The Golden Mile, one of the most luxurious residential areas in Marbella, lies to the west of the resort along the Mediterranean coast. It stretches for slightly over a mile (2km) from Puerto Banus in the west to the edge of the center of Marbella in the east.
The best word to describe the Golden Mile in Marbella is luxury
Here you’ll find the best hotels in Marbella, some of the resort’s most expensive properties, lots of tropical gardens and exclusive restaurants and shops. In addition, the Golden Mile has probably the nicest seafront promenade on the Costa del Sol.
High-end tourism in Marbella began on the Golden Mile when Prince Alfonso von Hohenlohe opened the Marbella Club Hotel in 1954. As a result, a long list of celebrities and royalty began to visit Marbella. And many of them fell in love with the resort and ended up building or buying property in the area around Marbella Club. These glamorous residences gave their name to the Golden Mile. Over 60 years later, the area continues to attract la crème de la crème from high society and some of the world’s rich and famous have homes here.
The main Marbella’s Golden Mile areas
The area closest to Puerto Banus is made up of several developments including Rio Verde, home to several new property projects; Urb Ancón where you’ll find Victor’s Beach, one of the most famous beach bars on the Costa del Sol; and El Oasis with several apartment complexes and a shopping center.
To the north of this section of the Golden Mile is the world-famous Olivia Valere nightclub plus two popular establishments for higher international education – Les Roches International School of Hotel Management and the American College of Marbella.
The section between El Ancón and Marbella houses are some of the most luxurious properties and hotels on the Costa del Sol. The most prestigious of the 5-star hotels in Marbella is located here: Puente Romano and Marbella Club. Both have exceptional facilities including beach clubs and spas. Puente Romano is also home to the renowned Puente Romano Tennis Club which hosts world-class tournaments and, in the summer, concerts, and events. Marina Puente Romano offers high-end frontline beach apartments in landscaped Japanese and Persian gardens.
Michelin-star holder Dani García owns two restaurants on the Golden Mile, Leña and Bibo, both at Puente Romano Hotel. There are several other good restaurants here including 13 more at Puente Romano Hotel. Trocadero Playa, one of the best beach restaurants in Marbella, is also located in the area.
Nearer Marbella has several exclusive boutiques and art galleries too.
The Real Estate Market at Marbella’s Golden Mile
Property on this part of the Golden Mile consists of apartment complexes such as Las Lomas de Marbella Club, built in a Mediterranean pueblo style, and luxury villas. Some of them are so large they resemble palaces. Much of the new development on the Golden Mile has recently taken place here. New builds include exclusive apartments at Las Lomas del Rey and La Trinidad and ultra-modern villas at Concept.
The sloping terrain means that most properties on the Golden Mile have sea views. In addition, many also enjoy panoramic views of the Sierra Blanca Mountain range that backs the resort to the north.
Several exclusive property developments lie to the north of the Golden Mile. These include Hacienda Nagueles, a development combining apartments, townhouses, and villas. Sierra Blanca, slightly further north and in the foothills of La Concha, Marbella’s emblematic mountain peak has several high-end apartment complexes and large villa properties.
The Golden Mile has easy access to Marbella and Puerto Banus, nearby resorts, and Malaga Airport. Both the A-7 highway and the AP-7 toll motorway are just a short drive away.
The center of Marbella is a five-minute drive from the Golden Mile. The same applies to Puerto Banus. Both are so near you can walk there along the pleasant seafront promenade.
Some of the best beaches in Marbella lie along the Golden Mile. They are mostly sand and can be surprisingly quiet even in high season. A succession of good beach bars and restaurants line the seafront promenade.
The Marbella Golden Mile is home to some of the finest properties on the Costa del Sol, with listings including fabulous penthouses, stunning new builds, and of course, amazing villas.
Marbella’s famous Golden Mile will always rank highly within any listing of elite residential locations in Spain and throughout Europe. The impressive showcase of luxurious properties in the area includes beachfront penthouses, golf properties, and grand family homes that offer the ultimate Marbella lifestyle in its most privileged location.
Acquisition of real estate on the Costa del Sol is a costly event in itself. Prices for the purchase of luxury housing, with a private pool, several bedrooms and bathrooms, start from 1,000,000 euros, depending on the area where they are located, as well as the distance from the sea.
Considerations to take into account when buying a property in Marbella
The question that remains open after the purchase of the villa is the costs that you will face when becoming the owner of a villa or any other type of property in Marbella. It will depend on several factors such as the location, property value, the size of the plot and the house itself, the age of the building, and the type of urbanization or area the villa is adjacent to.
- In closed urbanizations, security costs are added to fees for garbage collection, land improvement, and general infrastructure maintenance.
- The cost of maintaining urbanization varies depending on the prestige of the urbanization and the number of villas or residents on the territory.
- Annual council tax (IBI): this tax is equal to 0.4-1.1% of the cadastral value, which is usually several times lower than the market value.
- Annual Personal Income Tax (IRNR). Non-residents of Spain pay 25% of 2% of the cadastral value of the property. Or, if the property of a non-resident is rented out, according to the law, it is required to declare the income received and pay tax on it. But very often, a tax of 25% of the entire rental received is simply paid. Residents of Spain pay income tax based on their annual income.
- Wealth tax. Calculated based on the net asset value. The rate ranges from 0.2% to 2.5%.
- Supplier contracts: most Spanish providers offer a package that includes internet, television, and telephone. It costs approximately 50 euros per month.
- Installation of a security system in a new house will be approximately 400 euros. As a rule, alarms are already connected in villas. The monthly fee can be anything from 40 to 200 euros.
- The cost of the maintenance of the community areas is stated in your community of owner’s fees, and this amount will always depend on the complex. These fees will be destined for the maintenance of the common areas and the maintenance of the internal infrastructure in the urbanization. If your villa is located in closed urbanization, it can be anything from 300-1500 euros depending on the complex per month, or trimestral. The price is conditional, it all depends on the individual urbanization and the area.
These are just some of the costs involved in being an owner of a property in a prestige’s area that is the” Golden Mile”.
If you wish for any additional information, don’t hesitate to call the lawyer first!