio de Salas, Alfredo Mardo

PANORAMA y el logotipo de Panorama son marcas registradas. Marbella Property Magazine es una marca registrada.

que la información contenida en la presente

Impreso en España por Monterreina.

perjuicio sufrido, de la forma que fuere, por

Front Cover Image: Charly Simon

Copyright © 2025 Panorama Properties S.L. Todos los derechos reservados.

información aquí incluida. Tampoco se acepta

Editors: Christopher Clover, Katinka Clover Design, Layout & Production: Next Idea S.L.

Contributors: Christopher Clover, Alex Clover, Carolina Alaniz, Lorena Alaniz, Alfonso Muñoz Advertising enquiries: Katinka Clover, Tel: (+34) 952 774 266

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Ninguna parte de la presente publicación, su formato o la información en ella contenida puede ser reproducida, vendida, traducida,

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de información sin el consentimiento previo por escrito del editor. Se ha hecho todo lo

publicación sea exacta. No se acepta, sin embargo, responsabilidad alguna por cualquier cualquier sociedad o persona que confíe en la responsabilidad alguna por cualquier error u omisión o cambio en la información contenida en la presente publicación.

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Marbella PROPERTY MARKET REPORT 2026

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Since the 1950s, Marbella has evolved into one of Europe’s most distinctive resort destinations, with one of the world’s most resilient property markets. Here, real estate transcends mere investment, embodying the lifestyle, aspirations and enduring allure of Marbella as a world-class destination.

In this report, we explore the key trends and forces shaping the market today, the challenges that come with an evolving landscape, and the outlook for steady, controlled growth in the years ahead.

By Christopher Clover, Managing Director, Panorama Properties

page 8 Market overview 11 Tourism: a year-round engine of growth 14 Key property market indicators 18 Real market evidence 31 The rental landscape: key trends in 2025 33 Other factors affecting the market 41 Looking forward Christopher Clover has been writing about the Marbella Property Market for over 55 years

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MARKET OVERVIEW

MARBELLA PROPERTY MARKET REPORT 2026

Market overview The new normal The last twelve months have reinforced a pattern of enduring strength, one that has outpaced the cautious outlooks that followed the post-pandemic boom.

Where many expected a cooldown, Marbella instead deepened its standing as a safe haven. The market’s resilience is no longer just a consequence of past momentum, it has become the new normal.

Marbella has stepped onto the world stage as never before and is increasingly recognised alongside global hubs like Dubai and Miami, in addition to every famous resort destination in Europe, for its luxury lifestyle and real estate appeal, despite its far smaller scale.

Marbella is a city thriving at the forefront of its evolution, with a significant potential for sustainable and controlled growth: investment is pouring in, tourism figures continue to be strong, infrastructure projects are being accelerated, and planning regulations are adapting to achieve these ends.

Marbella’s position as a global, ultra-luxury destination There are few destinations in the world today that can match Marbella’s transformation over the past decades. The city has not only entered, but has consolidated its place among the global elite of ultra-prime residential resort locations. This evolution is not merely symbolic: it is reinforced by international awards, high-end development, Michelin accolades, and the ever-growing presence of a truly cosmopolitan community.

In 2024, Marbella was voted “Best Overall Destination in Europe”

by European Best Destinations,1 based on over a million traveller votes from 172 countries, a title that highlights the city’s broad appeal and unmatched lifestyle. This followed its earlier recognition as second place winner in the same category in 20222, surpassing Monte Carlo, Capri and other renowned enclaves. Accolades such as these reflect the global spotlight now firmly shining on Marbella as a widely recognised, year-round destination.

The market’s resilience is no longer just a consequence of past momentum, it has become the new normal

1. European Best Destinations, 2024 2. European Best Destinations, 2022

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World-class luxury hospitality Marbella’s luxury hospitality offering continues to thrive at the highest level. The Marbella Club Hotel, that celebrated its 70th anniversary in 2024, was awarded two Michelin Keys, the prestigious new distinction introduced by the Michelin Guide to recognise exceptional hotels offering outstanding hospitality.

In parallel, the Puente Romano Marbella resort has emerged as a culinary epicentre of the Costa del Sol, hosting over 20 restaurants, including world-renowned names such as Cipriani, Nobu, Coya and Gaia. The opening of El Pimpi in May 2024, led by part-owner Antonio Banderas, added a touch of Andalusian authenticity and celebrity glamour to an already glittering scene.

Marbella has become a gastronomic powerhouse, with multiple Michelin-starred establishments such as Skina, Messina, Nintai and Back3 and a long list of fine dining experiences that now compete with the best in Europe. In fact, the city’s dining, entertainment, concerts, wellness and fashion

offerings are increasingly the reason why visitors transition from holidaymakers to part time, or permanent, residents.

An essential element of this prestige is the city’s large percentage of international residents. As of January 2025, almost one-third of Marbella’s 166,999 officially registered residents are foreigners, according to the Municipal Register of Residents, from 152 different countries4. To this figure one must add between 75,000 and 100,000 foreigners living in Marbella as residents, or part time tourists living in their own homes in the winter months, as well as those others staying in hotels and rented accommodations, who form the basis of Marbella’s floating “unregistered” population5, reflecting the truly global nature of this community.

As of January 2025, almost onethird of Marbella’s 166,999 officially registered residents, according to the Municipal Register of Residents, are foreigners from 152 different countries

MARKET OVERVIEW

MARBELLA PROPERTY MARKET REPORT 2026

Branded residences The Costa del Sol, with Marbella at its forefront, leads Europe in branded residences6 and is a natural extension of its firmly established identity as a multinational hub for luxury

3. Michelin Guide 4. Excmo Ayuntamiento de Marbella: “The Marbella census maintains its sustained growth of recent years and will reach 166,999 inhabitants by the end of 2024”, January 7, 2025 5. Excmo Ayuntamiento de Marbella: “Demografía y Socioeconomía” 6. Sur in English: “Costa del Sol leads European market for luxury residences managed by big-name hotel chains”, August 25, 2025 Regulated by RICS

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MARKET OVERVIEW

MARBELLA PROPERTY MARKET REPORT 2026 living. Nowhere is this more evident than in Puerto Banús and the surrounding areas, where one can find an extraordinary concentration of prestigious global fashion brands, complemented by an equally impressive array of automotive brands. The presence of these world-recognised names underscores Marbella’s alignment with international standards of excellence and positions the city as an ideal environment for the development of branded real estate projects.

Marbella’s luxury property landscape has been undergoing a seismic shift, driven in part by a wave of high profile branded residence projects. The upcoming Four Seasons Resort & Private Residences,7 designed by Richard Meier, includes a five-star hotel with 80 rooms and 40 suites, 136 private residences and 30 hotel residences consisting of villas, townhouses and apartments divided almost evenly. Starting prices for these properties are yet to be established and will only be announced when the project is officially launched, possibly in the first quarter of 2026, with construction scheduled to start at the beginning of 2027. The Marbella Four Seasons project cements Marbella’s appeal to a global luxury client. Indeed, just the presence of a Four Seasons in Marbella will attract many highnet-worth visitors who have not yet discovered the magic of Marbella.

In the area of the Istán Road, adjacent to the highly successful project Epic Marbella by Fendi Casa, there is Design Hills Marbella by Dolce&Gabbana (the highest quality and one of the best positioned projects ever to be offered in Marbella), close by are the striking Karl Lagerfeld Villas

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Design Hills Marbella

by Dolce&Gabbana

with five bespoke homes that merge sustainable materials with high fashion minimalism.8 In Nueva Andalucía, there are eight Versace Villas, spanning 2,000-squaremetre plots, with opulent design and five-star service.9 Then you have elite launches such as The Summit Marbella by Elie Saab in Cascada de Camoján, Lamborghini inspired Terra Viva in Benahavís, and lengthy pipelines including Marea by Missoni at Finca Cortesin, Aida furnished by Bentley, around the corner from Puente Romano, the W Resort Marbella by Marriott, which has been upgraded to one of their ultra luxury brands, either a St. Regis or Ritz Carlton10, and Angsana Residences at Real de la Quinta.

Simultaneously, the resale market has shattered records. Villas in Sierra Blanca and Cascada de Camoján now command prices that rival Europe’s most exclusive addresses, and include four of the ten most expensive residential streets in all of Spain. A fifth most expensive area included in this category is Coto La Zagaleta in Benahavís, part of the greater Marbella residential real estate market, and without a doubt, the most exclusive country club in Europe.11

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Just the presence of a Four Seasons in Marbella will attract many highnet-worth visitors who have not yet discovered the magic of Marbella

7. Panorama Properties: “The Four Seasons Resort Marbella”, August 12, 2025 8. Idealista: “Branded residences, the new real estate trend in Spain”, September 17, 2024 9. Idealista: “Versace enters Marbella’s luxury real estate market with 2,000m2 villas”, September 23, 2024 10. El Confidencial: “Marriott swaps Marbella’s future W for a super-luxury St. Regis or Ritz-Carlton”, November 25, 2024 11. El Economista: “El mapa de las 10 calles más caras para comprar vivienda en España”, August 21, 2025

Tourism: a year-round engine of growth Tourism has always been the driving force behind Marbella’s international success, not only as an economic driver, but as a powerful introducer of the city to the world’s most discerning travellers.

Of particular significance is the presence of residential tourism, the trend of international visitors acquiring second homes not only for holidays, but for extended seasonal stays or part-time living.

This movement began in Marbella in the 1950s, when visionary figures such as Ricardo Soriano, Marquis of Ivanrey, and his nephew Prince Alfonso von Hohenlohe introduced the town to a selective global audience, setting the standards for low-rise, low-density development and ensuring, together with the other “founders” of the city, that Marbella would never become overdeveloped like many other resort destinations in the Mediterranean Basin. Over time, what began as an elite holiday destination evolved into a form

of long-term investment, rooted in quality of life, security, climate and cosmopolitan appeal. Today, residential tourism remains one of the most influential forces shaping Marbella’s urban growth, economy, and real estate market.

Record-setting number of visitors In 2024, Spain welcomed a recordsetting 94 million international tourists, the highest ever recorded – an increase of approximately 10 percent over 2023’s 83.5 million arrivals12 surpassing even the prepandemic benchmark of 2019.

Today, residential tourism remains one of the most influential forces shaping Marbella’s urban growth, economy, and real estate market

TOURISM: A YEAR-ROUND ENGINE OF GROWTH

MARBELLA PROPERTY MARKET REPORT 2026

In 2025 this strong upward trajectory continued. By the end of June, 2025 over 52 million international travellers had visited Spain, a 6.4 % increase over the first half of the previous year, with projections pointing to nearly 100 million arrivals by the end of 2025.13 As far as hotel-based tourism in Marbella is concerned, 2024 closed with record local tourism with the

12. INE Instituto Nacional de Estadística: “Estadística de Movimientos Turísticos en Fronteras”, February 3, 2025 13. Hosteltur: “España se encamina a lograr 100 millones de turistas extranjeros en 2025”, June 10, 2025 Regulated by RICS

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TOURISM: A YEAR-ROUND ENGINE OF GROWTH

MARBELLA PROPERTY MARKET REPORT 2026 best hotel occupation and hotel profits in its history.14 While the first half of 2025 saw a slight dip in overall tourism to Marbella, due principally to fewer domestic visitors15, a strong recovery in July, with 85,697 visitors, up by 11.9% from July 2024, underscores Marbella’s enduring appeal to international tourists.

In August 2025, however, Marbella hotels reached a new, historical high in hotel profitability with a 32% growth in two years, and a 15% increase in job creation and a 5.5% increase in occupation compared to 2024.16 There were also 89 hotels of all categories open in Marbella in the summer of 2025, 20 more than in 2024. Both these facts reaffirm the overall strength of Marbella as a very strong tourist destination.17 Tourism in Marbella is no longer merely a summer phenomenon but is gradually spreading throughout the entire year, a trend that is also beginning to take shape across other resort cities in the Mediterranean Basin.

This underscores what is already abundantly clear to those of us that live here: Marbella is not experiencing overtourism, unlike many larger cities in Spain and around Europe.18 As Mayor Ángeles Muñoz affirmed recently, “We are focused on consolidating a model that prioritises quality over quantity, and where the concept of luxury is a differentiator, offering visitors an exceptional experience in a unique location.”

This strategic vision continues to strengthen Marbella’s positioning as a world-class destination, with tourism serving as both a key

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economic engine and a gateway to long-term residential investment.19

Airport accessibility No luxury destination can thrive without first-class accessibility, and Marbella’s continued success as a global residential resort, together with that of the entire Costa del Sol, is inextricably linked to the exceptional performance of Málaga Airport, the region’s primary gateway. In 2024, Málaga Airport broke all previous records, with 24,923,774 travellers, 174,915 flights, and an amazing 155 direct destinations.20 In the first half of 2025 a record number of 11,494,109 passengers were registered – bringing the airport closer to its estimated maximum capacity of 30 million passengers per year. This exponential growth reflects both increased connectivity and the surging global interest in southern Spain.

The airport set a new benchmark this summer, with up to 60 private flights a day. The remarkable rise of executive aviation reflects not only the influx of high-net-worth holidaymakers, but also a growing number of business travellers drawn by the region’s dynamic economy. 21 Together, these factors reinforce the Costa del Sol’s position as one of Europe’s most prestigious and accessible destinations.

Plans are already underway for a major expansion of the airport’s capacity by the end of the decade as elaborated in a later section of this report.

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14. Excmo Ayuntamiento de Marbella: “Marbella closed 2024 with record tourism figures and achieved the highest occupancy and best hotel profitability in its history.” February 2, 2025 15. SUR: “Domestic tourism down 34%, but hotel profitability in Marbella remains stable.” August 5, 2025 16. SUR: “Marbella registra en agosto nuevos máximos históricos en rentabilidad hotelera” September 28, 2025 17. Marbella24horas.es: “Marbella recuperó turistas hoteleros en julio gracias a los extranjeros.” August 23, 2025 18. The Epoch Times: “Never-Ending Summer is Changing Mediterranean Holidays”, August 15, 2025 19. Excmo Ayuntamiento de Marbella: “La alcaldesa afirma que “la sostenibilidad transversal ha sido clave para consolidar a Marbella como referente de calidad y excelencia”, April 23, 2025 20. Aena: “Destinos del Aeropuerto de Málaga-Costa del Sol” 21. SUR: “El aeropuerto de Málaga alcanza un récord de hasta 60 vuelos privados al día en verano”, September 11, 2025

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Airport services In 2024, a new suite of VIP services was introduced by Ambaar Lounge in Terminal 3, including private check-in, fast-track security, luxury lounge access, and direct transfer to aircraft.

Málaga Airport is also set to pioneer Spain’s first electric drone air-taxi service, connecting passengers to nearby areas such as Granada and Marbella.22 The aircraft will initially be flown by pilots, with autonomous operations planned for the future.

A 15-20 minute route to Marbella is scheduled for 2030, pending technological and regulatory advancements.

The increase in direct flights from the United States, Canada and the five different cities of the Middle East has also played a significant role in opening up Marbella to new, high-net-worth markets.

North American tourism, once limited and seasonal, has become more consistent, thanks in part to targeted promotions and Marbella’s strategic alignment with luxury travel networks.

Lifestyle: the real wealth of Marbella With so much investment on all levels, Marbella has become a very wealthy city. Yet, an important part of the real wealth of Marbella is not just material, but a result of the innumerable different types of lifestyles available, and especially the outstanding example (among many notable failures in Europe) of a multicultural society where so many people from so many different nationalities are living together in harmony.

As our Mayor, Ángeles Muñoz,

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recently stated, “Marbella distinguishes itself from other resort destinations by offering a one-ofa-kind blend of world-class hotels, residential properties, services and facilities, solidifying our position as one of the most significant resort cities in the world.” 23

North American tourism, once limited and seasonal, has become more consistent, thanks in part to targeted promotions and Marbella’s strategic alignment with luxury travel networks

TOURISM: A YEAR-ROUND ENGINE OF GROWTH

MARBELLA PROPERTY MARKET REPORT 2026

Marbella also continues to attract creatives, designers, chefs and lifestyle trendsetters, many of whom are inspired not only by the natural beauty of the region, but by the exceptional quality of its light, architecture as well as its growing cultural atmosphere. This unique energy is one of the hidden drivers behind Marbella’s growing lifestyle economy.

Marbella’s lifestyle offers freedom of movement, closeness to nature and a profound sense of well-being, qualities now more sought-after than ever before in the postpandemic world.

The result is a city that provides something increasingly rare: a complete lifestyle, where leisure, business, family, wellbeing and personal growth intersect seamlessly.

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22. EuroWeekly News: “Malaga airport first to offer drone taxis”, May 27, 2025 23. Letter of Introduction to The Marbella Property Magazine vol. 15, August, 2024 info@panorama.es

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KEY PROPERTY MARKET INDICATORS

MARBELLA PROPERTY MARKET REPORT 2026

Key property market indicators Comparing year-on-year sales, Marbella, Estepona and Benahavís have seen sales as follows: Year

2007 2008 2009

2010

2011

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 593

2022

2023

2024

Benahavís 633

438

559

422

311

859

1,128

1,068

801

Estepona

2,581

1,721

1,086

1,154

1,248 1,490 1,673 2,113 2,044 2,114 2,673 2,505 2,321 2,517 3,137

3,647

2,666

3,162

Marbella

3,568 2,116

2,199

2,389 2,259 2,519 3,115 3,997 4,390 3,998 4,275 4,070 3,676 2,563 4,628

5,513

4,509

4,745

Total

6,782 4,275 3,844 3,965 3,818 4,602 5,321 6,821 7,167 6,736 7,447 7,198 6,626 5,536 8,624 10,288 8,243 8,708

533

711

733

624

499

623

629

456

Source: Ministerio de Transportes y Movilidad Sostenible (formerly Fomento) https://apps.fomento.gob.es/BoletinOnline2/ (Transacciones inmobiliarias (compraventa)) Kindly note that the statistics above show the number of residential properties sold each year as per the title deeds issued at the notaries, and exclude properties sold off-plan or under construction as well as government protected housing.

The Marbella real estate market has entered a new phase, one that is defined not by short-term booms or speculative cycles, but by long-term structural strength.

The period following the pandemic might have set new records, but what has followed is even more remarkable: a high-level market characterised by robust demand, limited supply, and increasingly discerning buyers.

In 2024 a total of 695,545 property sales were registered across Spain, an increase of 8.9% over 2023, with foreigners representing around 14.5% of the total. In the “Golden Triangle” 2024 closed with 8,708 property sales: Marbella recording 4,745 transactions, Estepona 3,162, and Benahavís 801, as reflected in the above table. This shows a healthy increase of 5.65% over 2023, and a 31.42% increase over the pre-pandemic year of 2019.24 The first semester of 2025 (statistics available at the date of publication of this report)25, for the three municipalities has shown interesting market movement, and is almost exactly on the same sales level for the first half of the year compared with the same period in 2024, at a 14

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total of 4,293 sales in the first half of 2025 versus 4,232 last year.

The first quarter of 2025 also showed a sales level similar to that of the last quarter of 2024, with the total of Marbella, Benahavís and Estepona sales descending an insignificant 3.4% from the prior quarter.

In the second quarter (provisional statistics), the sales in the three municipalities descended by 8.3% compared with the first quarter, with Estepona leading the drop of 13.2%, followed by Marbella at 6.3% and a slight improvement in sales in Benahavís of 2.6%.

The Marbella real estate market has entered a new phase, one that is defined not by shortterm booms or speculative cycles, but by longterm structural strength

Overall, sales numbers and percentages of change are summarised in the table on the opposite page.

The drop in sales in the second quarter of 2025 in Marbella and Estepona is a clear indication that the market is levelling out, a natural and expected result of the historic surge in sales in the post pandemic year of 2022. A contributing factor is that the strong demand in prior quarters has no doubt absorbed, for the moment, the best (and most reasonably priced) properties on the market. Evidence to this is a

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24. Ministerio de Transportes y Movilidad Sostenible (formerly Fomento): Transacciones inmobiliarias (compraventa) 25. Ministerio de Transportes y Movilidad Sostenible (formerly Fomento): Transacciones inmobiliarias (compraventa)

EVOLUTION OF RESALES IN MARBELLA, ESTEPONA & BENAHAVÍS, SINCE 2007

1,200,000

12,000

1,000,000

10,000 TOTAL 695,545 Used 634,088

800,000 600,000

TOTAL 8,708 Used 7,521

8,000 6,000

400,000

4,000

200,000

2,000

New

New

61,457 0 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

0

1,187

KEY PROPERTY MARKET INDICATORS

EVOLUTION OF RESALES IN SPAIN, SINCE 2007

07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Sales numbers and percentages of change, 2024/2025 City Benahavís

1st Q 25 vs 4th Q 2024 1st Q 2025 4th Q 24 186

193

3.76%

2nd Q 2025

2nd Q 25 vs 1st Q 25

1st Sem 2024

1st Sem 2025

1st Sem 25 vs 1st Sem 24

198

2.6%

419

391

-6.7%

Estepona

980

889

-9.3%

772

-13.2%

1,328

1,661

25.0%

Marbella

1,152

1,157

0.4%

1,084

-6.3%

2,485

2,243

-9.7%

Total

2,318

2,239

-3.4%

2,054

-8.3%

4,232

4,293

1.4%

report by Idealista, Spain’s most important property portal, on June 30, 2025 which stated that the number of homes for sale across the country dropped by 20%, year on year, the biggest drop that they have ever recorded.26 This drop is especially applicable to the Marbella area market due to the intense international demand in the area.

It is logical to conclude that the shortage of properties for sale is making it more difficult for buyers to find the exact property they want at the price they want to pay for it. This lack of product has resulted in some signs of buyer resistance noted, especially from the second quarter of 2025. Agents and lawyers are reporting that although the market, especially the prime, luxury market, is still strong, with a good rhythm of sales, viewings and enquiries on about the same level as 2024, buyers are taking longer times for decision-making, negotiations are Regulated by RICS

more complicated and drawn-out, and there is greater scrutiny of all details, including construction quality with new or refurbished properties, than in the past.

The severe shortage of properties for sale is led by new builds as well as properties in all categories, both nationally as well as locally. Of the 695,545 property sales in Spain in 2024, only 61,457 (just 8.83%) were new-builds as per the graphs above. Compared with 20 years ago, in 2005, for example, there were approximately 306,000 sales of newly-built properties, over five and a half times the volume of newbuilds today.27 This stark decline highlights a deep and ongoing structural shortage in new housing supply both nationally and locally as well as a post-2008 market over-correction, with newbuild activity yet to recover to prebubble levels. www.panorama.es

26. Idealista: “Marbella housing prices already exceed 5,200 euros/m2 in July”, August 29, 2025

27. Ministerio de Transportes y Movilidad Sostenible (formerly Fomento): Transacciones inmobiliarias (compraventa)

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KEY PROPERTY MARKET INDICATORS

MARBELLA PROPERTY MARKET REPORT 2026 In Marbella, Estepona and Benahavís, newly-built properties in 2024 accounted for just 13.63% of all sales in the region. Within this, Marbella saw only 7.94% of sales of newly-built properties, Estepona 22.99%, and Benahavís 10.36%.28 A major limiting factor in this sense is the scarcity of building plots in the area’s most desirable residential areas. One should always bear in mind that newly-built properties are only recorded when the title deeds are issued, and most of them will likely have been sold by private contract months, or years before, thereby distorting the real sales figures for the period under examination.

Real, verified prices from the new Notarial Housing Portal The big news for this year is the creation of a new official portal developed by the notaries of Spain, the Portal Estadistico del Notariado29, offering information on the real estate market for the first time on a municipal level, based on actual sale prices and further data recorded in notarial deeds.

This information, up until now, has been available only on a national, regional and provincial level, and it provides much more than just prices. This free public tool provides detailed information that now allows buyers, sellers, investors and property developers to make decisions with far greater accuracy, security, and transparency.

This is something that Panorama has petitioned for over many years, and it is exciting to see this portal finally become a reality.

According to this new official source, the average real sale price per square metre in Marbella in the twelve months prior to September 2025, was €4,228 with the average price of €4,509 per square metre 16

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from July to September, 2025 and an increase in average prices in the whole municipality in 2024 of 12.59%. These are real transaction values, not asking prices, and therefore provide a far more accurate picture of what buyers are actually paying in the marketplace.

By comparison, data from the well-known listing portal Idealista, which served as an excellent guide until now, indicated average asking prices of around €5,400 per square metre in Marbella in September 202530.

