The Costa del Sol cements its status as a safe haven for real estate investment amid global uncertainty, with property prices reaching an all-time high.

Against a global backdrop of geopolitical tensions, prolonged conflicts and political polarisation in major economies, the Costa del Sol—particularly the Golden Triangle formed by Marbella, Estepona and Benahavís—has strengthened its appeal as a stable and highly desirable destination for international high-end property investment, with all three municipalities reaching record-high property prices.

In contrast to other European markets affected by uncertainty, where housing demand has seen a sharp decline in recent months, the Costa del Sol offers economic stability, legal security, exceptional natural surroundings, international connectivity, and a Mediterranean lifestyle. In addition, its favourable tax environment and consolidated international community further enhance its global appeal.

The Association of Entrepreneurs for High-End Housing, DOM3, highlights the importance of distinguishing the luxury property market from the local first-home sector: “We are talking about two completely different realities, both in terms of the product and the buyer profile,” explains Manuel Burgos, Head of Institutional Relations at the association. “This distinction precisely prevents foreign investment from competing directly with local demand, and allows for specific strategies to be tailored to each segment.”

 Along the same lines, DOM3 President Charly Simon explains that “investment in high-quality housing on the Costa del Sol has become a strategic decision for many international buyers looking to protect their wealth in an uncertain global context.” He adds, “Investing in the Costa del Sol goes beyond acquiring an attractive property—it's about investing in security, quality of life, and a destination that inspires trust, even during turbulent times like those we've experienced in recent months.”

This is a trend DOM3 member companies have been observing since the beginning of the year—and the data now backs it up. According to figures from the College of Registrars of Spain, 34.75% of all property sales in the province of Málaga during the first quarter of 2025 were made by foreign buyers. In the Golden Triangle, that figure exceeds 90% in the premium segment. 

Record-breaking figures at the airport

 On another note, Málaga-Costa del Sol Airport has broken records, registering 12.39 million passengers in the first half of 2025 (+7.8% year-on-year) and 2.63 million in June alone (+8.2%), making it the busiest June in the airport’s history. “This figure is particularly striking considering that hotels on the Costa del Sol are seeing a drop in occupancy rates despite the increase in passenger numbers, which suggests that many of these travellers are now staying in homes—whether owned or rented—often as a first step toward investment,” explained the president.

As DOM3 had previously reported, 8,708 properties were sold in the Golden Triangle in 2024, a 5.64% increase compared to the previous year. When it comes to prices, according to data from Idealista, all three municipalities hit historic highs in June. Marbella leads the ranking with an average price of €5,213/m² (+8.3% vs. 2024), surpassing even cities like Palma de Mallorca (€4,996/m²) and Madrid (€4,289/m²). Close behind is Benahavís, with €5,071/m² and a year-on-year increase of 13.2%. Estepona ranks third, with an average of €3,906/m², up 14.9% compared to the same period last year.

These figures are particularly significant when considering that the average property price across Spain in June was €2,438/m² (+14% vs. 2024), while in Andalusia, the figure rose to €2,518/m² (+15% year-on-year). “The property market on the Costa del Sol—especially within the Golden Triangle—operates on a completely different scale from the rest of the country. That’s why DOM3 continues to call on public administrations to take this reality into account, something we as entrepreneurs have been aware of for decades,” stressed Charly Simon.

This view is supported by the latest report from Tinsa, which highlights a 2.5% increase in coastal property sales to foreign buyers in Spain. The report names Málaga as the second most in-demand coastal province among international buyers, behind only Alicante and ahead of both Barcelona and the Balearic Islands. Last year, foreign buyers along the Spanish coast came mainly from the UK (8.6%), Germany (6.7%), Morocco (5.7%), France (5.4%), and the Netherlands (5.3%), among more than a dozen nationalities. According to data gathered by DOM3 member companies, recent months have seen a notable increase in demand from American, Norwegian, Danish, Swedish, Belgian, Ukrainian and Polish buyers on the Costa del Sol.

Balance and sustainability: the great challenge

 DOM3 believes that this growth must go hand in hand with responsibility in order to avoid additional pressure on prices. “The challenge lies in maintaining the quality of the offering without giving in to speculation,” warned the president. “We must commit to sustainable growth, with high standards for design, urban planning and respect for the environment.”

In this regard, business leaders once again stress the need to strengthen infrastructure, improve mobility, and ensure access to affordable housing—both for professionals in the sector and for the wider community. These are key factors in sustaining a robust economic ecosystem around the premium property market, which has become one of the main economic drivers of the western Costa del Sol.