Mosaic Realty · 4 November 2026 · 5 min read
Spanish property prices reached another milestone in October. According to idealista’s monthly report, published on 4 November, the average asking price for a resale home in Spain reached €2,955 per square metre – the highest figure since its records began in 2006, and 11.2% more than a year ago. Málaga province, at €4,322/m², is now the fourth most expensive province in the country, behind only the Balearic Islands, Madrid and Gipuzkoa.
A provincial average hides a great deal, though. Along the Costa del Sol, prices are moving at very different speeds from one town to the next – and the latest forecasts point to steadier, more sustainable growth next year rather than a slowdown. Here is what the numbers show, and what they mean if you are thinking of buying.
Town by town: the latest Costa del Sol figures
The table below uses idealista’s average asking prices for September 2026, the latest month it has published town by town. Click a town to open our area guide.
| Town | Average asking price (€/m²) | Change over 12 months |
|---|---|---|
| Marbella | 5,967 | +3.2% |
| Benahavís | 5,602 | +6.5% |
| Estepona | 5,021 | +17.1% |
| Fuengirola | 4,452 | +1.1% |
| Torremolinos | 4,199 | +7.1% |
| Benalmádena | 4,188 | +5.1% |
| Málaga city | 3,969 | +4.1% |
| Mijas | 3,717 | +8.5% |
| Manilva | 3,043 | +11.3% |
| Málaga province | 4,317 | +6.6% |
A note on these averages: each figure is an average for the whole municipality. It covers every neighbourhood and every size, age and standard of home on the market, from older apartments set back from the coast to front-line villas. idealista’s index is based on resale homes, so new-build developments are not included. In practice, high-quality homes in prime locations, and new-build properties in particular, often sell for well above the average for their town. Land Registry figures for Málaga province show new-build homes registering about 11% more per square metre than resale homes. At the luxury end, prime homes in Marbella, Benahavís and Estepona typically reach €14,000–16,000/m², more than double the town averages above (see below).
Two things stand out. Marbella is still the coast’s most expensive address, but its prices are now rising gently, at around 3% a year – a sign of a mature market rather than an overheated one. And the west of the coast is catching up quickly: Estepona has risen by 17.1% in twelve months and Manilva by 11.3%. Estepona is now only around €580/m² behind Benahavís. Meanwhile Mijas, at €3,717/m², and Manilva, at just over €3,000/m², remain among the more affordable places to buy on this stretch of coast.
The ripple effect: inland and the Axarquía
An El Español analysis of the same idealista data shows that the biggest percentage rises in Málaga province are no longer on the Costa del Sol itself. Almayate Bajo (+28.2%), Archidona (+27.1%), Vélez-Málaga (+26.2%) and Cómpeta (+24.0%) all rose by more than a fifth in a year. These rises start from much lower levels, though: Vélez-Málaga averages €2,249/m² and Archidona €1,263/m². As coastal prices climb, demand is spreading to the towns and villages behind them.
The prime end: Marbella, Benahavís and Estepona
At the top of the market the figures are in a different league. Grupo Tecnitasa’s 2026 report on Spain’s luxury housing market, reported by Qué!, puts the usual range for prime homes in Marbella, Benahavís and Estepona at €14,000–16,000/m², with a handful of front-line beach projects above €40,000/m². Málaga province holds 32% of Spain’s supply of homes priced over €3 million, and Tecnitasa notes that luxury prices across Spain rose by 10.87% in 2025, supported by international demand and a shortage of high-end land on the coast.
Asking prices and selling prices
idealista’s figures are asking prices – what sellers are advertising. The Land Registry (Colegio de Registradores) measures prices actually recorded on completed sales. For Málaga province it shows an average of €3,254/m² over the twelve months to June 2026, up 10.8% on the year before; new-build homes averaged €3,495/m² (+10.5%) and resale homes €3,135/m² (+11.1%). The two measures are not directly comparable, but they point in the same direction: values across the province are rising, for new homes and resales alike.
Looking ahead: steady growth, not a spike
The encouraging news for buyers is that the main forecasters expect Spanish prices to keep rising in 2027, but at a calmer, more sustainable pace. BBVA Research, in its August 2026 outlook, forecasts a 12% rise in 2026 easing to 5.7% in 2027. S&P Global Ratings expects 7.4% next year and Bankinter around 4%. None of these forecasts points to falling prices.
The reasons are structural. BBVA Research estimates that Spain’s housing shortfall will grow to around 885,000 homes by 2027, as new building continues to lag behind the number of new households. Demand is supported by job and wage growth and by what it calls relevant foreign demand. For anyone buying on the Costa del Sol, that combination – limited supply, steady demand and slower, healthier price growth – is a good basis for confidence that the market will keep moving forward. Forecasts are not guarantees, of course, but the direction is clear.
What it means if you’re buying this winter
- Compare price per square metre, not just headline prices. The gap between towns is wide – from around €3,000/m² in Manilva to almost €6,000/m² in Marbella.
- Look beyond the obvious names. Mijas, Benalmádena and Manilva offer beach and airport access at lower average prices than Marbella or Benahavís.
- Weigh new-build against resale. New-build homes register at around 11% more per square metre than resale homes in Málaga province. The choice comes down to budget, specification, timing and payment schedule. Browse our new developments to compare.
- Plan your financing early. Our guide to getting a Spanish mortgage as a non-resident explains the steps.
For a fuller picture of the market, see our recent article on record foreign buying in Spain, or download our free 2026 Costa del Sol Market Report & Buyers Guide. If you would like to know how prices compare for the type of home you have in mind, a Mosaic advisor will be happy to talk it through.
Sources
- idealista/news – El precio de la vivienda usada en venta alcanza nuevo máximo en octubre (4 Nov 2026)
- idealista – Price report, Málaga province by municipality (September 2026)
- El Español Málaga – La gran subida de la vivienda en Málaga ya no está en la costa (15 Oct 2026)
- Qué! – Tecnitasa luxury housing report: Costa del Sol prices (9 Oct 2026)
- Colegio de Registradores – Estadística Registral Inmobiliaria, Q2 2026
- BBVA – BBVA Research housing outlook 2026–2027 (10 Aug 2026)
- Rankia – Previsión del precio de la vivienda en España 2027 (updated 1 Oct 2026)
This article is for general information only and is not financial advice. Figures are averages and individual properties vary.