U.S. citizens purchase properties in Marbella, while Spanish citizens buy properties in Miami
The launch of The Delmore in Marbella is a testament to the growing connections between the Spanish city and Miami's luxury real estate markets. The 12-storey tower, a US project by luxury developer DAMAC, is located in Miami's high-end real estate market, known as the "billionaires' triangle" in Surfside.
The Delmore, with its 37 flats spanning 650 to 930 square metres, marks DAMAC's expansion into the US market. The flats feature three-metre-high ceilings, climate-controlled private garages for three vehicles, and personalised butler services, making it an attractive proposition for high-end buyers.
The interest in Marbella's luxury real estate market is not limited to the US. Foreign buyers, particularly Americans, rank among the top five international buyers in Marbella, following the United Kingdom and Germany. This trend is reflected in the significant investment by Spanish investors in US residential properties, with over $650 million invested in 2024, a large portion of which went to Miami.
The report suggests that Marbella attracts a significant number of international buyers, particularly Americans, in its luxury real estate market. This interest is further supported by the 34% rise in US dollars flowing into Marbella in 2024 compared to 2023.
The 2025 edition of Knight Frank's The Wealth Report reveals a record €3.2 billion investment in Malaga's Golden Triangle (Marbella, Estepona, and Benahavis) for 2024. This surge indicates a strong American interest and confidence in the region’s real estate market.
The choice of Marbella to present The Delmore is not a coincidence, according to Pedro Román, the developer of The Delmore. He sees a "natural symbiosis" between Marbella and Miami, comparing their exceptional climate, cutting-edge architecture, cosmopolitan feel, and global clientele seeking exclusivity.
Marbella's luxury real estate market is heavily influenced by foreign investment. Foreign buyers account for 82% of luxury real estate transactions exceeding €1 million in Marbella, making it the city in Spain that leads in the proportion of foreign buyers in its high-end property sector.
In conclusion, the launch of The Delmore in Marbella underscores the increasing international interest in both Marbella and Miami's luxury real estate markets. The strong American investment and buyer interest in both Marbella and Malaga's Golden Triangle in 2024 compared to 2023 indicate a promising future for these markets.
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