Of course, the prices indicated in Idealista and other property portals are only as good as their own database of asking prices for properties in each area. The Notarial Portal now bridges this gap by publishing verified, deed-based data at the municipal level for the first time in Spain.

The new portal features interactive maps and statistical dashboards that display national, regional provincial and municipal data, as well as each postcode area, and allows users to filter by property type, size, and transaction volume.

All figures are drawn directly from notarised deeds of sale, aggregated and updated regularly, offering a reliable and transparent overview of real market activity.

For Marbella and the Costa del Sol, and indeed, throughout the country, this portal represents a major step forward. For the first time, agents, developers, and analysts can base their assessments on actual average prices, what buyers truly pay, and much more detailed information about buyers than ever before, resulting in more accurate valuations, more preciser pricing strategies, and better-informed decisions for all participants in the market.

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The average price per square metre in the Marbella area, according to Notary website:

Nagüeles-Golden Mile: €5,753/m2 Nueva Andalucía & Puerto Banús: €4,225/m2 Marbella Casco Antiguo: Divina Pastora, Miraflores €3,967/m2 Benahavís: €3,889/m2 Marbella East: Río Real, Bahía de Marbella, Altos Los Monteros, Altos Marbella €3,857/m2 San Pedro de Alcántara & Guadalmina: €3,734/m2 Estepona, New Golden Mile: El Padrón, Mar Azul €3,520/m2 Marbella East: El Rosario, Elviria, Marbesa €3,388/m2 Estepona, New Golden Mile: Benamara, Forest Hills, Alcazaba €3,122/m2 Estepona, New Golden Mile: Atalaya, Capmanario Paraíso, BelAir, Cancelada €2,765/m2 Estepona, New Golden Mile: Valle Romano €2,719/m2

28. Ministerio de Transportes y Movilidad Sostenible (formerly Fomento): Transacciones inmobiliarias (compraventa) 29. Portal Estadistico del Notariado 30. Idealista: “Evolution of housing prices for sale in Marbella”

Data on the Marbella area, with values from September 2024 to August 2025. Visit: https://penotariado.com/inmobiliario

Regulated by RICS

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KEY PROPERTY MARKET INDICATORS

MARBELLA PROPERTY MARKET REPORT 2026

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KEY PROPERTY MARKET INDICATORS

MARBELLA PROPERTY MARKET REPORT 2026

This new level of transparency marks an important milestone for the Spanish real estate sector.

Examples of the type of additional, valuable information provided by the new portal for the year up to September, 2025 are as follows: • Average age of buyers in Marbella: 52 • Percentage of buyers between 41 and 60: 54% (and further breakdown in accordance with age) • Average sales price throughout Marbella: €711,138 (national average is €210,361) • Average price on the Golden Mile (postcode 29602): € 1,085,457 • Average size of property sold: 168 m2 (national average is 113 m2) • Percentage of foreign buyers across the Marbella market: 63.14% • Percentage of purchases made by physical people as compared to companies; 77.75% • Nationalities of foreign buyers (see pie chart on page 30 for average Marbella, Estepona, Benahavís) • Surprise leading nationality of foreign purchasers in Estepona is 18

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the Dutch!

• The nationality section divides resident and non-resident foreigners as separate percentages of the whole.

• Distinguishing between new and resale properties as well as villas and apartments.

Never before have we had access to such precise market information, even broken down by postcode within each municipality. This new level of transparency represents a remarkable step forward, the result of the excellent work of Spain’s Notarial Council, marking a clear turning point in the availability of real estate data in the country.

Resale asking prices sometimes overly optimistic Due to the strong price increases of recent years and the consequent position of the market as a “sellers’ market”, coupled with the difficulty in finding reliable statistics with regard to real sales prices, until the 23rd October 2025 when the Notarial Statistic Portal was launched, some owners are listing their properties at overly ambitious prices.

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Above: Screenshot of the map and information page on Marbella from the new Notarial Housing Portal

For the first time, the British have lost their top slot in the Estepona municipality. The surprise leading nationality of foreign purchases in Estepona is the Dutch!

Some have gone too far, pricing their properties at a level that doesn’t even entice viewings. This imbalance tends to correct itself over time, as owners come to terms with the fact that while the market remains healthy it may not align with their expectations. Or with what they might have been led to believe by some agents more eager to secure the listing than to offer accurate guidance on real market value.

Sellers who want to ensure their properties get great market exposure and regular viewings should concentrate on pricing their properties realistically.

The key for both sellers and buyers seeking to understand real market value is to work with an agent who has the experience and knowledge to demonstrate real selling prices per square metre of comparable properties. This is the only reliable and objective method for determining current market value.

Will prices continue to rise?

In one word, yes, but probably in more moderation. Both in the luxury segment and across all levels of the residential and commercial sectors, including all land categories. And this trend is expected to continue for the foreseeable future for a variety of reasons: With respect to luxury properties priced between €2 million and €20 million or more: • The historic demand for properties in the luxury end of the market has reached new levels driven by high-net-worth and ultrahigh net worth buyers.

• The supply remains far below current demand, which continues to drive prices upwards.

• The well-known lack of zoned construction parcels in prime areas, Regulated by RICS

with steep price increases for those available for sale.

• The surging cost of construction, construction materials, and severe shortfall of specialised labour.31

Although prices are expected to continue to rise, we anticipate that given the sharp increases since the pandemic and the stabilisation of sales volume, price growth over the next year will most likely be more moderate

• The expansion of the luxury market for real estate worldwide due to a growing number of highnet-worth individuals and rising disposable incomes.32 • Changing perceptions of the home as both a sanctuary and workspace. The pandemic reshaped priorities with outdoor areas, home offices and flexible layouts becoming essential.

• Investors are continuing to expand their portfolios with highend real estate in prime areas around the world.33 • Even with price increases, Marbella prime property remains highly competitive compared with properties in Dubai or Miami or luxury properties for sale around the Mediterranean Basin.34 Properties below €2 million will also increase in price for many of the same reasons. Especially the demand exceeding the very limited supply, rising construction costs, and the easing of interest rates.

Finally, although prices are expected to continue to rise, we anticipate that given the sharp increases since the pandemic and the stabilisation of sales volume, price growth over the next year will most likely be more moderate. www.panorama.es

KEY PROPERTY MARKET INDICATORS

MARBELLA PROPERTY MARKET REPORT 2026

31. La Opinión de Málaga: “El sector de la construcción en Málaga requerirá de 40.000 trabajadores en cinco años”, August 1, 2025 32. Knight Frank: “The Wealth Report”, 2025 33. Knight Frank: “The Wealth Report”, 2025 34. Knight Frank: “The Wealth Report” 2024

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REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026

Real market evidence Real market evidence of square metre prices achieved To compliment the new price information from the Notary website, Panorama has compiled its own statistics based on real sales prices completed in the last months of 2024 and first eight months of 2025, offering a clear picture of the achieved sales prices per square metre across different residential areas of Marbella.

RESALE APARTMENTS These results highlight the increasing appeal of East Marbella among investors targeting high-end renovation projects. In last year’s report, this ranking was dominated by properties in Estepona’s “New Golden Mile,” Puerto Banús, and the Golden Mile itself.

In our latest review of selected resale apartments (excluding those located within Puente Romano or off-plan properties), several noteworthy trends stand out. · The appeal of Marbella East In the highest priced properties, we find the examples of exquisitely renovated, furnished, and decorated frontline beach apartments in East Marbella. At the high end of our survey, one such apartment achieved a record resale price of almost €20,000 per square metre, a new benchmark in this area.

The second and fifth most expensive on the chart also belong to properties in the same eastern region of Marbella, closer to the town centre, which fetched €17,000 and €10,000 per square metre, respectively.

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· Perfect penthouses The third and fourth most expensive properties are luxurious duplex and triplex penthouses, located in sought-after Golden Mile developments such as Monte Paraíso and the recently completed (2023) Benalús complex reaching resale prices over €14,000 per square metre.

The latter has seen a substantial increase in value, owing largely to its strategic location and the fact that it is near some of Marbella’s most desirable new developments, including Design Hills Marbella by Dolce&Gabbana, EPIC Phases I–III and the Karl Lagerfeld Villas. · Golden Mile, still golden On the other hand, properties in good or original condition, and even some refurbished homes, within consolidated Golden Mile developments like Señorío de Marbella and Coto Real, have maintained similar levels compared to last year, between €5,500 and €6,000 per square metre.

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At the high end of our survey, one frontline beach apartment in Marbella East that was exquisitely renovated, furnished and decroated, achieved a record resale price of almost €20,000 per square metre, a new benchmark in this area

Benalus, Golden Mile

La Morera, Marbella East

REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026

A SAMPLE OF APARTMENTS SOLD IN DIFFERENT RESIDENTIAL AREAS IN 2025 Porches: 50% - Terraces: 25% - Solarium: 25% La Gavia, ground floor 3,557 €/m2 beachside, to refurbish Las Terrazas de las Lomas, triplex 3,896 €/m2 close to beach, to refurbish La Quinta del Virrey, ground floor 4,456 €/m2 close to beach, refurbished

Golden Mile N. Andalucía Marbella East San Pedro

Las Terrazas de las Lomas, duplex 4,585 €/m2 close to beach, refurbished La Alzambra Hill Club, first floor 4,654 €/m2 close to beach, good condition White Pearl Beach, ground floor 4,673 €/m2 beachside, good condition King’s Hills, Duplex, ground floor 5,505 €/m2 close to beach, good condition Coto Real II, Duplex penthouse close to beach, refurbished

5,612 €/m2

Señorio de Marbella, first floor close to beach, to refurbish

5,685 €/m2

Condado de Sierra Blanca, first floor close to beach, good condition

6,126 €/m2

Playa Rocio, ground floor beachfront, to refurbish

9,390 €/m2

Río Real Playa, first floor beachfront, good condition

10,124 €/m2

Benalus, triplex close to beach, good condition

14,113 €/m2

Monte Paraíso, duplex penthouse close to beach, refurbished

14,321 €/m2

La Morera, duplex penthouse beachfront, refurbished

17,105 €/m2

Río Real Playa, duplex penthouse beachfront, refurbished

19,799 €/m2

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REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026 RESALE TOWNHOUSES

Among the higher priced townhouses in our sample study are recently built, or renovated, townhouses such as those in Arco Iris on the Golden Mile (which reached a record price for that complex of €7,295 per square metre), as well as projects like Marbella Senses – also on the Golden Mile – and a frontline beach townhouse in Pueblo Mediterráneo, East Marbella.

One of the best-located, beautifully renovated townhouses within the beachside development of Marbellamar, on the Golden Mile midway between Marbella and Puente Romano, reached a price of €11,031 per square metre.

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At the top of the list of townhouses, the Golden Mile leads with one of the best-located homes within the beachside development of Marbellamar, midway between Marbella and Puente Romano, reaching a price of €11,031 per square metre

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Above, the beachside Marbellamar development, at the top of the list of townhouses

Arco Iris, Golden Mile

REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026

A SAMPLE OF TOWNHOUSES SOLD IN DIFFERENT RESIDENTIAL AREAS IN 2025 Basement: 60% – Garage: 30% – Porches: 50% – Terraces: 10% – Solarium: 10% Los Naranjos de Marbella close to beach, original condition

3,576 €/m2

Casco Antiguo close to beach, good condition

4,019 €/m2

Montepiedra close to beach, good condition

4,569 €/m2

La Quinta Hills mountainside, refurbished

5,622 €/m2

Jardines de las Lomas close to beach, good condition

6,207 €/m2

Lomas Pueblo close to beach, to refurbish

6,684 €/m2

Marbella Senses close to beach, good condition

6,685 €/m2

Arco Iris close to beach, refurbished

7,295 €/m2

Pueblo Mediterráneo beachfront, refurbished

7,947 €/m2

La Colina mountainside, refurbished

9,810 €/m2

Marbellamar beachside, good condition

11,031 €/m2

Golden Mile N. Andalucía Benahavís Marbella East Marbella Centre

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REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026 RESALE VILLAS

Villa for sale in La Zagaleta

In our villa sales sample study we included a villa sold in the prestigious Atalaya de Río Verde community adjacent to Nueva Andalucía and another in the community of Los Arqueros in Benahavís.

One was a resale in the recently completed project of semidetached villas, “Vilas 6,” (we include it here for its villa-like characteristics), reaching €12,634 per square metre.

The other was a villa unique for its location and high position within Los Arqueros with superb views over the golf, mountains and sea, but especially its unusually large plot size of over 4,000 square metres, achieving just over €10,500 per square metre.

views in La Zagaleta and a newlybuilt home in Los Almendros. These four sales ranged between €7,900 and €12,600 per square metre.

Interestingly, some smaller villas in Nueva Andalucía have, in some cases, achieved higher prices per square metre than much larger estates elsewhere, due, no doubt, to the enormous popularity of Nueva Andalucía with its strategic location right behind Puerto Banús, and surrounded by Marbella’s best golf courses.

Other notable villa sales include those in Benahavís – among them a grand estate with breathtaking

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Smaller villas in Nueva Andalucía have, in some cases, achieved higher prices per square metre than much larger estates elsewhere, due, no doubt, to the enormous popularity of Nueva Andalucía with its strategic location right behind Puerto Banús

Villa for sale in Atalaya de Río Verde

Villa for sale in Los Arqueros

REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026

A SAMPLE OF VILLAS SOLD IN DIFFERENT RESIDENTIAL AREAS IN 2025 Basement: 60% Garage: 30% Porches: 50% Terraces: 10% Solarium: 10% La Capellania Hill Club close to beach, good condition Rio Real Golf close to beach, to refurbish La Quinta, mountainside, to refurbish Mirador del Paraiso close to beach, good condition Marbella Club Golf mountainside, good condition Linda Vista Playa beachside, good condition El Higueral, close to beach, refurbished Guadalmina Baja beachside, good condition La Mairena, mountainside, good condition Hacienda de las Chapas close to beach, refurbished Rio Verde Playa - Golden Beach beachside, good condition Peñablanca close to beach, refurbished Los Flamingos close to beach, good condition La Finca de Marbella close to beach, good condition Los Almendros mountainside, good condition La Zagaleta mountainside, good condition Los Arqueros mountainside, good condition Atalaya de Río Verde, Vilas 6 close to beach, good condition

3,189 €/m2 3,515 €/m2 4,346 €/m2 4,406 €/m2

Golden Mile N. Andalucía Benahavís Marbella East Marbella Centre San Pedro

4,889 €/m2 5,538 €/m2 5,569 €/m2 5,865 €/m2 5,988 €/m2 6,401 €/m2 6,858 €/m2 7,063 €/m2 7,532 €/m2 7,630 €/m2 7,923 €/m2 8,951 €/m2 10,575 €/m2 12,634 €/m2 25

REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026 PUENTE ROMANO RESALES: IN A WORLD OF THEIR OWN There are 400 privately owned apartments, plus the properties of the Puente Romano and Nobu Marbella Hotels, in the area we know as Puente Romano: those in Marina Puente Romano – with its Japanese, Persian and Andalusian Gardens – and the adjacent Las Terrazas de Puente Romano, with 252 apartments altogether, the Puente Romano and Nobu hotel complex, which, in addition to its 287 hotel-owned properties has about 70 privately owned studios or one-bedroom apartments within the hotel complex, and Puente Romano Phase II, just to the east of the hotel, with 78 apartments.

Puente Romano has evolved into a distinct micro-market within Marbella, an ultra-prime enclave where pricing operates in its own world.

Apartment prices in Puente Romano consistently exceed even the most exclusive benchmarks across the Costa del Sol and most of Europe, driven by privileged beachfront access, the unmatched lifestyle offered by being adjacent to the Puente Romano resort and the ultra-prime beachside location midway between Marbella city and Puerto Banús – the heart of the famous Golden Mile.

As of September, 2025, there were 18 apartments for sale in Puente Romano, including ground, middle floor and penthouse units, with asking prices ranging between €2,4 million and €7,5 million.

From August 2024 to August 2025, the average selling price per square metre of fully refurbished properties sold in Puente Romano area, excluding beachfront properties which are in a different category,

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was €24,020 per square metre. For properties in need of refurbishment, the price reached was €19,039 per square metre.

Interestingly, just three years ago apartments available for sale in this area could be counted on one hand, but the wave of high-end refurbishments completed over the last two years has slightly outpaced current demand, creating short-term competition among sellers even though the demand for Puente Romano’s ultra-prime properties remains strong.

Even so, record-setting selling prices continue to define this market. One exceptional frontline beach apartment in the Persian Gardens, beautifully furnished and decorated, is reported to have reached almost €44,000 per square metre in March 2025, a price virtually unparalleled on the Spanish mainland and the highest ever recorded within the resort, surpassing last year’s record of €41,695 per square metre.

Across the different complexes within Puente Romano, asking price levels typically range from €14,800 to over €40,000 per square metre, depending on the exact location, orientation, finishes, date and quality of refurbishment, furniture and decoration, and, of course, views.

Currently, none of the small apartments in the original hotel complex of Puente Romano are for sale, and when one does come on to the market, it is usually snapped up in a few days.

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Puente Romano has evolved into a distinct micromarket within Marbella, an ultraprime enclave where pricing operates in its own world

Andalusian Gardens, Puente Romano Marbella

Persian Gardens, Puente Romano Marbella

REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026

A SAMPLE OF APARTMENTS SOLD IN PUENTE ROMANO, GOLDEN MILE IN 2025 Porches: 50% - Terraces: 25% - Solarium: 25% Terrazas de Puente Romano, ground floor beachside, good condition

14,861 €/m2

Hotel Puente Romano, first floor beachside, refurbished

20,537 €/m2

Marina Puente Romano, Jardín Japonés ground floor, beachside, good condition

20,540 €/m2

Marina Puente Romano, Jardín Japonés duplex penthouse, beachside, to refurbish

21,716 €/m2

UNO, duplex ground floor beachfront, brand-new

22,561 €/m2

Marina Puente Romano, Jardín Persa duplex penthouse, beachside, refurbished

23,308 €/m2

Puente Romano Fase II, ground floor beachside, refurbished

24,048 €/m2

Marina Puente Romano, Jardín Andaluz beachside, refurbished

24,101 €/m2

Marina Puente Romano, Jardín Persa beachside, refurbished

24,439 €/m2

Marina Puente Romano, Jardín Persa beachside, refurbished

24,598 €/m2

Hotel Puente Romano, first floor beachside, to refurbish

27,108 €/m2

Marina Puente Romano, Jardín Japonés duplex penthouse, beachfront, to refurbish

33,752 €/m2

Marina Puente Romano, Jardín Persa duplex penthouse, beachfront, refurbished

43,824 €/m2

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MARBELLA PROPERTY MARKET REPORT 2026 NEW DEVELOPMENTS – APARTMENTS New build apartments, Estepona

This section covers both sold and still-available units in new developments, whether offplan, under construction, or completed.

The properties selected aren’t meant to be compared directly, but instead provide a broader perspective into pricing across various projects, from gardenlevel apartments to penthouses.

New-build apartments At the top end, we find branded properties in prime locations such as the Golden Mile with prices ranging between €16,000 and €21,000 per square metre, in frontline beach complexes in Estepona above €15,000 per square metre, or inland, ultraprivate estates like Finca Cortesín or Benahavís priced between €7,000 and €10,000 per square metre.

In the townhouse segment, the leading properties include several reserved off-plan units in Nikki Living located in Nueva Andalucía, a new development planned as an aparthotel. Its success is in part due to perfect timing: these properties permit short term rentals, where the owner is restricted to two months personal use and obligated to rent out through the on-site property management team the rest of the year.

This is an attractive proposition for investors who have been affected by the recent limitations on new tourist rental licences implemented on July 1, 2025.

Here prices have reached around €10,000 per square metre.

Pricing across these new offerings remains varied, with some projects offering surprisingly competitive prices between €3,000 and €7,000 per square metre, an opportunity that should not be overlooked by savvy investors.

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Pricing across these new offerings remains varied, with some projects offering surprisingly competitive prices between €3,000 and €7,000 per square metre, an opportunity that should not be overlooked by savvy investors

Design Hills, Dolce & Gabbana

Epic

REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026

A SAMPLE OF APARTMENTS IN NEW DEVELOPMENTS IN DIFFERENT RESIDENTIAL AREAS IN 2025 Porches: 50% - Terraces: 25% - Solarium: 25% Vanian Gardens III, penthouse, close to beach, off-plan Almazara Forest, ground floor, mountainside, off-plan Santa Clara Homes, duplex penthouse, close to beach, off-plan Aruna, ground floor, close to beach, off-plan Soul Marbella Sunlife III, ground floor, close to beach, off-plan Salvia Phase II, second floor, beachside, off-plan Finca de Jasmine Sky Villas, duplex ground floor, mountainside, off-plan Real de la Quinta, duplex ground floor, mountainside, off-plan The View, first floor, mountainside, off-plan

3,067 €/m2 3,167 €/m2 6,115 €/m2

Golden Mile Istán Benahavís Marbella East Estepona San Pedro

6,391 €/m2 6,681 €/m2 7,105 €/m2 7,576 €/m2 8,066 €/m2 8,218 €/m2

The Sky Apartments, first floor, mountainside, off-plan

8,896 €/m2

Marea Interiors by Missoni, first floor, close to beach, off-plan

9,540 €/m2

Earth, second floor, close to beach, off-plan

12,842 €/m2

Tyrian, first floor, close to beach, off-plan

15,449 €/m2

Epic Phase II, duplex ground floor, close to beach, finished

15,981 €/m2

Design Hills, Dolce&Gabbana, third floor, close to beach, off-plan

21,159 €/m2

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MARBELLA PROPERTY MARKET REPORT 2026 NEW DEVELOPMENTS – VILLAS Again, branded residences dominate the high-end segment of newly-built villas, particularly those that are built on expansive plots.

We are now seeing some villas priced above €14,000 per square metre, and even up to €22,000 per square metre, marking a new chapter in Marbella’s luxury real estate prices.

category feature great architecture, quality of construction, finishes, and, often, decoration, making them some of the most beautiful homes in the world. Just the availability of these amazing residences is one of the many factors that attract high net worth clients to the area in the first place.

Despite the limited supply, the municipalities of Marbella, Benahavís, and Estepona offer a remarkable diversity of investment opportunities across all property types. The properties being offered today in the luxury

It is precisely in such a dynamic landscape that the role of experienced agencies with real professional credentials that know the market thoroughly becomes critical in finding just the right property for their buyer clients.

Demand at the top end remains unshaken In the luxury segment, which we define as properties priced over €2 million, both Panorama and other leading agencies report that less than 10% of these purchases involve financing, insulating the market from interest rate fluctuations and reflecting the purchasing power of Marbella’s clientele.

The percentage of foreigners, by nationality, that purchased in the Golden Triangle in the last 12 months Data taken from the new notaries web site: https://penotariado.com/inmobiliario In the Golden Triangle (Marbella, Estepona, Benahavís) 67.99% of all purchases were by foreigners and 32.01 % by national buyers.

BRITISH 16.04%

WHO IS BUYING?

DUTCH 14.53% OTHER 61.53%

8% S 3.7 % MAN R E G .94 S4 N IA LG BE

In 2024, British, Dutch, and Swedish nationals dominated the foreign buyer landscape in the Málaga province. Collectively, foreigners accounted for 34.75% of all of the property transactions in Málaga in the first quarter of 2025, over two and a half times the percentage of foreigners buying on a national level.35 In the Golden Triangle, the nationality of the foreign purchasers can be seen in the pie chart.

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SWEDISH 8.55%

POLES 7.03%

35. Estadística Registral Inmobiliaria, 2024 30

Just the availability of these amazing residences is one of the many factors that attract high net worth clients to the area in the first place

www.panorama.es

Versace Villas

Terra Viva

REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026

A SAMPLE OF VILLAS IN NEW DEVELOPMENTS IN DIFFERENT RESIDENTIAL AREAS IN 2025 Basement: 60% Garage: 30% Porches: 50% Terraces: 10% Solarium: 10% King’s Hills close to beach, finished Vivace close to beach, off-plan Banus Heights mountainside, finished Santa Clara Golf close to beach, off-plan Imagine close to beach, off-plan The Avenue close to beach, off-plan El Madroñal mountainside, off-plan BeSeven beachside, off-plan The Collection close to beach, off-plan Camojan Six close to beach, off-plan Atalaya de Rio Verde close to beach, finished Altos Reales close to beach, finished La Cerquilla close to beach, finished Cascada de Camojan close to beach, finished Tierra Viva by Automobili Lamborghini close to beach, off-plan

4,928 €/m2 5,364 €/m2 6,127 €/m2 7,011 €/m2

Golden Mile N. Andalucía Benahavís Marbella East Estepona San Pedro

7,905 €/m2 8,610 €/m2 9,213 €/m2 9,232 €/m2 9,502 €/m2 10,557 €/m2 10,739 €/m2 10,951 €/m2 12,430 €/m2 12,819 €/m2 15,302 €/m2

Sierra Blanca close to beach, finished

18,176 €/m2

Versace Villas close to beach, off-plan

21,952 €/m2

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REAL MARKET EVIDENCE

MARBELLA PROPERTY MARKET REPORT 2026

Panorama’s own sales in the Marbella area over the last two years have been to clients of 46 different nationalities, with the following percentages:

PANORAMA’S OWN SALES - 2024 & 2025

2.1% AMERICANS 2.4% SIAN 4% .

