AN Estepona ‘villa in the sky’ has been sold for €8m, according to the El Conciso newspaper, with the booming Costa del Sol municipality looking to outmuscle Marbella and Sotogrande.
Marking a milestone for Estepona, the penthouse has become the most expensive apartment sold in the Malaga municipality, according to Tyrian Residences, the residential project, promoted by Prestige Expo Group and Grupo BZH, which this property is a part of.
Named the Melkart, the property has four bedrooms, four bathrooms, a private solarium, a supergarage with a private lift and numerous terraces with ‘views over the Mediterranean, Gibraltar and the African coast’.
The project also includes a second Melkart penthouse as well as 40 residences in four other styles.
Their construction has seen over 85 people working daily on the site and once the residences open, towards the end of 2026, 21 people will be permanently employed.
All of the Tyrian Residences have a frontline beach location, access to a spa and multimedia room and a 24/7 concierge.
This concierge service is a luxury which is ‘uncommon in the residential European market’ and will be provided to residents alongside high security, smart card systems and number plate recognition.
Additionally, the residences have been awarded a WELL Building Standard certificate meaning that they minimise environmental impact and enhance physical, mental and emotional well-being.
READ MORE: Home sales boom in Spain despite prices continuing to soar
Those purchasing high value properties such as these Tyrian Residences are typically high-net-worth individuals (HNWI) aged between 40 and 65 years old from the UK, Germany, the Netherlands, the US, the Middle East and Northern and Eastern Europe, according to El Conciso.
Tending to be business owners, senior executives or investors, the owners usually split their time between cities like Madrid, London, Dubai and New York, El Conciso adds.
The construction of the Tyrian Residences in Estepona has put the Malaga municipality on the map as an alternative to Marbella and Sotogrande for these foreign buyers with high purchasing power.
Now, the €8m sale of the Melkart penthouse has underlined Estepona’s evolution from a quieter coastal town into a serious contender in Spain’s luxury property market.
Click here to read more Spain News from The Olive Press.
