La Dama de Noche and La Alzambra Property Prices 2026: Notarial EUR/m2 at Puerto Banus

In La Dama de Noche and La Alzambra, the registered sale price, what buyers actually paid at the notary, averaged 4,474 EUR/m2 across all property types in June 2026, with apartments at 4,155 EUR/m2 and resale villas at 5,419 EUR/m2 (listyco notarial data, 2026-06, Consejo General del Notariado). New-build villa prices are n/a for the zone this month. Those are real closing prices, not asking prices, which is why they sit below the headline figures buyers see in listings. These two gated communities sit a 10-minute walk from Puerto Banus marina, and their registered figures sit below the marina zone itself while their resale villa stock commands a premium over the apartment stock.

What did property actually sell for in La Dama de Noche and La Alzambra in 2026?

Registered notarial sales averaged 4,474 EUR/m2 across all property types in June 2026: 4,155 EUR/m2 for apartments and 5,419 EUR/m2 for resale villas (listyco notarial data, Consejo General del Notariado). New-build villa data is n/a this month. These are the prices recorded at the notary when a deed is signed, the most reliable public signal of what a home in this Puerto Banus-adjacent zone actually changed hands for.

Property type	Registered price (EUR/m2), La Dama de Noche and La Alzambra, June 2026
All property types	4,474
Apartments	4,155
Resale villas	5,419
New-build villas	n/a

Source: listyco notarial data, 2026-06 (Consejo General del Notariado). New-build villas are n/a because too few registered new-build villa sales fell in the zone this month to report a reliable figure.

What kind of place are La Dama de Noche and La Alzambra and who buys there?

La Dama de Noche and La Alzambra are neighbouring gated residential communities in the upper Puerto Banus area, within the Nueva Andalucia district of Marbella. Both sit roughly a 10-minute walk from the marina basin and the beach, but they sit in the residential streets above the commercial strip, which gives them a quieter, more residential character than the front-line marina blocks. The zone is not a single development but two adjacent urbanizaciones that share the same access road, the same security framework and the same buyer pool.

La Dama de Noche is the larger of the two, a gated apartment-and-townhouse community built around two communal swimming pools, four padel tennis courts and maintained tropical gardens. The stock is primarily apartments and ground-floor units with private terraces, many with garden access, and the community’s 24-hour security is a core selling point. The layout is low-rise, with blocks arranged around the central amenities, and the residential feel is the draw: owners get the Puerto Banus address and walkability without the marina-front noise. A regular urban bus route stops at the main entrance, connecting the community to Marbella centre and San Pedro, which makes the zone genuinely car-optional for daily needs.

La Alzambra sits adjacent to La Dama de Noche and is the more exclusive of the pair. It is a gated community of apartments, penthouses, townhouses and a small number of detached villas, set behind 24-hour security with landscaped gardens, a communal pool, gym and sauna. The Svenska Skolan, the Swedish School of Marbella, is located within the community, which makes La Alzambra a magnet for Scandinavian families who want a secure, walkable environment close to Puerto Banus and an international school on the doorstep. The property mix here leans slightly more upmarket than La Dama de Noche, with a higher proportion of renovated townhouses and villas alongside the apartment blocks.

The buyer profile reflects the position. These communities draw three cohorts. The first is the holiday-home buyer, typically UK, Nordic, Dutch or Middle Eastern, who wants a lock-up-and-leave apartment within walking distance of the marina restaurants, the beach and the Puerto Banus retail district, but with gated security and communal amenities rather than a standalone villa. The second is the Scandinavian family buyer, drawn specifically to La Alzambra by the Swedish School and the secure, child-friendly environment. The third is the investor buyer, who underwrites a purchase against short-term rental demand: Puerto Banus generates some of the strongest seasonal rental occupancy on the Costa del Sol, and a gated apartment with a pool and padel courts in a 10-minute walk of the marina commands premium nightly rates through the season. For the wider Marbella property context, including how this zone fits alongside Nueva Andalucia and the Golden Mile, see the cost of buying guide.

What drives prices in La Dama de Noche and La Alzambra?

Three factors move the EUR/m2 figure up or down here, and reading them is the key to understanding the registered average.

Walkability to Puerto Banus. The core value proposition is location. A 10-minute walk to the marina basin, the beach and the Puerto Banus shopping district is what lifts this zone above the broader Nueva Andalucia residential market. Buyers pay for proximity to the marina without the marina-front price tag, and the registered apartment figure of 4,155 EUR/m2 captures this premium relative to golf-valley apartments further inland. The distance is walkable but not waterfront, which is the precise sweet spot for buyers who want the Puerto Banus lifestyle without the front-line cost.

Gated security and community amenities. Both communities operate 24-hour security, which is a structural price driver in the Marbella market. La Dama de Noche’s padel courts, two pools and gardens, and La Alzambra’s gym, sauna and landscaped grounds add a service-layer premium that ungated apartment complexes in the area do not carry. The security also makes the zone attractive to families and to owners who use the property intermittently, because the gated perimeter reduces the management burden of a holiday home. The resale villa figure of 5,419 EUR/m2 reflects the townhouse and detached-villa stock within La Alzambra specifically, where the gated-community setting amplifies the per-square-metre value of larger units.

