Real Estate Market 2026: Marbella and the Costa del Sol

Real Estate Market 2026: Marbella and the Costa del Sol

In November 2026, the property market in Marbella and along the Costa del Sol is showing an interesting trend: property values are continuing to rise, although growth is beginning to moderate in certain areas.

We are not seeing a general decline in property prices. Instead, the market is becoming more selective, with location, construction quality, sea views and exclusivity playing an increasingly important role.

There are three key trends worth highlighting:

1. Well-located properties continue to attract strong demand.
2. Some areas are experiencing significantly stronger growth than Marbella.
3. Buyers are becoming more selective, and overpriced properties are taking longer to sell.

1. Property price trends by area

These are the average asking prices per square metre in September 2026:

Important: These are asking prices, not necessarily the final prices achieved in completed property transactions.

2. What is happening within Marbella?

There are significant differences between individual neighbourhoods.

September 2026 figures:

An important observation: the Golden Mile has some of the highest property prices, but that does not necessarily mean it is the area experiencing the highest percentage growth.

3. Are we seeing a slowdown in the property market?

Yes, there are signs that market activity is moderating.

An analysis of transactions recorded during the first half of 2026 in the so-called Golden Triangle (Marbella, Benahavís and Estepona) shows:

• 3,422 properties sold.
• 20.7% fewer transactions than in the first half of 2025.
• A 15.5% increase in the average transaction price, reaching €4,366/m².

This means that fewer properties are being sold, while the average prices of completed transactions continue to rise.

It is important to distinguish between the average selling price of properties and the actual appreciation in value of an individual property. They are not necessarily the same thing.

4. Which types of properties have the greatest appreciation potential?

Luxury villas

Properties offering privacy, sea views, contemporary architecture and exclusive plots of land are particularly attractive.

Apartments close to the sea

Especially beachfront properties, high-quality residential developments and areas offering year-round amenities and services.

New-build properties

Energy-efficient homes with terraces, garages, swimming pools and high-quality communal facilities.

Exceptional properties

Large plots, security, privacy and unique features that are difficult to replicate.

5. What can we expect in 2027?

I see three possible market scenarios:

• Positive scenario: International demand remains strong and limited housing supply continues to push prices upwards.
• Moderate scenario: Growth slows down, with increasingly significant differences between neighbourhoods and property types.
• Negative scenario: Higher interest rates or weaker international demand could lead to price adjustments in overpriced properties.

I would not assume that all properties will increase in value at the same rate.

6. My conclusion on Marbella and the Costa del Sol

In my view, the property market remains structurally attractive, particularly in established and highly sought-after locations.

However, in 2026, buying the right property at the right price is more important than simply buying in a well-known area.

For property owners, it is also essential to distinguish between the asking prices advertised on property portals and the actual market value achievable in a sale.