Luxury real estate market in Marbella: analysis, trends and opportunities

One of the key elements of Marbella’s real estate market is the profile of its demand. According to luxury market data, around 95% of property purchases above €3 million are made by foreign buyers. In addition, more than 90% of high-end transactions are completed in cash, reflecting the market’s financial strength.

Marbella welcomes residents from more than 152 nationalities, reinforcing its cosmopolitan character. This is further supported by the expansion of Málaga International Airport—one of the most important in Spain—and a wide range of international schools, private clinics and high-level services, decisive factors for families and wealth buyers.

From a tax perspective, Andalusia offers an especially attractive environment, with very favourable exemptions on inheritance tax and the absence of wealth tax, encouraging the relocation of large international estates.

The luxury real estate market in Marbella is structured around highly exclusive micro-markets, each with a very defined identity. Among the most sought-after areas are:

• Golden Mile, considered the city’s most prestigious address
• Sierra Blanca and Cascada de Camoján, for panoramic views and privacy
• La Zagaleta, one of Europe’s most exclusive private estates
• Nueva Andalucía (Golf Valley), ideal for families and golf lovers

These areas concentrate most of the premium demand and present a limited supply, which reinforces their appeal as a long-term real estate investment.

Among the most in-demand products in Marbella’s real estate market are:

Contemporary luxury villas, located in gated communities, with large plots, open views of the sea and mountains, and private wellness services

Beachfront penthouses and apartments, especially on the Golden Mile, with panoramic terraces and direct access to the sea

Renovated Andalusian fincas, combining traditional architecture with modern comfort and technology

These typologies respond to an international demand that prioritises privacy, construction quality and lifestyle.

The profile of the luxury buyer in Marbella has evolved notably. Approximately 50% of transactions above €3 million correspond to younger-generation buyers, such as international entrepreneurs, digital profiles and active families.

This new buyer particularly values smart homes, sustainability, wellness spaces and properties adapted to a flexible lifestyle combining residence and remote work.

In Marbella’s prime areas, luxury real estate prices are around €10,000/m², reaching exceptional figures of up to €20,000/m² in ultra-prime locations. In very exclusive enclaves, some properties even exceed €30,000/m².

Marbella’s ultra-luxury segment recorded growth of 4.5% between 2023 and 2024, driven by strong international demand and limited supply in the most exclusive areas.

Beyond real estate, Marbella is experiencing a clear uplift in hospitality, gastronomy and international events. The arrival of branded hotels, managed residences and internationally renowned restaurants reinforces its appeal as a year-round residential destination.

This lifestyle ecosystem makes Marbella much more than a real estate location: it is a lifestyle choice.

The luxury real estate market in Marbella is characterised by stability, maturity and international projection. The combination of global demand, limited supply, a competitive tax environment and quality of life positions Marbella as a strategic destination for long-term wealth investment.

BARNES Marbella supports its clients with an expert and global vision, offering access to exceptional properties and advice aligned with the highest international standards.