Marbella, September 2025 – JUST Real Estate has released its Q2 2025 property market report, confirming another resilient quarter across Marbella, Estepona, and Benahavís. With more than 2,450 transactions recorded, sales volumes remained ahead of 2024 levels, underpinned by strong international demand and limited supply.
In Marbella, activity remained concentrated in prime areas such as the Golden Mile and Sierra Blanca. Around 1,200 properties were sold in Q2, with average asking prices reaching €5,170 per square metre — almost 10% higher than a year ago. Villas and penthouses above €2 million continued to attract cash-rich buyers, keeping momentum in the luxury segment.
Estepona delivered one of the strongest results on the Costa del Sol. With approximately 1,000 sales — more than 50% above last year — the town saw prices climb to €3,874 per square metre, driven by demand for new-build homes and expanding infrastructure such as the extended beachfront promenade and new schooling options.
Benahavís reaffirmed its position as the ultra-prime enclave. Around 250–280 transactions were completed, mostly resales, with average prices at €4,963 per square metre. Prestigious gated communities including La Zagaleta and El Madroñal remained the benchmark for exclusivity and long-term stability.
JUST Real Estate’s report highlights that international buyers continue to dominate, led by Scandinavia, the UK, Benelux, and Germany, alongside growing demand from the US and Middle East. Over half of all transactions were closed without mortgages, reflecting the financial strength of the buyer base.
The outlook for the second half of 2025 remains positive. Marbella is expected to maintain its leadership in the luxury segment, Estepona will continue attracting value-driven buyers through its new developments, and Benahavís will reinforce its role as the benchmark for ultra-prime gated estates.
JUST Real Estate’s full Q2 2025 Market Report is now available to download via justrealestate.es.
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Read the Full Q2 2025 Report
Read the complete findings in the Marbella property market report for Q2 2025, covering average values above 5,000 euros per square metre, record foreign buyer share and a 59 per cent rise in Estepona transactions.
This edition also covers Estepona and Benahavis, which behave very differently to Marbella. Read the Estepona analysis and the Benahavis analysis for those municipalities.
