The Golden Triangle Strengthens Its Real Estate Market with Over 8,700 Properties Sold in 2024 – Up 5.6%
Premium agencies associated with DOM3 assess the sector’s future in a high-level round table.
The business association DOM3 has held a new professional event confirming the strong performance of the high-end real estate sector on the Costa del Sol. According to data presented by Panorama Properties, Diana Morales Properties and Pure Living Properties, 8,708 properties were sold in 2024 within the Golden Triangle (Marbella, Estepona and Benahavís), representing a 5.64% increase compared to the previous year.
Marbella led in transaction volume with 4,745 sales, followed by Estepona with 3,162 and Benahavís with 801. “These are stable figures, consistent with responsible growth,” noted Ignacio Díaz, Director of Projects and Infrastructure at Marbella Town Hall, who praised the sector’s current development.
The day began with a keynote talk by Miguel Martín, International Director of Training and Product at Bang & Olufsenng-olufsen.com/es/es, sponsor of the event on the occasion of the Danish brand’s 100th anniversary. The session continued with a round table moderated by DOM3 president Charly Simon, featuring Ignacio Díaz (Marbella Town Hall), Javier Nieto (CEO of Pure Living Properties), Christopher Clover (Founder and CEO of Panorama Properties), and Mariano Beristain (Managing Director of Diana Morales Properties).
A Multicultural Destination of International Reference
One of the key topics addressed, in the exclusive setting of Villa Las Tortugas – co-listed by Pure Living Properties and Panorama Properties – was the international profile of buyers. In Q1 2025, Spain registered a record 21,525 foreign property buyers, accounting for 14.1% of all sales. In the province of Málaga, that figure rises to 34.75%, but Marbella’s rate is even more striking.
“At our agency, over 90% of sales are to foreign buyers. Marbella now features in the same breath as Dubai, Miami and London when discussing global luxury property markets,” stated Christopher Clover, CEO of Panorama Properties.
He also highlighted the city’s unique demographic profile: “Marbella is home to nearly 167,000 registered residents, over 55,000 of whom are foreign. It is a truly exceptional community with 152 nationalities living together in harmony. It’s rare to find such a successful multicultural society elsewhere in Europe.”
The Challenge of Pricing and Infrastructure
Javier Nieto, CEO of Pure Living Properties, noted a recent market correction: “After years of fast-paced growth where everything sold, buyers are now more selective and unwilling to pay inflated prices. We must align expectations and keep pricing realistic.”
His view was echoed by Mariano Beristain, Managing Director of Diana Morales Properties: “Vendors have overly ambitious expectations. In many cases, these are not aligned with market reality, which makes negotiations difficult.”
Nonetheless, outlooks remain optimistic. “Marbella has a truly global reach. We’ve sold properties to 45 different nationalities over the last two years,” Clover added.
Urban Planning, Land and Housing – Key Issues for the Future
Addressing urban planning, Ignacio Díaz noted that Marbella has around 9,000 properties yet to be developed, although many depend on the approval of the new General Plan. In Estepona, the margin is significantly greater, which explains the strong growth in new builds.
Díaz also highlighted the Town Hall’s efforts in infrastructure planning for water, energy and telecommunications, although he acknowledged progress is slow: “We are working to ensure long-term sustainable planning.”
Urban Quality, Security and Affordable Housing
The panel also addressed the need to improve infrastructure, public safety and access to affordable housing for key workers. “If we’re the best destination in Europe, we should have the best infrastructure too. We’re not there yet,” said Clover.
Nieto called for more attention to consolidated urbanisations: “We cannot sell €5 million villas on streets with no pavements, no lighting and exposed cabling. Excellence starts with the surroundings.”
Beristain also emphasised the importance of safety in buying decisions: “Many clients choose La Zagaleta purely because of the high level of security it offers.”
All participants agreed that lack of affordable housing is becoming a challenge for the workforce. “If key workers can’t find suitable housing, we’ll soon face difficulties sustaining our local economy,” Clover warned.
This event is part of DOM3’s annual calendar of professional activities, a programme which has recently featured speakers such as Daniela Luque, global LinkedIn Top Voice, and Maribel García, mentor in personal transformation. The association is already working on its next major event: a Real Estate Forum exploring the impact and growth forecasts of the high-end property sector in the Golden Triangle.