RUS H2 NIS 2.4% DA S IS SW

NO RW EI GA N IRANIAN 2.

8% 4.0%

FRENCH 4.4%

SWEDISH 8.5%

GERMAN 4.4% POLES 4.5%

BRITISH 13%

SPANISH 7.3% IRISH 5.3%

BELGIANS 5.7%

DUTCH 6.1%

Panorama’s headquarters, opposite the Marbella Club hotel on the Golden Mile

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Contrary to initial expectations following Brexit, the British continue to buy properties in the luxury market, although their share continues to diminish year after year

The rental landscape: key trends in 2025 Marbella’s rental market is under intense and sustained pressure, with demand far exceeding supply and prices rising year after year.

Both the long-term and short-term rental sectors are feeling the strain, amplified and complicated by increasing government intervention by local, regional, national and European Union governments, with major implications for investors, residents and the local economy.

building of affordable housing.

One of these measures includes the concessions of municipal land classified as “equipment land” to developers, at no charge, for the construction of affordable housing, with priority for key workers.

These and other measures will work in time, but in the meantime, there is upward price pressure on properties for rent just as much as there is on those for sale.

Long-term rentals: severe shortage and rising prices

Short-term rentals: regulation and disruption

The housing crisis in Spain is probably the most severe social issue facing the country today, and Marbella and the Costa del Sol are by no means exempt.

Marbella’s rental market is heavily skewed towards second homes and seasonal properties, creating acute housing shortages for the working and professional community, as it is in most areas of the country. Average long-term rents for an 80 square metre apartment have risen nearly 89% in six years, from €848 (€10.6/m²) in 2019 to €1,600 (€20/m²) in July 2025. Prime areas like the Golden Mile, Nagüeles, Nueva Andalucía, and Marbella East saw annual increases of around 10–11%.36 High costs have driven tenants to surrounding towns such as Ojén, Guaro, Coín and Manilva, where rents are also rising by 15–20% annually. This shortage creates staffing challenges for hospitality, education, healthcare, and many other sectors. Some companies are buying properties to house staff.

The local government is taking measures to encourage new Regulated by RICS

Since January 2024, sweeping governmental reforms introduced complex compliance requirements.

These include Andalusian VUT licensing, the new national NRUA registration, municipal registers, and, since April 2025, homeowners’ community approval for tourist rentals.

As an example of the restrictions imposed by local authorities, Málaga City Council has implemented a three year moratorium on new tourist rental licenses across the municipality.

Mayor Francisco de la Torre emphasized that “not one more” tourist property license will be granted during this period. The moratorium will remain in place while the city updates its General Urban Planning Plan (PGOU) to better balance tourism with affordable housing needs.37 In Marbella, most of the properties being rented short-term are to high net worth clients by owners who are using the properties themselves, including a large number of villas, during the months outside the peak season. This is a very different scenario from these big cities where www.panorama.es

THE RENTAL LANDSCAPE

MARBELLA PROPERTY MARKET REPORT 2026

Marbella’s rental market is under intense and sustained pressure, with demand far exceeding supply and prices rising year after year

36. Idealista: “Evolution of rental housing prices in Marbella”, August 2025 37. El País: “Málaga anuncia una moratoria de tres años para nuevas viviendas turísticas”, August 13, 2025

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THE RENTAL LANDSCAPE

MARBELLA PROPERTY MARKET REPORT 2026 often, the city centre apartments have mostly become short-term rental properties year-round, owned by investors, not end users, driving out the original Spanish owners due to the skyrocketing prices paid by investors. Many of these big cities, not only in Spain but elsewhere in Europe, are suffering from overtourism, which is fortunately not present in Marbella. Therefore, the Marbella Town Hall will not impose limits in any specific area on short-term rentals, although the situation will be “closely monitored” according to the Mayor. As of midAugust 2025, in Málaga province, including Marbella, only 49.6% of the tourist apartments authorised by the Junta de Andalucía were fully registered in the National Unified Tourist Rental Registry (NRUA). When including those still in the process of obtaining provisional authorisation, the figure rises to 65%.38 Homeowners’ community bans on short-term rentals are already resulting in buyers refusing to purchase in some of these communities, thereby lowering the saleability and property values in those communities.

On the other hand, some very exclusive communities have, in fact, enhanced their exclusivity by refusing short-term rentals. What is important to note is that there is no guarantee that a community now allowing short-term rentals might, at some future date, prohibit them and vice versa.

In many, if not most cases, instead of a total community ban on short-term rentals, moderate limits (e.g., a minimum of perhaps one week, or even one month stays) could preserve resale values while attracting reliable, quality tenants.

For further information see the article published by LPA, the Leading Property Agents of Spain.39

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Proposed VAT increase A proposed national law seeks to apply a 21% VAT to short-term rentals aiming to shift supply toward long-term rentals. Strongly backed by the hotel industry (who pay 10% VAT but believe that touristic rentals should only pay the same percent tax as they do) the proposed law has sparked strong opposition, particularly from coastal property owners who rent seasonally to cover costs. Critics argue it would harm tourism, unfairly target shortterm rentals, and do little to ease the housing crisis. This newly proposed law is still under debate and is unlikely to be approved without important modifications, hinging on coalition support in Spain’s divided parliament and likely amendments due to regional and sector resistance.

Market effects include a shift toward professionalised, hospitalitystyle management, some owners moving to long-term rentals, and new investors focusing on off-plan purchases for year-round leasing.

However, many coastal properties used seasonally by owners were never part of the long-term market, meaning these laws will no doubt reduce short-term supply without easing the housing crisis, impacting tourism and local businesses.

EDITOR’S NOTE Due to the constant evolvement and clarification of existing and conflicting parts of the various recent laws involved, please scan the QR code to read the latest updates of the rental scenario in Spain and in Marbella.

Looking ahead Marbella has moved from minimal rental regulation to one of the strictest regimes worldwide, creating confusion and added costs. Current conditions are chaotic, with legal challenges, insufficient knowledge of the new laws by property owners, duplicated regulations and industry protests. Owners and investors are advised to work with experienced local advisors, monitor community rules, and adopt balanced rental strategies to protect both yields and property values.

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38. CadenaSer: “Málaga, la provincia con más viviendas turísticas en el registro único, con casi tantas como toda Cataluña”, August 3, 2025 39. LPA: “How 2025 Legislative Changes Are Reshaping Tourist Rentals and Property Values in Marbella”

Other factors affecting the market What buyers are seeking: a market built on lifestyle and permanence Over the past three decades, as Marbella’s “off-season” gained popularity and remote working became more widespread, we have witnessed a clear shift in buyer profile: from traditional holidayhome purchasers to lifestyle-driven buyers seeking a true second home or a permanent residence. These buyers prioritise design, amenities, and services of the highest quality.

They are well-informed, discerning, and value privacy, security, and long-term liveability.

Today’s buyers are not simply looking for properties, they are searching for a seamless lifestyle.

Among the top priorities: • Proximity to the beach, golf courses, or nature • Turnkey or newly refurbished properties with modern amenities • High-speed internet and office space for remote work • Gated communities or discreet environments with 24-hour security • Energy efficiency and sustainable design • Proximity to international schools, health clinics, and transport links • Smart homes are no longer considered a luxury, they are seen as a basic necessity.

Buyers in the €2–5 million range or higher, are shifting their focus toward long-term residence and integration into the Marbella life.

At the upper end — particularly in Puente Romano, La Zagaleta, Sierra Blanca and Cascada de Camoján Regulated by RICS

— the emphasis is on exclusivity, architectural uniqueness, security and concierge-level services.

Visas and residency opportunities Spain’s Golden Visa programme officially came to an end on April 3, 2025. For over a decade, the scheme granted residency rights to non-EU citizens investing €500,000 or more in Spanish real estate, helping to position Spain, and Marbella in particular, as an attractive destination for international investors. It facilitated access to the European Union for non-Schengen buyers and provided a steady, if modest, stream of purchasers to the Spanish property market.

OTHER FACTORS AFFECTING THE MARKET

MARBELLA PROPERTY MARKET REPORT 2026

Spain continues to welcome international residents through the NonLucrative Visa, the increasingly popular Digital Nomad Visa, and permits for entrepreneurs and highly qualified professionals

The government’s decision to discontinue the programme was driven by the aim of alleviating housing pressures in cities such as Madrid and Barcelona, where speculative purchases linked to the Golden Visa were seen as contributing to rising prices. While the measure may address those urban concerns, its effect in resort www.panorama.es

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OTHER FACTORS AFFECTING THE MARKET

MARBELLA PROPERTY MARKET REPORT 2026 markets like Marbella, where demand is primarily lifestyle-driven, is very limited.

Importantly, Spain continues to welcome international residents through the Non-Lucrative Visa, the increasingly popular Digital Nomad Visa, and permits for entrepreneurs and highly qualified professionals, ensuring that residence permits in the country remain accessible even without the Golden Visa.40

Proposed Spanish property tax doubling cost for NonEU buyers faces significant hurdles On January 13, 2025, Spanish Prime Minister Pedro Sánchez announced a proposal to impose a 100% tax on the taxable base of secondhand (resale) property purchases by non-EU non-residents, aimed to address speculative buying amid Spain’s housing affordability crisis. On May 15 the Socialistled government submitted the draft law to parliament. Added to existing regional transfer taxes of 7% in Andalucía, this tax would significantly increase costs for affected buyers.

The tax would apply to transfers of real estate ownership or certain real rights (e.g., usufruct, bare ownership) but there are key exemptions, including especially all new properties and other properties subject to VAT rather than transfer tax.

The measure, which reflects the left-wing coalition government’s emphasis on social housing policies to foster alignment with its progressive allies, aims to prioritize housing access for Spanish residents. As of September, 2025, the proposal remains under review with passage uncertain due to the legal and political challenges.

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This uncertainty with respect to whether the law will be approved or not, has spurred non-EU buyers to accelerate purchases particularly of resale properties affected by the proposed law.

Amendments or rejection of the law remains probable.

Legal and planning developments A key factor that separates stable property markets from speculative ones is legal and planning certainty. In this regard, Marbella has made important strides in recent years — laying the groundwork for a more transparent, reliable, and sustainable development model.

A key factor that separates stable property markets from speculative ones is legal and planning certainty.

In this regard, Marbella has made important strides in recent years

The new General Municipal Plan of Marbella 2025 marked a turning point in Marbella’s urban planning journey, with the provisional approval by the Town Hall of the General Plan (PGOM) on July 29, 2025.41 Since the Regional Government’s passing of Law 7 in December, 2021 titled “The Promotion of Territorial Sustainability in Andalusia” (LISTA) the old instrument of the General Urban

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40. Condé Nast Traveler: “What to Know About Spain’s Golden Visa Before It Ends in April,” Condé Nast Traveler, January 23, 2025 41. Marbella24horas.es: “El documento final del PGOM de Marbella sale adelante con PP y Vox”, June 27, 2025

Planning Plan (PGOU) was replaced by two complementary planning instruments, the PGOM and the POU. The PGOM is a structural planning instrument that defines the municipality’s general development model, establishing strategic guidelines for the entire area.

The POU is a detailed planning instrument that regulates urban land and, where applicable, developable land that has already been transformed, or is in the process of being transformed.

The Impact of the LISTA Law Andalusia’s LISTA law continues to reshape the legal landscape for urban planning across the region.

Among its key features: • Simplification of procedures for obtaining building permits • Faster approval timelines for urban development projects • Greater autonomy for municipalities to manage local planning • Environmental and energy efficiency criteria embedded into the planning process For Marbella, LISTA has provided the legislative framework to modernise its approach without waiting for full PGOM and POU approval. This has facilitated small- and mid-scale development and renovation projects, while ensuring alignment with broader sustainability goals.

After a decade of uncertainty following the annulment in 2015 of the 2010 PGOU (General Urban Plan), the city continues under the framework of the 1986 Plan, albeit with numerous adaptations, which has allowed the plan to evolve in some respects, along with the city, Regulated by RICS

over time.

The new PGOM should be definitively approved in the first half of 2026. The POU is expected to be approved initially in 202642 with a definitive approval expected between 2027 and 2028.

The PGOM aims to provide a clear, updated vision for Marbella’s future, with emphasis on: • Sustainable urban growth • Preservation of green and natural spaces • Balanced development that meets housing needs without overburdening infrastructure

OTHER FACTORS AFFECTING THE MARKET

MARBELLA PROPERTY MARKET REPORT 2026

A central theme of Marbella’s urban planning evolution is the concept of the “15-minute city”, a model that ensures all essential services are within a 15-minute walk or bike ride

• Urban regeneration, especially in older neighbourhoods • Legal regularisation of properties in limbo due to prior planning ambiguities • A central theme of Marbella’s urban planning evolution is the concept of the “15-minute city” — a model that ensures all essential services (schools, healthcare, shopping, green spaces) are within a 15-minute walk or bike ride.

These new planning instruments reflect a vision of Marbella not as www.panorama.es

42. Málaga Hoy: “Marbella aprobará el PGOM en junio de manera definitiva” May 28, 2025 info@panorama.es

(+34) 952 822 1 1 1

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OTHER FACTORS AFFECTING THE MARKET

MARBELLA PROPERTY MARKET REPORT 2026

a resort enclave, but as a selfsufficient, inclusive, and resilient Mediterranean city.

The legalisation of previously irregular properties One of the most pressing concerns historically in Marbella’s property sector has been the status of properties built under the nowannulled 2010 Plan. In many cases, properties that were granted licences under that framework have remained in legal limbo, creating uncertainty for owners and buyers.

Developers are once again engaging in long-term planning, international buyers are reassured by the city’s institutional direction, and legal professionals report a notable decline in title-related complications during property transactions.

In 2024, local authorities made significant progress toward regularising these properties, allowing them to be fully integrated into the planning system. The use of tools like Declaraciones Responsables Urbanísticas (Urban Responsibility Declarations) and flexible transitional measures has enabled many properties to obtain full legal standing.

A booming local economy

Legal certainty drives investor confidence Perhaps the most important outcome of these planning and legal improvements is renewed confidence in Marbella as a safe 38

and well-regulated place to invest.

For many years, questions around planning irregularities dampened activity in certain sectors, but those concerns have now largely subsided.

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The Marbella City Council reported record-breaking economic figures for 202543 with over 83,000 contributors to Social Security and the lowest unemployment rates in recent history. This figure rose to 85,400 contributors by July 31, 2025.

A small town with outsized economic influence, shifting to a varied economic future An important article written by José Antonio Medina Ibáñez published in the Latin Press on May 25, 202544 discusses the exciting evolution of the Marbella

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Developers are engaging in longterm planning, international buyers are reassured by the city’s institutional direction, and legal professionals report a notable decline in title-related complications during property transactions

43. SUR: “Marbella supera por primera vez las 83.000 afiliaciones a la Seguridad Social en un mes de junio”, July 16, 2025 44. Latinpress.es: “Marbella supera por primera vez las 83.000 afiliaciones a la Seguridad Social en un mes de junio”, May, 24, 2025

economy: Despite its modest size, Marbella punches far above its weight in the regional economy.

With just 9% of the province’s population, it contributes 17% of the province’s 136,848 businesses.

moderate and sustainable growth, along with a world-class infrastructure. Although there is a lot of work to be done, the city is meeting this challenge with determination and vision.

“This significant business presence underscores Marbella’s role as a vibrant economic hub. Marbella is at a pivotal moment in its economic evolution. While high quality tourism, construction, and real estate remain foundational, the city is in the process of steadily diversifying. Growth in professional, technical, and consulting sectors signals a shift toward a more varied economic future, with these industries poised to play a central role in shaping Marbella’s trajectory.”

A commitment to world-class infrastructure

Infrastructure, sustainability, and urban planning A great city is more than its homes, it is defined by the quality of its infrastructure, the foresight of its planning, and the harmony between urban life and the natural environment. Marbella has reached a point in its evolution where the demand for world-class real estate must be matched by intelligent, Regulated by RICS

“The city is in the process of steadily diversifying.

Growth in professional, technical, and consulting sectors signals a shift toward a more varied economic future...”

OTHER FACTORS AFFECTING THE MARKET

MARBELLA PROPERTY MARKET REPORT 2026

In recent years, Marbella has undertaken several major infrastructure projects designed to improve the overall urban experience. Among the most notable: • Pressure is mounting to eliminate tolls on the AP-7 motorway between Fuengirola and Sotogrande, a measure that would relieve strain on the coastal N-340 road. Although our direct, political sources inform us that this does not seem possible under the current national government, every effort should be made to continue to apply maximum pressure since the removal of this toll is the one factor which will substantially relieve congestion on the main coastal highway.

• The local government is already implementing practical solutions, such as the expansion of a third www.panorama.es

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OTHER FACTORS AFFECTING THE MARKET

MARBELLA PROPERTY MARKET REPORT 2026 La Concepción Reservoir

lane between Puerto Banús and San Pedro, aimed at reducing bottlenecks during peak hours.

The rebuilding and widening of the beginning of the road to Istan, the remodelling of Avenida del Trapiche, the expansion of cycling lanes and pedestrian walkways, are typical examples of the dozens of municipal infrastructure projects going on throughout Marbella.

There are precisely 15 specific, important projects underway involving improvement of circulation within the municipality.45 • There is renewed political and public support for extending the coastal train line from Fuengirola to Marbella and Estepona, and eventually all the way to Algeciras.

Marbella remains the only city in Spain with over 160,000 inhabitants without a train connection, a discrepancy that is widely recognised and actively being addressed. In May, 2025 funds were approved by the Ministry of Transportation to go to tender for a new study which will set objectives 40

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and map out alternatives.46 • Málaga airport Extension: as the Costa del Sol continues to attract residents and investors from around the globe, ease of access becomes an indispensable factor. The surge in air traffic and proximity to the estimated limit of maximum number of travellers, has prompted the airport authority, AENA, to make plans for a new airport extension. On July 22, 2025 AENA announced that it is formally putting out to tender the project for almost doubling the size of the Málaga Airport, with the extension scheduled to be built starting in 2027 and finishing in 2031.47

Water Scarcity Although 2025 brought muchneeded rainfall, water scarcity remains one of the most critical issues for the Costa del Sol. Fortunately, decisive steps are being taken to lessen dependence on traditional reservoirs.

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Estepona is on the verge of completing its own desalination plant, a pioneering, containerised facility powered by solar energy

45. El Español: “Marbella planea eliminar su mayor punto negro de tráfico con un tercer carril en la A-7 entre Puerto Banús y San Pedro.”

46. SUR: “Comienzan los trabajos del estudio de viabilidad para el tren litoral entre Nerja y Algeciras.” June 11, 2025 47. SUR in English: “Expansion process under way for close-tocapacity Málaga Airport to handle 36 million passengers a year.” July 30, 2025

The expansion of the Marbella desalination plant now enables it to produce double its former capacity, providing nearly one third of the water needed for the entire Costa del Sol, while simultaneously improving the efficiency of adjacent treatment plants that also process water from the La Concepción reservoir.48 Additional projects include a planned water treatment facility for Mijas, Fuengirola and Torremolinos; the expanded use of reclaimed water; and the renewal of dozens of municipal wells to reinforce supply, particularly for public gardens.

Estepona, in parallel, is on the verge of completing its own desalination plant, a pioneering, containerised facility powered by solar energy and designed to ensure near selfsufficiency in water supply for the municipality.

These advances are of profound importance for the property market, as the assurance of a sustainable and reliable water supply underpins Regulated by RICS

the long-term growth and resilience of the Costa del Sol — essential both for residents’ quality of life and for maintaining international confidence in Marbella.49

Key to Marbella’s capital investment plan is the enhancement of Marbella’s green infrastructure, with new public parks and reforested urban areas aiming to reduce heatisland effects and improve environmental quality

OTHER FACTORS AFFECTING THE MARKET

MARBELLA PROPERTY MARKET REPORT 2026

PUBLIC AND PRIVATE INVESTMENT IN MARBELLA One of the strongest indicators of Marbella’s economic vitality is the scale and diversity of investment currently flowing into the city, both from public institutions and private enterprise. These investments signal more than capital expenditure, they reflect profound confidence in Marbella’s future.

Public sector investment: building for quality of life The Marbella City Council, with a municipal budget in 2025 of €405,260,000 has outlined a capital investment plan focused primarily on mobility, sustainability, and civic improvement.50 Key to this plan is the enhancement of Marbella’s green infrastructure, with new public parks and reforested www.panorama.es

48. SUR in English: “Head of Junta opens upgraded Marbella desalination plant and demands more commitment from central government.” July 9, 2025 49. SUR in English: “Costa del Sol desalination plant starts testing phase”, February, 21, 2025 50. Europapress: “El Ayuntamiento de Marbella aprueba sus cuentas de 2025 con 405.259.949 euros de gastos consolidados”, December 23, 2024

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OTHER FACTORS AFFECTING THE MARKET

MARBELLA PROPERTY MARKET REPORT 2026

urban areas aiming to reduce heat-island effects and improve environmental quality.

Cultural and educational facilities are also seeing renewed attention, with the modernisation of municipal libraries, the continued rehabilitation of Marbella’s historic Old Town, and a long-awaited expansion of the Hospital Costa del Sol. Financed in collaboration with the Andalusian regional government and due for completion by 2028, this expansion will enhance the healthcare capacity for residents and visitors alike.

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hotels across Marbella and its immediate surroundings.51 Notable examples include the relaunch of the historic La Fonda Hotel under the Relais & Châteaux brand, the transformation of beachside hotels such as Los Monteros and El Fuerte, and new boutique concepts designed for high-end experiential travel.

Private sector momentum: luxury real estate, hospitality and health

Private investment is also flowing into healthcare and education, two pillars of Marbella’s infrastructure that are essential to attracting long-term residents.

Several new international schools are being planned and many of the existing will be expanded.

On the private side, investment continues at an unprecedented scale, particularly in the luxury real estate and hospitality sectors. The hospitality sector, long a cornerstone of Marbella’s global appeal, is undergoing a renaissance. Over €250 million has been committed to new or extensive renovation of the five-star

Leading private clinics, particularly those specialising in wellness and longevity, are opening branches in the city, anticipating growing demand among affluent, healthconscious residents from across Europe and the Middle East, adding to the 20 hospitals and clinics already established within the municipality.

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On the private side, investment continues at an unprecedented scale, particularly in the luxury real estate and hospitality sectors

51. Sur in English: “Marbella sees 290-million-euro investment in new and refurbished hotels”, February 24, 2025

Looking forward The message is both clear and inspiring: Marbella is thriving, not as a trend, but as a way of life. Billions of euros have been invested in Marbella. It has become a global benchmark for lifestyleoriented living and one of the most exclusive resort cities in the world.

Marbella has matured, evolving into a long-term safe haven for capital, lifestyle, and legacy.

• The groundwork being laid today will ensure that the city continues to thrive, not only as a luxury destination but as a living model of what modern, human-centred development can look like.

• For the discerning buyer or investor, this evolution adds depth to Marbella’s value proposition. It is no longer just about sea views or square metres; it is about being part of a city that is building for the future and in the process of exciting, natural diversification of its economy to include professional,

Regulated by RICS

technical, and consulting sectors signalling a shift toward a more varied economic future outside the foundations of the hospitality and the real estate sectors.

• Challenges remain: Marbella’s well-earned title as Europe’s Best Destination in 2024 reflects its remarkable appeal, with both public and private sectors making notable strides to support this success, as outlined earlier. To fully live up to this prestigious accolade, Marbella must prioritise even more achieving a world-class level infrastructure and municipal services. While commendable efforts are underway, we believe greater focus, increased investment and attention to infrastructure, cleanliness, municipal gardens, and all public services are absolutely critical in order to meet the very high standards expected of a leading global destination.

