The Malaga town jumps thirty places in a year and ranks as the fifth global destination for high net worth individuals, according to the Barnes Global Property Handbook 2026.
Marbella has made a spectacular leap in the international luxury housing market. The Costa del Sol city has climbed from 35th to 5th place in the index of the most sought-after destinations by high net worth individuals, according to the update of the Barnes Global Property Handbook 2026, compiled by the French real estate agency specialising in high-end properties.
The report places two Spanish cities among the top five: Madrid retains its position as the most attractive in the world for the second consecutive year, while Marbella makes a strong entry into the top 5. Completing the ranking are Milan (second), Dubai (third), and Miami (fourth).
According to Barnes, Marbella's rise is due to a change in the profile of buyers. The city has ceased to be viewed solely as a holiday destination and has become a stable place to live and work. Key factors include the good climate, high-end leisure offerings, adequate services, and international connections that facilitate mobility for high net worth individuals.
Madrid, for its part, maintains its leadership thanks to a combination of quality of life, economic dynamism, competitive taxation, and prospects for appreciation. The Spanish capital is consolidating as a magnet for luxury investors and buyers.
The study reveals a global trend shift: traditional cities such as Paris, New York, Monaco, and London are losing ground to markets in southern Europe, the Middle East, and the United States. Paris falls to sixth place, New York to seventh, Monaco drops to fourteenth, and London only appears among the top 20 destinations, weighed down by fiscal and political uncertainty.
The report also highlights the transformation of enclaves that, like Marbella, are transitioning from seasonal destinations to residential ones. Among them are Mallorca, Aspen, Palm Beach, Lake Como, the Hamptons, Whistler (Canada), and the Portuguese coast of Comporta.
For the Malaga market, Marbella's position in the top 5 represents a boost to its luxury real estate offering and reinforces its image as a top-tier destination for high net worth individuals. Proximity to Malaga city and the international airport are factors that foreign buyers particularly value.
The Barnes Global Property Handbook 2026 has become a reference for the sector, analysing the preferences of high net worth individuals in purchasing luxury properties worldwide. The presence of two Spanish cities in the top positions confirms the country's appeal as a high-end residential market.
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