New branded residences, international schools and a growing tech scene are leading the Malaga hotspot’s reinvention as a year-round place to live.
For Marbella’s newest residents, the central hub isn’t a glamorous beach club or Michelin-starred restaurant, but The Pool—a vast glass-and-steel co-working space located on the Golden Mile. This modern hotspot draws members from over 30 countries, predominantly young entrepreneurs in the start-up world, according to its Swedish co-founder, Christian Rasmusson.
This new wave of residents is part of what Rasmusson calls “Marbella 2.0,” the town’s shift from being a tourist resort and golf-focused retirement spot to a vibrant, year-round home for tech-savvy entrepreneurs and families. Many are digital nomads, attracted by Marbella’s growing tech scene, new branded housing developments, top-notch healthcare, and international schools—such as Swans and Svenska Skolan, the Swedish school, which recently expanded its capacity by 50%, now accommodating 300 students.
In 2023, British buyers were the largest foreign group in the Málaga province (15%), followed by Swedes (8%). However, English voices seem less common in Marbella now than a few years ago. The town is undergoing a transformation into “Scandalucía,” a new chapter for the region. Of the 320 companies in Málaga with at least one Swedish owner, 200 are based in Marbella, many in Nueva Andalucía, an upscale area known as “Little Stockholm,” where luxury villas overlook “Golf Valley.” Swedes are also the biggest spenders per square meter on Spanish properties, according to Idealista.
Max Burde, 50, founder of a Swedish car company, recently purchased a part-time home in La Quinta, a golf resort north of Nueva Andalucía where villas cost between €3.7m and €14.5m. “It’s like Los Angeles—mountains, weather, beach, and nature,” he says. “I hope to move here permanently.”
Canadian entrepreneur Razor Suleman, who relocated from Silicon Valley with his wife and children three years ago, also calls The Pool his base. “Within four months, we’d bought our villa and knew we were staying for good. Marbella is the perfect place to raise a family and build the next great tech companies,” says Suleman.
Marbella now hosts 153 nationalities, making it the most diverse Spanish city after Madrid and Barcelona. Nearly a third of its 170,000 residents are foreign-born, and house prices have been on the rise, increasing by 12.9% year-over-year as of January 2025, according to Idealista. This follows four consecutive years of 5% to 7.2% annual growth in the prime market, with prime prices projected to rise 5% this year—second-highest growth in Europe, tied with Madrid, behind Stockholm.
These price hikes are largely due to high-quality renovations and the influx of new, key-ready properties. Notable examples include Epic Marbella, which opened in 2024 in collaboration with Fendi Casa and boasts an apartment owned by Norwegian footballer Erling Haaland. Prices at Epic doubled within two years to €20,000 per square meter, setting a new record for the town. Now, beachfront homes on the Golden Mile are pushing €30,000 per square meter.
In the nearby Design Hills, Dolce & Gabbana’s branded development, set to complete in 2027, offers apartments starting at €5.5m, with one penthouse selling for €20m last year. This area, too, sees high interest from Scandinavians, Dutch buyers, and newcomers from Mexico and Poland—emerging markets for new builds in Marbella, according to Knight Frank. Another major project, UNO, is under development on the final beachfront plot on the Golden Mile, with completion expected in early 2026.
For those like Daniel Shamoon, a hotelier who views Marbella as “the best place to live in Europe,” the town’s appeal lies in its immersion in Andalusia’s rich culture, history, and climate, despite lacking the tax perks of places like Dubai or Miami.
The upcoming end of Spain’s golden visa program is fueling a rush of buyers hoping to secure property before the April deadline. Many are buying quickly at the €500,000 threshold just to obtain the visa, with plans to take their time finding a permanent home.
Marbella is also poised to implement a long-awaited urban plan within the next two years. However, the town’s planning system still operates under an outdated 1986 blueprint, after previous plans were discarded due to corruption linked to former mayor Jesús Gil in the 1990s.
Credit to Financial Times
