A study by Fotocasa reveals that three municipalities on the Costa del Sol, Marbella, Estepona and Fuengirola, have seen housing prices double and even triple in the last five years, exceeding €5,000 per square metre.
Buying a house on the Costa del Sol has become a luxury accessible to very few. According to a report by Fotocasa, three municipalities in the province of Málaga, Marbella, Estepona and Fuengirola, now exceed €5,000 per square metre, a figure that places them among the most expensive coastal destinations in Spain, alongside locations such as San Sebastián or Ibiza.
The study, which analyses housing prices in Spanish coastal cities during the past month of June, places Marbella at the top of the province with an average price of €5,767 per square metre. This represents an increase of 89% in the last five years. Thus, a typical 80-square-metre flat in the coastal city costs on average €461,393.
Next is Estepona, with an average price of €5,199 per square metre, 107.20% more than in 2021. Acquiring an 80-square-metre property in this locality requires an outlay of €415,889. Meanwhile, Fuengirola reaches €5,098 per square metre, with an increase of 91.40% in the same period. A standard flat in this city costs €407,860.
The keys to the price surge
María Matos, director of Studies and Spokesperson for Fotocasa, explains that housing on the Spanish coast has ceased to be a holiday destination and has become one of the markets with the highest price pressure in the country. The reason, according to the expert, is a combination of two factors: an increasingly scarce supply and a growing demand driven by strong international appeal.
In the case of the Costa del Sol, the pull of luxury tourism and the arrival of foreign buyers, especially from Nordic countries and Central Europe, have driven prices up. Demand far exceeds supply, and new real estate developments are failing to balance the market. For residents of these municipalities, the situation is becoming increasingly complicated: many young people and middle-income families are forced to seek housing in inland towns or to rent, with rents also on the rise.
Contrast with other coastal areas
While Marbella, Estepona and Fuengirola top the list of the most expensive, at the opposite end are towns like Lepe (Huelva), with €1,133 per square metre, or Algeciras (Cádiz), with €1,560. In the province of Málaga, inland municipalities like Antequera or Ronda maintain more affordable prices, although they have also experienced increases in recent years.
For the average buyer, the Costa del Sol has become an almost inaccessible market. Experts recommend exploring alternatives on the coasts of Huelva or Almería, where prices are up to five times lower. However, those who can afford the luxury of living by the sea in the province of Málaga will have to dig deep into their pockets.
What to expect in the future?
Forecasts indicate that prices will continue to rise, at least in the short term, due to land scarcity and international interest. The local councils are trying to attract investment in affordable housing, but the measures take time to show results. In the meantime, the dream of owning a house on the beach in the Costa del Sol remains, for most, just that: a dream.
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