Which Mac is best for Xcode? (2020)

I’m planning on making my next laptop a Mac, primarily for coding iOS apps with Xcode. I was planning on getting the entry level MacBook Air, which has these specs:

1.1GHz dual-core 10th-generation Intel Core i3 processor

Turbo Boost up to 3.2GHz

Intel Iris Plus Graphics

8GB 3733MHz LPDDR4X memory

256GB SSD storage¹

Is it powerful enough in the long run? Should I invest in something with more storage and memory if I’m going to be using it for Xcode primarily?

I’d like to avoid spending more if it isn’t going to make much of a difference for my usage. I’m also not opposed to spending more if it’s needed.

Thank you!