Sustained commitment to these priorities will ensure that Marbella will continue its positive evolution.

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We believe greater focus, increased investment and attention to infrastructure, cleanliness, and all public services are absolutely critical in order to meet the very high standards expected of a leading global destination

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LOOKING FORWARD

MARBELLA PROPERTY MARKET REPORT 2026

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LOOKING FORWARD

MARBELLA PROPERTY MARKET REPORT 2026

• Policy clarity around the rental market is crucial to protect both yields and values, while the chronic shortage of supply demands pragmatic planning and professional execution. These are all solvable issues, but they require ambition, coordination, and follow-through from both public and private sectors.

• The Marbella-area real estate market continues to demonstrate resilience, driven by strong international demand, its exceptional lifestyle appeal, and a robust economic foundation.

However, the official statistics, as discussed earlier, added to feedback from agents indicate sales volume, especially in the luxury category, aligning with 2024 levels, with buyers exhibiting greater discernment, taking longer to make decisions, and negotiating more assertively.

Additionally, a modest uptick in available resale properties in ultraprime areas like Puente Romano, combined with the various issues of the evolving regulations impacting short-term rentals, suggests the market is now entering a phase 44

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of consolidation, a natural progression following the unprecedented post-pandemic activity.

This market maturation reflects a sophisticated buyer base, prioritising value and sustainability, which supports long-term growth.

Marbella is poised to remain a sellers’ market for several years ahead, underpinned by limited supply and enduring global appeal, cementing its position as a premier destination for discerning investors and residents.

Marbella is poised to remain a sellers’ market for several years ahead, underpinned by limited supply and enduring global appeal

Far beyond luxury real estate, Marbella’s true foundations and real wealth extend beyond the material. They encompass a richness of experience, culture, health and community. And it is this unique energy that drives, and will continue to drive, Marbella’s growing lifestyle economy for decades to come.

Copyright © 2025 Panorama Properties S.L – Special thanks to Alfonso Muñoz, Carolina Alaniz, Cheryl Gatward and Alex Clover for their assistance and tireless efforts in putting this report together.

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EDITOR’S NOTE Our Market Report will be updated as new figures are released. Scan the code to read online.

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INSURANCE MORTGAGES STAFF

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For any company to achieve 55 years of business is a milestone, but to do so in the highly competitive Marbella property market is a true accomplishment indeed.

Article by Michel Cruz

E

‘‘The principles of Panorama are the family values of fair, honest and transparent dealing, as taught by my father to me and by his father to him’’

stablished in Marbella in 1970, Panorama Properties is much more than just a real estate agency. In more than half a century, it has not only surmounted the vicissitudes of time, experiencing both the good and leaner times, but has also in the process, chronicled the evolution of Marbella, becoming part of its very fabric.

The company is family owned, managed by Christopher Clover and his children Alex and Katinka, and is today comprised of a team of 30 professionals speaking twelve different languages among them.

Four generations in real estate Over half a century in Marbella real estate is an unequaled achievement, for Panorama is the longest-running agency in the region – and yet, the family’s link with real estate goes back even further, stretching four generations to the founding of the real estate agency B. B. Clover and Company in Chicago in 1904 by Chris’ grandfather Burtt Byron Clover.

B. B. Clover was also a property developer who in the 1920s built one of the first professional golf courses in the USA, in the suburbs of Chicago.

The clubhouse and golf course of Itasca still stand proudly today, to his credit, along with many of the stylish half-timbered houses which he built surrounding the course: a testament to a philosophy of quality and service that has permeated through the generations to the present day, as it also forms the basis for Panorama’s own business ethos.

“The principles of Panorama are the family values of fair, honest and transparent dealing, as taught by my father to me and by his father to him. Any success we have had is thanks to following these principles carefully…as well as the great members of our team we have always been lucky to have

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1968

1970

Panorama International Ltd. is formed in Washington DC and is the first company to offer international properties and developments to investors in the United States.

Panorama International opens Marbella’s first international real estate agency.

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working with us.”

(Christopher Clover)

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Later the family moved Left: Press cutting, to Charlottesville, a Iberian Daily Sun, prosperous university March 1973 town in central Virginia Top Right: two hours’ drive south Chris & his brother of Washington DC. around 1958 Here, Chris’s father, Middle Right: Williston ‘Bill’ Clover, The Clover Realty continued the family Company in 1960 business, establishing a highly successful Bottom Right: real estate agency and The Itasca sales property development office, 1939 firm that was involved in the sale of many of the most important historic homes and country estates in the area. Bill was also a nationally ranked tennis player in his youth, the tennis coach of the University of Virginia during the war, an architect, property developer and a specialist in the breeding and raising of Aberdeen Angus cattle.

It was in this setting that Chris and his brother, Bill, grew up. After graduating with distinction from the

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1973

1974

Christopher Clover takes Christopher Clover obtains over Panorama International Panorama’s first major exclusive offices in Marbella. of the land parcels in Las Lomas del Marbella Club.

1975 1982 Christopher Clover forms an independent company.

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Panorama hosts its first Open House in Marbella

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1989

1995

1995

Most expensive sale in Marbella at the time, beachfront in the urbanisation of Casablanca, for $9.5 million.

Panorama capitalises on its success and reputation and opens offices in the most prestigious areas of Marbella, at the Puente Romano and directly opposite the Marbella Club hotel.

Christopher Clover is appointed to the Board of Directors of the Puente Romano hotel where he served for several years.

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University of Virginia with a degree in economics, commerce and French, Chris taught French for two years before joining the family business in 1971. Three years before in 1968, his father had acquired the Washington DC-based property agency Panorama International Ltd, as a means to market luxury international homes to American buyers. This led to the opening of the Marbella office in 1970, later followed by Mallorca and also Mexico City, established by Chris’s brother Bill.

Evolving with Marbella When Chris arrived in Marbella in 1973 to head up the Marbella office, the town was still small and truly glamorous. The Marbella Club was in its heyday, attracting an international A-list clientele that included aristocrats, royalty, Hollywood stars and the cream of Spanish and European society.

This much was evident at the inauguration party of Puerto Banús, also in 1970, which Opposite page: was attended by the Top Right: likes of Prince Rainier One of Panorama’s and Grace Kelly, first adverts in 1970 the Aga Khan, José Banús and of course, Bottom Right: Prince Alfonso von Chris & his first wife Hohenlohe. A certain Kirsten, at a Marbella Julio Iglesias provided party in 1974 the live entertainment.

Top Left: Chris with “They were heady his father & brother times,” recalls Chris Middle Left: Clover. “Marbella was Chris and Kirsten with in full development David and Veronica and already a very Shamoon, Marbella 1977 exclusive, special place where you Bottom Left: could not only enjoy US advert, 1971

‘‘Marbella was in full development and already a very exclusive, special place where you could not only enjoy the finest climate in Europe within a beautiful setting, but also rub shoulders with fascinating people from around the world’’ the finest climate in Europe within a beautiful setting, but also rub shoulders with fascinating people from around the world. It was an enriching experience which, together with the Andalusian culture and gentle pace of life, produced a unique quality environment that continues to attract people from around the world.”

The slogan of Panorama at the time was “special places for special people”. Panorama Properties had been founded to promote Spanish property to American buyers, and indeed, many came here and fell in love with Marbella. During the 1970’s, Panorama sold over 200 properties in Nueva Andalucía to American buyers.

In addition to being the first real estate agency to sponsor property inspection flights to the coast, and the first international real estate agency in

1996 2001 2003 Panorama launches one of the first Internet websites specific to the Marbella area. Today, the Panorama website is in 5 languages: English, Spanish, French, German and Dutch.

Regulated by RICS

Alex Clover joins Panorama to help finetune the company’s image and implement a series of internal improvements.

Katinka Clover joins Panorama. Christopher’s brother, Williston H. Clover, becomes a permanent consultant to the company.

2004 Panorama launches “The Marbella Property Magazine”. In addition to the award-winning Market Report, it contains other interesting articles both for buyers and sellers, as well as an excellent selection of properties.

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Marbella, Panorama was also the first to hold ‘open houses’ for fellow agents, and would pioneer a great many other innovations that have since become common practice on the Costa del Sol. From the mid 70s Panorama was fortunate to sell many properties to well-known Middle Eastern personalities, including members of royal families. In 1977 Christopher became the property administrator for Prince Salman bin Abdul Aziz Al Saud (now King Salman) and other prominent personalities of the Middle East, Including Akram Ojjeh, H.E Sheikh Kamal Adham and Khalid Mohamed Kanoo. However, the person who was most influential in helping Chris in his early years, was David Shamoon, Chris’s first administration client in 1974.

As the firm’s market expanded to also include new waves of British, Middle Eastern and European buyers, its reputation and place within Marbella was solidified to the point where Panorama became an integral part of the local community.

Even before 1980, Panorama was already a prominent name in Marbella real estate, and continues to be even more so as it celebrates its 55th anniversary. Operating from two offices on the prestigious Golden Mile, Panorama is involved in the listing, promotion and sale of many of the most important properties in this region, expanding its expertise to also include luxury rentals, commercial property and a special division dedicated to land acquisition and providing a bespoke service for both institutional and private investors.

55 years of service The relationship forged with clients is at the heart of Panorama’s success, where Chris and his team

‘‘Over the years we have come across every real estate situation you can imagine, and we have become experts at solving problems when they come up.’’ have been involved in finding and managing properties on behalf of clients from around the world, managing the acquisition of an embassy building in Tokyo for the Foreign Ministry of Saudi Arabia, as well as transactions involving large tracts of land on the Costa del Sol and prime office premises in Madrid and London.

The main focus of the business, however, has always been, and continues to be, marketing quality residential properties in the Marbella area.

Opposite page: Top Left: Chris with Ricardo Aranz de Miguel, 2018 Top Right: Chris with his brother Bill, 2008 Middle Left: Chris with his current wife, Jovita Middle Right: Chris with Count Rudi Bottom left: Chris with the late H.E Sheikh Kamal Adham Bottom right: Chris with the late Khalid Mohamed Kanoo

“There are always challenges to overcome in this highly competitive business and we are in an industry that is constantly evolving.

My greatest personal pleasure has been to meet

2015

2015

2016

Panorama celebrates 45 years in Marbella!

Christopher Clover accepted a nomination as Eminent Fellow by the prestigious Royal Institution of Chartered Surveyors (RICS).

Panorama is approved as a real estate agency “regulated by RICS”.

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The Benahavís river walk near Marbella

2016

2019

2019

Christopher Clover receives the Lifetime Achievement Award from REAS.

Panorama & Puente Romano announce their joint venture, opening the “Puente Romano Real Estate” office to serve hotel guests.

Panorama wins “Best Real Estate Agency, Spain” for 2019, 2020 & 2021 at the prestigious European Property Awards.

Regulated by RICS

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2020

2020

2021

Panorama celebrates 50 years in Marbella! The sales office is completely renovated to a high tech, state-of-the-art environment.

Christopher Clover becomes Honorary President of the newly formed Leading Property Agents of Spain (LPA).

Record sale of landmark property by FaceTime. A new website is launched.

New Commercial Division is formed.

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Opposite page: Top left: Panorama’s other agency - Puente Romano Real Estate - next to the reception of Puente Romano Top right: Panorama’s new state-of-the-art sales office in Puente Romano

so many wonderful people from around the world who come to Marbella, many of whom have become close friends,” says Chris.

“We have had clients from well over 100 different countries, and have learned something from each of them.”

It is this passion, both for real estate and the personal relationships forged with clients, that forms the Bottom: basis for Panorama’s The Panorama longevity and dedication Team, 2025 to professionalism. “It has been said of me that I am a stickler for precision and detail, but how else would it be possible to not only survive but prosper for 55 years in such a competitive industry as this?”

Chris’s penchant for clear and correct procedure is his clients’ guarantee in a process that involves not only excellent service but also a level of indepth technical and market knowledge that is the product of these years of experience. “Over the years we have come across every real estate situation you can imagine, and we have become experts at solving problems when they come up. We move very quickly and efficiently—and safely—on behalf of our clients and perform our own due diligence before taking a property for sale on our books, but we are not a ‘pushy’ sales agency. We are here for the long haul and strive to be a high quality, as well as highly qualified service company in every aspect of our work.”

‘‘Panorama also operates another real estate agency called Puente Romano Real Estate as part of a joint venture with the Puente Romano and Nobu Hotels’’ As a result of his many contributions to the real estate industry in the area, Chris was invited to become an “Eminent Fellow” of the renowned Royal Institution of Chartered Surveyors (RICS) in 2015, the largest real estate organisation in the world with 120,000 members in 140 different countries. As a result of this, the following year, Panorama became one of only two residential real estate agencies in Spain to be RICS regulated, which gives important guarantees of professional conduct to its buyer and seller clients.

In 2019, 2020 and 2021 the firm was awarded “Best Real Estate Agency in Spain” out of hundreds of applicants by the prestigious International Property Awards.

In 2024, Panorama was honoured at the SUR in English 40th-anniversary gala for its pioneering promotion of the qualities of Marbella and the Costa del Sol and service to the real estate sector for over 50 years. SUR in English, published by Diario SUR, is the leading news source for the Costa del Sol’s international community, making this recognition especially significant.

2022

2022

2023

Katinka Clover and Alfonso Muñoz, become AssocRICS members. Record sale of property in excess of 15 million.

Panorama creates an Investment Division, to provide private and institutional clients with quality brokerage services.

Record-breaking sales!

Panorama Properties achieved its highest number of sales since 1970, marking a milestone in over five decades of success.

Regulated by RICS

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In November 2024, Christopher Clover, was named “Business Leader of the Year” by CIT Marbella (Centro de Iniciativas Turísticas) the town’s leading business and professional association. The award, presented at the association’s annual gala, recognised his decades of dedication and lasting influence on Marbella’s luxury real estate market and invaluable contributions to the promotion of Marbella and quality tourism to the area.

Panorama also operates another real estate agency called Puente Romano Real Estate, the official real estate agency of the Puente Romano and Nobu Marbella hotels as part of their joint venture, giving their seller clients highly effective, direct exposure of their property listings to the hotel’s clients.

It is this pedigree that clients can count on when buying from or selling through Chris and his international, multilingual team. “We jealously protect our role as negotiators of the commercial elements of a property transaction and are very good at bringing the two parties together in harmony,” says Chris. “We work closely with other agents and colleagues, as well as learning from them, but we always seek to distinguish ourselves through the quality of our service and our efficacy. Through our experience and market research, resulting in our annual market report, we have become an authoritative source of information, offering our clients hard market knowledge and statistics that are well documented and of great value to both buyers and sellers.”

Continuing the long-standing real estate tradition of the Clover family Chris’s children, Katinka and Alex, both born in Spain, joined the company after the turn of the century. Katinka, a graduate from the American University of Paris, and Alex, who

Alex, Chris & Katinka Clover, 2025

“...we have become an authoritative source of information, offering our clients hard market knowledge and statistics that are well documented and of great value to both buyers and sellers” graduated from his dad’s alma mater, the University of Virginia in Charlottesville, became an integral part of Panorama, bringing an essential perspective and added leadership to help the company to adapt to changing times, opening a new chapter in the history of Marbella’s longest-established real estate agency.

This article first appeared in Essential Marbella Magazine in February, 2020

2024

2024

2025

Panorama partners with the UK’s John D Wood & Co. combining 200 years of real estate expertise.

CIT Marbella, the city’s most prestigious business and professional association, honours Christopher Clover with with the esteemed ‘Business Leadership Award’.

Panorama becomes a Member of the British Chamber of Commerce.

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Interior Design, Property Development, Project Management

CREATING BESPOKE SPACES THAT INSPIRE

Avenida Cánovas del Castillo 25, Marbella +34 951 403 787 | info@blackshaw.es blackshaw.es www.panorama.es Regulated by RICS info@panorama.es

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Finding & Buying A PROPERTY

By Christopher Clover, FRICS

he Internet has become by far the most useful tool for those looking to buy properties and a net-based property search is usually the first step taken by any potential buyer. But, is it the right second step, once one sees a few desirable properties on several sites, to contact and make appointments with all the agents offering those properties, agents you don’t know or may not have even heard anything about, some of whom do not even identify themselves correctly on their sites?

Perhaps another option to consider, even while looking at everything on the net, might be to seek out as a first priority a really qualified, experienced agency to work with that has a large direct inventory of the kind of property you are looking for.

There are several great agents in Marbella to choose

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from, many who have outstanding credentials, long experience, excellent product and area knowledge, and adhere strictly to the agents’ code of ethics.

Additionally, choosing such an agent will assure that they pull out all the stops to spend plenty of time with you to get to know you and your special requirements as well as possible, sharing with you their market knowledge and recent comparable sales actually made, and who will eventually find just the right property for you. If it’s not in their own inventory they will go out and find that special property through their colleagues in other agencies on a commission-sharing basis.

Choosing a lawyer Panorama always recommends that purchasers of property in Spain retain a qualified solicitor to represent them and also advise them on all tax issues.

Once you have made a decision to purchase property

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Property Ref Nº 15580

Panorama always recommends that purchasers of property in Spain retain a qualified solicitor to represent and also advise them on all tax issues.

here, even though you may not have found that special property yet, establishing a relationship while you are in Marbella can be immensely useful if you

Getting the basics into place Having a lawyer, NIE number (a number issued to foreigners in Spain) in place, AML compliance in order, and bank account opened strengthens a buyer’s position when negotiating as he or she can put down an immediate deposit if an offer is accepted, since all the other details will have been taken care of already.

start negotiating a purchase after returning to your country of residence, as it is clearly more difficult to choose a lawyer long distance.

Essential today to buying property in Spain is the compliance with AML (anti-money laundering) protocol, required for opening a bank account, engaging a lawyer, and agents as well, in order to identify you and prove the legal origin of the funds intended for the purchase. For European Union citizens this procedure is straightforward in most

Negotiating a purchase

cases, but for Eastern European citizens or those

A good agent will also be immensely helpful to you

from the Middle East the procedure can take, in some

in negotiating the purchase of a property you are

cases, many weeks. So, if you know you are going to

interested in buying. It is important to remember that

be eventually buying a property it is good to get these

if your offer is too low it will not engage the interest

matters out of the way sooner rather than later.

of the seller, and might actually prove counter-

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Deposit and insurance

productive. An articulate offer will generally capture the attention of a vendor. We recommend getting all your points together, rather than negotiating “piecemeal.” Make your offer in writing if possible (of course, subject to contract). Points to include are not only the price, but also the deposit amount and when you are prepared to pay it, when you are prepared to complete the transaction, what you understand to be included in the price (for example furniture and fittings if applicable), and an often neglected point – that all technical equipment and installations should be in good working order. Also, if you have a second choice property you should advise the vendor of this fact.

Your lawyer can also be consulted during the negotiation to ensure that the terms of the offer meets his or her legal criteria, and on occasion will also become actively involved in more complex negotiations.

A quite normal deposit for completion within 30 to 60 days would be 10% of the agreed purchase price. New properties which are unfinished obviously are paid for over the construction period, and all payments on account before finishing must be guaranteed, according to LAW 38/1999, by a bank or insurance company: if the property is not finished by a certain date, a purchaser has the right to reclaim the monies paid, plus legal interests. Additionally, another law obliges the property developer to arrange a ten year insurance policy with respect to any basic building defects with the purchasers as beneficiaries.

The Escritura When the entire purchase price is paid for the property, the seller will issue the public deed of conveyance (escritura) to the purchaser, free of liens and encumbrances. This deed, issued before a Spanish Notary, is passed from the notary to the tax office to be assessed for Transfer Tax if the property is a resale or second hand property, or assessed for Stamp Duty if the property is sold directly by the developer. It’s then presented to the Property Registry for inscription. A provisional inscription in the registry is made immediately upon issuance of the deeds.

The purchasing process Actually purchasing a property in Spain is a relatively straightforward procedure. The “last word” in property ownership is the property registry, which will show immediately if the seller owns the property free of liens and encumbrances. Most frequently, unless an immediate payment of the full purchase price is made, a private contract of purchase is drawn up wherein the details of the purchase are reflected – the legal description of the property, purchase price, form of payment, date of completion and possession, etc. Upon signing the private contract, a payment on account is always made which can vary substantially according to the terms of the sale and the date of completion.

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Property Ref Nº 15601

Property purchase costs in Andalucía As detailed in the table below, the total official costs involved in purchasing a constructed residential property should be around 10-11 % for resale properties or around 12 % for new properties if VAT is paid on the purchase price, plus lawyer’s fees.

TRANSFER TAX (ITP) 7%

2%

Payable by the buyer for the purchase of any real estate (villas, flats, land, commercial premises, garages), provided the vendor is not a developer or normally trading in the business of resale properties (waiver to VAT exemption).

Reduced transfer tax for real estate companies or professionals that buy resale property and sell within 5 years.

OR

VAT (IVA) AND STAMP DUTY (AJD) 10%

1.2%

Villas, apartments, or a garage that is annexed to an apartment or villa, where the vendor is a developer or habitual trader for brand-new properties.

21%

1.2%

Parcels of land, for the first sale of brand-new commercial premises or brand-new independent garages.

+/- € NOTARY AND PROPERTY REGISTRY FEES The cost increases according to the number of pages or complexity of the title deed, 3,000 and value of the property.

MUNICIPAL ADDED VALUE TAX (PLUS VALÍA) This can be as little as a few hundred euros or as much as thousands on a property with a lot of land that has not changed hands in many years. It is a tax by the town hall based upon the increase in the index value of a property between the year of purchase to the year of sale.

This tax corresponds, by its nature, to the vendor who is responsible for its payment, unless otherwise negotiated.

LAWYER’S FEES

1% +VAT

Regulated by RICS

These are in the order of 1 % of the selling price, more or less, depending on the lawyer and the price of the property.

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OUR ASSOCIATIONS

CONFIDENCE THROUGH

Professional Standards

What is RICS? RICS, The Royal Institution of Chartered Surveyors, is the global professional body promoting and enforcing the highest international standards in the valuation, management and development of land, real estate, construction and infrastructure.

Founded in 1868, RICS currently has more than 130,000 professional members in more than 145 countries, specialising in different aspects of the real estate sector, including property valuation, consulting services, property brokerage and professional activities related to land, homes, buildings and construction.

Their development and enforcement of leading international standards, protects consumers and businesses by ensuring the utmost level of professionalism is employed across the built and natural environment.

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After Christopher Clover, owner and Managing Director of Panorama accepted a unanimous nomination as Eminent Fellow by the prestigious Royal Institution of Chartered Surveyors (RICS) in 2015, in 2022, two other members of Panorama, Christopher Clovers’ daughter, Katinka Clover, Director of Listings and Marketing departments and Alfonso Muñoz, Sales Coordinator and Assistant Sales Director, successfully passed the examination and case studies and became AssocRICS members.

Eduardo Fernandez-Cuesta FRICS, former President of RICS Spain, stated: “Christopher Clover is today, as he has been for the last 52 years, an outstanding example of leadership and professional commitment in the real estate sector. Christopher comes from a family lineage of more than 118 years in real estate, constantly promoting the collaboration among agencies and serving the public with outstanding professional

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Panorama continues to uphold their professional standards with two new staff members becoming Associate RICS members, and is the only residential real estate agency on the Costa del Sol regulated by RICS.

dedication and ethics. Only individuals recognised within the industry as a leader in their field, whose standing and achievements are beyond question and judged to be extraordinary, are considered for nomination to join RICS through the Eminent Route.

Also noteworthy are his annual Marbella Property Market Reports and many other articles related to real estate that he has been publishing for more than half a century. Christopher has contributed, and still contributes significantly today, to raising the standards of his profession.”

in the real estate world. RICS has my unconditional support in promoting and fostering their work and values.”

Christopher Clover commented: “I am quite surprised and deeply honoured to receive and accept this nomination from the most respected organisation

Alfonso Muñoz and Katinka Clover Latest AssocRICS members of the Panorama team

Panorama is regulated by RICS In 2016, based upon Mr. Clover’s fellowship with RICS and other qualifying factors, Panorama Properties was approved as a real estate agency “regulated by RICS”. As a regulated company Panorama conveys to its clients a message of confidence and quality, that it:

•

safeguards the security of client funds

•

manages its finances appropriately

•

provides adequate and appropriate indemnity

•

handles complaints and disputes fairly.

•

practises to globally recognised standards

•

behaves ethically, and acts with integrity and honesty

•

has the required skills, reputation and qualifications to provide a very high standard of professional services

As RICS state: “Any individual or firm registered with us is subject to our quality assurance. We’re proud of our reputation and we guard it fiercely, so clients who work with our registered professionals can have confidence in the quality and ethics of the services they receive.”

