The Costa del Sol continues to be a cornerstone of Spain’s luxury real estate market, as highlighted in The Agency Marbella’s annual report on the luxury real estate market on the Costa del Sol and forecasts for 2025. According to the report, the price of premium homes – those valued above €3 million – on the Málaga coast has risen by 3.7% compared to 2023.
In 2024, the lowest recorded value in the luxury real estate sector was €3 million, for a property located in Casares. Meanwhile, the highest value, found in Benahavís, reached €26.7 million. The average property value in the province of Malaga stood at €5.3 million, with the average price per square metre at €4,200.
Marbella and Benahavís have firmly established themselves as the most exclusive areas in the province. In Marbella, 18% of luxury homes sold in 2024 surpassed €10 million, with the average price reaching €7.4 million and the price per square metre at €12,855.
Meanwhile, in Benahavís, 22% of properties sold last year exceeded €10 million. The average property price in the area was €7 million, with a square metre value of €6,532.
Data in the rest of Spain
According to the real estate agency, the average price of luxury homes across Spain has risen by 4.5%. Leading the ranking is Alicante, with a year-on-year increase of 9.6%, followed by Barcelona at 7.7% and Madrid at 7.5%.
The average price of a luxury home in Spain now stands at €5.2 million, a significant jump from €3.9 million in 2019, the last year before the pandemic.
Luxury buyer profile
Foreign buyers of luxury properties in Spain, particularly on the Costa del Sol, primarily come from Northern Europe (Germany, the United Kingdom and France), the United States and Canada. To a lesser extent, there is also interest from South America, particularly Mexico, Venezuela and Colombia.
The agency categorises investors into two main groups. The first consists of buyers over 50 with high purchasing power, often at the tail end of their careers, seeking properties that provide comfort and privacy for leisure and relaxation. The second group includes younger professionals in their 30s and 40s, who are drawn to modern homes with a strong emphasis on design and technology.
2025 forecasts
The agency anticipates a significant rise in real estate transactions by 2025, driven by lower interest rates and improvements in mortgage conditions. It projects that approximately 825,000 homes will be sold across Spain this year.
The strong demand currently surrounding the real estate market, particularly in the luxury sector, is expected to push prices higher, especially in Marbella. The agency forecasts a 15% increase in demand in the area.
Luxury property investments on the Costa del Sol grow by 20% in 2024
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.
The Costa del Sol leads in towns with the highest rental cost burden
Andalusia is home to four of the ten towns and cities with the highest household effort to rent a home, according to a study published by idealista. The average household income and the cost of housing are the key factors determining the effort a household must make to secure a rental property.
Gaio 7: a new hotel overlooking Santiago de Compostela's Cathedral
Waking up to the majestic Cathedral of Santiago de Compostela right outside your window is possible at the recently opened Hotel Gaio 7. This exclusive boutique hotel, nestled in the heart of the city, offers guests a unique experience, combining historical charm, contemporary design, and – above all – unrivalled views of Galicia’s most iconic monument, the final destination for thousands of pilgrims each year.
Spain sets sights on leadership in luxury tourism
Spain is stepping up its bid in luxury travel by raising service standards in areas like Madrid, Barcelona and Marbella. Spending insights from high‑value visitors are shaping offers that balance economic returns with social value.
House prices in Spain’s wealthiest towns: where the luxury market stands
Based on data from Spain’s Tax Agency, we’ve analysed the latest prices of second-hand homes for sale in the country’s wealthiest municipalities, using statistics from idealista. Leading the pack once again is Pozuelo de Alarcón (Madrid), with an average gross income of €88,011 per year. House prices here reached €4,795/m² at the end of September, making it one of the most expensive towns among the 25 wealthiest, just behind Sitges (€4,833/m²). Below, we also look at the top towns
Green light for Térmica Beach Málaga: exclusive seafront homes begin
Málaga City Council’s Urban Planning Department has given the go-ahead for the first phase of Térmica Beach, the luxury residential development promoted by Ginkgo Advisor and Aedas Homes.
San Sebastián: Spain’s shining new jewel of international luxury
Poised between the rolling green hills of the Basque Country and the sparkling waters of the Bay of Biscay, San Sebastián is quietly redefining luxury living in Spain. Once a well-kept secret among food lovers and surfers, the city has now caught the attention of the world’s most discerning investors—drawn by its blend of culinary excellence, cultural richness, and coastal elegance.