The Costa del Sol continues to solidify its reputation as a premier destination for luxury real estate, with investments in high-end properties soaring by 20% in 2024. This surge has brought the total investment in the region’s luxury residential market to an impressive €3.2 billion, reinforcing its appeal to international buyers and investors.
A Breakdown of the Boom Marbella remains the crown jewel of the Costa del Sol, attracting €1.6 billion in luxury real estate investments. Estepona follows with €800 million, while Benahavís has secured €500 million. The Finca Cortesín area, known for its exclusivity and world-class golf, has also seen a significant €300 million influx. These figures highlight the region’s status as one of Europe’s most desirable real estate markets.
What’s Driving This Growth? Several key factors have contributed to the Costa del Sol’s record-breaking performance in the luxury property sector:
· International Demand at an All-Time High: An astounding 90% of luxury home purchases in the region have been made by foreign buyers. Traditionally popular among European investors, the market has recently seen a growing presence of buyers from the United States and the Middle East, further diversifying the investment landscape.
· Changing Buyer Profiles: The luxury market is evolving, with young tech investors now accounting for 30% of buyers. Digital nomads, drawn by Spain’s favourable tax policies and remote work culture, make up 25%. Elite athletes (20%), sustainability-focused investors (15%), and high-net-worth families (10%) are also fuelling demand.
· Rising Property Prices: The average price per square metre in Marbella has climbed to €4,961, with Benahavís reaching €4,633 and Estepona at €3,582. In highly sought-after locations like Puente Romano and Sierra Blanca, prices have surpassed €30,000 per square metre, setting new records for the region.
Emerging Investment Hotspots While Marbella, Estepona, and Benahavís continue to dominate, new luxury property hotspots are emerging along the coast. Casares, known for its pristine beaches and luxury developments, has seen property prices approach €10,000 per square metre, making it a rising star in the high-end market.
What’s Next for the Costa del Sol? Looking ahead to 2025, the market shows no signs of slowing down:
· Property values in prime areas are projected to increase by another 5% to 8%. · The westward expansion of luxury real estate developments is set to introduce new beachfront projects, offering a blend of innovation, sustainability, and exclusivity.
Invest in Costa del Sol’s Luxury Market With luxury property investments soaring, now is the perfect time to secure your dream home or next great investment. At Marbella Hills Homes, we specialise in finding exclusive properties in Marbella, Estepona, and Benahavís. Let our expert team guide you to the finest opportunities in this thriving market. Contact us today to start your journey!
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