The luxury property market in Andalusia is on the up, driven by two main factors: the momentum of the region’s cities and continued interest in the coast. Combined with limited supply and strong international demand, which is becoming increasingly diverse, this has put southern Spain firmly in the spotlight within the country’s premium market.
An analysis by luxury estate agency Engel & Völkers, based on data collected during transactions completed last year, confirms the trend. Three locations stand above the rest, thanks largely to the exclusive Costa del Sol.
The Costa del Sol remains the ‘crown jewel’
The title of ‘crown jewel’ belongs to Málaga, which has cemented its position as one of Spain’s most resilient property markets. That is not solely down to the exclusive Costa del Sol, but also to several high-end neighbourhoods close to the city centre.
One standout area is Pacífico, where major developers such as Metrovacesa, Aedas and Sierra Blanca are building exclusive residential schemes. These projects have pushed average prices for luxury homes in the neighbourhood to €9,130/m², making it one of the most expensive locations in the province.
Elsewhere in Málaga municipality, neighbourhoods such as La Malagueta, El Limonar, Cerrado de Calderón and the city centre itself have prices of roughly €5,000 to €6,000 per m².
On the Costa del Sol, better known as the ‘Golden Triangle’ made up of Marbella, Benahavís and Estepona, prices sit between €6,000 and €9,000 per m². In the exclusive Sierra Blanca area, figures can reach almost €13,000 per m².
By contrast, locations such as La Cala de Mijas and Puerto Marina still offer average prices below €5,000/m². Despite their prime settings and strong demand, they remain comparatively accessible within an increasingly expensive market.
According to the report, foreign buyers account for more than 70% of completed transactions on the Costa del Sol. British, German and Scandinavian purchasers remain the most active international groups, while interest from US buyers continues to grow.
The agency has also observed a shift in buyer profiles. Increasingly, international families are choosing the Costa del Sol not solely as a luxury destination, but as a place to establish a lifestyle centred on climate, services and quality of life.
Seville: from the centre to the outskirts
Seville sits in the next tier.
- The most central parts of the Andalusian capital show a clear hierarchy between neighbourhoods, with the Santa Cruz-Alfalfa area approaching an average price of €7,000 per m².
- A second group includes Plaza de la Gavidia-San Lorenzo, San Vicente and Plaza de Cuba–República Argentina, where prices exceed €5,000 per m².
Unlike Málaga, replacement demand, local buyers and growing investor interest are keeping Seville’s market on an upward path. New-build homes are absorbing demand from people buying their main residence.
Tarifa, Cádiz’s property market favourite
Cádiz and its province are also holding firm, with average prices of around €2,500 per m². Premium coastal areas such as La Alcaidesa have recorded highs above €8,000 per m², while Tarifa has reached figures of up to €8,500 per m².
The Cádiz market is still mainly supported by domestic demand, although international buyers are playing a growing part in the second-home market.
The most sought-after municipalities include Sanlúcar de Barrameda, El Puerto de Santa María, Chiclana and Conil de la Frontera, where prices exceed €3,200 per m² and can rise above €3,400 per m² in the most exclusive areas.
New builds are driving growth
According to Engel & Völkers, the new-build segment has become one of the main forces behind growth in Andalusia’s property market. In Seville and Málaga city, developments aimed at main-residence buyers account for much of the activity. Along the coast, higher-value homes aimed at international buyers and second-home purchasers are becoming more prominent.
The report also points to the rise of branded residences and premium developments linked to wellness and hospitality services, particularly on the Costa del Sol. This is helping strengthen Andalusia’s international position in the luxury residential market.
