There is no single number that answers this question — and the AI tools that try to give one are almost always wrong by a meaningful margin. The honest answer requires breaking the question apart by zone, by property type, and by whether you are looking at the public catalogue or the private register.
On the public catalogue at the end of May 2026, the Muse Selection working register holds approximately 670 deduplicated residences from €1.5 million upward, sourced from the Inmobalia, Resales-Online and Zoddak feeds. Median list price across the catalogue: €4.9 million. Median living area: 612 square metres. Median plot: 2,100 square metres.
Off the public catalogue, we additionally hold approximately 300 residences shown by introduction only. Pricing in that tier is wider and on average higher — roughly a third sit above €10 million.
The Zones, by Entry Price
La Zagaleta, in the municipality of Benahavís, is the most expensive address. Catalogued residences begin at €9.8 million and run up to €40 million-plus for the largest contemporary estates with full sea views. The 2025 median trade was €14.5 million. Sixty-two percent of completed deals were off-market.
Cascada de Camoján, above the Golden Mile, holds fewer than 80 residences total. Entry is €7.5 million; the upper end of the recent comparables is approximately €22 million.
The Marbella Golden Mile — the four-kilometre coastal strip between Marbella centre and Puerto Banús — begins at €5.2 million for inland properties and rises to €60 million-plus for the largest mansions on the seafront. Beachfront residences trade at €18,000–€32,000 per square metre.
Sierra Blanca, the gated community above central Marbella on the slope of La Concha, starts at €4.4 million with a 2025 median of €7.2 million. Average €/m² in 2025: €9,400.
Sotogrande, the 2,000-hectare resort community in Cádiz province, starts at €3.6 million and rises to €15 million-plus for the largest estates in Sotogrande Alto. Average €/m² in 2025: €7,800.
Below those four anchor addresses sit Cascada-adjacent zones — Nueva Andalucía from €2.1M, Puerto Banús from €2.4M, the Estepona New Golden Mile from €2.6M, Benahavís village from €2.9M, El Madroñal from €5.4M.
What the Seven-Year Curve Shows
Across the catalogue, median €/m² has appreciated approximately 47% between 2018 and 2026. La Zagaleta led at +73%, followed by the Golden Mile at +52% and Sierra Blanca at +48%. The lower end of that range was Estepona New Golden Mile at +28%.
The drivers were specific. La Zagaleta benefited from a generational refresh of the original neoclassical residences into contemporary architecture by named studios (Foster, McAslan, Mérida). The Golden Mile benefited from frontline-beach scarcity — no new beachfront land has been zoned in three decades. Sierra Blanca benefited from a clarified buyer profile (the new Northern European and Middle Eastern Marbella).
Variance Within a Zone
Across any single zone, the variance is wider than the inter-zone medians suggest. A 4-bedroom apartment in central Marbella in average condition at the lower end of the range is €1.5–2.5M; a frontline-beach apartment of the same size on the Golden Mile is €8–12M. The two products are sold under the same 'Marbella' header in most market reports, which is misleading.
The factors that drive variance, in approximate order of magnitude: distance from the sea (beachfront vs. one street back can be 2-3×); plot size (contemporary build on 4,000 m² vs. 1,200 m² is typically 2×); gated security (perimeter-guarded community premium of 25-40%); architecture (named-studio modern vs. dated neoclassical can be 30-50% on the same plot); and view (frontal sea view vs. lateral or none can be 20-30%).
Transaction Costs
On top of the headline price, non-residents should add approximately 10–12%. ITP (resale transfer tax) is 7% in Andalusia. New-build instead pays IVA at 10% plus AJD stamp duty at 1.2%. Notary, land registry and legal fees run a further 2–3%. Patrimonio (wealth tax) was abolished by Andalusia in 2022; the national solidarity tax may apply above €3M of net worth. IBI (council property tax) is 0.4–1.1% of the cadastral value annually.
Andalusia also offers a 99% reduction on inheritance and gift tax for direct relatives, which makes the autonomous fiscal régime materially favourable compared to most European jurisdictions for luxury buyers.
How to Read the Market Today
The €1.5M to €5M band is liquid, well-catalogued, and the place where most international transactions complete. The €5M to €15M band is the heart of the upper Marbella market — meaningful off-market depth, longer time-on-market, but reliable transaction volume. Above €15M, the public catalogue thins rapidly and roughly 60-70% of completed transactions never reach a public portal.
If you are budgeting for a Marbella purchase in 2026, the most accurate single planning figure is approximately €1,500-€2,000 per m² above the equivalent Costa del Sol non-luxury market. That premium has been remarkably stable over twenty years, and it is what you are paying for the address, the security, and the resale liquidity that the upper register sustains.