The estate agency Pure Living Properties has analysed the luxury property sector in the most exclusive areas of the Costa del Sol (province of Málaga), which form the famous “Golden Triangle” (Marbella, Estepona and Benahavís). According to the agency, investment in luxury homes here reached €3.2 billion in 2024, 20% more than the previous year.
The most money went into Marbella, €1.6 billion, followed by Estepona (€800 million) and Benahavís (€500 million). To this should be added the Finca Cortesín area, where investment in the luxury property market reached €300 million this year.
This growth is mainly driven by the arrival of new foreign investors. Representatives of Pure Living Properties say that 90% of deals in this sector on the Costa del Sol involved foreigners, especially from the USA and the Middle East.
The local luxury property market is enjoying its best moment in decades. Marbella, Estepona and Benahavís have established themselves as international destinations that attract buyers and investors of more than 90 nationalities.
The agency also recorded record prices in the three most sought-after areas of the Costa del Sol. In Marbella the price per square metre averaged €4,961, and in Benahavís and Estepona €4,633 and €3,582 respectively. In the two most exclusive areas of the Málaga coast, Puente Romano and Sierra Blanca, properties were sold at more than €30,000/m². In up-and-coming areas in the west of the province, such as Casares, top-end homes can cost up to €10,000/m².
About 30% of luxury property buyers on the Costa del Sol are young tech investors, and in second place (25%) are “digital nomads”. This is mainly due to the growing number of remote workers and the tax benefits available to them. In particular, “digital nomads” from outside the EU who work for foreign companies can live in Spain with a flat tax rate of 24% on their income, whereas in other EU countries the rate can reach 50%.
They are followed by professional athletes, 20% of all buyers, investors in the “green” economy (15%) and, finally, high-net-worth families (10%).
Pure Living Properties forecasts a “promising” 2025, with prices rising by 5-8% in the most popular areas. The company also expects the luxury sector to expand towards the west of the province, but through developments located close to the coastline.
