Marbella’s property market has many different faces – there is virtually something for everybody, from millionaire’s row at the Golden Mile in Marbella’s western districts to the affluent and refined surroundings of El Rosario and Hacienda las Chapas and the affordable but not cheap-as-chips in Elviria in the east of the town.

El Rosario is a small urbanisation by the seaside, a pleasant blend of sumptuous villas with turquoise swimming pools and landscaped mature gardens to small apartment complexes oozing understated luxury. Property in the area is very attractive thanks to excellent design and quality of build. Close proximity to a long stretch of golden sandy beach and great local amenities like restaurants and bars as well as a large supermarket make this a desirable location.

El Rosarios peacefulness and excellent leisure facilities attract mainly families, as this is an ideal spot to bring up children or to have a quiet family holiday. Although this is a much quieter part of Marbella and appears to be far removed from the hustle and bustle of the touristy town centre, El Rosaria is really only a 45 minute drive away from Malaga Airport and a 10 minute car journey away from Marbella proper. Property prices for villas start at around EUR 500,000. Holiday rentals of a 4-bed villa with pool and garden start at EUR 1,800 per week.

Local bus services take semi-permanent and permanent residents to neighbouring resorts like Mijas, Fuengirola and into Marbella itself.

Neighbouring Elviria, also located in the east of Marbella, is far more affordable – a luxury new apartment here will cost just EUR 250,000 and have all the kitchen appliances, marble floors and large sun terraces a property hunter could wish for. It takes just five minutes to drive from El Rosario to Elviria, but the two districts couldn’t be more different with regard to property price bands. Elviria has more shopping facilities and perhaps a greater choice of property styles than El Rosario. Resale town houses, villas, penthouses and apartments are also available in greater numbers than in El Rosario or Hacienda las Chapas.

The latter district of Marbella is a leafy green, pine forested area that can best be described as an upper class, low density neighbourhood. As the pine forests are protected there will be little or no change to the layout of the district, making this a sought-after part of town. Prices for 3 to 4-bed villas with an average plot size of ca. 1,600 sqm start at EUR 800,000. Larger villas with more bedrooms and larger plots cost around EUR 5 million. On average, a modern design luxury villa with 5 bedrooms, mature gardens and swimming pool will typically cost around EUR 3 million in Hacienda las Chapas.

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The east of Marbella is home to a number of excellent golf courses and also boasts one of the best stretches of beach at the Costa del Sol. Altos de Elviria, Marbesa and Cabopino are also districts in the east, where property hunters looking for great views, value for money and modern, good quality build and design will find what they are looking for. These districts are also perfect for holiday lettings.

The recent changes in holiday home regulations for those wishing to let their holiday home for part of the year have caused some considerable confusion among home buyers and have infuriated hoteliers in many parts of Spain.

It was recently estimated that some EUR 3 billion of Spanish rental income remains undeclared every year. For the past few years the residential letting sector has grown considerably compared to overnight stays in hotels. No wonder then that hoteliers are calling for stricter regulation.

In Mallorca for example the residential tourism sector accounts for 45% of the entire holiday market and creates a considerable income for the local economy. Holiday lettings also generate jobs for gardeners, cleaners or pool cleaners for example.

Elviria at the Costa del Sol is a good place to invest in a holiday lettings property, as here luxury 2-bed properties with sun terrace of communal swimming pool generate around EUR 1,000 per week in lettings during the peak months.