Spain closed Q1 2026 with continued buyer demand across the residential resale and new-build segments. National housing transactions registered with Spain's notaries and the Property Registrars trended above the five-year average for a first quarter, supported by stable mortgage activity and renewed foreign-buyer participation after a softer late-2025.
The Costa del Sol — and Marbella specifically — outperformed the national average on price-per-square-metre in the prime tier. New-build inventory in Estepona, Benahavis, and the Marbella corridor remained tight, with off-plan units in well-located developments often committing before formal launch. Resale homes in established communities such as the Golden Mile, La Quinta, and La Zagaleta continued to attract buyers prioritising location, privacy, and finished build quality.
Foreign-buyer share of Andalusian transactions stayed elevated through Q1. UK, Scandinavian, German, Dutch, and French buyers led activity, with growing interest from North American clients responding to currency, tax, and lifestyle factors. The Golden Visa programme, restructured during 2025, continues to shape buyer profile at the higher tiers, though most Costa del Sol buyers move for lifestyle and primary residence reasons rather than residency-investment alone.
On the seller side, Q1 favoured properties priced in line with realistic comparable sales. Listings positioned with verified market context, complete legal documentation, and finished media moved measurably faster than aspirationally priced homes. Time-on-market for well-prepared villas in the €2M–€8M band tightened versus Q4 2025; over that band, presentation and discretion of buyer matching became the dominant factors.
What to watch into Q2 2026: ECB rate signalling and how it feeds into Spanish mortgage offers, secondary inventory release as owners review summer-season pricing, and the volume of new-build completions arriving on the market in Estepona and Benahavis. We update clients individually with comparables and area-level context when the numbers matter to a specific brief.
Data sources
- Instituto Nacional de Estadística (INE) — Estadística de Transmisiones de Derechos de la PropiedadOpen
- Colegio de Registradores de la Propiedad — Estadística Registral InmobiliariaOpen
- Ministerio de Vivienda y Agenda Urbana — Estadística de precio de vivienda libreOpen
- Banco de España — Boletín Estadístico (mortgage and rate context)Open
Ask for a private market note before comparing homes, selling windows, or negotiation timing.
Request a market brief