Málaga and Costa del Sol Property Market: September 2026
By Vantys Group — The value behind every wall
The Málaga and Costa del Sol property market enters September 2026 at a particularly interesting moment. Property prices remain at record levels, housing supply continues to be limited and international demand remains a major driving force, particularly in coastal areas and the premium property segment.
But behind the headlines lies a more complex reality. While property transactions are beginning to moderate across Spain, prices continue to rise and Málaga is following its own trajectory, supported by its strong residential appeal, investment potential and international demand.
At Vantys Group, we analyse the key market indicators to understand what is happening and, more importantly, what these figures could mean for anyone considering buying, selling or investing in property on the Costa del Sol.
Spain: record property prices and a housing supply that remains insufficient
The average property price in Spain reached €2,110/m² in June, 8.8% higher than a year earlier. For apartments, the average price climbed to €2,530/m², representing a 14% year-on-year increase.
At the same time, residential property transactions fell by 4% year-on-year. This represents the sixth consecutive decline, although the decrease is considerably smaller than the double-digit falls recorded in previous months.
The explanation is not simply a change in demand. One of the main factors shaping the Spanish property market continues to be the structural shortage of housing. Spain’s housing deficit now exceeds 800,000 homes and, for the sixth consecutive year, the creation of new households continues to outpace the construction of new properties.
This helps explain why a slowdown in the number of transactions is not necessarily translating into a widespread fall in property prices.
Málaga continues to stand out
When we look specifically at Andalusia, Málaga clearly stands out.
The appraised value of residential property in the province has reached €2,988/m², representing a year-on-year increase of 14.2%. This makes Málaga the most expensive province in Andalusia, ahead of Cádiz, Seville and Granada.
This difference illustrates why national or regional averages tell only part of the story when it comes to property investment. The province, municipality, neighbourhood and even the specific street can completely change the behaviour and value of a property.
In a market as diverse as the Costa del Sol, understanding the local market is just as important as understanding the wider trend.
The Costa del Sol and the strength of the luxury property market
Málaga’s position becomes even more significant when we look at the luxury property market.
Málaga, Madrid, the Balearic Islands, Barcelona and Alicante together account for 86% of Spanish properties valued at more than €1 million.
Furthermore, Málaga now accounts for 35% of the more than 10,500 properties in Spain valued above €3 million. In this ultra-luxury segment, international buyers represent approximately 60% of demand.
The combination of climate, international connectivity, quality of life and a high-end residential offering continues to position the Costa del Sol as a particularly attractive destination for international buyers and certain property investment profiles.
Are we facing another property bubble?
Current property prices inevitably invite comparisons with 2007. However, there are important differences between the two periods.
In nominal terms, residential property in Spain is now more expensive than at the peak of the previous property boom. However, once inflation is taken into account, real property prices remain approximately 32% below those previous highs.
The financial environment is also different. Household debt is lower, mortgage lending criteria are stricter and property developers are operating more cautiously than during the 2004–2008 period.
The forecasts included in our report point more towards a moderation than a sharp correction. For 2027, the consensus cited from CaixaBank Research and BBVA Research places annual property price growth at around 4%–5%.
The Vantys perspective
National data is important for understanding where the property market is heading. But a property decision is not made based on the Spanish average.
It is made around a specific property, in a specific location and at a specific moment.
Different property markets coexist across the Costa del Sol: primary residences, second homes, investment properties, new developments, premium properties and homes primarily aimed at international buyers.
That is why two apparently similar properties can produce very different results depending on their location, purchase price, condition, potential demand, renovation opportunities and potential for capital appreciation.
At Vantys Group, we believe our role goes far beyond simply showing properties. It is about interpreting the market, identifying opportunities and providing the information our clients need to make better property decisions.
Because behind every property there is value that is not always reflected in the asking price.
Download the Vantys Residential Property Market Report
If you would like to explore the data in greater detail, download our Residential Property Market Report – September 2026, including our analysis of the Spanish property market, price and transaction trends, the specific situation in Málaga and the outlook for 2027.
Looking to invest in the Costa del Sol?
If you are looking for an opportunity to invest in Málaga or the Costa del Sol, choosing the right property is only part of the decision. Purchase price, location, demand, potential for capital appreciation and your overall investment strategy are equally important.
At Vantys Group, we know the local market, analyse each opportunity and guide you throughout the entire process. If you are looking to invest in the Costa del Sol, we are your best option for finding a property that genuinely matches your objectives.
It is not about buying just any property. It is about finding the right one.
Let’s talk about your next investment.
📞 +34 687 948 012 · ✉️ info@vantys.es
