Luxury Property Sales Surge in Costa del Sol’s ‘Golden Triangle’
The luxury real estate market in the Costa del Sol’s renowned “Golden Triangle”—comprising Marbella, Estepona, and Benahavís—continues to thrive, with sales showing steady growth in 2024. According to recent figures from a study by the DOM3 business association, a total of 8,708 homes were sold in the area, marking a 5.64% increase compared to the previous year.
Marbella leads the market with 4,745 property transactions, followed by Estepona with 3,162 sales, and Benahavís with 801. “These numbers reflect steady and sustainable growth,” noted Ignacio Díaz, director of projects and infrastructure at Marbella Town Hall.
Despite a slower pace than previous years, where “everything was selling,” industry professionals highlight a shift in buyer behavior. Javier Nieto, CEO of Pure Living Properties, commented, “Today’s buyers are more discerning and unwilling to pay inflated prices. It’s essential that we align expectations with realistic market values.”
International Demand Drives Market
Luxury homebuyers in the region are predominantly international. Christopher Clover, CEO of Panorama Properties, revealed, “Over 90% of our sales are to foreign buyers. Marbella has joined the ranks of global luxury destinations like Dubai, Miami, and London.”
Clover also emphasized Marbella’s unique global appeal. “Out of approximately 167,000 registered residents, over 55,000 are foreign nationals. It’s an extraordinary multicultural community representing 152 nationalities, living in harmony—a rarity in Europe.”
Panorama Properties alone has sold homes to buyers from 45 different countries over the past two years. Nationwide, Spain registered a record 21,525 foreign homebuyers in the first quarter of 2025, accounting for 14.1% of all purchases. In Málaga province, that figure soars to 34.75%, further underscoring the ongoing boom in the Costa del Sol’s luxury property market.
