Santa Margherita Ligure is one of the charming towns in Liguria, Northern Italy. It's located only a short bus or ferry ride from Portofino.
It has all the features of a coastal Ligurian town, so you can find a beautiful seafront promenade, a large beach, and colourful houses.
It's a town particularly loved by Milanese people, who either own a house here or come here most weekends.
To reach Portofino, you'll have to arrive at Santa Margherita, and since Portofino is quite small, you'll have plenty of time to visit Santa Margherita Ligure as well. It's cheaper than Portofino, so if you plan a long weekend, staying here might be the perfect option for you.
How to reach it: Santa Margherita Ligure is perfectly connected to major cities like Genoa (less than an hour from here) and Milan (about 2/2:30 train).
How many days should you stay: It can be visited within a day, but the best thing is to stay a weekend, so you can also explore nearby towns.
Should you stay here if you want to go to Cinque Terre: There are ferries that take you to Cinque Terre, so it's well-connected. However, it's not very close, and it's probably best to stay in one of the towns or La Spezia for Cinque Terre.
If you stay in Santa Margherita Ligure, I'd focus on nearby towns, which are beautiful as well. These are the towns I'd recommend: Portofino, Abbazia di San Fruttuoso, Camogli, Rapallo, Sestri Levante.