Marbella property market 2026: prices, trends and outlook

How is the property market in Marbella faring in 2026? Are prices still rising, is it a good time to buy and which areas are performing best? In this overview we bring together the latest figures from idealista, the Spanish notaries, the INE and the Spanish Land Registries, and share our view as estate agents who are out in the market every day. We update this article regularly.

The key figures at a glance

• Average asking price in Marbella: €5,967 per m² in September 2026, 3.2% higher than a year earlier (idealista).
• Actual sale price 2025: an average of €4,424 per m², an increase of 7.7% (notaries).
• Number of sales in Marbella in 2025: 4,379, around 8% fewer than in 2024. Fewer transactions but higher prices: a sign of scarcity.
• Share of foreign buyers: 62% in Marbella, 71% in Estepona and 84% in Benahavís.
• Spain as a whole: the INE house price index rose by 12.2% year on year in the second quarter of 2026.

Prices by district

Source: idealista, asking prices for August and September 2026. Asking prices are higher than final sale prices. They mainly indicate the direction of the market.

Trend 1: the top end remains strong

Demand for villas priced above €3 million remains high, especially on the Golden Mile and in Sierra Blanca, La Zagaleta and Los Monteros. In 2026, villas around Puente Romano and in Sierra Blanca were offered at €15,000 to more than €22,000 per m². Buyers in this segment are less dependent on interest rates and are mainly looking for quality, privacy and location. Modern, move-in-ready villas with sea views are scarce and sell fastest.

Trend 2: Estepona and Benahavís are catching up

We are seeing the strongest growth west of Marbella. Estepona climbed 17% in a single year, Benahavís 6.5%. Buyers come here for more space and new-build property for their money. The area between San Pedro and Estepona, the New Golden Mile, is one of the big winners. The new-build pipeline is there too: in the first quarter of 2026, 540 homes were granted permits in Estepona, compared with just 35 in Marbella itself.

Trend 3: few new builds in Marbella, hence scarcity

Between the sea and the Sierra Blanca there is hardly any building land left. As a result, the supply of new homes in Marbella remains limited, which supports the prices of resale properties . That is why thorough renovations of older villas are popular: buying a well-located villa and modernising it often creates extra value. Also browse our building land.

Trend 4: interest rates are edging up again

The 12-month Euribor averaged 3.25% in September 2026, more than a percentage point higher than a year earlier. For buyers who take out a mortgage, that makes a difference. At the upper end of the market, however, many purchases are made with own funds, so the impact there is more limited.

Trend 5: rents keep rising

The average asking rent in Marbella stood at €23.60 per m² per month in September 2026, 8.7% higher than a year earlier. In areas such as Las Lomas del Marbella Club and Puerto Banús it is above €26. That makes Marbella property attractive if you want to let, although the rules on holiday lets have become stricter. Always get proper advice on this.

Taxes: what is changing?

The transfer tax (ITP) on the purchase of a resale property in Andalusia is 7%. The Andalusian government has announced a reduction to 6.75% for 2027, but it has not yet come into force. On a new build you pay 10% VAT and 1.2% stamp duty.

What do we expect for 2027?

We expect a selective market. The best properties in the best locations will keep rising in value, because supply is limited and international demand remains strong. Properties that are dated or overpriced stay on the market longer, and there is room for negotiation there. For buyers, that means: be critical, get good advice and act when the right property comes along at the right price. In our article Is now a good time to buy property in Spain? we explore this in more depth.

What does this mean for you?

• You are looking for a luxury villa: supply in the prime locations is limited. An agent with access to off-market properties is a big advantage.
• You want more space for your money: look at Benahavís, Nueva Andalucía or the New Golden Mile.
• You want to sell: realistic pricing is crucial. Well-priced properties sell quickly.

Personal market advice?

Figures say a lot, but every property and every street is different. Tell us what you are looking for or what you want to sell, and we will give you an honest assessment based on recent sales. Explore our Prestige collection or get in touch with us.

How should you read these figures?

With market figures, always note the difference between asking prices (what sellers ask) and sale prices (what is actually paid at the notary). Averages per municipality also hide big differences between neighbourhoods and property types.

Frequently asked questions

Are house prices in Marbella still rising in 2026?

Yes, asking prices rose by around 3 to 4% over the year, with peaks of almost 6% on the Golden Mile and in Nueva Andalucía. Growth is, however, slowing compared with previous years.

What is the average price per m² in Marbella?

Around €5,967 per m² as an asking price (September 2026). Actual sale prices averaged around €4,424 per m² in 2025.

Who buys property in Marbella?

Around 62% of buyers are foreign. British, Belgian, Dutch, Scandinavian and German buyers, as well as buyers from the Middle East and the United States, are strongly represented.

Is Marbella property overvalued?

Marbella is expensive, but prices are underpinned by genuine demand and limited supply. You do need to look critically at each property, though: not every asking price is realistic.