Marbella: How is the Property Market looking in 2025? 

Antonio Guillen, Spanish Desk Partner, delves into the state of Marbella’s property market following a recent completion in the region: 

During a recent property completion in Marbella, I took the opportunity to speak with several local lawyers and estate agents about the state of the market. Their insights, supported by current research, confirmed that Marbella remains one of the most dynamic and resilient property markets on the Spanish coast. 

Several factors are driving this continued strength, from sustained international demand and limited housing supply to Marbella’s enduring allure as a lifestyle destination. 

In May 2025 the average price per square meter in Marbella reached approximately €5,162/m², marking a 9.8 % increase year-on-year compared to May 2024. It’s estimated that by September 2025, average prices had climbed further to around €5,410/m², representing a 9 % annual rise and a 3 % monthly increase in that period. 

To put this in perspective, Marbella’s average price is more than double the national Spanish average of about €2,391/m², illustrating how detached the city’s market has become from wider national trends. 

Market reports predict that the luxury real-estate segment, the driving force behind Marbella’s reputation, will continue to appreciate by 5–8 % annually throughout 2025.  

However, my discussions with local professionals suggest that the peak growth in the ultra-prime areas (such as the Golden Mile and Sierra Blanca) may have already passed. Instead, new momentum is likely shifting toward mid-range properties and peripheral zones, where prices still have room to rise. 

Even with this moderation, the growth trajectory remains exceptional, outpacing the national average and demonstrating the enduring strength of Marbella’s market fundamentals. 

Foreign Residents and Buyers: The International Influence 

Marbella’s international character is not just visible. It defines the city’s social and economic landscape. 

According to municipal data from late 2024, nearly one in three registered residents is a foreign national. Out of approximately 150,725 inhabitants, around 51,000 are non-Spanish. Having spent several days there, I can confirm that figure feels entirely accurate since it was easier to hear English, German, or French spoken on the streets than Spanish.  

The same international presence is reflected in property transactions. A recent report indicates that across the province of Málaga, foreign buyers accounted for around 34.75 % of all home purchases in early 2025.  

While property prices in Marbella are undeniably high, they are underpinned by solid fundamentals rather than speculation. Limited new land for development, consistent international demand, and strong regulatory oversight make this market structurally sound. 

Legal process and important things to consider 

Moreover, Spain’s legal framework for property ownership continues to offer investors’ confidence and security rarely matched elsewhere in southern Europe. As always, independent legal advice is paramount when buying property in a foreign country being a common misconception, often initiated by estate agents, that there is no need to have a lawyer when buying property in Spain. This is clearly not true, and while there is the figure of the Notary Public who drafts the deeds, it is extremely advisable for any buyer to have his or her own legal representation. 

My final, and personal, impression is that for investors seeking long-term stability, Marbella remains a compelling choice as it offers: 

• Reliable capital appreciation in a maturing but still growth-oriented market. 

• Strong rental potential, both in the luxury and mid-tier segments. 

• A quality of life that continues to attract high-net-worth individuals and families from across Europe, the UK and beyond. 

In short, Marbella’s market may have evolved, but it has not lost its appeal. It remains a place where lifestyle and where smart, well-advised investment continue to pay off. 

Looking to purchase property in Spain and need expert legal advice? Contact Antonio here.