Property News

Estepona vs Marbella: Is the Property Market Gap Closing in 2026?

“For decades, Marbella has stood as the Costa del Sol’s benchmark for luxury real estate and international prestige, while Estepona was known for its traditional Andalusian character and more modest residential and tourism profile.

Over the past ten years, however, that balance has begun to change. Estepona has evolved from a quieter alternative into one of the region’s most dynamic growth centres, with rising sales volumes, increased development activity and growing market visibility.

The question is no longer whether Estepona is emerging, but how significant this shift really is — and what it means for the future of both municipalities within the Golden Triangle.”

Our latest market report examines how and why this relationship has evolved, and whether Estepona is truly closing the gap.

The Key Findings

The data tells a clear story.

Between 2015 and 2025, property sales in Marbella grew by 19%. In Estepona, they grew by 50%.

Marbella remains larger in absolute volume and continues to command higher average prices per square metre. However, Estepona’s rate of growth has been significantly stronger.

Price evolution shows a similar pattern. Since the pandemic, price increases in both towns have moved broadly in parallel. The historic gap has narrowed.

Tourism figures also reveal a notable shift. Estepona has expanded its share of hotel stays within the Golden Triangle, reflecting its growing appeal as a lifestyle destination.

The conclusion is not that Marbella has weakened — but that Estepona has strengthened.

What Is Driving Estepona’s Momentum?

Several structural factors explain this acceleration.

Estepona has benefited from a more agile planning process, which has attracted a substantial volume of new development. It has also had greater availability of buildable land in recent years, allowing projects to move forward more easily.

At the same time, the town has invested heavily in infrastructure, public spaces and amenities. The pedestrianised Old Town, upgraded marina, new cultural facilities and healthcare improvements have all contributed to a repositioning of the municipality.

Importantly, Estepona still offers more property for the same budget when compared to prime Marbella. That relative value — combined with improving quality — has strengthened its appeal to investors and long-term residents alike.

Where Marbella Still Leads

Marbella remains the benchmark for ultra-prime property.

The Golden Mile, Sierra Blanca and Nueva Andalucía continue to command the highest values and hold the strongest international brand recognition. Limited supply in these areas supports exclusivity.

In other words, Marbella’s position at the top of the hierarchy remains intact.

What has changed is the distance between the two.