Buying New Developments in Marbella: An Investment Guide

Have you ever dreamed of moving into a brand-new home? On the Costa del Sol, enjoying your new property is possible—and easier than you might imagine—whether you are looking for a permanent residence or a safe and profitable investment.

Many clients have expressed doubts about buying off-plan or properties under construction. Concerns often arise regarding the security of these transactions or the waiting period before moving into the property.

In this article, we analyse why investing in new developments on the Costa del Sol remains one of the smartest decisions in 2026—and how to make the most of this type of investment.

The Costa del Sol: a market with sustained growth

The Costa del Sol has firmly established itself as one of the most sought-after real estate investment destinations in Europe. With its enviable climate, Mediterranean lifestyle, top-tier infrastructure and growing international demand, investing in new developments here offers not only solid returns, but also quality of life and medium- to long-term capital appreciation.

Since the COVID-19 crisis, the Spanish coastal real estate market has experienced a notable and steady increase. Buyers have realised they no longer want to face another lockdown in large cities, without views, terraces, gardens or sufficient living space. This shift in priorities has led to a significant surge in property purchases along the coast.

Predictions of a downturn in the Spanish property market did not materialise in coastal areas. On the contrary, recent years have marked the strongest market performance since the 2010 real estate crisis.

Today, we see continued market growth, driven by increasing demand—especially from international buyers with a strong investment and financial culture.

The luxury and premium segment has benefited the most from this transformation, with new developments leading the way. Modern projects now offer superior construction quality, high-end on-site services, sustainable buildings and cutting-edge architectural design.

This creates an environment in which new developments appreciate faster than resale properties.

New development supply on the Costa del Sol

There is a wide range of new developments available across the Costa del Sol, offering excellent opportunities at different price levels.

Today’s buyers are no longer satisfied with simply owning a property in a city centre. Expectations are higher, and new developments have benefited from this shift. Properties are designed to maximise natural light and space, using modern materials, advanced energy-efficient systems and sustainable solutions, with communal areas conceived for both leisure and remote working.

Benefits of investing in new developments

There are many advantages to purchasing a newly built property. Among the most important are:

• Savings of approximately 10% to 20% below the market value at the time of delivery
• Legal construction guarantees:
  • 1 year for finishes
  • 3 years for habitability
  • 10 years for structural defects
• Modern, high-quality materials
• Contemporary architectural design
• High energy efficiency ratings
• Possibility to personalise layouts and finishes
• Sustainable design and construction
• Premium amenities such as gyms, spas, heated pools and coworking spaces
• Easier access to mortgage financing, often through the development’s guaranteeing bank
• A wide variety of units and typologies to choose from
• High construction quality, services and prime locations attract premium buyers and tenants, resulting in higher rental income and lower vacancy rates

Investing off-plan or under construction: a smart decision

Investing off-plan or at an early stage of construction offers more competitive prices and the potential for significant capital appreciation upon completion. The return on investment between the purchase date and the delivery of the property is often higher than in later construction phases.

Waiting between one and two years for the delivery of a new-build property is not only normal, but can be highly beneficial for both investors and end users. Buying off-plan allows access to more attractive prices and flexible payment plans during construction, while the market continues to evolve.

During this period, the property typically appreciates, meaning that upon completion, its market value may exceed the original purchase price. Buyers also gain time to optimise their tax planning, arrange financing, define the future use of the property (residential, rental or resale) and adapt comfortably to the project timeline.

In dynamic markets such as the Costa del Sol, where demand for new developments exceeds supply, waiting becomes a smart strategy rather than a drawback: you buy today at yesterday’s price and enjoy or monetise the property tomorrow in a more mature market.

In areas such as Marbella and Nueva Andalucía, average capital appreciation exceeds that of many other European coastal destinations.

Additionally, investing in the Costa del Sol is one of the best options not only in Spain, but across Europe, thanks to:

✔ Established areas combined with new infrastructure
✔ Strong tourist and residential demand
✔ Proximity to international airports and high-quality services such as golf courses and international schools
✔ An undeniable appeal due to its excellent climate throughout most of the year

Another major advantage of buying off-plan is the ability to choose everything from the unit itself to finishes, materials and layouts, ensuring the property adapts perfectly to your needs.

Whether for living or purely as an investment, buying off-plan or under construction on the Costa del Sol is a smart decision.

