Apartment in Costa del Sol

Banús in August is the photograph everyone has seen; Banús in October is something else — long lunches at the port, half the tables, double the regulars. The apartment market here splits cleanly along that axis. Properties within walking distance of the marina hold their value defensively and resell quickly when they come up, because demand is structural rather than seasonal. Side streets one or two blocks back offer the same address at a measurably softer entry point. The stock ranges from 1970s blocks that have been continuously refurbished to newer infill apartments and trophy penthouses inside the marina complex itself. Buyers tend to come in with a clear postcode in mind before they look at floor plans.

Marbella’s most-watched sub-market — frontline marina property holds its value through cycles; the quieter side streets are how local buyers get into the postcode for noticeably less.