Eight-figure property deals are becoming increasingly common in Marbella as wealthy international buyers continue to pour money into the ultra-luxury housing market, it has emerged.

Luxury estate agency Drumelia says it has brokered more than 20 sales worth at least €10million each over the past five years.

The transactions had a combined value of almost €430million, putting the average price at more than €20million per property.

The agency’s figures offer a glimpse into Marbella’s rapidly expanding ‘ultraprime’ market, where new villas are increasingly marketed at prices previously reserved for only a handful of exceptional estates.

Demand is being driven by high-net-worth overseas buyers alongside a growing supply of projects aimed at the very top of the international market.

Many purchasers begin the buying process from outside Spain, meaning discretion, trust and the ability to coordinate complex cross-border transactions have become central to closing deals.

‘When we talk about a home costing more than €10million or €20million, the price is only the most visible part,’ said Artur Loginov, CEO and co-owner of Drumelia.

He told Idealista: ‘These are transactions involving trust, discretion, negotiating ability, market knowledge, the professionalism of the estate agent and the coordination of many people.

‘The level of preparation has to match the importance of the financial decision being made by both the buyer and the seller.’

La Zagaleta and Sierra Blanca

The two areas that repeatedly feature in Marbella’s largest property deals are La Zagaleta and Sierra Blanca.

Drumelia says it has participated in more than 20 sales in La Zagaleta alone, worth a combined total of more than €250million.

The gated estate, located in the hills above Benahavis, is renowned for its privacy, large plots, golf courses and heavily restricted access.

Sierra Blanca, situated on Marbella’s Golden Mile, is another of the principal destinations for buyers seeking homes at the top of the market.

Loginov said the limited availability of land, combined with plot sizes, privacy, views and the quality of new developments, is making certain properties increasingly rare.

These factors are also widening the price gap between conventional high-end homes and the small number of estates classified as ultraprime.

The segment relies heavily on private recommendations and established relationships, with some of Marbella’s most expensive homes never reaching public property portals.

Read more Andalucia news at the Spanish Eye.