The Costa del Sol is not just a popular holiday destination for Europeans. It has become a beachfront, cosmopolitan region attracting people from all walks of life, including the wealthy cosmopolitan jet-set holidaymakers.
Seeing a growing trend in big spenders for designer brands, top Italian fashion designers like Prada have decided to set up shop just outside the Malaga capital, in Plaza Mayor. The Milan-based fashion brand will take one of the vacant units in the central square of the new shopping development that opened last February. Silbon and Bimba y Lola are also following suit.
There are no confirmed dates as to when Prada will open its doors to the public, in sunny Spain’s Costa del Sol, but their move is reflective of the direction Malaga and the Costa del Sol are taking. It is no longer just a holiday resort area but as well a cosmopolitan, cultural centre that happens to line the Mediterranean. Malaga is the third city that Prada has chosen to open a shop in Spain. At present, Prada has shops in Madrid and Barcelona.
This insight, spotted by the designer brand’s powerful global marketing operation, is also reflected in the area’s property market. Whilst in the past, 2-bedroom, middle range properties were the most in-demand, it is now becoming evident that the trend is leaning towards more luxurious, high-end properties both for sale and to rent.
We have been noticing a rising interest in the high-end market real estate on the Costa del Sol. In particular, in the most prestigious locations including Marbella and its surroundings. This growing demand for modern, state-of-the-art luxury is seeing a shift in property sales and rentals which was unexpected following the global pandemic. It would seem that property agents, specialising in luxury end real estate in Spain, are becoming more and more in demand. People want elegance, class and designer homes in prime locations.