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Guide to Buying Marbella Property

Located in Spain's Costa del Sol, Marbella offers a luxurious lifestyle, stunning scenery, and a thriving property market. In this guide, we'll help you navigate the process of purchasing property in Marbella.

Why Choose Marbella?

Marbella is a popular destination for property buyers, offering:

  • Fantastic climate
  • Gorgeous beaches
  • High-quality infrastructure
  • Strong rental market
  • Diverse property options

Types of Property Available in Marbella

Marbella offers a range of property types, including:

Apartments

Affordable and low-maintenance, apartments in Marbella often come with amenities like pools, gyms, and security.

Townhouses

Townhouses provide a balance between apartment living and owning a detached villa, often featuring private gardens and communal facilities.

Villas

Luxurious and private, Marbella's villas range from modern, minimalist designs to traditional Andalusian styles.

Key Areas to Consider

Some key areas to consider when buying property in Marbella include:

Puerto Banús

Synonymous with luxury and glamour, Puerto Banús boasts high-end shops, restaurants, and nightlife.

Nueva Andalucía

Known as "Golf Valley," Nueva Andalucía offers prestigious golf courses and a mix of property types in a tranquil setting.

Elviria

A family-friendly area with beautiful beaches and amenities, Elviria offers a range of properties from apartments to luxury villas.

Steps to Buying Property in Marbella

Follow these steps for a smooth property purchase:

  1. Define Your Budget and Requirements
  2. Choose a Reputable Real Estate Agent
  3. Conduct Property Viewings
  4. Make an Offer
  5. Secure Financing
  6. Hire a Lawyer
  7. Sign the Contract
  8. Complete the Sale

Costs and Fees

Budget for additional costs and fees beyond the purchase price, including:

Property Transfer Tax (ITP)

  • For second hand homes it is 7% of the reference value of the property.
  • New properties purchased directly from developers do not have transfer tax but a VAT of 10% of the sale price. In addition there is a 1.2% stamp duty on new built properties.

Notary Fees

Expect to pay around €800-€1,200 for notary services.

Land Registry Fees

Registering your property typically costs between €400-€700.

Legal Fees

Legal fees usually range from 1% to 1.5% of the property's value, plus VAT.

Mortgage Fees

Mortgage fees vary depending on the lender and mortgage terms.

Tips for a Successful Property Purchase in Marbella

  1. Do Your Research: Familiarize yourself with the local property market.
  2. Be Patient: Take your time to find the perfect property.
  3. Work with Local Experts: Engage the services of experienced professionals.
  4. Consider the Long-term Potential: Evaluate factors such as rental income, resale value, and future developments.
  5. Get a Property Survey: Arrange a professional survey to identify any potential issues.
  6. Understand Your Rights and Responsibilities: Familiarize yourself with the legal aspects of buying property in Spain.
  7. Factor in Ongoing Costs: Budget for ongoing expenses, such as property taxes, utility bills, and maintenance fees.

By following this guide, you'll be prepared to find your dream property in Marbella, a perfect location for both holiday homes and permanent residences.

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