From Grace Kelly to Vladimir Putin: The coastal Spanish strip that lures high-profile tourists

For decades, the Costa del Sol has lured cashed-up tourists from Grace Kelly to Vladimir Putin with its mix of sunshine and glamour.

The upmarket stretch of coastline is part of the autonomous community of Spain’s Andalusia in the south of the Iberian Peninsula.

Elena de Miguel of Kristina Szekely Sotheby’s International Realty says Marbella’s Golden Mile is the most sought-after location for buyers seeking holiday homes on the Costa del Sol.

Prestige properties are typically Mediterranean-style villas or apartments in gated communities with resort-style amenities.

“The few recently renovated contemporary properties are in high demand on the Golden Mile beachside and the prices are the highest along the Costa del Sol,” de Miguel says.

The agency is handling the listing for one such estate, set a row back from the beach next to the famous Puente Romano resort in Marbella. Comprising two attached villas and a self-contained apartment, the eight-bedroom property has sprawling gardens, large terraces, a pool and massage room. Tastefully eclectic interiors embrace colour and texture.

It’s on the market for $US30 million or about $43 million.

Current market

Like most holiday home destinations, the Costa del Sol market is at the mercy of broader economic forces. Brexit skittishness is affecting UK buyers and sellers. Belgian, Nordic and German buyers are still strongly represented, with tech and finance entrepreneurs increasingly elbowing out the traditional Brit retiree set. Luxury new developments are also reporting solid sales.

Prices on Marbella’s beachfront are among the highest – and most stable – in Spain, according to de Miguel.

Can Australians buy in?

“Foreigners can easily buy a property in Spain,” de Miguel says.

Typically, a reserve deposit is initially paid to the agent or vendor’s lawyer. The buyer’s lawyer checks the paperwork, then a further deposit is paid and contracts signed. Finally, the outstanding amount is handed over and the deed signed and witnessed by a notary. Non-residents must acquire a government certificate. A 10 per cent tax is levied on luxury properties.

What you can buy for

$13.6 million

Be the king of your own castle in Malaga. Castillo Santa Catalina is made up of a 17th century fort and a 1929 neo-Arabian palace now used as a boutique hotel.

$11.76 million

Soak up panoramic views over the surrounding hills from this rustic-chic residence, which has a heated pool, a gym, a sauna and a Turkish-style steambath.

$7.9 million

Enjoy views of the Marbella coastline from most rooms in this five-bedroom villa set over three storeys. Highlights include a library, pool and extensive terraces.