Marbella Golden Mile Property
Area Guide
Explore Marbella’s charming old town with its narrow cobbled streets lined with chic shops and little cafés and visit the town’s impressive 17th century Cathedral – the ‘Iglesia de Santa Maria de la Encarnacion’ before heading down to the marina for a leisurely lunch of tapas and local wine; while away a relaxing afternoon sunbathing on the terrace of your luxury villa before enjoying an early evening stroll along the ‘Paseo Maritimo’ to watch the sun sink over the glistening Mediterranean Sea whilst sipping a dry martini cocktail; take the boat to Puerto Banús and spend a cultural afternoon wandering around the Sammer Gallery – famous for its contemporary Spanish art and sculpture - and then return to your frontline penthouse for a relaxed dinner of freshly grilled fish and seafood. Stretching from Marbella to Puerto Banús on Spain’s Costa del Sól, there is an excellent range of Marbella Golden Mile property for sale offering investors the opportunity to become part of this fabulously beautiful and chic part of Spain.
When it comes to the most sought after location for luxury property in Marbella, the Golden Mile is the place to be. Having evolved around the success of the luxury Marbella Club and Puente Romano Hotels, Marbella Golden Mile property is exclusive and luxurious with many properties boasting gyms, cinema rooms, jacuzzis, lush tropical gardens and 24-house security and concierge services.
Marbella Golden Mile property prices remain high with increasing demand from international buyers for high-end luxury property in and around Marbella Golden Mile and with the highly stable rental market, Marbella Golden Mile property makes a great investment.
The beachside homes of the Golden Mile are the most in demand and in the shortest supply and there are still some properties being developed on the mountain side of the Golden Mile offering excellent property investment opportunities. Luxury homes for sale in Las Lomas del Marbella Club, Altos de Puente Romano, El Vicario, La Carolina, Costa Nagüeles and Río Verde offer the chance to enjoy the Golden Mile lifestyle in a natural, secluded and secure setting, yet only minutes away from all the medical facilities, international schools and designer shops of Marbella and Puerto Banús.
There is a wide range of Marbella Golden Mile property for sale to suit all tastes and budgets ranging from contemporary apartments and newly built townhouses to luxurious villas with private gardens all mostly located in exclusive and secluded gated communities. The most luxurious and elegant of these being Sierra Blanca where two bedroom apartments or townhouses typically start at around 400,000 EUR rising to over 10m EUR for properties with sea views.
Beachside properties command premium prices. For example a two bedroom apartment just metres from the beach and the promenade with sea and mountain views would cost in the region of 750,000 EUR whilst two or three bedroom frontline apartments with direct access to the promenade start at around 1.2m EUR. For larger apartments and villas by the sea expect to pay up from 2.2m EUR.
Marbella Golden Mile property provides investors with the perfect opportunity to buy a property in one of the most desirable locations in Spain. Whether you decide to buy a fabulous contemporary villa with panoramic views of the mountains and sea, a modern apartment with direct access to the golf course or a charming townhouse right in the town centre, Marbella Golden Mile makes a perfect holiday and investment destination.
Buying a Property in Spain
1. Putting down a Holding Deposit
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.
2. Setting up a Pre-agreement (Contrato privado de compraventa)
The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.
3. The Contract (Escritura de compraventa)
Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.