•

manages conflicts of interests transparently

Regulated by RICS

For more information about RICS visit: rics.org

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OUR ASSOCIATIONS

PANORAMA AND

John D Wood & Co.

By joining forces, the two companies aim to enhance the client experience, providing access to a broader range of luxury properties and exceptional service backed by a wealth of knowledge and experience.

With over 55 years of expertise and a wellestablished presence in Marbella, Panorama stands as the region’s longest-established estate agent, renowned for its deep local knowledge and exceptional service.

This partnership enhances Panorama’s international profile, providing clients with seamless access to premium properties and expert advice globally, reflecting a shared Left to Right: Robert Green, Director John D Wood & Co., Chris Clover, Managing Director Panorama, Alfonso Muñoz, Assistant Sales Director at Panorama, Alasdair Hedley, Head of International at John D Wood & Co.

commitment to excellence.

For John D Wood & Co., this partnership is equally transformative. It allows them to offer their clients unrivalled options in Marbella,

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Panorama has partnered with John D Wood & Co., a renowned UK estate agency. This collaboration combines over 200 years of industry expertise to offer unparalleled services to clients in both the UK and Marbella, Spain.

Spain, one of Europe’s most coveted locations for investment and leisure. This collaboration ensures their clients receive exceptional support and access to exclusive properties, backed by the local expertise and established reputation.

both the UK and Marbella. We are excited about the opportunities this collaboration brings.”

Polly Ogden Duffy, Managing Director of John D Wood & Co., commented, “Our partnership with Panorama represents a significant step in expanding our international reach.

Together, we will provide clients with exceptional service and access to exclusive properties in

Regulated by RICS

Alasdair Hedley, Head of International at John D Wood & Co., added, “This alliance with Panorama allows us to offer our clients unparalleled options in Marbella, ensuring they receive the finest properties and support from experts who understand the local market deeply.”

Christopher Clover, Managing Director of Panorama states: “Panorama, whose professional roots go back to 1904 with my grandfather’s first estate agency in Chicago, shares important professional values with John D. Wood. Working together with our respective, highly qualified teams will expand our market to clients who identify with these shared values and who are looking for the most professional and experienced real estate service possible in the Marbella area.”

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THE MARBELLA PROPERTY

Seller’s Guide

M

arbella is not a big city like London, Madrid or New York with a captive market within 50 kilometres of the centre. Instead, it’s a

small city with a mostly secondary housing market and a buying public spread out all over Europe and the world – a subtle but important nuance.

Most buyers are not looking for a primary residence here, but a second or even third home. This makes Marbella real estate less of a need and more of a luxury in which people are not drawn to property close to centres of work but to the

‘‘Most buyers are not looking for a primary residence here, but a second or even third home.

This makes Marbella real estate less of a need and more of a luxury...’’

quality of life a property can offer them. As a result, one characteristic of a secondary housing market is that especially luxurious properties can take a longer time to sell, though in our experience this is considerably shorter where both buyer and seller are serious in their intent.

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This brief article is intended to share some essential points about selling properties, based on our own experience of 55 years of selling properties in Marbella

the more the owners are going to have to resign themselves to the fact that there is a large supply of similar properties, and that they will have to price it competitively.

Avoid quoting a ‘net’ price One thing to avoid, if you intend to use agents to market your property, is listing on a net basis, where you want a fixed sum with the agent’s commission added on top. You can end up with a property marketed at several different prices, leading to confusion among potential buyers. Wise sellers will form a team with their agents and protect their agents’ commission, as they too expect to be protected and advised by their agents, and fix one sole asking price for the property, inclusive of commission.

Listings Department If you want to sell your property, call us on (+34) 952 774 266 or email: listings@panorama.es

Exclusivity or not?

Establishing an asking price

Should you give an exclusive sales agreement to an agent? If you are an absentee owner, or if you don’t feel like playing a co-ordination role among various agents, granting exclusivity to a leading agent can make your life a lot easier. It also provides the agency in question with the confidence to fully dedicate its energy and resources to the marketing and promotion of the property.

The most important thing to establish is a sales strategy, at the heart of which is the asking price. In other words, if you ask too much for your property, people will not bother to view and it will linger unseen. Ask too little for your property, and you are potentially throwing away money.

The right asking price is perhaps the most essential ingredient in the art of selling real estate and is the result of thorough market research. Do not opt for the figure you would like to hear, find out the true market value, taking into consideration: what sales of comparable properties have been accomplished, and at what price? What are other owners with similar properties asking?

A professional agency will propose a coordinated strategy based on its experience and adapted to the specifics of your property. This will include the creation of quality marketing material and targeted promotional campaigns.

The more unique a property, the more an owner can ask for it and the stronger they can negotiate when trying to seal a deal. The less unique a property, Regulated by RICS

A responsible agent will try to avoid taking a sole agency unless they sincerely feel that the asking price is correct and that they are truly capable of selling the property within the time frame allocated by the seller.

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Providing agents you trust with easy access to the home is important in order not to lose potential buyers, though a good agent will screen interested parties first. They will also offer advice on how best to present the property for viewings and approach the negotiation process.

Commission rates The standard agency fee in a resort area such as Marbella is 5% plus VAT, which covers the marketing, promotion, and listing of properties and the arranging of viewings, follow-up with prospective buyers, property searches, providing background information and support throughout the buying process and beyond. Agents don’t give keys out to clients, they always show properties personally and will spend a great deal of time to find the right buyer.

Your property in its best light First impressions count. When agents take clients to view your property, ensure that curtains and shutters are open to let lots of light flood the property.

Check your agent’s website to see how your property is presented, in terms of the photographs, the description and the accuracy of the information provided. While photography should be representative, it should also present your property as well as it can, enthusing potential buyers. To stand out from the crowd you may need professional images, especially indoors.

If there are any small repairs or repainting that would enhance the overall appeal of the property, it’s well worth getting this work done now to eliminate any small ‘objection factors’. Also, make sure your home is spotless for photography and viewings alike.

Get your main agent to put up their ‘for sale’ sign This always results in enquiries. Many potential buyers drive around different residential areas before going to an agent. Without a sign, they wouldn’t know your property is for sale. Not allowing a sign to be placed

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‘‘While photography should be representative, it should also present your property as well as it can, enthusing potential buyers. To stand out from the crowd you may need professional images, especially indoors. ’’

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Selling one’s property is an art FOR SALE

The property market in Marbella has always been competitive and sellers with less experience will achieve far better results if they take advice from experienced professionals.

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INITIAL CONSULTATION

DETERMINING PURCHASE PRICE

PHOTOGRAPHY & PRESENTATION

MARKETING YOUR PROPERTY

PROPERTY VIEWINGS

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SOLD GETTING AN OFFER

AGREEING AN OFFER

INSTRUCTING A LAWYER

EXCHANGING CONTRACTS

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COMPREHENSIVE AFTER SALES SERVICE

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Property Ref Nº 12772

is to block one of the many proven paths for reaching the market place. Our experience is that signs still help significantly in selling properties.

Facilitate viewings on as short a notice as possible. If you leave your keys with a neighbour who plays golf three times a week, you are losing a vital chance to show the property at the client’s convenience.

Bear in mind that the first properties that agents tend to show are the ones for which they have the keys.

Properties that need appointments to be set up in advance will generally be shown less.

Taxes Make sure that you are fully aware of your tax obligations when you put your property on the market. Meet with your lawyer and tax advisor, and find out your options to ensure there are no surprises when you enter into negotiations.

Negotiating a sale Let your agent form a team with you in handling negotiations, checking points with your lawyer and tax advisor when necessary. This is your agent’s job and one of the reasons you pay the agency’s

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fee, and experienced real estate professionals are generally far better at negotiating the commercial points of a deal than lawyers. Once this is accomplished, your lawyer should take the lead role (in coordination with your agent), draft the sales contract and supervise the completion of the sale. If you are frequently travelling, it can often make sense to leave a Power of Attorney enabling your lawyer to sign a private contract on your written instructions.

You can negotiate the details of the sale with your agent by telephone and email, and your lawyer can then take the ‘first step’ towards the sale by signing a private contract without delay.

Don’t allow yourself to be pressured by your agent or anyone else to accept an offer! A good agent will simply point out your options and offer advice based on their experience, but once you decide to proceed it is good not to waste time and risk losing the buyer.

In summary, selling a property can be as easy or as complicated as any task involving one’s personal affairs. Competent, honest, professional help from agents, lawyers and tax advisors can go a long way to help you manage your sale objectively and easily.

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Points to consider Is the buyer expecting a counter offer from you or have they given you a oneand-only, take-it-or-leave-it offer?

Do they have other properties in mind?

Is their offer a fair one?

Are all details included in the offer – price, target contract date, deposit, completion date, an understanding of what is included in the sale in the form of fixtures, fittings and furniture, etc.?

All these items should be agreed upon at the outset before lawyers are instructed.

“My property has been on the market for months and I’m hardly getting any viewings.”

The only time this might be considered to be normal is if your property would only be of interest to a small crosssection of buyers or, if it is overpriced. If neither applies, your property is not getting enough market exposure. Our advice: speak to your agent or seek the advice of another well-established agency with a good reputation. An accurately priced and marketed property should be getting a regular stream of clients viewing it.

“All the clients that agents bring to my property are time-wasters.”

Are they really? If you are getting lots of viewings and no offers on your property, chances are your property is not as unique as you’d like to think it is. It likely needs to be reduced in price or perhaps you could consider making market-driven renovations in order to increase its appeal. And always remember, selling a property in many ways is a numbers game. The more people who view it, the better chance there is of one of them falling in love with the property and buying it.

“I really need to sell my property NOW.” If you need to sell your property quickly, you need to be prepared to price it at a heavy discount when compared to similar properties on the market. This is when you need a very knowledgeable agent working for you who can suggest the price that will achieve the sale.

“How much negotiation room should I build into my asking price?”

With the help of your agent we recommend pricing the property taking into consideration not only similar asking prices, but also prices at which similar properties have actually sold.

Many buyers are very knowledgeable today and will recognize a realistically-priced property, but bear in mind that few will want to pay the full asking price, so leave some room for negotiation.

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THE TOP 10 REASONS

Buyers & sellers choose Panorama

By Alex Clover

When making one of life’s most important decisions, whether buying or selling a property, it pays to trust professionals with a proven track record. Panorama, Marbella’s longest-established real estate agency, has been helping clients for over 55 years.

Here are 10 reasons why buyers and sellers continue to choose Panorama with complete confidence:

1. Unmatched experience Founded in 1970, Panorama brings more than five decades of specialised knowledge of the Marbella market. Having weathered the highs and lows of multiple property cycles, our team provides clients with honest advice, a long-term perspective, and solutions grounded in real experience. Few agencies can match the depth of insight we’ve acquired through thousands of successful transactions.

2. Professional standards & ethics We are one of only two residential agencies in Spain, and the only one on the Costa del Sol, regulated by the Royal Institution of Chartered Surveyors (RICS).

After Christopher Clover, owner and Managing Director of Panorama, accepted a unanimous nomination as Eminent Fellow by RICS in 2015, two other Panorama team members – his daughter Katinka Clover, Member of the Board of Directors, and Alfonso Muñoz, Sales Coordinator & Assistant Sales Director – successfully became AssocRICS members in 2022. This ensures our clients benefit 74

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from internationally recognised codes of conduct, transparency, and third-party protection –safeguards rarely found in our industry.

3. Industry Recognition & Leadership Panorama’s dedication has been recognised with the International Property Awards’ highest distinction for a single real estate agency in Spain in 2020, 2021, and 2022. Our Managing Director and Board Chairman, Christopher Clover, is a Fellow of RICS, the Honorary President of the Leading Property Agents of Spain (LPA), and was named Leading Businessman of the Year 2024 by Marbella’s prestigious CIT business association. These honours reflect Panorama’s role in raising standards and contributing to the community, both within the real estate industry and the wider business sphere.

4. Professionalism & transparency Our reputation rests on integrity, accuracy, and discretion. We never exaggerate, we never overvalue, and we always strive to match the right property with the right buyer. Sellers benefit from realistic valuations and sound advice, while buyers can trust that their investment decisions are guided by facts, not fiction.

5. A full-service agency Unlike agencies focused on just one sector, Panorama offers a full range of services: residential sales, rentals, plots, development land, and commercial properties. We also provide consulting

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Panorama’s Management Team

services for investors and developers, as well as a dedicated Client Services Department to help clients settle into their new home.

6. A personal, client-centred approach Our team of over 30 multilingual professionals ensures each client receives dedicated attention and care.

Many of our clients return to us again and again, and much of our business comes through personal referrals. We invest time in truly understanding our clients’ needs, whether it’s a family searching for their dream villa or a seller seeking maximum visibility for

In addition to our collaboration with John D Wood, we operate Puente Romano Real Estate in partnership with Puente Romano and Nobu Hotel Marbella. This unique collaboration ensures our sellers’ properties are showcased to high-net-worth visitors from across the world, dramatically enhancing marketing exposure.

their property.

7. International reach With clients from all over the globe, our multilingual team speaks 12 languages and understands the cultural nuances that influence property decisions.

Beyond Marbella, our affiliations with John D Wood & Co. in London and their network of more than 2,000 international partner offices guarantee exceptional property exposure.

8. Prime office locations Our two offices are strategically located in the very heart of Marbella’s Golden Mile: our headquarters opposite the Marbella Club Hotel, and our sales office inside Puente Romano Marbella, adjacent to the Nobu Hotel reception. These locations provide unparalleled visibility and direct access to both local and international clients.

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9. Partnerships that maximise exposure

10. Results that speak for themselves Ultimately, the reason clients choose Panorama is simple: results. We consistently achieve successful sales and satisfied clients by combining market expertise, innovative marketing, and personalised service. Whether buying or selling, Panorama offers you peace of mind and a level of service unmatched in the Marbella property market.

With over 55 years of history, Panorama is more than just a real estate agency. We are a trusted advisor, a market leader, and a family-run company dedicated to helping our clients achieve their property goals in Marbella.

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Team Christopher Clover Managing Director Board Chairman

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Panorama’s team comprises 29 professionals in sales, administration, consulting and marketing, who work from two offices on the Golden Mile. The team speak 12 different languages between them.

Katinka Clover Member of the Board of Directors

Alex Clover Member of the Board of Directors

Lorenzo M Soriano Member of the Board of Directors

Sean Cannon Sales Director Board of Directors

Alfonso Muñoz Sales Operation Manager

Gonzalo Ruiz Administration Director

Carolina Alaniz Support Team Director

Luca Solari Listings Director

Jo Borda Client Services Director

Marco Dalli New Business Development

Christopher Lawton Property Consultant

Steve Barre Property Consultant

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Johan Olson Property Consultant

Ash Rasoulian Property Consultant

Samia Mohamdi Property Consultant

Eva Kiepel Property Consultant

Evi Tinno Listings Consultant

Natasha Romanov Listings Consultant

David Montero Marketing Associate

Vanesa Mena Marketing

Sarina Garber Rentals Consultant

Beatriz Garvayo Rentals Consultant

Sian-Ellen Roskott Rentals Consultant

Silvina Rigada Holiday Rentals Manager

Loli Vazquez Assistant to Administration Director

Ángela de la Yglesia Sales Office Manager

Adriana Tocino Sales Office Administrator

Lorena Alaniz Quality Control Manager

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Looking to rent in Marbella?

Handpicked luxury villas, apartments and townhouses in incredible locations, available for both long-term and short-term rent in Marbella and the surrounding areas. See page 220. (+34) 952 901 015 | rentals@panorama.es | panorama.es 78

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Marbella’s

FINEST PROPERTIES FEATURED PROPERTIES

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PUENTE ROMANO

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GOLDEN MILE

128

NUEVA ANDALUCÍA & PUERTO BANÚS

160

SAN PEDRO, GUADALMINA & CASASOLA

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BENAHAVÍS, LA QUINTA & LA ZAGALETA

186

NEW GOLDEN MILE

204

MARBELLA EAST

212

PROPERTIES FOR RENT

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The information contained in this magazine is provided in good faith and believed to be accurate at the time of publication.

Nevertheless, it is subject to error or omission, and the properties advertised are also subject to prior sale, price change or withdrawal from market. Legal diligence files are available for every property visited by a client. Energy certificates for each property are available upon request.

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FEATURED PROPERTIES Villa Goya

“This mansion is a grand and peaceful retreat surrounded by nature, on an extensive plot offering complete privacy.”

Johan Olson, Property Consultant

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Beds / Baths: 8 / 7 + 3 Total Built:

1,300 m2

Interior:

1,048 m2

Terraces:

252 m2

Plot:

12,481 m2

Price:

€ 13,900,000

Villa Goya

Villa Goya is a true architectural masterpiece.

Perched in the hills above San Pedro this exceptional Andalusian estate lies within the prestigious gated community of El Madroñal.

BENAHAVÍS: EL Madroñal | Ref: 15624 | Map: p236, Nº31 Regulated by RICS

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FEATURED PROPERTIES Villa Goya

This exceptional estate, designed by renowned architect César de Leyva is set across two grand plots and enveloped by mature pine trees and natural landscaping, ensuring seclusion. The property enjoys 24-hour security and panoramic views of the Mediterranean, La Quinta Golf Course, and the surrounding mountains.

Ideally positioned on the Ronda Road, the prestigious El Madroñal is one of the regions most elite gated communities, celebrated for its tranquility, elevated vistas, and countryside charm.

Despite its privacy, it lies just 10 minutes from the vibrant town of San Pedro de Alcántara and 15 minutes from the glamour of Puerto Banús. Marbella town is only 20 minutes away, offering an ideal balance of exclusivity and accessibility.

Arrival is marked by a cobbled courtyard with a central fountain, exuding understated elegance. Adjacent, a double garage and private staff apartment, with separate entrance and parking, combine functionality with flexibility. Parking space may be extended to house four or five cars.

The dramatic triple-height entrance hall sets the tone with exposed wooden beams, >>

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FEATURED PROPERTIES Villa Goya

a feature fireplace, and a guest cloakroom. From here, the home flows into the main living areas, where classic Andalusian charm meets modern scale and comfort.

A cozy TV room and formal dining space, each with its own fireplace and garden access, offer warm, intimate settings. The dining area connects to a beautifully appointed kitchen with wooden floors, an informal dining nook, and its own fireplace – ideal for family gatherings. >> Regulated by RICS

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FEATURED PROPERTIES Villa Goya

Accommodation includes several en-suite bedrooms, notably a luxurious master suite with a private lounge and sea-view terrace on the upper level. A guest suite next to the pool offers complete independence for visitors or extended family.

A highlight is the study, discreetly accessed via a hidden door and added in 2013, with cathedral ceilings, wooden floors, a fireplace, and access to both courtyard and private balcony, it offers a refined, inspiring retreat.

The landscaped gardens are exquisite, centred around a generous pool and two gazebos, one with a Jacuzzi. A stunning pine-shaded path leads to a floodlit tennis court, complete with storage and changing facilities. Mature pomegranate, fig, orange, and olive trees enhance the property with timeless Mediterranean character.

Built in 2000 and maintained to the highest standards, this is a rare opportunity to acquire a grand estate offering total privacy in one of Marbella’s most sought-after and distinguished residential enclaves, just moments from the coast.

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FEATURED PROPERTIES Villa Goya

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FEATURED PROPERTIES Villa Allure

OUR COVER PROPERTY PUBLISHED BY PANORAMA, MARBELLA’S LONGEST ESTABLISHED REAL ESTATE AGENCY

Marbella Property Market Report 2026

100 of Marbella’s most elegant homes for sale & rent

Branded residences: the new language of luxury

Step-by-step Buyer’s and Seller’s guides

GOLDEN MILE: Cascada de Camoján | Ref: 13435 | Map: p235, Nº11 “Villa Allure is a once-in-ageneration masterpiece, the kind of home discerning buyers wait years to find.”

Katinka Clover, Member of the Board of Directors

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Beds / Baths: Total Built: Interior: Terraces: Plot: Price:

6/6+2 1,347 m2 1,079 m2 268 m2 2,000 m2 € 14,950,000

Villa Allure

At the pinnacle of Marbella’s Golden Mile, Villa Allure, designed by renowned architect Miguel Tobal, balances architectural brilliance, bespoke interiors, and unmatched privacy.

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FEATURED PROPERTIES Villa Allure

Villa Allure welcomes you with a soaring double-height entrance, where craftsmanship sets the tone for the home’s refined elegance.

The open-plan reception flows seamlessly between living spaces, framed by full-height windows that capture sweeping views of the Mediterranean. Every detail, from the Modulnova kitchen with Gaggenau appliances to the state-of-the-art wine cellar, elevates daily life into an experience of understated grandeur.

Every aspect of Villa Allure has been designed to transform daily living into a statement of elegance and artistry.

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FEATURED PROPERTIES Villa Allure

Villa Allure at-a-glance

The first floor reveals a master suite worthy of a five-star retreat, complete with a private terrace and panoramic coastline views. Three additional bedroom suites echo this same generosity of space and refinement, ensuring family and guests are equally indulged.

Prestigious Cascada de Camoján location Architecture by Miguel Tobal Panoramic Mediterranean views

On the lower level, wellness and leisure converge. A heated indoor pool, hammam, and sauna create a private spa sanctuary, while a gym, games room, and bar make it ideal for sophisticated entertainment. An expansive garage for more than six cars discreetly underscores the lifestyle Villa Allure affords.

Technology is woven into the home with an Regulated by RICS

Master suite + 5 en-suite bedrooms Private wellness centre with indoor pool Modulnova kitchen with Gaggenau appliances Six-car garage & landscaped gardens with pool

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FEATURED PROPERTIES Villa Allure

advanced domotic system that manages lighting, climate, and security at a touch.

Outside, landscaped gardens and a large swimming pool extend the villa’s serene ambience into nature.

Villa Allure is more than a residence, it is a legacy of privacy, luxury, and refined living.

Set within the prestigious gated community of Cascada de Camoján, this property is not simply a home but a landmark of architectural and lifestyle excellence.

Villa Allure stands as an enduring symbol of Marbella’s most coveted living.

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Every aspect of Villa Allure has been designed to transform daily living into a statement of elegance and artistry

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FEATURED PROPERTIES Villa Marea

MARBELLA EAST: Los Monteros | Ref: 15829 | Map: p237, Nº42

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“Ideal for discerning buyers looking for exclusivity, design, and an unbeatable location.”

Beds / Baths: 6 / 6 + 1

Luca Solari, Listings Director

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Total Built:

1,229 m2

Interior:

750 m2

Terraces:

479 m2

Plot:

1,500 m2

Price:

€ 11,950,000

Villa Marea

A bold architectural statement on the shores of Los Monteros. With its dramatic design and unbeatable beachside setting, Villa Marea is extraordinary inside and out, offering stunning sea views in a setting of absolute exclusivity.

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FEATURED PROPERTIES Villa Marea

Villa Marea is set on the beachside of the prestigious Los Monteros Playa. It’s a striking example of contemporary design meeting prime Mediterranean location.

This extraordinary villa offers the rare combination of access to the beach, bold architecture, and refined interiors, all within one of Marbella’s most secure and sought-after gated communities.

From the moment you enter, the home impresses with lightfilled spaces, soaring ceilings, and panoramic views of the sea.

The open-plan living and dining area is anchored by a sleek designer fireplace and connects seamlessly to a spacious terrace overlooking the pool and the Mediterranean beyond. A stateof-the-art kitchen, fully equipped with premium appliances, blends effortlessly into the social heart of the home, ideal for entertaining >> 94

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FEATURED PROPERTIES Villa Marea

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FEATURED PROPERTIES Villa Marea

or relaxing in style. Also on the main level is a generously sized en-suite bedroom, a guest toilet, and a dramatic double-height office space that is filled with natural light.

Upstairs, four en-suite bedrooms all enjoy sea views. The master suite is particularly impressive, featuring a walk-in wardrobe, fireplace, and spa-style bathroom with terrace access and sweeping views of the coastline.

The rooftop level has been transformed into a spectacular solarium with a chill-out space and jacuzzi, offering uninterrupted views across the sea to Gibraltar and the African coast. This private sanctuary is accessible via a lift that connects all floors of the villa.

On the lower level, a large garage accommodates five cars, while a multipurpose room can be tailored as a gym, cinema, spa, or games room. This floor also includes a fifth en-suite bedroom, laundry, storage, and technical rooms, all finished to exacting standards.

