The Costa del Sol is one of the safest destinations for investment in luxury property in 2026

It is no coincidence that Marbella has been ranked among the top five most sought-after luxury destinations in the world in the Barnes Global Property Handbook 2026. According to industry experts, an increasing number of people seeking a high standard of living are choosing to invest in property on the Costa del Sol. One of the key factors driving investor interest is Spain’s geographical location, its distance from ongoing conflicts – in the Middle East and the war in Ukraine – as well as the stability of the Spanish economy.

Marbella ranks among the top five most sought-after premium locations in the world

In the 2026 Barnes City Index, which lists the most popular cities for millionaires (people with a net worth of at least 30 million dollars) to live in, Marbella ranks fifth. Just ahead of it in the ranking are cities such as Madrid, Milan, Dubai and Miami.

The Wealth Report 2026, compiled by Knight Frank, indicates steady growth in demand for luxury properties on the Costa del Sol in 2026. According to data from 2025, property prices rose by as much as 8.1 per cent compared with the previous year.

The appeal of the Costa del Sol is not only down to its exceptional weather and well-developed infrastructure. One of the key reasons cited by experts for the steadily rising demand in recent years is the uncertain geopolitical situation in the Middle East and Eastern Europe. Furthermore, *The Wealth Report*, published in 2026 by the international firm Knight Frank, forecasts a significant increase in the number of the wealthiest individuals over the next five years. In countries such as Poland, their numbers could rise by as much as nearly 123 per cent!

Why is the Costa del Sol seen by investors as a safe haven from the conflict in the Middle East?

For ultra-high-net-worth individuals (UHNWIs), whose net worth exceeds at least 30 million dollars, security and the ability to diversify their assets – including into property – are becoming increasingly important. An increasing number of experts in Spain’s luxury property sector are highlighting a common factor that unites foreign investors on the Costa del Sol, namely the geopolitical situation.

 According to data from the Consejo General del Notariado for 2025, as many as 43 per cent of property buyers in the region of Andalusia are foreign buyers. In 2025, the region ranked second among the autonomous communities in terms of the number of properties sold to foreign buyers. It was also one of the few regions to record an increase in interest – up 1.5% compared with 2024.

Poles are seeking a safe haven in the wake of the ongoing war in Ukraine

Agnieszka Marciniak, founder of Agnes Inversiones-Kostrzewa, in an interview with Puls Biznesu, explains that the initial catalyst for growth in the Spanish property market was the outbreak of the COVID-19 pandemic, which led to a reassessment of priorities, a shift in working practices across many companies and a move towards remote working. The next property boom was triggered by the war in Ukraine in 2022. It was then that the decision to buy a home in Spain began to be driven by a greater need for security and asset diversification, in light of the war raging just beyond our eastern border.

Spain is a destination with a convenient network of flight connections, as well as an extensive road and rail infrastructure. Furthermore, its geographical location attracts tourists from all over the world, offering sunny weather for over 300 days a year. The Costa del Sol is one of the areas on the map of Europe furthest to the west of the war in Ukraine and the conflicts in the Middle East.

Marbella: an alternative not just for Poles

In an interview with Reuters, Agnieszka Marciniak-Kostrzewa reveals that Polish investors have already started to approach her agency; until now, they had regarded Dubai as a safe and luxurious haven, but, due to the war with Iran, are now deciding to invest in property on the Costa del Sol.

Estate agents in Spain are quite unanimous in pointing to Spain as a country whose appeal to investors from the Persian Gulf has risen significantly in recent months. Destinations such as Marbella and Madrid, in particular, are becoming increasingly popular amongst wealthy foreign buyers.

Since the outbreak of the war with Iran, there has also been a rise in the number of wealthy investors from overseas who are increasingly keen to buy property in Spain. According to one Spanish estate agency, between 2024–2025, the value of US property investments rose by 5.7 percentage points, making Americans the leading foreign buyers on the Costa del Sol, ahead of the British.

Poles ranked 8th among foreign investors in Spain in 2026

According to the latest report from Registradores de España for the first quarter of 2026, Poles rank 8th among foreign investors in Spain; however, according to data from the General Council of Notaries (Consejo General del Notariado), our compatriots retained 7th place in the ranking of foreign buyers in 2025, purchasing 4,136 properties in Spain.

The presence of Poles amongst foreign investors is particularly evident in Andalusia, as they feature amongst the top five foreign buyers in as many as eleven Andalusian municipalities. According to forecasts for the next five years, Poles are set to achieve the second-highest growth rate in the number of ultra-high-net-worth individuals (UHNWIs), representing an increase of 62.6 per cent. Together with the Swedes, they belong to the nations in which one of the most dynamic increases in the number of UHNWIs is forecast. It can therefore be assumed that, in future, the share of Poles in the Spanish property market will also increase significantly.

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