The Marbella area and the western coast of the province of Málaga are experiencing remarkable stability in the real estate market as 2026 begins, following years of rapid growth. This report tracks the latest official figures released by specialized and independent sources monitoring the Spanish real estate market, providing an accurate and realistic picture of sales volume, prices, and market trends.
This report reviews the latest official data available to date on the real estate market in Marbella, in preparation for 2026.
An Overview of the Spanish Real Estate Market in 2025
In 2025, Spain recorded one of its strongest real estate performances in years at the national level. According to data from the Spanish National Institute of Statistics (INE), the number of home sales across Spain in 2025 totaled approximately 714,237, an increase of 11.5% over 2024. December 2025 alone saw a 7.9% year-over-year increase in home sales. This strong national performance provides the broader context against which markets in southern coastal regions—such as the western coast of Málaga, where Marbella is located—are operating.
Real Estate Market Performance in Marbella and the Western Coast (Western Costa del Sol)
In the western coastal region of Málaga—which includes Marbella, Estepona, Benahavís, and other neighboring areas—there were approximately 19,714 residential sales in 2025, a slight decline of 5% from 2024, However, this figure remains 7% higher than the region’s ten-year average and 24% higher than the average for the past decade as a whole. The first half of 2025 recorded 10,056 sales, showing virtually unchanged performance compared to the same period in 2024, reflecting market maturity rather than a decline (data from Spanish Property Insight).
This slight decline in the number of transactions was not accompanied by a decline in prices; quite the opposite, as the following paragraph explains.
Real Estate Prices in the “Golden Triangle”: Marbella, Estepona, and Benafís
Asking price data for the first half of 2025 shows that prices per square meter continue to rise in the three most sought-after areas on the West Coast:
- Marbella: 5,183 euros per square meter, up 8% from the previous year, 71% over five years, and 127% over ten years.
- Estibona: 3,861 euros per square meter, up 12% year-over-year and 73% over five years.
- Benhafis: 4,997 euros per square meter, up 10% year-over-year and 62% over five years.
This continued rise in prices, despite a slight decline in the number of transactions, confirms that demand for real estate in this area remains strong and that limited supply is driving prices higher.
The Real Estate Market in the Province of Málaga as a Whole
Across the entire province of Málaga, there were approximately 36,164 residential sales in 2025, a 4% decrease from 2024, which had seen 37,790 sales (a 7% increase from 2023). In contrast, the average price of resale homes in the province rose to 341,638 euros, an 8% increase from the previous year.
What explains this performance?
The overall picture of the real estate market in Marbella and the surrounding area in 2026 is that of a mature market finding its balance: the number of transactions is declining slightly after years of rapid growth, while prices continue to rise due to limited supply of quality properties in the most sought-after locations and sustained demand from international buyers. This trend is consistent with the strong performance of the Spanish real estate market nationwide, suggesting that prices in Marbella are more likely to remain stable or rise gradually in the coming period than to experience a sharp correction.
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Frequently Asked Questions
Did real estate prices in Marbella rise in 2025?
Yes, asking prices in Marbella rose by 8% over the course of one year, reaching 5,183 euros per square meter in the first half of 2025.
Have real estate sales in Marbella declined?
The western coast of Málaga (where Marbella is located) recorded a slight 5% decline in the number of transactions in 2025 compared to 2024, but the figure remains 7% above the region’s 10-year average.
Which area is the most expensive among Marbella, Estepona, and Benahavís?
Marbella is the most expensive at 5,183 euros per square meter, followed by Benahavís at 4,997 euros, and then Estepona at 3,861 euros (data from the first half of 2025).
Is the real estate market in Spain generally growing?
Yes, Spain recorded 714,237 residential sales nationwide in 2025, an increase of 11.5% over the previous year, according to the Spanish National Institute of Statistics (INE).