Technology and comfort are central to the home’s design. Villa Marea is equipped with underfloor heating throughout, zoned air conditioning, a state-of-the-art home automation system, and 24-hour security.

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FEATURED PROPERTIES Villa Marea

Expansive glass walls, minimalist detailing, and top-tier materials all contribute to an ambiance of modern sophistication and effortless luxury.

Location is equally exceptional. Just moments from the iconic Hotel Los Monteros and across from the renowned La Cabane Beach Club, Villa Marea places you close to some of Marbella’s finest dining, golf, and leisure offerings—yet within a private and peaceful enclave.

Whether as a primary residence or an exclusive holiday retreat, Villa Marea offers a front-row seat to the Mediterranean and a lifestyle defined by architectural excellence, comfort, and coastal prestige.

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FEATURED PROPERTIES Villa Medusa

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“An impressive property with panoramic views and an incredible garden”

Beds / Baths: 6 / 5 + 2

Sean Cannon Sales Director

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Total Built:

1,923 m2

Interior:

1,807 m2

Terraces:

116 m2

Plot:

4,246 m2

Price:

€ 15,000,000

Villa Medusa

This stunning mansion, located on a double plot in the prestigious Sierra Blanca area, offers panoramic sea and mountain views, creating an extraordinary backdrop for luxury living.

GOLDEN MILE: Sierra Blanca | Ref: 10146 | Map: p237 , Nº10

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FEATURED PROPERTIES Villa Medusa

This elegant property is filled with unique features, including handmade domes, murals, and columns sourced from around the world, adding a distinct and timeless charm to the home.

Distributed over three levels. It is a true masterpiece of design and craftsmanship.

Upon entering, you are greeted by an impressive entrance hall with a handmade Moorish-style dome, setting the tone for the exceptional attention to detail found throughout the property.

This level also features a stunning Alhambra-style interior central patio with a fountain, creating a peaceful and serene ambiance.

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FEATURED PROPERTIES Villa Medusa

The expansive living room offers three distinct seating areas, highlighted by a Moorish handmade fireplace and access to a covered porch, perfect for relaxing or entertaining. Adjacent to the living room is a formal dining room, ideal for hosting guests in style. The Gaggenau kitchen is complemented by a breakfast area, pantry, and an independent entrance, making it as functional as it is beautiful.

Additionally, the entrance level features a beautifully crafted wooden study, inspired by a study in the Lanesborough Hotel in London, an en-suite bedroom, and a guest toilet. >> Regulated by RICS

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FEATURED PROPERTIES Villa Medusa

The upper level is dedicated to the private living spaces, including an enormous master en-suite bedroom that boasts a private terrace with stunning views of the garden and the Mediterranean Sea. There are also two additional en-suite bedrooms, a cozy TV room, and a store room for extra convenience.

The lower level is designed for both practical and recreational purposes, featuring a garage with space for six cars, a temperaturecontrolled wine cellar, a staff apartment with an en-suite bedroom, a tool room, and a utility room. The highlight is the fully-equipped gym, complete with a sauna and shower, perfect for maintaining an active lifestyle. There is also a guest toilet and an outdoor covered parking area for an additional six cars.

A charming and independent guest house, offers a comfortable lounge with a fireplace, a kitchen, and two bedrooms that share a bathroom, making it perfect for visitors or extended family, located to the left of the entrance.

The stunning mature landscaped garden that surrounds the home, includes an enormous heated pool, a pool house with a dining area, changing room, and toilet, providing 102

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FEATURED PROPERTIES Villa Medusa

the ultimate outdoor living experience.

Special features include underfloor heating, security cameras, handmade tiles in the bathrooms, marble floors throughout, and many other unique design elements that make this property truly one-of-a-kind.

With 24-hour security, this exceptional estate must be seen to be fully appreciated. A rare opportunity to own a luxurious and unique property in one of the most sought-after locations.

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Branded Residences Marbella has long been a byword for glamour, exclusivity, and Mediterranean living at its most refined. Yet even in a city that thrives on reinvention, few projects have captured the imagination quite like Design Hills Marbella by Dolce&Gabbana. This bold new development, perched above Marbella’s legendary Golden Mile, is more than a residential project — it is the meeting of haute couture and high-end architecture, bringing the signature creativity of Dolce&Gabbana into a permanent Mediterranean address.

A vision of lifestyle, not just property In the last decade, the rise of branded residences has redefined luxury real estate across the world.

From Miami to Dubai, the world’s leading designers and hospitality groups have paired their name with residences that go far beyond bricks and mortar, offering curated lifestyle experiences. Design Hills Marbella is the most ambitious interpretation of this concept in southern Europe, and Dolce&Gabbana’s first foray into residential design in Spain.

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Even in a city that thrives on reinvention, few projects have captured the imagination quite like Design Hills Marbella by Dolce&Gabbana

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Branded residences are one of the fastest-growing trends in global real estate, combining the prestige of world-renowned names with architectural innovation and five-star services. For buyers, they offer both confidence and cachet: a home that is as much a statement of design as it is a lifestyle investment.

In Marbella, these projects are reshaping the market, as international brands and leading developers collaborate to set new benchmarks in style, exclusivity, and modern Mediterranean living.

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The partnership makes intuitive sense. Dolce& Gabbana, a brand synonymous with Italian artistry, Mediterranean heritage, and contemporary glamour, finds a natural home in Marbella. The development promises not only cutting-edge design and architecture, but also the intangible quality that defines both the brand and the city: la dolce vita.

The Golden Mile, redefined The location could not be more fitting. Rising gently above Marbella’s famous Golden Mile, the residences enjoy uninterrupted views of the Mediterranean Sea, Gibraltar, and the coast of Africa on clear days. Yet they are only minutes away from Puente Romano, Marbella Club, and the fine dining, boutiques, and nightlife that have cemented this stretch of coastline as one of the world’s most desirable addresses.

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Here, the balance between privacy and proximity is delicately struck. Residents are cocooned in an elevated natural setting, with landscaped gardens and modern architecture that blends seamlessly into the hillside, while the glamour of Marbella remains on their doorstep.

Architecture with a couture sensibility What sets Design Hills Marbella apart is not only its scale but also its aesthetic vision. The development consists of terraced residences and apartments designed with flowing, organic lines that echo the natural slope of the land. Floor-to-ceiling windows flood interiors with light, framing endless panoramas of sea and sky.

Every detail, from the selection of natural materials to the fluidity of the living spaces, reflects the couture philosophy of Dolce&Gabbana, a marriage of tradition and innovation, precision and artistry.

Just as a tailored garment enhances the individual, these residences are designed to elevate daily life into an experience of beauty and ease.

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Every detail, from the selection of natural materials to the fluidity of the living spaces, reflects the couture philosophy of Dolce&Gabbana Interiors by Dolce&Gabbana Casa The interiors carry the unmistakable imprint of Dolce&Gabbana Casa, the design line that translates the brand’s fashion DNA into furniture, textiles, and homewares. Expect bold patterns, rich textures, and a celebration of Mediterranean colour palettes, but always balanced with modern refinement. Kitchens, lounges, and bedrooms are more than functional spaces: they are stage sets for a life of elegance, comfort, and effortless entertaining.

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Customisation is a key element. Owners are able to select from curated design packages, each reflecting a different facet of Dolce&Gabbana’s world, from timeless Sicilian romance to sleek contemporary glamour. The result is a collection of homes as individual as their owners, yet unified by a sense of identity and prestige.

A world of amenities Design Hills Marbella has been conceived not merely as a place to live but as a private resort. The development incorporates exclusive amenities that rival those of a five-star hotel: multiple infinity pools, a private members’ club, wellness spa, state-of-the-art fitness facilities, coworking lounges, and fine dining venues infused with Dolce&Gabbana’s signature style.

Residents will also benefit from dedicated concierge services, ensuring that every need — from private chefs to yacht charters — can be seamlessly arranged. In every detail, the ethos is one of curated living, where convenience and luxury are indistinguishable.

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Customisation is a key element.

Owners are able to select from curated design packages, each reflecting a different facet of Dolce&Gabbana’s world, from timeless Sicilian romance to sleek contemporary glamour

www.panorama.es

Marbella joins the global stage The arrival of Dolce&Gabbana branded residences in Marbella is more than a local development, it is a statement about the city’s place in the world. Alongside London, Miami, and Dubai, Marbella is now firmly positioned as a hub for global luxury, attracting a new generation of international buyers who seek both investment security and lifestyle distinction.

The future of branded living in Marbella Design Hills Marbella by Dolce&Gabbana is more than a development: it is the embodiment of a trend that is reshaping high-end real estate across the globe. For buyers, the appeal lies in the reassurance of a world-class brand, the artistry of bespoke design, and the promise of a lifestyle that extends far beyond the home itself.

For Marbella, it marks a new chapter. A city that has continually redefined Mediterranean luxury now has a flagship project that blends fashion, architecture, and lifestyle in unprecedented ways.

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Residents will also benefit from a dedicated concierge services, ensuring that every need, from private chefs to yacht charters, can be seamlessly arranged

For more information on this iconic project, and to reserve your own apartment:

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THE SUMMIT MARBELLA

BY ELIE SAAB

When today’s luxury buyers ask for style, technology, and a connection to nature, VASARI GROUP listens – and delivers. Their collaboration with legendary fashion house Elie Saab has brought to life a collection of five extraordinary villas in Marbella.

Located in the exclusive Cascada de Camoján enclave, surrounded by protected natural landscapes and just minutes from the city, these 1,000 square-metre homes sit on generous plots of up to 2,400 square-metres.

Inspired by Mediterranean clean, breezy aesthetic, the villas offer refined yet relaxed spaces full of light and calm. Think sea views stretching to Gibraltar and Africa, sculpted architecture, and a seamless blend of nature and luxury.

“This collaboration with a designer we’ve long admired has been a true privilege.”

The result is a new benchmark for modern Mediterranean living.

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Its 56 extraordinary properties sit on a 48,000 square-metre plot with five-star services, just 800 metres from the beach.

This is an impressive project of exceptional properties, a unique concept of luxury apartments and penthouses designed and decorated by the prestigious Italian brand, FENDI CASA.

exclusive branded experience, from the architectural design, interior detailing and choice of luxury materials to the premium facilities and services available exclusively to residents.

This development is the first of its kind on southern Spain’s Mediterranean coast, blending the DNA of an iconic fashion brand with super-prime properties that redefine luxury living.

This fast-evolving concept in luxury property isn’t simply about putting a brand’s name on a building. It’s about bringing the finest details of the brand’s essence and value into every element of the residences’ design and the experience of living in them. Owners can design elements of their own home with FENDI CASA’s creative team and find inspiration by visiting the fashion brand’s headquarters in Rome.

The landmark project sees Sierra Blanca Estates and FENDI CASA bring their combined expertise and reputations, honed over many years, to a branded residence experience of unprecedented quality.

Its 56 extraordinary properties sit on a 48,000 square-metre plot just 800 metres from the beach.

With five-star services on tap, residents can enjoy living in the finest branded residences in Spain.

It provides owners with an all-encompassing and

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Leisure amenities include a beautifully-designed spa and wellness centre, and a multi-use indoor sports space with a professional basketball court, golf simulator and the latest Technogym equipment.

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Five exclusive homes, designed by Karl Lagerfeld, perfectly integrated into the lush nature of Marbella’s Golden Mile.

KARL LAGERFELD VILLAS stem from Karl’s passion for architecture, interior design and constantly pushing the envelope of innovation.

The lifestyle-oriented environment harmoniously incorporates the local landscape through elevated architecture and a focus on sustainability.

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Natural construction materials allow the spaces to merge seamlessly with their surroundings, blurring the artistic boundaries of the homes’ interior and exterior design. This luxury oasis is strategically located between the mountains and the Mediterranean coastline, offering its residents panoramic views from every angle.

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A unique project, with it's design inspired

by Automobili Lamborghini, an architectural prodigy brought to life by DarGlobal.

The project is located in a privileged area in Benahavís, nestled in the hills of Los Jaralillos, just a few minutes drive from all services and 15 minutes from Marbella.

It is a project of 53 spectacular homes with three different villa types, with four, five and six bedrooms on plots of between 1,000 and 2,881 square-metres.

Carefully constructed at different levels on the hills, the villas enjoy views of the sea, mountains and golf courses. There is 24hour security, video surveillance and a full concierge service. Homes have fully furnished and equipped kitchens, pools, cinema, SPA with sauna and Turkish bath, multipurpose room, elevator and wine cellar.

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Puente Romano is in the very centre of the Golden Mile, midway between Puerto Banús and Marbella, and is Marbella’s most exclusive residential area. It comprises the famous five-star hotel, the Nobu Hotel, Puente Romano Phase II, Marina Puente Romano, and Las Terrazas de Puente Romano.

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PROPERTIES IN

Puente Romano

Puente Romano Marbella is a five star, Grand Lux Leading Hotel of the World and offers an extensive area of low-rise luxury accommodation, spread out on both sides of large, sub-tropical gardens, which offer 400 species of plants from five continents.

The hotel itself has 287 “keys” most of which are large studios, or one-bedroom suites. Some of the privately-owned apartments come onto the market from time to time. When they do, they are usually snapped up in a month or two.

Puente Romano Phase II is located directly in front of the reception of the Nobu Hotel and borders the eastern boundary. It has 78 one and two bedroom apartments, located in several blocks in the form of a “horseshoe” around beautiful pools and gardens.

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maintained community.

Marina Puente Romano is adjacent to the hotel to the west and totals 234 apartments, divided into 3 different styles of gardens: Andalusian Gardens with 72 apartments, Persian Gardens with 84 apartments, and Japanese Gardens with 78 apartments. In many people’s opinion, it is the best located beachside/beachfront estate in Marbella.

Las Terrazas De Puente Romano is perfectly positioned right behind the Japanese Gardens of Marina Puente Romano, to the west of the tennis club, an easy walk to the beach. It offers spacious apartments and spectacular penthouses with breathtaking views across the sea. www.panorama.es

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Puente Romano Marbella, Marina Puente Romano & Phase II Terrazas Puente Romano Japanese Gardens Persian Gardens Villas Magna Andalucían Gardens Puente Romano Phase II Puente Romano Hotel

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MARINA PUENTE ROMANO: Andalusian Gardens | Ref: 14907 | Map: p235, Nº36

Luxurious, duplex beachside penthouse Renovated to the highest specifications, this bright and spacious duplex penthouse spans two levels, boasting an intelligent design that maximizes comfort and functionality. With its elegant design, top-tier amenities, and prime location, it offers a unique opportunity to experience the best of Mediterranean living. Also available for rent.

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Beds Baths: Built: Terraces: Price:

3 3+1 190 m2 59 m2 € 6,750,000

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MARINA PUENTE ROMANO: Persian Gardens | Ref: 14336 | Map: p235, Nº36

Beachfront gem in Marina Puente Romano Unique, recently refurbished ground floor apartment with breathtaking sea views in Marina Puente Romano. Exquisitely finished and decorated, it is set in the best position with all of the resort facilities at hand. Lovely open-plan layout in the main living area. Wonderful, spacious beachfront terrace with direct access to the gardens.

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Beds Baths: Built: Terraces: Price:

3 3+1 137 m2 30 m2 € 6,995,000

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MARINA PUENTE ROMANO: Japanese Gardens | Ref: 14234 | Map: p235, Nº36

Exclusive, beachside garden apartment Southwest-facing, refurbished beachside apartment, on an elevated ground floor allowing for partial sea views. The fully equipped kitchen has a separate terrace with sea views, perfect for enjoying a morning coffee. The beautiful Japanese Gardens are completely gated and situated beachfront, with direct access to the beach.

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Beds Baths: Built: Terraces: Price:

3 3 151 m2 47 m2 € 3,850,000

MARINA PUENTE ROMANO: Andalusian Gardens | Ref: 14495 | Map: p235, Nº36

Stunning and bright first floor apartment Renovated in a contemporary style, using only the finest materials.

Bright and spacious feel, enhanced by its dual orientation and large floor-to-ceiling windows that create a seamless connection between indoor and outdoor living. Fitted with top appliances and has air conditioning and underfloor heating throughout.

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3 3 150 m2 52 m2 € 3,800,000

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PUENTE ROMANO: Terrazas de Puente Romano MARINA PUENTE ROMANO: Japanese Gardens | | Ref: Ref:15068 14482 | | Map: Map:p210, p235,Nº36 Nº36

Elevated, beachside, garden apartment Set in this beachfront community with direct access to the beach and spanning a total area of 185m², this spacious apartment has been partially refurbished. Fully fitted kitchen and laundry room. Lovely, large terrace with direct access to the gardens and with partial views to the sea. Parking space included.

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Beds Baths: Built: Terraces: Price:

3 3 144 m2 41 m2 € 3,250,000

MARINA PUENTE ROMANO: Andalusian Gardens | Ref: 15580 | Map: p235, Nº36

Exquisite, modern apartment with open views West-facing renovated apartment, bathed in natural light and boasting breathtaking views of the Mediterranean-style gardens and the tranquil pool. The spacious private terrace is the perfect spot to soak up the afternoon sunshine. Fully refurbished with luxury finishes and BoConcept furniture. Private parking and storage with elevator access.

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3 3 118 m2 18 m2 € 2,995,000

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PUENTE ROMANO: Phase II | Ref: 15494 | Map: p235, Nº35

Beachside, ground floor apartment Elevated apartment with 150 m² of beautifully designed living space.

Recently renovated and tastefully decorated to create a sophisticated yet welcoming atmosphere. The spacious terrace is one of the highlights of this property with beautiful views of the resort’s mature gardens and swimming pool.

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Beds Baths: Built: Terraces: Price:

2 2 88 m2 37 m2 € 2,425,000

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By ANDREA BÖCK (+34) (+34)952 952863 822750 111 129

Marbella’s Golden Mile starts at the western edge of Marbella and extends for some five kilometres as far as the Río Verde, which is just before Puerto Banús, and stretches up to La Concha mountain, which gives Marbella its special micro-climate.

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PROPERTIES ON THE

Golden Mile

The term “Golden Mile” was coined in the early 1980’s by Roy Boston, the German singer turned successful property developer, who had an untimely death in the late 1980’s, and for whom a road has been named near his prize-winning development Alhambra del Mar, on the edge of Marbella city.

Marbella’s Golden Mile starts at the western edge of Marbella and extends for some five kilometres as far as the Río Verde, which is just before Puerto Banús, and stretches up to La Concha mountain, which gives Marbella its special micro-climate. It was given its name due to the numerous beautiful estates and establishments within this area, including the Marbella Club Hotel, and the many beachside mansions adjacent to it, where the origins of quality tourism in Marbella began in 1954; Regulated by RICS

the Puente Romano resort; and beautiful urbanisations such as Cascada de Camoján, Marbella Sierra Blanca, Las Lomas del Marbella Club, the development of the Bismarck family, known as the Marbella Hill Club, and Rocío de Nagüeles.

Individual estates include many of the most magnificent mansions in Marbella, not the least of which are the Palaces of the late King Fahad and his brother, King Salman bin Abdel Aziz. Also located along the Golden Mile are Panorama’s two offices, one in Puente Romano Marbella and the other just opposite the Marbella Club Hotel. www.panorama.es

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GOLDEN MILE: Sierra Blanca | Ref: 13092 | Map: p235, Nº13

One-of-a-kind estate Built to the highest specifications in a Tuscany-palazzo-estate style and recently finished offering spacious rooms and high ceilings of 3.5 metres. Features include a Clive Christian kitchen, ultra high end insulated windows, large gym and Spa, a garage for 12 cars and much more!

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Beds Baths: Total Built: Plot: Price:

7 7+1 1,960 m2 4,000 m2 € 13,000,000

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GOLDEN MILE: Sierra Blanca | Ref: 14902 | Map: p235, Nº13

Elegant, south-facing villa with sea and mountain views Step inside this villa and you’ll be captivated by its charm and laid-back ambience, exuding a sense of calm with its neutral tones and natural materials. The open-plan design allows for a seamless flow between indoor and outdoor spaces. Luxury amenities include: indoor pool, gym, outdoor living areas, a sleek modern kitchen and much more.

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Beds Baths: Total Built: Plot: Price:

6 6+2 910 m2 1,513 m2 € 14,500,000

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GOLDEN MILE: Villa Parra - Palomeras | Ref: 14523 | Map: p235, Nº69

Avant-garde villa, walking distance to the beach Offering spacious and elegant interiors, this impressive home is finished to top specifications. Features include two private swimming pools, lush garden, cinema room, bar with reception area and a garage for eight cars. Set in a central location with easy access, walking distance from the beach and Puente Romano Marbella.

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Beds Baths: Total Built: Plot: Price:

5 5+1 1,157 m2 1,602 m2 € 11,300,000

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GOLDEN MILE: Nagüeles | Ref: 14348 | Map: p235, Nº16

Stunning, renovated villa with private tennis court Set on a generous, flat plot the villa impresses from the moment you arrive. The architecture is clean and contemporary, yet softened by the use of natural materials like wood and stone. Private wellness area with gym, Pilates machine, sauna and cold plunge pool. Entertainment spaces include a cinema room, games area and outdoor fire lounge.

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Beds Baths: Total Built: Plot: Price:

6 6+1 1,340 m2 2,370 m2 € 8,950,000

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GOLDEN MILE: Sierra Blanca | Ref: 15641 | Map: p235, Nº13

Exceptional, classical-style villa with panoramic sea views This stunning villa has sweeping panoramic views of the Mediterranean Sea, lush greenery, and the majestic La Concha mountain. Designed for year-round living, it features state-of-the-art insulation, underfloor heating throughout, air conditioning, and highly efficient systems including solar panels for both water heating and electricity.

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Beds Baths: Total Built: Plot: Price:

6 6+1 975 m2 1,867 m2 € 10,450,000

GOLDEN MILE: Vilas 12 | Ref: 15273 | Map: p235, Nº69

Impressive, modern residence in a gated community Designed by one of the region’s top architects and exquisitely furnished by renowned interior designer Pedro Peña, this west-facing villa offers an elevated living experience in one of the most soughtafter locations on the Costa del Sol. With its seamless blend of modern design, functionality, and comfort, it’s a truly extraordinary home.

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4 4+1 693 m2 315 m2 € 7,500,000

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PUENTE ROMANO: de Puente Romano 15068 Map: p210, Nº36 GOLDEN MILE: RocíoTerrazas de Nagüeles | Ref: 15926 | | Ref: Map: p235, |Nº16

Contemporary elegance on Marbella’s Golden Mile Set on a generous south-facing plot at the foot of the iconic La Concha mountain, the villa enjoys panoramic views across the Mediterranean, combining natural beauty with modern sophistication.

Fully modernised in 2025, the property spans 734 m² of thoughtfully designed interiors where light, space, and style blend seamlessly.

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Beds Baths: Total Built: Plot: Price:

5 5+3 1,226 m2 2,000 m2 € 7,800,000

GOLDEN MILE: Las Lomas del Marbella Club | Ref: 15756 | Map: p236, Nº25

New villa close to Puente Romano One of only three villas in this boutique development, and distributed over four spacious levels. This exceptional contemporary home is just a two minute drive to the beach and Puente Romano.

Built to the highest specifications the estimated completion date is November 2026.

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5 5+2 1,052 m2 1,191 m2 € 6,690,000

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GOLDEN MILE: Lomas del Marbella Club | Ref: 14846 | Map: p235, Nº25

Villa with guest house on an extensive plot A unique opportunity to own a villa with a guest house close to Puente Romano, spanning over a 4,000 m² plot. It offers unparalleled privacy and luxury, surrounded by a lush garden featuring a serene pool and a jacuzzi. Perfectly oriented to the south, it is the ideal retreat for those seeking tranquility and elegance. Walking distance to the beach.

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Beds Baths: Total Built: Plot: Price:

14 14 + 2 657 m2 4,108 m2 € 6,750,000

Real food for Real People

9am to 6pm, 7 days a week - Opposite the Marbella Club Hotel Tel: (+34) 667 614 384 www.panorama.es · organicmarketfood.com (+34) 952 822 1 1 1 info@panorama.es

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PUENTE ROMANO: Terrazas de Puente | Ref:| 15068 | Map: p210, Nº36 GOLDEN MILE: Lomas del Marbella ClubRomano | Ref: 12205 Map: p235, Nº25

Modern and elegant villa on an elevated plot Close to Puente Romano this villa boasts a modern design, incorporating energy-efficient systems and avant-garde architecture, creating a home that is both luxurious and sustainable. Built on an elevated plot, it offers breathtaking views and is surrounded by a beautifully landscaped garden with lush lawns.

