Costa del Sol.

The Andalusian coast between Málaga and Sotogrande is, by transaction volume, the largest non-domestic real-estate market in Southern Europe. The combination of year-round climate, established infrastructure, a stable rule of law, and direct flights to most of Northern Europe makes it unusually liquid for a "holiday" market.

New-build supply concentrates in three sub-markets: Marbella (existing prestige, deep secondary market), Estepona (modern off-plan dominated, more value-driven), and Sotogrande (gated, slower, prized for privacy). Each has its own pricing logic — Onora screens developers across all three.

The region runs on a stable property-rights regime, mature Notario-led conveyancing, and a high-volume secondary market. Spain offers a residency-by-investment programme tied to qualifying property purchases; the rules and minimums shift periodically, so we don't restate them here.