Estepona Leads Real Estate Sales in the Golden Triangle of the Costa del Sol
Will Estepona Become the New Marbella in the Coming Years?
Estepona has positioned itself as the leader in real estate sales growth in the Golden Triangle of the Costa del Sol, with a 15.1% increase in property prices. The data, gathered from a recent business meeting of DOM3 with associates and key players in the real estate sector, highlights Estepona's strong dynamism compared to its neighbors Marbella and Benahavís.
Price Increases by Municipality
A recent report presented by the Association of Entrepreneurs for High-Quality Housing (DOM3) highlights the year-on-year price increases in the Costa del Sol real estate market. Estepona leads with a 15.1% rise in property prices, followed by Benahavís with a 10.8% increase and Marbella with a 9.8% rise.
Areas with the Highest Price Increases in May
Marbella: Elviria-Cabopino (+22.4%), Las Chapas-El Rosario (+14.1%), and San Pedro Alcántara (+13.9%).
Estepona: Playa Bahía Dorada (+28.3%), Selwo and Estepona town (+23.0%), and Selwo (+21.8%).
Benahavís: Los Flamingos (+21.0%), La Zagaleta-El Madroñal (+18.6%), and El Paraíso (+17.7%).
Market Impact and International Demand
DOM3's business meeting also highlighted the growing international interest in the high-end real estate market, with a significant concentration of foreign buyers in Marbella. However, Estepona continues to establish itself as an emerging prime destination. According to the report, more than 90% of transactions in Marbella are made with international buyers, and Estepona and Benahavís have also seen a high demand from foreign buyers.
In 2024, the three municipalities of the Golden Triangle recorded an increase in transactions, with a total of 8,708 properties sold, including 3,162 in Estepona.
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Challenges for the Sector
Despite steady growth, DOM3 warns of the need for a balanced approach. Charly Simon, president of the association, emphasized the importance of moderating expectations in the second-hand market to avoid a potential disconnect with actual demand. He also called for improvements to local infrastructure and for working on sustainable urban planning to ensure appropriate development for local workers.
Customer Experience, Key in the Luxury Real Estate Market
One of the key topics at the recent meeting was the importance of offering an exceptional customer experience. Belén González, a specialized consultant, shared her view that, in the luxury real estate sector, experience is the differentiating factor. High-net-worth property buyers seek more than just a property; they want an exclusive lifestyle and personalized service.
This "liquid experience" approach is becoming one of the leading trends in the premium real estate market, where clients expect experiences similar to those found in destinations like Miami or Monaco.
Season Close and Future Outlook for the Sector
DOM3 concluded its cycle of events with a gathering that solidified its role as a thought leader in the high-end real estate sector. The association will continue its activities in September, with new events focused on reflecting on the future of the real estate market in the Costa del Sol and the Golden Triangle.