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Beds Baths: Total Built: Plot: Price:

6 6+1 958 m2 1,441 m2 € 6,400,000

GOLDEN MILE: Casablanca | Ref: 13848 | Map: p236, Nº3

Superb beachside villa, centrally located Located in a small and exclusive beachside community, offering privacy and tranquillity. Modernist architectural edges of glass and concrete is complemented by the addition of wooden facades and botanical bricks. This eye-catching exterior is perfectly balanced by the interiors, which offer designer living.

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5 6+1 551 m2 503 m2 € 4,995,000

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PUENTE ROMANO: Romano | Ref: 15068 GOLDEN MILE: EPICTerrazas Marbellade| Puente Ref: 15805 | Map: p235, Nº56| Map: p210, Nº36

Duplex ground floor designer flat in EPIC Located in Phase I of the prestigious EPIC development in collaboration with Italian brand Fendi. Access to 5-star services: social club, gym, spa, children’s club, coworking spaces, and more. Partially covered terrace with outdoor kitchen and pool views. Home automation system, underfloor heating, electric vehicle charging, and optional designer furniture.

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Beds Baths: Total Built: Price:

4 4+1 374 m2 € 4,390,000

GOLDEN MILE: La Trinidad | Ref: 15297 | Map: p235, Nº54

Exceptional duplex penthouse with amazing views Positioned in the finest block of this exclusive community on the Golden Mile. The penthouse is southwest-facing and stands as the largest of its type, making it a rare opportunity for refined coastal living. La Trinidad is designed to provide residents with a true 5-star, resort-style experience with two outdoor pools, an indoor heated pool, gym and two saunas.

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3 3+1 270 m2 66 m2 € 4,250,000

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PUENTE ROMANO: Terrazas| de Puente Ref: 15068 | Nº58 Map: p210, Nº36 GOLDEN MILE: El Higueral Ref: 15708Romano | Map:| p235, opposite

Family villa close to Marbella town Located on an exceptionally large plot with beautiful sea views, walking distance to Marbella town. An elegant home offering complete privacy, generous living spaces, including two lounge areas, a formal dining room, and a games/TV room. Surrounded by a mature garden.

Possibilty to build another villa if desired.

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Beds Baths: Total Built: Plot: Price:

4 4+1 431 m2 3,350 m2 € 4,200,000

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PUENTE ROMANO: de Puente Romano Ref: 15068 | Map: p210, Nº36 GOLDEN MILE: RocíoTerrazas de Nagüeles | Ref: 13789 | Map: p235, Nº16

Very private, contemporary villa with sea and mountain views Nestled in this well-established community adjacent to Sierra Blanca and enjoying a prime central location. The villa’s elevated position gives breathtaking views of both the sea and the mountains. This architecturally stunning home spans two spacious floors, designed with a keen eye for modern elegance and comfort.

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Beds Baths: Total Built: Plot: Price:

5 5+1 604 m2 1,533 m2 € 4,490,000

GOLDEN MILE: El Higueral | Ref: 15837 | Map: p235, opposite Nº58

Exceptional villa close to town with sea views Nestled in a peaceful and central area close to Marbella town, just 1.5 kilometers from the beach and promenade. Offering a rare combination of generous indoor spaces, tranquil gardens, and unbeatable access to all of Marbella’s lifestyle amenities, this home is ideal for comfortable year-round living or as a luxurious holiday retreat.

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5 5+1 458 m2 1,690 m2 € 4,150,000

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153

PUENTE ROMANO: Terrazas PuenteClub Romano | 14672 Ref: 15068 | Map: GOLDEN MILE: Monte Paraísode Country | Ref: | Map: p235,p210, Nº52Nº36

Magnificent, duplex penthouse in a 5-star complex This impressive south-facing duplex penthouse with four en-suite bedrooms boasts spacious and bright living areas, a large fireplace in the living room, a spacious terrace with a fitted Argentinian-styled BBQ, a master bedroom with open views to the sea and a stunning bodega connected to the kitchen. Located in a prestigious gated community with 24-hour security.

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Beds Baths: Built: Terraces: Price:

4 4+1 377 m2 191 m2 € 3,695,000

GOLDEN MILE: Marbellamar | Ref: 15841 | Map: p235, east of Nº33

Modern townhouse just steps from the beach Centrally located in a prestigious community with La Concha mountain as a scenic backdrop, and proximity to key amenities. The interior of the home is bright and welcoming, designed with a soft, neutral palette. Clean lines, warm wood finishes, and ambient LED lighting throughout create a modern yet comfortable living environment.

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4 4 192 m2 99 m2 € 2,895,000

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155

GOLDEN MILE: Marbella town | Ref: 15900 | Map: p235, Nº28-29

Luxurious, second-line beach apartment With an interior area of 229 m² and over 100 m² of terrace, this apartment offers a generous living space that is hard to find in central properties.

The covered, wrap-around terrace occupies the entire corner of the building, allowing one to enjoy magnificent views of the majestic La Concha mountain and partial sea views.

156

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Beds Baths: Built: Terraces: Price:

4 3 229 m2 103 m2 € 2,975,000

GOLDEN MILE: Altos de Salamanca | Ref: 15738 | Map: p235, north of Nº19

Perfectly located, semi-detached villa close to Puente Romano This tranquil residential area combines privacy, security, and stunning views of the iconic La Concha mountain. Spread over four intelligently designed levels, the property has been completely refurbished to offer a functional and luxurious lifestyle. It features five spacious bedrooms iincluding two master suites with walk-in closets and private terraces.

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5 5 266 m2 127 m2 € 2,695,000

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157

PUENTE ROMANO: Terrazas Romano | Ref: 15068 GOLDEN MILE: Lomas Pueblode| Puente Ref: 15668 | Map: p236, Nº63| Map: p210, Nº36

One of the largest houses in Lomas Pueblo This is a rare opportunity to own a large, turn-key home in one of Marbella’s most established communities. The combination of traditional charm, modern interiors, outdoor space, and a prime location near Puente Romano makes this property ideal for families, second-home buyers, or investors looking for strong rental potential.

158

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Beds Baths: Built: Terraces: Price:

4 4 327 m2 112 m2 € 2,490,000

GOLDEN MILE: La Capellania | Ref: 15635 | Map: p235, p , NºNº22

Elegant villa with timeless charm and modern comforts Lovely family home with traditional exterior and modern interior. Generous built area plus large sunny terraces, this property boasts sea views from every level. Its south-facing orientation floods the home with natural light throughout the day. Private garage for 5–6 cars and an internal lift connecting all floors. Situated in a secure and well-maintained community.

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6 6+1 498 m2 66 m2 € 2,420,000

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159

PUENTE ROMANO: Terrazas Romano | Ref: 15068 GOLDEN MILE: Mansion Clubde| Puente Ref: 15661 | Map: p235, Nº48| Map: p210, Nº36

Impeccable penthouse in the prestigious Mansion Club One of the most distinguished residences within the prestigious Mansion Club, completely renovated in 2023. Panoramic views of the sea, Gibraltar and Puerto Banús from almost every room. Access to outdoor pools, indoor heated pool, gym, sauna, hammam, and set in one of the best blocks of this elegant community offering 24-hour security.

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Beds Baths: Total Built: Plot: Price:

2 2 157 m2 57 m2 € 2,095,000

Specialists in German Kitchens

(+34) 951 446 303 (+34) 951 504 684

Ricardo Soriano, 66 (MARBELLA) Avda. Mijas, 21 (MIJAS COSTA)

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161

Nueva Andalucía is divided into two basic areas: the eastern section – Las Brisas del Golf and other areas of higher quality villas and some apartments – and the western section which has less expensive homes, small villas and townhouses stretching down to the main road.

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PROPERTIES IN

Nueva Andalucía & Puerto Banús

Nueva Andalucía is divided into two basic areas: the eastern section, comprising the area of Las Brisas del Golf and other sectors of higher quality villas and some areas of apartments, and the western section which is separated from Las Brisas del Golf by a very high ridge and comprises less expensive properties, small villas and townhouses stretching down to the main road. The eastern section includes the famous Las Brisas Golf Course, a Robert Trent Jones championship course inaugurated in 1968, along with a beautiful golf club and hotel, and the Los Naranjos Golf Course also designed by Trent Jones, and inaugurated in 1977.

To the east of Nueva Andalucía is the urbanization Aloha Golf, with yet another excellent golf course, club and restaurant. To the west is the La Quinta Golf course, comprising three 9-hole courses, a

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hotel and high quality villas and town houses, all created by the incredibly successful property developer and hotel owner, Ricardo Arranz.

Puerto Banús. José Banús came from a family of builders and had achieved great success in building low income properties in Madrid and other cities in Spain. His project in Marbella was called “crazy” and “stupid” when he announced his plans, however his vision proved absolutely spot on, with incredible success achieved in the 70’s and the worldwide acclaim for the imagination in the design and architecture of Puerto Banús.

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163

NUEVA ANDALUCÍA: Supermanzana D | Ref: 15671 | Map: p236, Nº28

Impressive, modern villa with first-class amenities From the moment you arrive, the villa impresses with its striking white façade, beautifully landscaped gardens, and inviting driveway. Inside, the open-plan layout and high ceilings allows natural light to flood the rooms.

Stunning outdoor spaces with firepit lounge and al fresco dining areas.

Luxury amenities include a cinema, bodega, gym and Spa.

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Beds Baths: Total Built: Plot: Price:

5 6+2 722 m2 1,959 m2 € 8,595,000

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165

NUEVA ANDALUCÍA: Las Brisas | Ref: 15215 | Map: p236, Nº28

Luxurious, modern villa, frontline golf Newly-built and offering a luxurious living experience, this home was designed by a renowned architect and developed by a top-tier developer.

It has impeccable standards and attention to detail. The lower floor houses a gym, sauna, steam room, bar, cinema and second living room.

Impressive outdoor spaces include a firepit area and outdoor kitchen.

166

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Beds Baths: Total Built: Plot: Price:

5 6 710 m2 1,454 m2 € 7,495,000

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167

PUENTEANDALUCÍA: ROMANO: Terrazas de Puente | Ref:|15068 | Map: p210, Nº36 NUEVA Supermanzana H Romano | Ref: 13734 Map: p236 , Nº28

Beautifully designed, frontline golf villa Recently renovated and offering wide open views over the famous Los Naranjos Golf Course. Set in a family friendly neighbourhood and featuring large floor-to-ceiling windows and plenty of open terrace space. The lower level has a Spa with Hammam, sauna, massage room and entertainment room with bar. All details, materials and finishes are top quality.

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Beds Baths: Total Built: Plot: Price:

7 7+1 650 m2 1,824 m2 € 6,450,000

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169

PUENTEANDALUCÍA: ROMANO: Terrazas deConde Puente Romano | Ref:| 15068 | Map: p210, NUEVA Haza del | Ref: 13576 Map: p236, near Nº27Nº36

Frontline golf, designer villa Sleek open plan design which merges kitchen, dining and living spaces.

Floor-to-ceiling glass doors provide amazing views over Los Naranjos.

The rooftop terrace boasts an outdoor kitchen, cinema, dining, and a second pool. Basement features a gym and fully equipped home office.

Includes a buggy garage with direct access to the golf course.

170

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Beds Baths: Total Built: Plot: Price:

4 5+1 685 m2 960 m2 € 5,975,000

NUEVA ANDALUCÍA: Atalaya de Río Verde | Ref: 15196 | Map: p236, north of Nº20

Semi-detached villa with an amazing rooftop and plunge pool Offering a total of 376 m² enclosed plus 230 m² of terraces that allow for seamless indoor-outdoor living across all levels. Distributed over four floors, each connected by a private internal staircase. Within a quiet, gated community and surrounded by beautifully landscaped communal gardens, walking distance to Puerto Banús.

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4 5 606 m2 230 m2 € 5,500,000

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171

PUENTE ROMANO: Terrazas de Puente Romano | Ref:p236, 15068 | of Map: p210, Nº36 PUERTO BANÚS: Gray D’Albion | Ref: 14369 | Map: west Nº21

Outstanding, modern beachfront apartment Enjoying unparalleled sea views and exquisitely finished, having been renovated to the highest specifications. The location is second to none: frontline beach in the heart of Puerto Banús. Gray D’Albion is known for its impressive Arabic-style architecture, secluded mature gardens with pools, fountains and water features.

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Beds Baths: Built: Terraces: Price:

4 4+1 280 m2 37 m2 € 4,950,000

NUEVA ANDALUCÍA: Haza del Conde | Ref: 15723 | Map: p236, Nº27

Modern, single-level villa next to Los Naranjos Golf This exquisite four-bedroom home is set on an elevated plot, and offers privacy, tranquility, and beautiful views over the Golf Valley to the Mediterranean Sea. Special features include a rooftop solarium with lovely views and a saltwater swimming pool. This home is fully renovated and move-in ready.

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4 4+1 387 m2 855 m2 € 4,350,000

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173

PUERTO BANÚS: El Embrujo Banús | Ref: 13178 | Map: p236, Nº23

Beachside duplex penthouse with sea views and a plunge pool Set in this complex of high-end apartments, with beautiful tropical gardens, two swimming pools, gym, sauna, Spa and 24-hour security.

Completely renovated with the best quality materials and super luxury details. Just steps to the beach and promenade and walking distance to Puerto Banús.

174

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Beds Baths: Built: Terraces: Price:

4 4+1 342 m2 290 m2 € 4,295,000

NUEVA ANDALUCÍA: Aloha Golf | Ref: 11789 | Map: p236, Nº26

Elegant villa with golf and mountain views Offering beautiful panoramic views of the surrounding golf course, mountains, and partial sea views. Located in the heart of the Golf Valley, the villa is southwest facing and filled with natural light. Set on a generous plot and built across three levels, features include a heated saltwater pool, gazebo with barbecue area, private lift and garage for four cars.

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4 4+1 619 m2 1,636 m2 € 3,695,000

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175

PUENTE ROMANO: Terrazas de Puente Romano | Ref: 15068 | Map: p210, Nº36 NUEVA ANDALUCÍA: Las Brisas | Ref: 15069 | Map: p226, Nº36

Villa on an elevated plot in Las Brisas with stunning views Located second line to Las Brisas Golf Course within the heart of the Golf Valley, offering unparalleled comfort and breathtaking views towards La Concha and the golf course. Special features include an enormous rooftop solarium with stunning views, a beautiful garden lounge with air conditioning and a state-of-the-art security system.

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Beds Baths: Total Built: Plot: Price:

7 7+1 754 m2 1,590 m2 € 3,650,000

PUERTO BANÚS: Ventura del Mar | Ref: 12133 | Map: p236, Nº22

Corner, duplex penthouse close to Puerto Banús Designed by the renowned architect Melvin Villaroel and situated in one of the most sought-after beachfront communities. Spacious terraces on both levels which are partially glazed, with the upper-level terrace featuring an outdoor kitchen. Just a short walk from both Puerto Banús and San Pedro, Ventura del Mar is a secure gated community with direct beach access.

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4 4 213 m2 196 m2 € 3,150,000

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177

PUENTE ROMANO: Terrazas de Puente | Ref:Nº25 15068 | Map: p210, Nº36 PUERTO BANÚS: Malibu | Ref: 15136 Romano | Map: p236,

Stunning garden apartment in a beachfront complex Set within the prestigious Malibu community, this exquisite ground floor apartment offers luxury and comfort. With a perfect southerly orientation, it is bathed in sunshine throughout the day. Boasting two spacious bedrooms, it offers ample space for relaxation and privacy. Magnificent terrace with wonderful views and a charming private garden.

178

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Beds Baths: Built: Terraces: Price:

2 2+1 149 m2 50 m2 € 1,800,000

The Red Pepper Restaurant has the highest quality food, a great atmosphere and the best service, all at very resonable prices.

Christopher Clover

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179

San Pedro de Alcántara is situated in a broad stretch of coastal lowland surrounded by rugged hills. Guadalmina is a beachside community that stradles the A7/N340 road and lies just west of San Pedro. Casasola is connected to Guadalmina by a bridge and has a recently installed infrastructure with many new homes built over the last 15 years.

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PROPERTIES IN

San Pedro, Guadalmina & Casasola

San Pedro de Alcántara is situated in the fertile plain of the same name, Vega de San Pedro Alcántara, a broad stretch of coastal lowland surrounded by rugged hills. It’s just 10 kilometres west of Marbella, a few minutes drive away from the Sierra de Ronda mountain range and 20 km from Estepona. An ancient farming community, once famous for sugar cane, today San Pedro is a refreshingly unspoilt pueblo. Historical attractions include the 3rd Century Roman Baths and the Paleochristian Basilica Church. With a long, sandy beach and exquisite restaurants, locals can enjoy a long walk on the promenade followed by a delicious meal out. Another popular location is Plaza de la Iglesia with its gracious parish church and surrounding narrow streets which are packed

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with intriguing shops, sidewalk cafés and bars.

Guadalmina, a mature urbanisation mostly developed between 1960 and 1990, is located just west of San Pedro and is essentially a beachside community that stradles the A7/N340 road, dividing it into Guadalmina Alta and Guadalmina Baja. Some of the areas most prestigious villas are found here.

Its west boundary runs along the Guadalmina River which is also the Marbella / Estepona boundary.

Casasola is connected to Guadalmina by a bridge and has a recently installed infrastructure with many new homes built over the last 15 years.

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181

SAN PEDRO: Guadalmina Alta | Ref: 12549 | Map: p236, Nº36

Modern mansion on an extensive plot An immaculate villa, next to Guadalmina Alta and a short drive to the beach.

The extensive plot gives the property a lot of privacy with part of the plot being rustic land. Features include a stunning kitchen with informal dining room, cinema room, gym, Spa with sauna and staff quarters. Built with top quality materials and interior design by Ambience Home Design.

182

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Beds Baths: Total Built: Plot: Price:

6 5+2 1,553 m2 23,130 m2 € 8,500,000

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183

PUENTE ROMANO: Terrazas de| Puente Romano | Ref: 15068 | Map: p210, Nº36 SAN PEDRO: Guadalmina Baja Ref: 13904 | Map: p236, Nº35

Elegant beachside mansion in excellent condition Only a few steps from the beach in the peaceful and private community of Guadalmina Baja, close to schools, shops, golf courses and restaurants.

Features of this magnificent home include: private lift, gym, spa with sauna, Jacuzzi, Turkish bath and ice fountain, cinema, wine cellar, billiard room, separate staff quarters and a six-car garage.

184

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Beds Baths: Total Built: Plot: Price:

8 8+2 2,007 m2 4,932 m2 € 9,700,000

ESTEPONA EAST: Casasola | Ref: 15527 | Map: p236, Nº38

Elegant luxury villa by the sea, next to Guadalmina Baja Spectacular, newly-built villa situated in one of the most coveted areas of the Costa del Sol, enjoying unbeatable privacy while also being conveniently close to all kinds of services. Spectacular gardens, terrace, and solarium with views of the sea, golf course, and La Concha mountain.

24-hour security, video surveillance and maximum privacy.

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7 7+2 1,050 m2 2,043 m2 € 5,190,000

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185

PUENTE ROMANO: Terrazas Romano | Ref: 15068 SAN PEDRO: Guadalmina Altade| Puente Ref: 15822 | Map: p236, Nº36| Map: p210, Nº36

Elegant, Ibiza-style villa frontline golf Spectacular villa completely renovated in 2023, blending Mediterranean elegance with contemporary comfort. Distributed on a single floor and west-facing, it guarantees sunlight for most of the day. Enjoy stunning sunsets from its spacious terrace with pool and outdoor kitchen. Direct access to the golf course. Furniture included, and ready to move in to.

186

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Beds Baths: Total Built: Plot: Price:

4 4+1 449 m2 1,169 m2 € 3,650,000

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187

The Benahavís municipality has some of Europe’s finest residential addresses such as La Zagaleta, El Madroñal, La Quinta, the Marbella Club Golf Resort, Los Flamingos, Monte Mayor, Real de La Quinta, Los Arqueros and many others. The village of Benahavís is situated on the south face of the Serranía de Ronda, just seven kilometres from the sea.

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PROPERTIES IN

Benahavís, La Zagaleta & La Quinta

The Benahavís municipality is 145 km2 and encompasses some of Europe’s finest residential addresses such as La Zagaleta, El Madroñal, La Quinta, the Marbella Club Golf Resort, Los Flamingos, Monte Mayor, Real de La Quinta, Los Arqueros and Reserva de Alcuzcuz and many others. Situated on the south face of the Serranía de Ronda, just seven kilometres from the sea, the village of Benahavís is one of the western Costa del Sol’s most mountainous villages renowned for its gourmet restaurants with some calling it the “dining room of the Costa del Sol”. With 12 of the coasts 70 golf courses, it is also a hotspot for golf lovers.

La Quinta lies within the Benahavís municipality on the border between Nueva Andalucía and the open countryside. It has a distinct country club feel and

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is a very popular venue for both holiday homes and yearround living.

La Zagaleta is the most prestigious and exclusive residential country club in Europe.

Set within a 900-hectare former hunting estate, it has two private golf courses and an Equestrian centre. Given it’s elevated position, the homes in La Zagaleta offer the most spectacular views to the immediate countryside and the Mediterranean sea. In addition, residents can enjoy premium services that elevate their quality of life in this select community.

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189

BENAHAVÍS: La Quinta Golf | Ref: 13615 | Map: p237, Nº29

Luxury, brand-new villa next to the Hotel La Quinta Located on an elevated plot very close to La Quinta Golf and just a few minutes drive from Puerto Banús, this villa has been built with top quality materials. This very private home enjoys beautiful open views to the sea and golf, is south-facing and has a garden with a 20-metre infinity pool. Spa with indoor heated pool, cold pool, sauna, hammam and massage room.

190

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Beds Baths: Total Built: Plot: Price:

7 7 1,605 m2 3,197 m2 € 14,500,000

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191

BENAHAVÍS: El Madroñal | Ref: 15657 | Map: p236, Nº31

Modern, architectural masterpiece The villa features an open-plan layout connecting the spacious living and dining areas to a state-of-the-art Gaggenau kitchen, fully equipped with the latest appliances. Soaring ceilings and floor-to-ceiling windows flood the interior with natural light, creating a bright and airy ambience while framing picturesque views of the coastline and surrounding mountains.

192

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Beds Baths: Total Built: Plot: Price:

8 8 1,445 m2 5,100 m2 € 11,500,000

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193

BENAHAVÍS: La Zagaleta | Ref: 15610 | Map: p237, Nº32

Elegant Mediterranean villa with panoramic sea views The villa’s architecture reflects classic Mediterranean and French Provençal styles, featuring a façade adorned with natural materials and traditional tiles. The stunning surrounding gardens and carefully designed landscapes create a serene and picturesque environment, complemented by a stunning natural-style pool and numerous relaxation areas.

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Beds Baths: Total Built: Plot: Price:

5 5+2 1,375 m2 9,544 m2 € 10,900,000

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195

PUENTE ROMANO: Terrazas de Puente | Ref: 15068 | Map: BENAHAVÍS: La Reserva de Alcuzcuz | Romano Ref: 15349 | Map: p236, Nº30p210, Nº36

Contemporary, luxury villa with panoramic sea views This home perfectly blends eco-consciousness, luxury, and privacy, offering unparalleled living spaces with stunning views of the Los Arqueros golf course, surrounding green hills, and the Mediterranean coastline. The subtropical gardens have a 12 x 6 metre heated swimming pool and a glazed pavillion with a full kitchen for al fresco dining.

196

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Beds Baths: Total Built: Plot: Price:

9 9+2 1,281 m2 3,560 m2 € 9,900,000

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197

PUENTE ROMANO: Terrazas Puente Ref: Nº32 15068 | Map: p210, Nº36 BENAHAVÍS: La Zagaleta | de Ref: 15047Romano | Map: |p236,

Extraordinary, frontline golf villa in La Zagaleta Situated close to the north gate and offering a combination of luxurious living spaces and stunning views from every angle of the property.

Features include an expansive basement with sauna, gym, wine cellar with bar, and large games room. The outdoor areas of the villa feature a lush garden with beautiful pool and gazebo.

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Beds: Baths: Total Built: Plot: Price:

7 7+1 1,308 m2 4,524 m2 € 8,950,000

BENAHAVÍS: Real de la Quinta | Ref: 12114 | Map: p226, Nº29

Spectacular sustainable villa overlooking Marbella Villa Sienna lies within a luxury development of 18 sustainable villas and has uninterrupted sea views to Gibraltar and Africa beyond.

