In most tourist cities, signposts point to historic landmarks. But in Puerto Banús — an upscale district next to Marbella on Spain’s Costa del Sol — they are more likely to direct visitors to Bottega Veneta, Bvlgari, Louis Vuitton and Rolex boutiques, Bloomberg reports.

Luxury yachts line the waterfront, while Ferrari, Lamborghini and Bentley cars cruise through the streets. The district has become one of Europe’s most recognizable symbols of wealth and ostentatious luxury.

Marbella has been attracting affluent foreigners for several decades. In the late 20th century, people from the United Kingdom and Scandinavia moved here in large numbers, buying holiday homes or settling permanently. At the same time, the city gained a controversial reputation because of the presence of foreign criminals hiding from justice, earning the region the nickname “Costa del Crime.”

In recent years, the profile of buyers has changed: entrepreneurs, investors and wealthy families from around the world are increasingly coming here. New luxury residential developments, gated communities and lavish villas are springing up around Marbella, gradually spreading into the surrounding hills.

Today, Marbella is no longer just a resort, but one of Europe’s leading centers for ultra-expensive real estate and international luxury tourism.