The Golden Triangle of Costa del Sol 2025: Stable Growth, Strong Demand, and Luxury with Vision
The Golden Triangle of Costa del Sol – comprising Marbella, Benahavís, and Estepona – once again confirms that luxury is thriving here. The latest data published by DOM3 and institutions such as Banco de España, INE, and Fitch Ratings confirm that we are witnessing sustainable yet significant growth.
Impressive Growth Rates
Among the three municipalities, Estepona leads with an impressive growth of 15%, thanks in part to intensive development of new investments and land availability. Benahavís records +10.8%, while Marbella – more “mature” in terms of investment – grows by 9.8%.
Looking deeper, there are areas where the dynamics are truly surprising:
- Marbella:
- Elviria–Cabopino: +22.4%
- Las Chapas–El Rosario: +14.1%
- San Pedro Alcántara: +13.9%
- Estepona:
- Playa Bahía Dorada: +28.3%
- Estepona Pueblo and Selwo: +23–21.8%
- Benahavís:
- Los Flamingos: +21%
- La Zagaleta El Madroñal: +18.6%
- El Paraíso: +17.7%
These are not just statistics. Regularly visiting some of the mentioned locations, it’s easy to notice real signs of market activity: new developments are sprouting up rapidly, and many older properties are undergoing comprehensive modernization work.
What do the nationwide data say?
According to Banco de España data (Q4 2024), the average price per square meter in Spain has achieved a year-on-year nominal growth of +7.05%. At the same time, it is estimated that Spain currently has a housing deficit of 600,000–680,000 units – which explains the sustained demand and pressure on prices.
Meanwhile, INE data from Q1 2025 indicate that property prices continue to rise at a double-digit rate: +12.2% year-on-year, and Fitch Ratings predicts further growth of 6–8% in 2025, despite relatively high income burden (housing prices reach 6 times the average income).
In short: the fundamentals of this market are strong, yet not inflated – and this makes it attractive for long-term investors.
International Demand Remains Strong
In 2024 alone, 8,700 homes were sold in the Golden Triangle, with as much as 90% of transactions in Marbella involving foreign clients. For comparison: in the entire province of Malaga, the share of foreigners is about 34%.
Marbella is increasingly mentioned in the same breath as cities like Dubai, Miami, or London – and not without reason.
Stable Growth, Not a Bubble
After a dynamic rebound in 2022, the luxury market on the Costa del Sol has found its rhythm. Growth today is more balanced, predictable, and – most importantly – economically healthy. This is an ideal situation for investors: rising prices without the risk of sudden collapse.
DOM3 and Quality Control
Personally, I believe that at the heart of this balance is, among other things, the activity of organizations such as DOM3, which not only monitors the luxury market but also actively lobbies for improved infrastructure, mobility, and sustainable urbanism. This is where luxury goes hand in hand with responsible planning.
What's Next?
If the trend continues – and everything indicates it will – Marbella, Estepona, and Benahavís will remain not only a top holiday destination but also one of the safest markets for capital investment in real estate in Europe.
Summary for Investors:
- Price increase: +11.9% in the Golden Triangle, +12.2% across Spain (INE)
- Banco de España: 7.05% growth, housing deficit of 600–680 thousand
- Fitch: growth forecast of 6–8% in 2025
- 90% of transactions in Marbella involve foreign clients
- DOM3: guarantee of quality and vision for luxury market development