The penthouse of the upcoming TM Tower in Benidorm has been sold for €3.4 million, marking one of the most high-profile transactions in Spain’s evolving luxury property market. The development, still under construction, is set to become the tallest residential building in the European Union, reaching 230 metres and reshaping the skyline of the Costa Blanca resort city.
The sale forms part of a broader commercial success for developer TM Grupo Inmobiliario, which reports that around half of the 260 apartments in the tower have already been reserved. The most expensive unit, located on the 63rd floor, was purchased by a Spanish businessman and features 350 square metres of living space, four bedrooms, multiple bathrooms, and expansive terrace views over the Mediterranean coastline.
A second premium apartment on the 62nd floor was sold for approximately €2.7 million to a Polish buyer, reflecting the strong international demand for high-end real estate in southern Spain. According to the developer, nearly 70% of buyers are foreign nationals, with significant representation from Eastern Europe, particularly Poland and Ukraine, alongside Spanish purchasers. The average price per apartment in the tower is close to €1 million, underscoring its positioning in the ultra-luxury segment.
The project is being constructed next to other landmark buildings such as the In Tempo tower, and will surpass all residential structures in the European Union upon completion, exceeding Poland’s Złota 44 by a significant margin. At 230 metres tall, the skyscraper is part of a broader concentration of high-rise development in Benidorm, which already hosts more than 100 towers and remains one of Europe’s most vertically dense coastal cities.
Beyond its scale, the development is designed as a luxury lifestyle complex, featuring amenities such as indoor and outdoor pools, wellness centres, sports facilities, a cinema room, and a panoramic sky bar with an observatory. The developer plans to complete construction by 2028, supported by a reported €400 million investment in the city over the past decade.
The surge in foreign interest, particularly from Eastern Europe, reflects wider economic and geopolitical trends influencing real estate demand along Spain’s Mediterranean coast. For TM Grupo Inmobiliario, which has expanded its footprint in both Spain and Mexico, the TM Tower represents not only a flagship project but also a symbol of the continued internationalisation of luxury housing markets in Southern Europe.
