Live the luxury life in Marbella. Pacaso offers a new way to buy a home in the Spanish sun
Pacaso, the revolutionary global second home ownership platform, has launched in Marbella, Spain. Established in the US in 2020 to make holiday home ownership more efficient, Pacaso launched its first destination outside of the States in Marbella in November 2021, and the company now operates in more than 35 global destinations. Pacaso launched in the UK earlier this year with a three-bedroom penthouse on Queen Street in Mayfair.
Marbella with its great climate, old world style glamour and celebrity vibe has long been a favourite for second homes and the area has some impressive villas. Now Pacaso plans to transform the second home market in Marbella and wider Europe with its unique co-ownership model, making high-end holiday homes more accessible and enjoyable for those looking for a high end place in the sun.
The Villas
Villa Vida is a breathtaking house, a stunning piece of modern architecture which combines luxury with clean lines and bright, open spaces, drawing inspiration from contemporary California living as well as the local pueblo blanco traditional style. The property is arranged over three levels. Above, an upper storey comprising a main bedroom with bathroom including free-standing bathtub, along with an exclusive sundeck, and two further bedrooms with floor-to-ceiling French windows which give onto a wide terrace with stunning views. Below this, there is a main storey with open plan great room, comprising kitchen, dining and lounging areas, all opening onto a spacious outdoor living area and pool. The kitchen is sleekly finished to the highest specifications, including a stunning all-marble central work/breakfast island. Underneath, there’s a large family room and, tucked away at the back, two more bedrooms with a bath, perfect for children or guests.
Outside you’ll find a diverse array of spaces: up top, a roof terrace set up for al fresco dining, along with a hot tub; another ample terrace on the bedroom level; on the main floor, an enticing infinity pool with plenty of surrounding space for sunning, eating and lounging; and further down, two tiers of immaculate private gardens, cascading elegantly down the hillside, all offering unparalleled views over Mount Concha and the Golf Valley
Villa Vida Price: $667,865 • 1/8 Ownership Whole Home Price: $3,902,345 Location: Avenida Del Generalife, 53, Marbella, Málaga
Villa Aire is another exquisite property located in Aloha, an exclusive community in the prime Nueva Andalucía area. This contemporary villa has been built to the highest standards, offering the ultimate Marbella lifestyle with beautiful spaces for indoor-outdoor living. The villa incorporates luxury, open interior spaces, entertainment, and outdoor relaxation areas, and is near desirable Marbella amenities including lively bars, coffee shops, restaurants, shops and supermarkets are close by. An impressive hallway welcomes you into a spacious and open-plan living area, with high-quality finishes and chic interiors. The airy living spaces feature double-height ceilings, floor-to-ceiling windows, access to expansive terraces, a fireplace and spectacular interior design. The primary bedroom offers the comfort of a luxury hotel, with epic views to the gardens, La Concha mountain and the Golf Valley. The basement level includes a spacious playroom with billiard table, entertainment area and gym.
Villa Aire Price: $832,924•1/8 Ownership Whole Home Price: $4,958,460 Location: Av. Valle Del Golf 138, Marbella, Málaga 29660
How the scheme works
Pacaso is pioneering a new category of real estate, called co-ownership. Pacaso curates luxury listings in top second home destinations around the world and offers buyers ⅛ to ½ ownership. Founded by former Zillow executives Austin Allison and Spencer Rascoff. Pacaso has secured more than $215 million in growth financing. Through Pacaso you can buy from 1/8 to 1/2 of a home. The amount of time you can use it directly corresponds with your purchase i.e. six months of the year for 1/2 of ownership and it’s just like a normal property purchase – you can sell your Pacaso, either through the app platform, or on the open market at any time. Co-owning a home is a growing trend and represents a more responsible ownership model helping families purchase and enjoy their property. The average second home is used just 11% of the year compared to the average Pacaso home which is occupied nearly 90% of the year All homes are sold fully furnished, outfitted with high-end contemporary interior design and premium amenities. After the home is sold, Pacaso supports owners as a local property manager and retains no ownership in the home
Co-owning a home can be completely hassle-free as everything from financing the purchase to furnishings are managed by Pacaso. And every listing comes fully outfitted, from spices in the kitchen to exercise equipment. There is zero maintenance as all the maintenance and home management is taken care of so buyers can focus on enjoyment of the home. For example, families have custom made lock-up rooms if they want to leave their belongings there. Many buyers would prefer to spend a proportion of the cost for a home relative to usage throughout the year/The resale process is seamless. Pacaso has created a marketplace for co-ownership, making it very easy for owners to sell their unit on the open market (for a price of their choosing), and on average Pacaso listings resell within 12 days with a 12% increase on an annual basis.
Marbella Lifestyle
With its sophisticated clubs, luxurious hotels and world class golf courses Marbella’s celebrity vibe dates back to the 1950s when European royalty and Hollywood stars started holidaying here. It still draws an upmarket clientele but with new Michelin starred restaurants, quirky boutique hotels and chic nightclubs Marbella is attracting a new generation of sun and party lovers.
There are 24 beaches in Marbella but a stroll along the palm fringed Avenida del Mar is the best way to experience beach life here. Stop at one of the lively beach bars, or chiringuitos such as Cappuccino with a club like atmosphere, great views and good food I discovered Marbella best churros at San Gines,a chocolate shop in Plaza Africa. Don’t miss the Dali sculptures at the Plaza de La Alameda.
It is about a 40 minute walk from here to the bling of Puerto Banus with its exclusive marina and designer shops or you can reach it by a short ferry ride across the bay.
Old Town
Old Marbella Town is said to be one of the most authentic Spanish towns with its unspoilt whitewashed Moorish architecture, cobbled streets packed with colourful shops and pretty churches.
Dine
The gastronomic scene in Marbella continues to make news. Michelin chef and Marbella boy Dani Garcia has opened Babette, a French influenced restaurant where there is currently a waiting list for a table. I was lucky enough to get a seat at his other flagship diner, Lena, described as one of the most beautiful restaurants in the world. The glitzy toilets alone are worth the trip. This steakhouse is surprising – expect to be presented with a choice of knives from an impressive collection and have your steak minced in front of your eyes before being kneaded into a burger.
Nobu Restaurant Marbella is found close by, serving it’s much loved signature dishes. It was opened by Robert de Niro in 2018
Don’t miss a visit to The Marbella Cub- something of an Andalusian institution and loved by ex-pats and playboys alike, it is glamorous and eclectic with unusual furnishings and artwork inside and heavenly terraces outside.
Sport
The area has long been known as the Costa del Golf, and the sport is still king here. There are over 35 courses between Marbella and Gibraltar and Barak Obama was seen recently teeing off. Marbella Golf Club and La Quinta Golf and Country Club are among the most prestigious clubs.
But Marbella is now equally famed for tennis tourism, with several clubs catering for all ages and abilities such as the Royal Tennis Club Marbella. On the water, you can charter a luxury motor cruiser or yacht from one of the three ports or try jet-skiing, windsurfing or diving. Marbella is overlooked by the beautiful La Concha Mountain and nature lovers head to the hills for an exhilarating climb and some great photo opportunities.
For more details, visit the Pacaso website