Marbella has firmly established itself as the epicentre of luxury real estate in Europe. The valuation and consultancy firm Tecnitasa has released a report revealing a 4.5% growth in the prime property market this year compared to 2023.
The study also suggests that the rising interest in luxury real estate along the Malaga coast is largely driven by international investors, particularly from the United Kingdom, Germany and the United States, who possess substantial purchasing power.
According to the report, the most coveted properties are those located on the beachfront, with prices ranging between €3 million and €17 million and a cost per square metre surpassing €7,300.
Several factors contribute to the success of this market: the Costa del Sol’s favourable climate, a diverse array of services and leisure options, and, most importantly, the sought-after beachfront location.
The prime luxury areas in Marbella, such as the Golden Mile, Sierra Blanca and Cascada de Camoján, are experiencing a significant real estate shortage, with demand significantly outstripping supply, as noted by the company.
Homerun Brokers: "15% of Marbella property transactions exceed €1 m"
Marbella is Spain's capital of glamour and exclusivity. It boasts the country's most expensive properties and is home to numerous estate agents specialising in luxury properties, driven by high demand for this market.
Spain's Golden Triangle shines: Marbella leads the luxury housing revival
The COVID-19 pandemic brought an unprecedented transformation in the working and living habits of millions worldwide. The adoption of remote working and the freedom to detach from physical offices opened new opportunities for those seeking a higher quality of life. Marbella, located on the Costa del Sol, quickly became a favourite destination, attracting international buyers and investors who saw the region as an ideal place to settle and work remotely.