Just 15 minutes from the beach and the Golden Mile. Private, gated community within Real de La Quinta (also gated). Multi-use basement that can be customised to requirements.

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4 5 785 m2 1,832 m2 € 8,500,000

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199

BENAHAVÍS: El Madroñal | Ref: 13185 | Map: p236, Nº31

Spectacular estate with panoramic views in El Madroñal Situated a short distance from the main security gate, this magnificent estate is set against the serene backdrop of pine and oak trees, which line the private and grand entrance. The interior boasts standout features like soaring wood-beamed ceilings, an expansive living room, and one of the largest master bedroom suites available on the market.

200

(+34) 952 822 1 1 1

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Beds Baths: Total Built: Plot: Price:

6 6+2 858 m2 5,438 m2 € 7,800,000

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201

PUENTE ROMANO: Romano | Ref: 15068 BENAHAVÍS: Monte Terrazas Halconesde| Puente Ref: 15744 | Map: p236, Nº30| Map: p210, Nº36

Modern, stylish villa close to Los Arqueros Golf Built across three levels, the villa is located in the prestigious Monte Halcones urbanisation. At the heart of the home is a striking central atrium known as the Andaluz Patio, topped with a retractable glass roof that opens at the push of a button. Golf lovers will appreciate its close proximity to La Quinta and Los Arqueros golf courses.

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(+34) 952 822 1 1 1

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Beds Baths: Total Built: Plot: Price:

5 7 478 m2 1,103 m2 € 4,900,000

BENAHAVÍS: Fuente del Espanto | Ref: 15648 | Map: p236, Nº31

Luxury self-sustainable villa in Fuente del Espanto Set on a generous plot with a coveted south-facing orientation, the villa offers breathtaking panoramic views from every level. Features include: Balinese-style chill-out area with pond, vegetable garden, fruit trees, serene saltwater pool, 43 solar panels, aerothermal system, 70,000-litre water tank and an energy efficiency rating of “A”.

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Beds Baths: Total Built: Plot: Price:

info@panorama.es

5 5+2 543 m2 2,116 m2 € 3,950,000

(+34) 952 822 1 1 1

203

PUENTE ROMANO: de Puente Romano Ref: 15068 | Map: BENAHAVÍS: FuenteTerrazas del Espanto | Ref: 15713 || Map: p236, near Nº31p210, Nº36

Charming, classsical villa in a peaceful residential area Just 5 kilometers from the beach this villa offers an ideal balance between privacy and convenience. It is close to a wide range of shops, restaurants, and professional services, while enjoying the tranquility of a countryside setting. Set on a generous plot with sea views from the garden level.

Potential to build more houses on the plot or to renovate the existing villa.

204

(+34) 952 822 1 1 1

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Beds Baths: Total Built: Plot: Price:

4 4+1 577 m2 5,227 m2 € 3,900,000

BENAHAVÍS: El Madroñal | Ref: 12772 | Map: p236, Nº31

Large, corner villa with magnificent views Within a gated community offering 24-hour security, this Spanish-style villa offers unparalleled luxury against a backdrop of breathtaking natural beauty.

Grand entrance and sweeping driveway bordered by manicured gardens.

Spacious living room with cosy fireplace, formal dining room and gourmet kitchen equipped with state-of-the-art appliances. In need of renovation.

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Beds Baths: Total Built: Plot: Price:

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7 7+2 1,269 m2 5,000 m2 € 3,850,000

(+34) 952 822 1 1 1

205

The New Golden Mile starts at the Río Guadalmina just west of San Pedro de Alcántara, and stretches all the way to Estepona. The term ‘New Golden Mile’ was born during the property boom in the early 2000’s and is commonly used on the coast even though it’s not really an official name.

206

(+34) 952 822 1 1 1

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PROPERTIES ON THE

New Golden Mile

The New Golden Mile starts at the Río Guadalmina just west of San Pedro de Alcántara, and stretches all the way to Estepona. The term ‘New Golden Mile’ was born during the property boom in the early 2000’s and is commonly used on the coast even though it’s not really an official name.

The area has now become one of the coveted hot spots of the Costa del Sol’s property market with a huge variety of desirable homes in all price ranges, and an amazing number of development projects underway due to the greater availability of land than in the Marbella area. The area is comprised of many elegant, sought-after urbanisations, including Atalaya Park, Benamara, El Paraíso, Paraíso Alto,

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Costalita, Torre Bermeja, Selwo, Alcazaba Beach, and many others, as well as exclusive villas, apartments, townhouses and hotels. Big name group hotels like Ikos and The Mett have recently opened here. The majority of the beachfront urbanisations, including Velaya on the east of Estepona and The Edge on the west, offer 24-hour security, pools, sea views, tropical gardens, direct access to the beach and are walking distance to amenities and restaurants.

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(+34) (+34)952 952863 822750 111

207

ESTEPONA: Paraíso Barroñal | Ref: 09283 | Map: p236, west of Nº38

Stunning, second-line beach villa with park-like garden Located in the exclusive El Paraíso Barronal, this palatial property is just a 10-minute drive from Puerto Banús. It has a separate guest house and a caretaker’s house with two bedrooms. In the impressive grounds, an African lodge and designer barbecue house provide unique outdoor escapes. The property includes a full-size, all-season tennis court.

208

(+34) 952 822 1 1 1

info@panorama.es

www.panorama.es

Beds Baths: Total Built: Plot: Price:

10 9+1 1,070 m2 7,416 m2 € 13,500,000

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info@panorama.es

(+34) 952 822 1 1 1

209

PUENTE ROMANO: Terrazas Romano | Ref: 15068 | Map: ESTEPONA: Hacienda Beach de | Puente Ref: 15674 | Map: p236, west of Nº40 p210, Nº36

Frontline beach villa on an extensive plot Occupying a sprawling, fully private 5,000 square-metre beachfront plot, this estate has direct access from the garden straight onto the beach and the scenic promenade, a feature few properties along the coast can claim.

Nearly every room offers panoramic sea views, elevating its appeal as a high-end residence, or luxury rental.

210

(+34) 952 822 1 1 1

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Beds Baths: Total Built: Plot: Price:

8 10 1,013 m2 5,000 m2 €6,800,000

ESTEPONA: El Castor | Ref: 12212 | Map: p236, west of Nº41

Outstanding mansion on an extensive plot with private tennis court South-facing mansion with spectacular sea views from all levels. Set on nearly two hectares of land, it is a true oasis with its own tennis court and fruit trees. Extensive beautiful Bermuda grass garden with a saltwater pool and outdoor entertaining areas that make this property a rare gem.

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Beds Baths: Total Built: Plot: Price:

info@panorama.es

5 4+2 520 m2 19,246 m2 € 4,200,000

(+34) 952 822 1 1 1

211

PUENTE ROMANO: de Puente Romano | Ref:of15068 ESTEPONA: Bel Air Terrazas | Ref: 15787 | Map: p236, west Nº41 | Map: p210, Nº36

New construction of villas, walking distance to amenities An exceptional opportunity to own one of just 15 exclusive villas in the sought-after, prestigious Bel Air neighbourhood of Estepona. Spanning two spacious floors, with the option to incorporate a basement and a rooftop solarium. Designer kitchens with Miele appliances and open-plan layouts. Private parking for two cars with EV charging station.

212

(+34) 952 822 1 1 1

info@panorama.es

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Beds Baths: Total Built: Plot: Price:

4 4+1 606 m2 986 m2 € 2,890,000

ESTEPONA: Menara Beach | Ref: 15534 | Map: p236, Nº41

Beachfront, garden apartment with resort services Fully renovated, with a modern open-plan layout and Bang & Olufsen sound system, high-end kitchen with island and Siemens appliances.

Spacious terrace with panoramic sea views and direct access to gardens.

Stylish, custom-designed furniture included in the price. Underground parking and private storage room also included.

Regulated by RICS

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Beds Baths: Built: Terraces: Price:

info@panorama.es

3 2 130 m2 42 m2 € 2,350,000

(+34) 952 822 1 1 1

213

Marbella East has some of Marbella’s most beautiful beaches, including the Las Dunas de Artola, declared a Natural Monument in 2001, first-class golf courses and green zones covered by pine trees and cork oaks. You can find luxurious villas, modern apartments and typical Andalusian homes, including fincas and country houses.

214

(+34) 952 822 1 1 1

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PROPERTIES IN

Marbella East

Marbella East started to be developed in the midsixties and has some of Marbella’s most beautiful beaches, including the Las Dunas de Artola, 1,200 metres of protected natural beach area in Cabopino, declared a Natural Monument in 2001, first-class golf courses and green zones covered by pine trees and cork oaks. This residential, mostly family, area offers stunning communities such as the Río Real golf development, La Reserva de Los Monteros, Los Altos de Los Monteros, Bahía de Marbella, Los Monteros, Costabella, El Rosario, Elviria, Las Chapas, Hacienda Las Chapas, Marbesa, the natural reserve of La Mairena, and many more, up-to and including Cabopino and its pretty little sporting marina. Along the coastline we find some of the most trendy beach clubs such as Nikki Beach, La

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Cabane and Trocadero Arena among others.

The area also boasts international schools, tennis & leisure clubs, clinics, vets and many of the finest restaurants, cafés and shops. Marbella East is also ideal for golf lovers with four 18-hole golf courses and three 9-hole golf courses on a stretch of 10 kilometres.

Marbella East has something to suit most tastes and budgets. You can find luxurious and opulent villas, modern apartments and typical Andalusian homes, including fincas and country houses.

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(+34) (+34)952 952863 822750 111

215

MARBELLA EAST: Real de Zaragoza | Ref: 13564 | Map: p237, near Nº44

Modern villa just steps from the beach An exquisite villa built at the end of 2021, ideally situated just a short walk from the sea in the prestigious Hacienda Las Chapas, Marbella East. This modern property combines luxury, functionality, and cuttingedge design, making it a perfect choice for year-round living or a lucrative investment for short-term rentals.

216

(+34) 952 822 1 1 1

info@panorama.es

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Beds Baths: Total Built: Plot: Price:

5 5+1 742 m2 1,353 m2 € 5,295,000

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info@panorama.es

(+34) 952 822 1 1 1

217

MARBELLA EAST: Los Monteros | Ref: 15378 | Map: p237, Nº42

Exclusive, luxury villa only a few steps from the best beaches Located in the prestigious area of Los Monteros, this newly-built luxury villa offers an unparalleled living experience in one of the most exclusive areas of the Costa del Sol. A modern and elegant architectural design created by two of the best architectural studios in Spain. Double-height living room, independent staff apartment, beautiful gym and Spa area.

218

(+34) 952 822 1 1 1

info@panorama.es

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Beds Baths: Total Built: Plot: Price:

7 7+2 887 m2 1,415 m2 € 8,750,000

MARBELLA EAST: Hacienda Las Chapas | Ref: 15686 | Map: p237, Nº46

Elegant, modern villa in Hacienda Las Chapas Impressive, newly-built property that perfectly combines contemporary design with maximum comfort and functionality.

Spread over three levels, this villa offers 450 square-metres of built area on a generous plot, and has been conceived with top-quality materials and luxury finishes. Just five minutes walk to the beach.

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Beds Baths: Total Built: Plot: Price:

info@panorama.es

4 4+1 545 m2 1,344 m2 € 3,495,000

(+34) 952 822 1 1 1

219

MARBELLA EAST: Los Monteros Palm Beach | Ref: 15339 | Map: p237, Nº42

Sophisticated apartment with sea views in Palm Beach Experience refined coastal living in this beautifully renovated luxury apartment, nestled within the exclusive Palm Beach community.

Showcasing a seamless fusion of contemporary style and timeless elegance, this stunning residence offers privacy, comfort, and sophistication.

220

(+34) 952 822 1 1 1

info@panorama.es

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Beds Baths: Built: Terraces: Price:

3 2 150 m2 40 m2 € 2,450,000

MARBELLA EAST: El Rosario | Ref: 10704 | Map: p237, Nº47

Family home with sea views and a mature garden Located in the sought-after residential area of El Rosario, this southfacing, single-level family home offers a perfect blend of comfort, style, and convenience. Bright, cozy living room with fireplace, modern kitchen, playroom and lundry area. Thoughtfully designed and completely renovated to the highest standard, providing an exceptional living experience.

Regulated by RICS

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Beds Baths: Total Built: Plot: Price:

info@panorama.es

4 3+1 323 m2 1,746 m2 € 1,745,000

(+34) 952 822 1 1 1

221

Contact the rentals team now on: (+34) 952 901 015 or email: rentals@panorama.es

Sarina Garber, Rentals Consultant

222

(+34) 952 822 1 1 1

Beatriz Garvayo, Rentals Consultant

info@panorama.es

Sian-Ellen Roskott Rentals Consultant

www.panorama.es

Silvina Rigada Holiday Rentals Mgr.

Properties for Rent

ON THE COSTA DEL SOL

Handpicked luxury villas, apartments and townhouses in the best locations, for both long and short-term rent in Marbella and the surrounding areas. Renting a property offers the perfect opportunity to experience life in Marbella and helps one decide on the ideal property, if you’re thinking of buying.

Panorama offers a fully personalised service using our extensive property portfolio and long standing relations with our direct owners, enabling us to offer a curated experience to our clients. We negotiate

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the best terms and see our clients through the contract procedure, as well as an assistance service if required, during the whole tenancy.

Our rentals team speak English, Spanish, French and German. Come and see us for an informal chat, we’re opposite the Marbella Club Hotel.

www.panorama.es

info@panorama.es

(+34) 952 822 1 1 1

223

Long-term rent

MARBELLA EAST: Hacienda Las Chapas | Ref: 15868 | Map: p237, Nº46

Enchanting villa with separate apartment in Hacienda Las Chapas The main villa features five spacious bedrooms, each with its own bathroom / shower room, plus one independent apartment with two bedrooms and two bathrooms. The layout is designed for both comfort and style. A perfect abode in one of the most established residential areas of east Marbella.

224

(+34) 952 822 1 1 1

info@panorama.es

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Beds: Beds: Total Built: Plot: Long-term

7 7+2 606 m2 2,218 m2 € 14,000 p/m

Long-term rent

MARBELLA EAST: Elviria Playa | Ref: 15596 | Map: p237, Nº48

Spacious and welcoming villa just steps from the beach This fabulous property exudes warmth and offers different areas for family living. Only 200 metres from the beach, it is also close to all amenities, restaurants, shops, supermarket and transport, making it the perfect choice for those seeking a serene yet vibrant coastal lifestyle.

Regulated by RICS

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Beds: Baths: Total Built: Plot: Long-term:

info@panorama.es

7 7+1 526 m2 1,728 m2 €12,000 p/m

(+34) 952 822 1 1 1

225

Long-term rent

GOLDEN MILE: Monte Paraíso | Ref: 13948 | Map: p235, Nº52

Luxury apartment perfect for the winter months Delightful, three bedroom apartment in this award-winning gated community. This development has 24-hour security, a large main pool and two additional pools. Residents can enjoy a fantastic indoor pool, gym, squash court and sauna as well as a summer café and children’s play area.

226

(+34) 952 822 1 1 1

info@panorama.es

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Beds: Baths: Built: Terraces: Long-term:

3 2+1 168 m2 40 m2 € 6,000 p/m

Long-term rent

GOLDEN MILE: Puerto Banús | Ref: 11826 | Map: p236, Nº22

Magnificent penthouse in a top residential complex Designed to the highest standards the apartment is generously proportioned and elegantly furnished throughout. Located in one of the most prestigious developments in Puerto Banús, residents can enjoy fantastic facilities such as an indoor heated swimming pool, gym, jacuzzi, 24-hour security and direct access to the promenade.

Regulated by RICS

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Beds: Baths: Built: Terraces: Long-term:

info@panorama.es

3 3 270 m2 277 m2 € 10,000 p/m

(+34) 952 822 1 1 1

227

Short-term Rentals and Event Villas Over the last decade, Marbella has developed into a key European destination for all sorts of events: weddings, corporate functions, reality shows, photoshoots, Netflix productions, international films, TV shows and music videos. These are some of our most luxurious villa rentals, all ideal for these type of events.

228

(+34) 952 822 1 1 1

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Short-term rent

MARBELLA EAST: Costabella | Ref: 11770 | Map: p237, Nº42

Modern, beachfront villa with unbeatable views This stunning villa epitomizes contemporary luxury with its Scandinavian design and sophisticated elegance. Fully refurbished to the highest standards. Marbella East is a highly sought-after area known for its wide sandy beaches and relaxed ambience.

Beds/Baths: Total Built: Plot: Price:

6/4 566 m2 749 m2 € 17,000 p/w

OFFICIAL TOURISTIC CODES: VUT: VFT/MA/22838 NRUA: ESFCTU0000290280000068580000000000000000VFT/MA/228385

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(+34) 952 822 1 1 1

229

Short-term rent

GOLDEN MILE: Cascada de Camoján | Ref: 15898 | Map: p235, Nº11

Exceptional, grand villa in a sought-after gated community Striking residence designed by the renowned architect Joaquín Torres, this 21-century statement property boasts spacious, modern and impressive interiors whilst remaining at its core an elegant and inviting home. Outside areas feature sophisticated lounges and an al-fresco dining area.

OFFICIAL TOURISTIC CODES: VUT: VUT/MA/19572 NRUA: ESFCTU0000290410000230520000000000000000VUT/MA/195729

230

(+34) 952 822 1 1 1

info@panorama.es

www.panorama.es

Beds/Baths: Total Built: Plot: Short-term:

8/8 + 1 3,152 m2 6,466 m2 € 12,500 p/d

Short-term rent

NUEVA ANDALUCÍA: Las Brisas | Ref: 09668 | Map: p236, Nº28

Contemporary-style villa with stunning views Originally designed by a renowned architect and distributed on three levels. The living/dining area boasts a fireplace and double height ceilings with access to a partly covered terrace. Outside a Scandinavian wooden deck, heated infinity pool and Jacuzzi.

Beds/Baths: Total Built: Plot: Short-term:

7/6 + 1 668 m2 1,117 m2 € 17,000 p/w

OFFICIAL TOURISTIC CODES: VUT: VUT/MA/04849 NRUA: ESFCTU0000290410000385820000000000000000VUT/MA/048494

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231

Event Villas

GOLDEN MILE: Puerto Banús | Ref: 13064 | Map: p236, Nº25

El Martinete, a frontline beach mansion of timeless prestige A truly iconic estate gracing Marbella’s Golden Mile, this legendary frontline beach mansion is a rare jewel on the Costa del Sol. Once the residence of the renowned flamenco dancer Antonio “El Bailarín”, the property carries a remarkable heritage – most notably, the pool floor bears an exclusive, hand-painted dedication by Pablo Picasso.

OFFICIAL TOURISTIC CODES: VUT: VUT/MA/40986 NRUA: ESFCTU0000290410000067340000000000000000VUT/MA/409862

232

(+34) 952 822 1 1 1

info@panorama.es

www.panorama.es

Beds:

9

Baths:

9+1

Total Built:

1,757 m2

Plot:

4,011 m2

Price:

€ 80,000 p/w

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www.panorama.es

info@panorama.es

(+34) 952 822 1 1 1

233

Event Villas

BENAHAVÍS: Los Flamingos Golf | Ref: 13998 | Map: p237, Nº28

Iconic event mansion overlooking Los Flamingos golf course This landmark contemporary estate is an architectural triumph—designed for discerning families, groups, and wellness-focused clientele seeking the pinnacle of luxury living. Spanning an impressive 2,175 square-metres of refined interiors, this one-of-a-kind villa has been masterfully reimagined to world-class standards.

OFFICIAL TOURISTIC CODES: VUT: VFT/MA/61938, VFT/MA/61936 NRUA: ESFCTU0000290420004024720000000000000000VFT/MA/619389 ESFCTU0000290420004024650000000000000000VFT/MA/619367

234

(+34) 952 822 1 1 1

info@panorama.es

www.panorama.es

Beds:

15

Baths:

15

Total Built:

2,175 m2

Plot:

4,165 m2

Price:

€ 75,000 p/w

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www.panorama.es

info@panorama.es

(+34) 952 822 1 1 1

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Golden Mile areas & complexes 24

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67 56

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1 Panorama, Hotel Puente Romano 2 Panorama, Opposite Marbella Club

3 4 5 6 7 8 9 10 236

Casablanca Santa Petronila Santa Margarita Marbella Club Las Torres Los Verdiales Puente Romano El Ancón

39

11 12 13 14 15 16 17 18 19 20 21 22 23 24

38

Cascada de Camoján La Quinta de Sierra Blanca Sierra Blanca Altos Reales A Altos Reales B Nagüeles La Carolina El Vicario Altos de Puente Romano Los Picos de Nagüeles Marbella Hill Club La Capellanía Marbella Hill Club II Sierra Blanca Country Club

10

70

37

25 Lomas del Marbella Club 26 Ancón Sierra 27 Village Las Lomas de Magna Marbella 28 Mare Nostrum 29 Gran Marbella 30 Don Gonzalo 31 Marina Mariola 32 Alhambra del Mar 33 Las Cañas 34 Puente Romano 35 Puente Romano II 36 Marina Puente Romano

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Terrazas de Puente Romano Oasis Club Port Oasis Playa Esmeralda Oasis de Banús Jardines del Príncipe Condado de Sierra Blanca Monte Paraíso Country Club Los Ceibos Imara Monte Castillo Mansion Club Lagos de Sierra Blanca Reserva de Sierra Blanca

51 52 53 54 55 56 57 58 59 60 61 62 63 64

Señorío de Marbella Monte Paraíso Ancón Sierra IV La Trinidad Lomas de Sierra Blanca EPIC by Fendi Río Verde Alto La Virginia Hill Club Sierra Blanca Sierra Blanca del Mar Meisho Hills Villa Magna Lomas Pueblo Coto Real

65 66 67 68 69 70 71 72 73 74 75

Benalús Karl Lagerfeld Villas Design Hills D&G Concept 8 Vilas 6 and 12 UNO Lomas del Virrey The Earth Marbella Real Elie Saab Le Blanc

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Greater Marbella area & complexes 32 31

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Marbella West 41

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1 Panorama, Hotel Puente Romano 10 Marbella Sierra Blanca 2 Panorama, Opposite Marbella Club 11 Marbella Hill Club 12 Rocío de Nagüeles 1Marbella Town & Golden Mile 13 Lomas del Marbella Club 2 3 Alhambra del Mar 13 El Ancon Sierra 4 Casablanca 14 Monte Paraíso 5 Las Cañas 15 Marina Puente Romano 3 La Virginia 16 La Trinidad (Istán Road) 6 4 17 Lomas de Río Verde 7 Mansion Club 5 Altos Reales Oasis Club 18 8 6 19 Playa Esmeralda 9 Cascada de Camoján 7

33

Puerto Banús 20 La Alzambra 21 Los Granados 22 Playas del Duque 23 El Embrujo Banús 24 El Embrujo Marbella 25 Malibú Nueva Andalucía

26 Aloha Golf 27 Los Naranjos Golf 28 Las Brisas Golf

8

MARBELLA IN NUMBERS | Official population: 166,999 (January 2025)

9

Real population incl. unregistered residents/tourists 2025 (est.): Winter 265,000 August 800,000

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Marbella East 45

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Benahavís 29 La Quinta Golf 30 Los Arqueros Golf 31 El Madroñal 32 La Zagaleta 32B Marbella Club Golf Resort Marbella West 33 Cortijo Blanco 34 Linda Vista Baja 35 Guadalmina Baja & Golf

48

47 46

36 Guadalmina Alta & Golf 37 Valle del Sol 38 Casasola New Golden Mile 39 Atalaya Park 40 El Presidente 41 Benamara Marbella East 42 Reserva de Los Monteros 43 Río Real & Golf

44 Bahía de Marbella 45 Altos de Marbella 45 Los Monteros Hill Club 45 Samara 46 Urb. Las Chapas 47 El Rosario 48 Elviria Inland Areas 49 Ojén 50 Istán

Area: 114.3 km2 | Length of Coastline: 27 km | Average days of sun per year: 320 Average annual temperature: 19 °C | Marinas: 3 | Golf Courses: 19 and nearby 24 more 239

PUENTE ROMANO Panorama Sales Office next to the reception of the Nobu Hotel at Puente Romano

(+34) 952 822 111

OPPOSITE THE MARBELLA CLUB Panorama Headquarters opposite the Marbella Club Hotel (upper level, private client parking)

info@panorama.es

www.panorama.es