The luxury property market in the Costa del Sol’s renowned ‘Golden Triangle’—comprising Marbella, Estepona, and Benahavís—is experiencing sustained growth, with sales increasing steadily in 2024. According to recent data from the DOM3 business association, a total of 8,708 high-end properties were sold last year across these three municipalities, marking a 5.64% increase compared to 2023.
Marbella remains the market leader, accounting for 4,745 transactions, followed by Estepona with 3,162 sales, and Benahavís contributing 801 sales. Ignacio Díaz, director of projects and infrastructures at Marbella town hall, described the figures as “sustained and consistent with responsible growth,” highlighting a balanced market dynamic after several very active years.
While demand remains strong, buyers are becoming more discerning. Javier Nieto, CEO of Pure Living Properties, explained that “buyers are no longer willing to pay overinflated prices. Expectations need to be realistic to maintain a healthy market.” This shift signals a maturing market where quality and value are key.
The luxury property sector continues to attract predominantly international buyers. Christopher Clover, CEO of Panorama Properties, noted that over 90% of their sales involve foreign clients. “Marbella now stands alongside global luxury real estate hubs like Dubai, Miami, and London,” he said. Clover also emphasized Marbella’s unique multicultural community, with approximately 167,000 registered residents, over 55,000 of whom are foreigners representing 152 different nationalities living harmoniously—a rare and attractive feature for international buyers.
The international appeal is evident in the recent figures: Spain recorded a historic 21,525 foreign property buyers in the first quarter of 2025, representing 14.1% of total sales nationwide. In Malaga province, where Marbella is located, the share of foreign buyers rises dramatically to 34.75%, underscoring the ongoing boom in luxury real estate on the Costa del Sol.
With its combination of desirable climate, lifestyle, and cosmopolitan community, the ‘Golden Triangle’ continues to be one of Europe’s most sought-after destinations for luxury homebuyers.
Source: Sur In English, June 2025
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