Supply constraints and the built-out market. Both communities are largely built out, which means new supply arrives only through renovation or the rare off-plan project. This is why the new-build villa figure is n/a: there are too few registered new-build villa transactions to report a reliable price. The constrained supply keeps prices firm on the resale side because demand for gated, walkable, secure property near Puerto Banus consistently exceeds the trickle of stock that comes to market. A buyer here is purchasing into a fixed-supply position, not a growth corridor.

How do La Dama de Noche and La Alzambra compare to their neighbours?

The zone sits at a specific geographic and economic position within the Marbella market, and the registered data makes the relationships clear.

To the south, the Puerto Banus marina zone registers above La Dama de Noche and La Alzambra on the same notarial measure (listyco notarial data, 2026-06, Consejo General del Notariado). The marina-front stock carries the waterfront premium that the gated communities do not, and the apartment-led mix at the basin trades at a higher per-square-metre figure. A buyer choosing between the two weighs the marina-front immediacy against the gated residential calm: the marina offers walk-out-the-door nightlife and quay views, while La Dama de Noche and La Alzambra offer a 10-minute walk to the same amenities but with security, pools, padel courts and a quieter street.

To the north and west, Nueva Andalucia’s Golf Valley offers the golf-course alternative. Nueva Andalucia is the broader residential district that contains both La Dama de Noche and La Alzambra, but its golf-valley core sits further from the marina, with villas and townhouses clustered around courses like Los Naranjos, Las Brisas and Aloha. Buyers who prioritise golf access and larger plots over marina walkability tend to choose the golf-valley core; those who want the Puerto Banus address and walkability stay in the gated communities. The registered figures reflect the distance gradient: the closer to the marina, the higher the per-square-metre figure, all else being equal.

To the east, the Marbella Golden Mile offers a different proposition: the established beachfront strip running from the Puente Romano and Marbella Club hotels towards Marbella centre. The Golden Mile carries the hotel-adjacent luxury premium and a heavier villa weighting than the Puerto Banus gated communities. A buyer weighing the Golden Mile against La Dama de Noche is trading marina proximity for hotel-district prestige, and the registered data lets the buyer see the actual price step rather than the asking-price impression.

For a different Marbella zone comparison, Sierra Blanca offers the gated hillside villa alternative further inland, and the Marbesa post covers the eastern Marbella beachfront. Each draws a different buyer and prices differently on the same notarial measure.

Why are registered prices lower than asking prices and valuation estimates?

Registered notarial prices sit below both asking prices and valuation estimates because they capture every signed deed across the full transaction mix, including older resales, transfers and estate sales, rather than the prime, newly listed stock that drives the headlines. A model estimate from listyco market-stats places current valuations for the La Dama de Noche pocket around 10,494 EUR/m2 (model estimate, not a sale price), with high confidence across 5 property valuations. A separate model estimate for the La Alzambra pocket places valuations around 9,342 EUR/m2 (model estimate, not a sale price), with high confidence across 8 valuations. Asking prices on portals run higher still (asking, not closing). The 4,474 EUR/m2 registered average is the figure that reflects completed sales.

The two numbers answer different questions. The notarial figure tells you what closed; the model estimate gauges current value across the standing housing stock. Read together they form an honest range: what sellers ask, what the stock is estimated to be worth, and what actually sold. The gap between the registered average and the model estimates in this zone is wider than in most Marbella areas, which reflects how much the Puerto Banus address and the gated-community premium inflate asking expectations relative to what closes at the notary.

For Marbella-wide context, Tinsa’s IMIE Mercados Locales index put the average finished-housing price in Marbella at 3,641 EUR/m2 in Q1 2026, up 20.53 percent year on year, against a national average of 14.5 percent and an Andalusia average of 10.3 percent (Tinsa). The broader Tinsa IMIE index for Q2 2026 recorded a 15.2 percent year-on-year increase nationally, the highest rate since Q3 2006 (Tinsa, IMIE Mercados Locales, Q2 2026). That Marbella-wide figure spans the whole municipality, including lower-priced inland districts, which is why it falls below the zone-specific registered average for La Dama de Noche and La Alzambra.

How should a buyer read these numbers?

Anchor your negotiation to the 4,474 EUR/m2 registered average: it is what comparable homes actually closed at. Treat asking prices as the seller’s opening bid and model estimates as a valuation guide for the standing stock. A buyer who starts from the registered figure, then adjusts upward for a renovated interior, a larger terrace, a garden-facing ground-floor unit or a townhouse with a private pool, works from what the market did rather than what it hopes to do. The n/a on new-build villas does not mean new villas are cheap; it means the new-build market here is too thin to benchmark, so any new-build price you encounter is a one-off asking price rather than a comparable registered sale.

For the rental yield picture, La Dama de Noche and La Alzambra’s gated apartments command premium seasonal rents because the proximity to Puerto Banus and the community amenities support strong short-term occupancy, which matters for buyers weighing a part-let strategy. And for the full acquisition-cost breakdown, including the 7 per cent Andalusian ITP on resales and 10 per cent IVA on new-build, see the cost of buying guide. La Dama de Noche and La Alzambra reward buyers who understand the walkability premium, the gated-security premium and the gap between asking and closing, and the registered notarial data is the cleanest way to see it.