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The Southern Spain Real Estate Market in 2026
The latest official transaction data shows both high property values and strong international demand.
In Marbella, 4,037 residential transactions were recorded during the latest 12-month period available, with an average transaction value of €788,970 and an average price of €4,665/m². By May 2026, the monthly average had reached €5,212/m².
Benahavís sits at an even higher price point, with an average transaction value of €993,891 and an average property size of 219 m². The average price reached €5,261/m² in May 2026.
In Estepona, the average transaction value was €434,200, while the average price reached €4,235/m² in May 2026, compared with €3,042/m² in June 2025.
These are municipality-wide transaction figures; prices within individual luxury developments can vary substantially.
Who Is Buying?
International demand is a defining feature of the market.
Foreign nationals account for 69.31% of buyers in Marbella, with British, Swedish, Dutch, German and Belgian buyers among the most represented.
In Benahavís, 84.95% of buyers are foreign, led by British (13.47%), Swedish (10.27%), Dutch (9.36%), Belgian (8.45%) and German buyers (7.53%).
In Estepona, foreign buyers represent 68.93% of the market, again with strong British, Dutch, Swedish, Belgian and German demand.
Where to Buy Luxury Property in Southern Spain?
Golden Mile
Established prestige & beachfront living. Marbella’s best-known prime address, combining luxury villas and apartments with proximity to the beach, Marbella town and Puerto Banús.
Best for: prestige, central location and beachfront lifestyle.
Sierra Blanca & Cascada de Camoján
Privacy, views & contemporary villas. Exclusive residential areas above Marbella offering gated communities, large villas and Mediterranean views.
Best for: privacy, security and space close to Marbella.
Nueva Andalucía
Golf & year-round living. Home to Marbella’s Golf Valley and a large international community, with villas, townhouses and apartments close to Puerto Banús.
Best for: golfers, families and year-round residents.
Los Monteros
Quieter beachside luxury. An established Marbella East location combining beach access with a more peaceful residential environment.
Best for: coastal living and privacy away from the centre.
Beyond Marbella
La Zagaleta
Located in Benahavís, La Zagaleta represents the ultra-prime end of the market, with large private estates, substantial plots and a strong focus on privacy and security.
Best for: ultra-prime privacy, security and space.
El Madroñal
A secluded hillside environment in Benahavís characterised by villas, large plots, views and nature.
Best for: space, privacy and a natural setting.
Los Flamingos
A luxury residential and golf resort environment between Marbella and Estepona.
Best for: golf, second homes and resort-style living.
New Golden Mile
The coastal corridor towards Estepona is particularly associated with contemporary developments and beachfront residential communities.
Best for: new developments, modern amenities and coastal living.
Buying in Marbella as an International Buyer
Choosing the right area is only one part of buying property in Marbella. International buyers should also consider the property’s legal status, purchase costs, financing, tax implications and, when relocating to Spain, their wider immigration and relocation plans.
At HolaExpat, we coordinate the real estate, legal, tax and relocation aspects of establishing yourself in Marbella through one local point of contact.
Planning to buy or relocate to Marbella?
Request a Relocation & Property Assessment.
Data Source
Market figures are based on the latest available 2026 official residential transaction data from the Consejo General del Notariado (General Council of Notaries of Spain) for Marbella, Benahavís and Estepona. The figures reflect completed property transactions rather than advertised or asking prices.
Latest data available at the time of publication: May 2026.
