Is now a good time to buy property in Spain? It is the question we hear most often from international buyers. Prices have risen in recent years, interest rates fluctuate, and you hear stories from people who made a fantastic purchase, but also from those who got it wrong. In this article we give you an honest answer, based on the 2026 figures and our experience as estate agents in Marbella.
The short answer
Yes, provided you buy for the right reasons, in the right place and with the right guidance. Spain, and the Costa del Sol in particular, remains one of the strongest property markets in Europe: demand is high, supply in prime locations is limited and the quality of life is exceptional. If you are waiting for a big drop in prices, in the best areas you will probably wait in vain. But not every property is a good buy.
What do the figures say?
- The house price index of INE, Spain's national statistics office, rose by 12.2% year on year in the second quarter of 2026.
- In Marbella, asking prices rose by around 3% in a year to almost €6,000 per m². In Estepona the rise was 17%, in Benahavís 6.5%.
- Actual sale prices in Marbella rose by almost 8% in 2025, while the number of sales fell. That points to scarcity.
- The 12-month Euribor stood at around 3.25% in September 2026, higher than a year earlier.
- Málaga airport handled more than 3 million passengers in August 2026, more than ever before.
You will find more details in our article on the Marbella property market in 2026.
Five good reasons to buy now
1. Scarcity in the best locations
Between the sea and the mountains there is hardly any building landleft. In the whole of Marbella, permits were granted for only 35 new homes in the first quarter of 2026. Supply in prime locations will therefore remain limited, which supports values.
2. Quality of life, today
Every year you wait is a year less of sunshine, outdoor living and time with family in your second home. For many buyers, that is the most important reason.
3. Stable, international demand
Buyers from dozens of countries create a broad and stable market. That makes the Costa del Sol less dependent on any single economy.
4. Rental income
Rents in Marbella rose by almost 9% in a year. A well-located property can recoup part of its costs, although you need to take account of the stricter rules on holiday lets.
5. A tangible investment
For many people, property in a prime location is a way to diversify part of their wealth into something they can also enjoy themselves.
The risks: what should you look out for?
- Overpriced listings: not every property is correctly priced. Always compare with recent sales in the same area.
- Legal issues: illegal extensions, debts on the property or a missing licence of first occupation. An independent lawyer will check this for you.
- Holiday lets: holiday letting is not permitted in every property or community. Check this beforehand if it matters to you.
- Additional costs: allow 10 to 12% on top of the purchase price, plus annual running costs and taxes.
- Buying on impulse: falling in love with a property on a sunny holiday is only human. Take the time to look at the location, the traffic and the neighbourhood outside the season too.
When is buying not a good idea?
If you will only use the property for a few weeks a year and don't want to let it, if your finances are tight, or if you expect to sell at a profit in the short term, buying may not be the best choice. Property in Spain is a medium to long-term investment.
New build or resale?
New builds offer modern technology, energy efficiency, guarantees and often stage payments during construction. A resale property has the advantage that you can enjoy it straight away, you see exactly what you are buying, and it is often in a better, more established location. Browse our new-build property and resale properties to compare.
How to go about it wisely
- Define your goal: your own use, letting, wintering or living here permanently later on?
- Set your total budget including costs, and apply for an NIE number in good time.
- Choose the right area: Marbella, Benahavís, Estepona or further east.
- Work with an estate agent who speaks your language and has access to the full market.
- Appoint an independent lawyer to check all the documents.
- Ideally, visit the property twice, at different times.
- Negotiate based on facts: recent sales, the condition of the property, time on the market.
Why buy with Imagine Marbella?
We are Geert and Martine, Belgian estate agents with an office in Marbella. We speak your language, know the market inside out and work with trusted lawyers, notaries, banks and builders. We guide you from the very first search to the handover of the keys, and beyond. Book a no-obligation chat or browse our Prestige collection.
Wait or buy?
Those who wait for the perfect timing often miss the perfect property. In the best locations supply is limited, and good homes at the right price sell quickly. Good preparation therefore matters more than the right moment.
Frequently asked questions
Will house prices in Spain fall?
No one can predict the future, but in the prime locations on the Costa del Sol the fundamentals are strong: limited supply, high international demand and an exceptional climate. A sharp fall seems unlikely there.
Can I simply buy a house in Spain as an EU citizen?
Yes. As an EU citizen you only need an NIE number (foreigner's identification number) and a Spanish bank account.
How big a deposit do I need for a mortgage in Spain?
Non-residents can usually borrow 60 to 70% of the purchase price. So allow for a deposit of 30 to 40% plus the additional costs.
What is the best area to buy a house in Spain?
That depends on your goals and budget. The Costa del Sol, with Marbella, Benahavís and Estepona, combines the best climate with excellent accessibility and a strong property market.
What is the best time of year to buy?
There is no set season. Spring and autumn are pleasant times for viewings, and outside the summer there is often more room to negotiate.
