This significant investment by Lithuanian and Estonian funds in one of Marbella’s prime communities underscores the increasing allure of the Costa del Sol’s luxury property market among Northern European investors, continuing to solidify Marbella´s position as a leading destination for high-end real estate.
Marbella’s luxury real estate market has once again captured the attention of international investor. Recently, Lithuanian investment firm Evernord, in collaboration with Estonian fund Novira, announced a joint venture to develop six luxury homes in the prestigious gated community of Cascada de Camoján on Marbella´s Golden Mile, underscoring the strength of Costa del Sol’s real estate market.
The influx of investment from Baltic countries is part of a broader trend that has seen Marbella and the Costa del Sol becoming increasingly popular among Northern European investors. These regions have demonstrated a strong preference for Marbella’s luxurious lifestyle and investment opportunities, contributing significantly to the area’s real estate transactions over recent years. Jolanta Jurga, founder and board member of Evernord, which manages assets worth €250 million, emphasised that their investment strategy remains resilient across different economic cycles, reflecting the enduring value of Marbella’s luxury real estate market.
BGI Lawque, a firm with extensive experience guiding international investments in Spain, is handling the legal and tax aspects of this investment. Notably, BGI Lawque has previously advised on other significant projects, including a €150 million Golden Mile,investment by the UAE fund Unicorn Royal Emirates in a luxury hotel and branded residences in Estepona. This project, which involves revitalising a stalled beachfront hotel in Estepona, aims to transform the property into a high-end resort with branded residences, targeting completion by 2027. This underscores the growing trend of international capital flowing into the Costa del Sol’s luxury real estate and hospitality sectors.
Marbella continues strengthening its position as one of Spain’s foremost luxury property markets. According to Idealista data, property prices in Marbella have risen by around 14.5 per cent over the past year, with an average price of €4,885 per square metre as of July 2024, representing an 1.5% increase fron June, and over 5% increase since April. This growth has placed Marbella ahead of Madrid and Dubai, ranking it the sixteenth most expensive city globally for luxury residences. High-demand areas like Nagüeles-Milla de Oro, Sierra Blanca, Nueva Andalucía, and Las Chapas-El Rosario are particularly notable for their premium values. In these prime locations, new developments and refurbished homes command prices of up to €28,600 per square metre, further highlighting the robust nature of Marbella’s luxury property market.
Among the most talked-about developments is the Dolce&Gabbana branded residences, Design Hills Marbella. This ultra-luxury project, spearheaded by Sierra Blanca Estates, has already achieved pre-sales worth €250 million, with prices starting from €4 million. This development is a testament to the ongoing demand for high-end properties in Marbella, drawing attention from global investors and setting new benchmarks for luxury living in the region, which reflect´s Marbella´s increasingly popular attraction for international tourism over recent years.
Marbella’s luxury real estate market continues to attract significant international investment, driven by its appeal to Northern European investors and the broader global market. As new developments emerge and property values rise, Marbella’s status as a premier destination for luxury living remains stronger than ever. Whether for residential purposes or investment opportunities, the allure of Marbella’s exclusive real estate shows no signs of diminishing.
Mary Dunne Partner & Private Office Advisor
Mary Dunne is an experienced Real Estate Broker in Marbella with over two decades of expertise in the luxury property sector. She offers profound insights into Marbella’s luxury market, backed by her extensive experience with property transactions’ financial and legal facets. Her deep market knowledge positions her as a trusted expert, providing tailored experiences for high-end clients and showcasing Marbella’s lifestyle.
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