Marbella & Spain Property News

Costa del Sol luxury property market soars to over 3.2 billion euros in 2024

The Costa del Sol’s luxury property market has seen an extraordinary surge, with investments of €3.2 billion in 2024.

Written by Carolina Alaniz

· 3 min. read

Costa del Sol luxury property market

The Golden Triangle shines in a record-breaking year for luxury real estate on the Costa del Sol

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.

Yacht sailing on the Costa del Sol seen from a sea viewpoint. The Golden Triangle

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
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
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
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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Sources

Euroweekly News:
Luxury property market in Costa del Sol sees massive 20% investment increase to over 3.2 billion euros

Written by
Carolina Alaniz - Support Team Director - Panorama
Carolina Alaniz Support Team Director

Ensures smooth operations at Panorama with unmatched organisation and enthusiasm.

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