Marbella’s Golden Mile properties
Marbella’s Golden Mile
Marbella’s Golden Mile is internationally famous. It came by its name in the 1980s when German singer Roy Boston, who retired from recording hits to follow a career in property development, coined the term “Golden Mile’ and it has stuck ever since. There is a road named after the singer in his premier development Alhambra del Mar, which, naturally, is on the Golden Mile.
But, the glitz and glamour of this five kilometer stretch of real estate that starts at Rio Verde to the east of Puerto Banús and ends at Plaza Bocanegra in the west end of Marbella, started long before Roy Boston gave it its famous name.
The history of Marbella’s Golden Mile
In 1954 Prince Alfonso von Hohenlohe-Langenburg, built what is now The Marbella Club Hotel and Resort. Initially, it was his private residence, but proceeded to become the hotel on the coast of southern Spain that royalty and celebrities wanted to visit. Famous visitors include Princess Grace of Monaco, Audrey Hepburn, Laurence Oliver and Cary Grant, and it continues to be the destination of choice for the stars.
The Golden Mile’s fortunes increased with the building of the Al Riyad palace and mosque. Saudi King Fahd visited in the 1970s and selected Marbella as the ideal location for a summer palace that is visible from the N340 coast road. He also invested extensively in Marbella real estate, as did his friends from the Gulf States who followed his lead and summered in Marbella, whilst also developing property in what continues to be a prime location and one of the most desirable places to live on the Costa del Sol.
The New Golden Mile
This Golden Mile is not to be confused with the “New Golden Mile” that stretches from the western borders of Marbella at Guadalmina to the eastern edge of Estepona town.
This has become an area where top quality residential developments emulate the prosperity of the original Golden Mile and the success of the five star Villa Padierna Hotel resort and golf course, which is a Marbella Club and Puente Romano for this section of the coast, has attracted Spanish royalty and many celebrities to its spectacular setting including the 44th President of the United States, Barrack Obama and his First Lady Michelle.
The New Golden Mile is also very attractive for property buyers because it has space. Where the original Golden Mile has now almost run out of building ground, the New Golden Mile can still afford to stretch its legs. There are several new developments on the New Golden Mile that are being constructed on the waters edge, or very close to it, and many contemporary developments that are built next to the golf courses offering impressive views.
Golden Mile or New Golden Mile?
The original Golden Mile is going through a period of renewed interest, much of it thanks to the Puente Romano Hotel.
The hotel has not only brought in Michelin-starred chef Dani García to make it a fine dining destination alongside its very superior Sea Grill and its Suite nightclub and restaurant, but has developed itself as an entertainment venue with its summer concerts held at its tennis courts.
Furthermore it is hosting actual tennis tournaments with star players such as John McEnroe, Boris Becker and Mats Wilander.
So if you are looking for a property near to all the amenities and bustling nightlife, the original Golden Mile is definitely the place for you to buy. However, the price tag reflects its popularity and you will find properties in the Golden Mile to be significantly more expensive than the New Golden Mile.
The New Golden Mile also offers it’s own entertainment. Think of exclusive golf tournaments held in the Villa Padierna Hotel, but also of events scheduled in by the famous Kempinski Hotel which lies at the end of the New Golden Mile in the direction of Estepona.
Furthermore, the new Golden Mile offers a whole host of entertainment in their local bars & clubs, where entry tickets are often half the price as they are ont he Golden Mile.
Real Estate Prices
Entertainments and excellent amenities aside, Marbella’s Golden Mile has some of the coast’s most exclusive and prime real estate. Although the area has a significant number of mature properties from grand mansions to beautifully appointed apartments, all of which offer a secluded, safe and private lifestyle, this year has seen the launch of a select number of new developments aimed at the upper end of the market. The areas of Cascade de Camojan and Sierra Blanca continue to be highly desirable on the inland side of the Golden Mile, whilst on the beachside of the N340, Las Torres, Oasis de Banús and El Oasis Club offer spectacular front line beach living.
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The quality of design and finish at all our properties for sale on the Golden Mile offer a refined lifestyle and are also, very importantly, an excellent investment as interest in real estate in this area of Marbella rarely declines, no matter what is happening in the rest of the world.
The New Golden Mile however offers much more choice when it comes to new developments. From luxury developments with large villas such as “The Villas” project in Cancelada, to the stunning apartments & penthouses in the popular “Atalaya” residences.
The prices for these properties are often lower for almost the same quality of construction, and you are just a 10 minute drive from the famous Puerto Banus so you aren’t missing out on anything really!
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With regards to property investment, both options are very interesting. Properties on the Golden Mile are a great investment opportunity because of its established reputation, but the prices are pretty stable, so even though you will get a great return on investment if you rent your property out for holiday or long term rental, the sales prices are less likely to increase over the next few years.
On the New Golden Mile, property prices are still relatively low, especially when it comes to the new developments, and the area is still developing so the prices are expected to raise significantly over the next years. Holiday rentals, although popular, are not as sought after as on the Original Golden Mile. However, over the years we will see a shift in this as more tourists are flocking the coast and rentals are in higher demand, the next area the tourists will look at are those that offer new luxury properties near the beach, and the New Golden Mile offers exactly that!
Of course we have properties for sale in both Marbella’s Golden Mile and the New Golden Mile of Marbella, so you can rest assured you will get the best of both options. We will thoroughly explore both areas with you so you can make an educated decision on where you would like to buy your new Marbella property.