The Costa del Sol's luxury property market has experienced an extraordinary surge, with investment soaring to €3.2 billion in 2024, marking a remarkable 20% increase compared to the previous year. This exceptional growth has been primarily driven by the region's prestigious "Golden Triangle" of Marbella, Estepona, and Benahavís, which continue to cement their status as premier destinations for high-end property investment.
Marbella leads the way
Marbella stands as the leader of Spain's luxury real estate market, accounting for half of the region's total luxury investments with an impressive €1.6 billion in sales. This magnetic municipality continues to attract discerning buyers seeking exclusivity and sophistication in one of Europe's most coveted locations. Whether drawn by its world-class golf courses, Michelin-starred dining, or pristine beaches, investors recognize the immense value of properties for sale in Marbella as prime assets in one of Europe’s most prestigious real estate markets.
Following closely behind Marbella, Estepona has solidified its position as a premier real estate hotspot, contributing an impressive €800 million to the region’s luxury property investments. This vibrant coastal town continues to attract buyers seeking a balance between modern elegance and traditional Andalusian charm, making properties for sale in Estepona highly desirable.
Meanwhile, the picturesque Benahavís completes the renowned Golden Triangle with €500 million in high-end property transactions. Known for its stunning landscapes, world-class golf courses, and exclusive gated communities, properties for sale in Benahavís offer an exceptional opportunity for those looking to invest in one of Spain’s most prestigious enclaves.
Tech entrepreneurs represent 30% of the luxury buyers
Who's buying?
The Costa del Sol's appeal to international investors remains unwavering, with foreign buyers accounting for 90% of all luxury property purchases in 2024. This international diversity underscores the region's global reputation as a premier luxury destination.
The buyer profile reveals interesting trends about who's investing in the Costa del Sol’s high-end properties:
Tech entrepreneurs lead the charge, representing 30% of luxury buyers
Digital nomads seeking a Mediterranean lifestyle make up 25% of purchases
Elite athletes account for 20% of high-end property acquisitions
Notably, there has been significant growth in investment from American and Middle Eastern buyers.
The Costa del Sol is the third preferred destination for hotel investments in mainland Spain
Beyond residential: the hotel investment boom
The luxury boom extends beyond residential properties. The hotel sector in Málaga province attracted €560 million in investment in 2023, positioning the Costa del Sol as the third most preferred destination for hotel investment in mainland Spain, behind only Madrid and Barcelona.
Foreign investors were particularly active in this segment, accounting for 60% of hotel transactions. Since 2018, the Costa del Sol has attracted approximately €1.88 billion in hotel investment, with 82 hotel transactions involving some 12,000 rooms, further evidence of investors' confidence in the region's long-term growth potential.
The location of the Costa del Sol, with quick and easy access to the rest of Europe, is a driver of growth
What's driving the growth?
Favourable tax policies, including a capped 24% income tax rate for non-EU residents with overseas businesses
Lifestyle appeal combining Mediterranean climate, world-class amenities, and cultural richness
Strategic location with excellent international connectivity
Diverse property options from beachfront villas to mountain retreats
Bright prospects for 2025
Looking ahead to the rest of 2025, Marbella is expected to maintain its position as a worldwide standard of excellence in luxury real estate as the market continues to evolve in cutting-edge innovations, sustainable features, and exceptional exclusivity.
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Costa del Sol Property Investment: 2025 Outlook
Record luxury spending of €3.2 billion in 2024 and a further 11.9 % year-on-year price jump across Marbella, Estepona and Benahavís confirm that the Costa del Sol remains Spain’s premier destination for exclusive property investments. Buyers are not only snapping up beachfront villas; purpose-built hotels for sale on the Costa del Sol and branded residences are also commanding premium valuations.
What makes a costa del sol property investment stand out in 2025?
Strong capital appreciation: Málaga province posted a 13 % average price rise in 2024, triple Spain’s national average.
Consistent rental yields fed by 20 million annual visitors and 320 sunny days.
Pipeline of luxury new developments with ESG credentials attracting UHNWIs.
Seasoned investors now invest in luxury properties on the Costa del Sol not just for lifestyle but for portfolio diversification. From turnkey apartments with concierge to trophy luxury property in Marbella, options abound, yet stock remains scarce—another driver of future gains.
Need tailored advice?
Speak with our real estate investment consulting team to uncover off-market opportunities and tax-efficient structures before they hit the open market. Let us turn your Costa del Sol luxury real estate ambitions into reality.
Find your ideal home with Panorama.
To see the best properties on the market within the Golden Triangle, check out our comprehensive list of homes for sale in Marbella, Estepona, and Benahavís, or better yet, contact our sales team so we can help guide you to your dream home. We’d love to hear from you!
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