JUST Real Estate has officially released its Property Market Report Q3 2025, providing a detailed analysis of the current conditions across Marbella, Estepona and Benahavís. The report tracks price evolution, buyer demographics, sales volumes and rental trends to deliver an authoritative snapshot of the region’s housing sector.
Our private clients and newsletter subscribers were the first to receive early access last week through our weekly newsletter, giving them an advance opportunity to review market data and projections before today’s public launch. The release underscores JUST Real Estate’s commitment to transparency and in-depth reporting for investors, homeowners and industry professionals.
Market stabilisation after years of exceptional growth
The market report Q3 2025 confirms that after two years of record expansion, the region has transitioned into a more stable, sustainable phase of growth. Prices remain at historic highs, supported by persistent international demand and limited prime inventory, yet the rapid double-digit surges seen in 2022 and 2023 have moderated.
Across Marbella, Estepona and Benahavís, the overall market demonstrates resilience despite broader economic uncertainty in Europe. While national figures show a slowdown in transactions, the Costa del Sol continues to outperform the rest of Spain, driven by lifestyle relocations, cash-based purchases and the area’s enduring global appeal.
Key findings from the Q3 2025 report
The report highlights strong fundamentals across the “Golden Triangle”:
Marbella
Property prices in Marbella climbed to an average of €3,538 per square metre, reflecting an 18% annual increase—well ahead of the national average of +12%. Sales volumes held steady despite rising selectivity among buyers. Nearly 80% of all purchases were made by international clients, led by British, Dutch, Swedish and German nationals. Well-priced listings in prime areas such as the Golden Mile and Sierra Blanca continue to sell quickly, confirming ongoing depth of demand.
Estepona
Estepona retained its reputation as the region’s most active development hub. Transaction volume reached roughly 900 sales during Q3, while the average asking price rose to €4,050/m², up 13% year-on-year. Rental yields for quality apartments averaged 5–6%, underpinned by tight supply and high occupancy levels. New developments along the New Golden Mile and Selwo remain in high demand, demonstrating strong absorption rates for contemporary product.
Benahavís
Benahavís maintained its position as one of Spain’s most exclusive residential markets, recording average prices of €5,400/m²—a 16% increase compared with last year. Long-term rents also hit record levels at €20.2/m² per month, the highest in Málaga province. Resales dominated transactions, representing 85–90% of total sales, reflecting the scarcity of new projects. The municipality continues to attract affluent international buyers seeking security, privacy and panoramic mountain-to-sea views.
Rental growth and investment outlook
Rental markets across the Costa del Sol remain tight, with long-term supply under pressure from strong tourist demand and limited availability. Marbella’s average rent rose to €19.5/m²/month, while Estepona and Benahavís followed closely behind. Investors purchasing for rental income are achieving average gross yields around 4.8%, supported by steady occupancy and rising rates.
From an investment perspective, the Costa del Sol property market report Q3 2025 paints a picture of enduring confidence. Buyers are more selective, but activity remains driven by lifestyle motivations and long-term value. Mortgage reliance is low, with many transactions completed by cash buyers, insulating the market from the full effect of interest-rate movements.
A measured but confident outlook
Looking ahead to Q4 2025, the report projects continued resilience with a shift toward measured, sustainable growth. External pressures such as higher financing costs and global economic uncertainty may temper sentiment, but the underlying fundamentals—limited supply, strong foreign demand and consistent rental performance—remain firmly supportive.
Marbella, Estepona and Benahavís together define a maturing, globally sought-after real estate corridor. For investors, this period of stabilisation represents an opportunity to secure premium assets before the next growth cycle begins.
Download the full report
The Costa del Sol Property Market Report Q3 2025 is now available for download through our website. It includes full statistical tables, trend analysis, and insight from the JUST Real Estate research team.
Research enquiries:
James Evans — Managing Partner
📞 +34 643 390 376 | ✉️ james@justrealestate.es
Sales enquiries:
Alina Nouaimeh — Partner
📞 +34 600 689 749 | ✉️ alina@justrealestate.es
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Read the Full Q3 2025 Report
Read the complete findings in the Marbella property market report for Q3 2025, when average values reached €3,538 per square metre, up close to 18 per cent annually.
This edition also covers Estepona and Benahavis, which behave very differently to Marbella. Read the Estepona analysis and the Benahavis analysis for those municipalities.
