€4,812 ($5219,34)—This is the average cost per square meter in Marbella at the end of the first half of the year, according to the real estate portal Idealista. It’s a new record, and it is starting to become unsurprising, as month after month, the figures surpass the previous ones.

Specifically, according to The Agency’s Annual Real Estate Market Report on Marbella and the Costa del Sol, housing prices in Marbella have increased by 10% in the past year, reaching an average of €4,533/m² ( $502 per square foot ) in February 2024. Areas such as Nagüeles-Golden Mile, Nueva Andalucía, and Las Chapas-El Rosario stand out for their high real estate value. The evolution of housing prices for sale in Marbella is unstoppable, and from February to June 2024, prices have risen by €279/m² ($30 per square foot).

The Agency´s Annual Real Estate Market Report on Marbella and the Costa del Sol positions Marbella as the 16th most expensive city in the world for luxury residences, surpassing Madrid and Dubai. New constructions and renovated properties in exclusive areas can reach prices of up to €28,600 per square meter ( $2,949 per square foot).. The rental market also shows notable figures, with an average rent of €2,263 ($2,512) per property.

Benjamin Beza, Sales Director of The Agency Marbella – The Belleside Team, highlighted the region’s appeal: “The solid growth of Marbella’s real estate sector underscores the region’s unique appeal. With its luxurious lifestyle, beautiful landscapes, and solid market fundamentals, Marbella is increasingly becoming a top choice for discerning investors from the United States.”

Thus, housing values are rising in the seven main areas where Idealista divides the municipality. In Golden Mile, the price is already €6,252 ($6,781); in Nueva Andalucía, it is €5,329 ($5,780); and in San Pedro, it nearly reaches €4,000 ($4,400), standing at €3,997 ($3,335). The most affordable area is Elviria-Cabopino, where the price per square meter is ($4,015).