The real estate agency Pure Living Properties has reviewed the performance of the luxury property market in the Costa del Sol’s most exclusive areas, known as the "Golden Triangle" (Marbella, Estepona and Benahavís). According to their analysis, the prime housing market in this region generated €3.2 billion in 2024, marking a 20% increase compared to the previous year.
Marbella leads the way in investment, with a total of €1.6 billion, followed by Estepona at €800 million and Benahavís at €500 million. Additionally, the Finca Cortesín area, often considered an extension of the Golden Triangle, has seen €300 million mobilised in the luxury real estate market this year.
This growth is largely attributed to the influx of new international investors. The real estate agency reports that 90% of transactions in the luxury real estate sector on the Costa del Sol have been conducted by foreign buyers, with a notable presence of investors from the United States and the Middle East.
“The luxury real estate market is experiencing its best period in decades. Marbella, Estepona and Benahavís have established themselves as international destinations, attracting buyers and investors from over 90 nationalities and solidifying their reputation in the high-end property sector,” says Javier Nieto, CEO of Pure Living Properties. He describes 2024 as a “historic year for the sector.”
Record prices in 2024
The agency has reported record prices across the three most sought-after areas of the Costa del Sol. In Marbella, the average price per square metre reached €4,961, while in Benahavís and Estepona, it stood at €4,633/m² and €3,582/m², respectively.
Pure Living Properties also revealed that they have sold properties exceeding €30,000/m² in two of the most exclusive areas on the Málaga coast: Puente Romano and Sierra Blanca.
Nieto notes that sales in Puente Romano have risen by 20%, attributing this to the stabilisation of high prices. “Previously, owners were unwilling to negotiate, but this year they have been more open to discussions, which has reactivated sales activity,” he explained.
The agency also highlighted emerging areas in the western part of the province, such as Casares, where prime properties can reach prices of approximately €10,000/m².
Buyer profile
The report highlights a breakdown of buyer profiles in the Costa del Sol's luxury property market. Young tech investors make up 30% of buyers, leading the segment. Following them are digital nomads, who account for 25% of the total. This trend is driven largely by the rise of remote work and favourable tax policies, such as Spain's fixed 24% income tax rate for non-EU remote workers employed by foreign companies – a rate that can reach 50% in some parts of the European Union.
Elite athletes rank third, representing 20% of buyers, followed by sustainability-focused investors at 15%. Families with high purchasing power round out the list, accounting for 10% of the market.
Forecasts for 2025
Pure Living Properties is optimistic about a "promising" 2025, projecting a 5% to 8% increase in prices in the most established areas. The agency also expects the luxury sector to expand further to the west of the province, with a focus on projects near the beachfront.
“The future of the luxury market on the Costa del Sol is bright. Forecasts for 2025 suggest that Marbella will remain a global benchmark, blending innovation, sustainability and exclusivity to meet the demands of an increasingly discerning market,” concluded the CEO of the agency.
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