Marbella leads luxury real‑estate market with strong price growth in 2025
The Costa del Sol’s “Triángulo de Oro” – Marbella, Estepona and Benahavís – entered a period of normalisation in 2025, recording 8,540 residential transactions. Marbella accounted for 51.3% of sales (4,379 deals), while prices per square metre rose to €4,424, an increase of about 7.7% year‑on‑year. Overall transaction volume fell roughly 4.5% from the previous year, reflecting a more selective, disciplined buyer base.
The Prime International Residential Index (PIRI 100) showed the value of prime residential property in Marbella rose 8.1% in 2025, far outpacing the global luxury‑market average of 3.2%. Buyers are increasingly treating Marbella purchases as multigenerational refuge assets rather than short‑term speculative investments. International demand remains broad, with prominent buyers from the United Kingdom, Sweden, the Netherlands, Poland, Germany, North America, the Middle East and Eastern Europe. Limited stock and scarce developable land continue to push prices upward, especially in the prime segment.