Financial incentives and payment structures for new developments

New developments on the Costa del Sol usually offer very attractive financial conditions, designed to facilitate both investment and medium-term planning. The most common options include:

• Financing through local and international banks, with specific products for resident and non-resident buyers
• Staged payment plans, allowing payments to be spread throughout the construction period
• Tax and structural advantages for foreign buyers, depending on country of residence and individual tax planning

All of this makes investing in new developments a flexible, accessible and strategically advantageous option.

How do payment structures usually work?

Although conditions vary depending on the project and developer, the most common payment structure is as follows:

1. Reservation payment: a small initial amount is paid to secure the unit.
2. Payments during construction: a percentage typically ranging between 20% and 30% of the total property value is paid in stages. In some projects, this may reach up to 40%, distributed across construction milestones.
3. Final payment on completion: the remaining balance is paid upon key handover, on the day the public deed of sale is signed before a notary. At this stage, the following are also settled:
   • 10% VAT applicable to new-build purchases
   • Notary, land registry and administrative costs

This staggered payment system provides buyers with ample time to organise financing, compare mortgage options and plan their investment with complete peace of mind.

Top areas to invest in new developments on the Costa del Sol

Marbella

Marbella is synonymous with luxury, quality of life and international appeal. With constant demand from high-net-worth buyers and a premium offering of services (golf, gastronomy, marinas and boutiques), new developments in Marbella consistently appreciate.

✔ Strong international reputation
✔ Constant demand in the luxury segment
✔ Excellent for medium- and long-term investments

Ideal investment type: premium residences, contemporary villas and sea-view penthouses.

Nueva Andalucía

Nueva Andalucía is renowned for its world-class golf courses and elegant, active lifestyle. It attracts European buyers seeking a blend of nature, sport and proximity to the sea and Marbella.

✔ Top-tier golf environment
✔ Stable demand from residents and holiday renters
✔ High capital appreciation potential

Ideal investment type: apartments with amenities and luxury villas frontline golf.

Estepona

Estepona has experienced steady urban growth, with new beachfront developments and an attractive balance between tourism and residential living. Its price-to-growth ratio makes it particularly appealing.

✔ Solid market growth
✔ More competitive prices than Marbella
✔ Strong appeal for holiday and rental buyers

Ideal investment type: beachfront apartments and modern developments with pools and communal areas.

Málaga City

Málaga is a rapidly expanding city offering the perfect mix of urban life, culture, gastronomy and beach lifestyle. Its international airport and European city appeal have significantly increased demand for new developments, particularly for:

✔ Urban residential living
✔ Long-term rentals (students and professionals)
✔ Second homes with full services

Ideal investment type: city-centre apartments, modern lofts and properties with excellent access to services.

Fuengirola, Mijas Costa & Benalmádena

Fuengirola, Mijas Costa and Benalmádena are coastal urban markets with strong demand for holiday rentals. Their proximity to the airport, excellent transport links and vibrant atmosphere make them profitable investment areas.

✔ Strong holiday rental demand
✔ Excellent connectivity and services
✔ Ideal for seasonal rental income

Ideal investment type: apartments or houses in golf or beach areas with strong rental performance.

Manilva – Casares Playa

Manilva – Casares Playa offers a quieter seaside environment with excellent value for money compared to more established areas. It is emerging as a destination for buyers seeking a Mediterranean lifestyle with strong growth potential.

✔ Growing area
✔ Competitive prices
✔ Ideal for a relaxed lifestyle

Ideal investment type: apartments near the sea and developments with gardens and spacious communal areas.

Estimated returns and trends for 2026

Estimates vary depending on location, project and market conditions.

Conclusion

Investing in new developments on the Costa del Sol in 2026 offers unique opportunities to diversify investments, generate rental income and enjoy a region with an exceptional lifestyle.

Now, it is also possible for you to own a property that truly meets everything you are looking for and need.

Why choose Marbella Propiedades to buy your new-build property?

At Marbella Propiedades, we advise and guide you throughout the entire transaction. We present the best opportunities on the market and maintain constant communication throughout the construction process. We work exclusively with developers of proven reputation.

For foreign buyers, we also assist in securing mortgages with leading Spanish banks, allowing you to receive multiple offers and choose the most favourable option.

When you purchase a new development with Marbella Propiedades, you gain additional advantages that help you save money: stay informed about the latest launches, secure the best prices, be among the first to reserve, and benefit from exclusive offers available during specific periods of the year.

You are one step away from fulfilling your dream.
Contact us directly on +34 637 39 61 61 or complete this form to receive the best options, launches and offers in the new development market in Marbella and the Costa del Sol.

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