Spain’s economy has once again outpaced its European neighbours, recording faster-than-expected growth in the second quarter of 2025. According to the National Statistics Institute (INE), GDP expanded by 0.8% from April to June compared to the previous quarter, an upgrade from the earlier estimate of 0.7%. On an annual basis, output rose 3.1%, well above the euro zone average of just 0.1%.
The strength of Spain’s growth rests on a broad base. Manufacturing, construction, and services all posted strong results, with tourism continuing to drive much of the momentum. For Marbella and the wider Costa del Sol, this national backdrop reinforces the region’s role as a leading beneficiary of Spain’s economic vitality. Visitor numbers have surged across Málaga and Marbella, bringing direct benefits to real estate investment, short-term rental demand, and retail infrastructure.
Perhaps most telling is Spain’s unemployment rate, which fell to 10.29% in Q2—the lowest since 2008. While still above the euro zone average, this milestone marks a clear trajectory of recovery and resilience. It also signals a labour market better equipped to support both domestic consumption and housing demand, an important factor for investors assessing long-term fundamentals in coastal markets.
The contrast with Spain’s peers is striking. Germany and Italy both contracted in the second quarter, while France managed only modest expansion. Against this backdrop, the Spanish government has upgraded its full-year GDP forecast to 2.7%—a level of growth that sets it apart as a clear out-performer within the euro zone. For foreign buyers, this adds weight to the view of Spain as a stable, expanding economy, where property investments are underpinned by favourable macroeconomic trends.
In Marbella, this climate aligns with the dynamics identified in the JUST | Q2 Market Report 2025. Demand for prime property remains resilient, driven not only by international buyers but also by a healthier national market with greater confidence and spending capacity. Rising GDP and falling unemployment translate into stronger fundamentals across the Costa del Sol, bolstering demand for both primary residences and investment properties.
Looking ahead, the revision of GDP growth for Q1 2025 from 2.8% to 3.2% reinforces a pattern of underestimated resilience. Spain is no longer a peripheral economy catching up but a driver of growth within Europe. For investors, the lesson is clear: a buoyant macroeconomic environment strengthens the case for long-term capital appreciation in real estate, particularly in markets like Marbella where lifestyle and international demand amplify the impact.
The numbers point not just to growth, but to stability. And in real estate, stability is often the most valuable asset of all.
Our latest listings
View our latest listings of luxury properties for sale, where sophistication and comfort come together for an exceptional living experience.
Wonderful south facing. two bedroom duplex penthouse located in the highly sought-after Carolina Park on Marbella’s prestigious Golden Mile
- 2 beds
- 2 baths
- Interior: 72 m²
Exceptional three bedroom apartment situated in a highly sought-after community La Carolina Park, on Marbella’s Golden Mile
- 3 beds
- 2 baths
- Interior: 72 m²
Three-bedroom townhouse with views in the best residential area of Nagueles
- 3 beds
- 3 baths
Fully renovated two bedroom, ground floor apartment in the well-known and gated community Marbella Real
- 2 beds
- 2 baths
- Interior: 94 m²
THE CAPRICHO – _ -Zona Guadalpin – Marbella – Golden Mile
- 2 beds
- 2 baths
Fantastic 3 beds apartment on The Golden Mile
- 3 beds
- 3 baths
Three bedroom, south facing duplex penthouse with sea views, located in the sought-after community of Pinos de Nagüeles, on Marbella’s Golden Mile
- 3 beds
- 3 baths
- Interior: 110 m²
Three-bedroom townhouse in a Mediterranean village-style community in Nagules
- 3 beds
- 3 baths
Charming south facing, three bedroom townhouse located in the sought-after gated community of El Capricho on Marbella’s Golden Mile
- 3 beds
- 3 baths
- Interior: 176 m²
Stunning apartment on The Golden Mile, direct access to to the beach
- 2 beds
- 2 baths
New Apartment on Marbella Golden Mile Beachfront
- 1 Bed
- 1 Bath
- Interior: 66 m²
Spectacular double apartment with 5 bedrooms for sale in Nagüeles, Marbella
- 5 beds
- 3 baths
