Across Europe’s most coveted coastal enclaves, the luxury property map is evolving. While established icons like Marbella continue to command record-breaking prices, a new wave of opportunity is emerging in their shadows — in secondary markets just beyond the spotlight.
For buyers looking for smart opportunities, these rising destinations offer strategic access to Europe’s most desirable regions, without the price tags that define their central, ultra-prime counterparts.
Few places illustrate this dynamic more clearly than Estepona, just 30 kilometers west of Marbella along Spain’s celebrated Costa del Sol.
Once seen as a quiet alternative, Estepona is now firmly on the radar of investors and international buyers, offering proximity to Costa’s luxury heartland, coupled with growth potential that’s impossible to ignore.
Eric Finnas DahlstromCEO of JamesEditionIn Europe, key luxury destinations such as the south of Spain, Portugal’s coast, the French Riviera, and the Italian countryside continue to attract global buyers. However, as prices in these central luxury districts reach record highs, many investors are now looking at adjacent regions for more opportunities. This trend has led to rapid price growth in neighboring areas, where values are rising at double the pace seen in central luxury hubs, albeit from a lower base. We see this happening in Lisbon’s surrounding areas, Marbella’s outskirts, and other prime European markets, as buyers seek more accessible but still prestigious locations. This movement highlights the scarcity of inventory in traditional top-tier luxury markets, which is pushing demand outward and driving significant price appreciation in previously overlooked regions.
Estepona’s Compelling Value Proposition
JamesEdition’s proprietary data reveals a contrast between Marbella and Estepona that has created a compelling investment opportunity.
The median property price in Marbella currently stands at €2.6 million, while Estepona properties average €895,000 — representing a 66% discount for comparable coastal living in a nearby area.
The price-per-square-meter data tells an even more compelling story, with Marbella properties commanding an average of €7,300 per square meter compared to Estepona’s €5,200 per square meter.
The price gap between the two markets has been steadily widening over time, with Marbella experiencing more dramatic appreciation that has pushed the market toward ultra-premium positioning while Estepona maintains stable growth patterns.
Marbella vs. Estepona: How Estate Size Amplifies Price Gaps Across Markets
The bedroom count analysis reveals how Marbella’s premium intensifies with property size. One-bedroom properties show relatively similar pricing between the markets, with Estepona at €650,000 compared to Marbella’s €750,000.
The gap widens significantly in larger properties. Four-bedroom homes in Estepona average €1.5 million compared to €2.4 million in Marbella. The premium more than doubled in larger estates, where five-bedroom-plus properties in Marbella command €6.8 million compared to €3.0 million in Estepona.
This pattern demonstrates that Estepona offers the greatest value proposition for buyers seeking substantial family estates, where the price differential becomes most dramatic.
The Rise of Estepona’s “New Golden Mile”: El Campanario to Kempinski
Recent years have seen the arrival of modern residential projects, upgraded transport links, and a highly anticipated marina development designed to elevate Estepona’s global appeal. But nowhere is this transformation more visible — or more strategic — than along Estepona’s New Golden Mile.
Stretching from Casasola to just beyond the Kempinski Hotel, the New Golden Mile offers both beachside and mountainside living — and crucially, development potential. Over the past five to seven years, this area has witnessed a marked surge in demand, fueled by a rare combination of available land and a streamlined licensing process.
Development surged over the past five years. Available land and streamlined licensing contrast sharply with Marbella’s restrictive approval process.
The area now hosts El Campanario Country Club, Selenza Thalasso & Spa, and Senator Banus Spa Hotel. Coastal pathways connect beach clubs, parks, and fitness facilities. Inland valleys feature premier golf courses.
This creates a complementary ecosystem where Estepona serves as an aspirational entry For those seeking investment opportunities beyond Marbella’s maturing market, Estepona — and particularly the New Golden Mile — represents a compelling alternative. Infrastructure is in place, demand is rising, and the window for early-mover advantage is still open.
Southern Spain offers a next-generation luxury market — discover our curated selection of premium properties in Estepona
