For a buyer with solid finances, buying a home in 2026 is still a better decision than waiting: neither house prices nor interest rates point to a drop in what remains of the year. Market data shows double-digit growth across Spain and a Costa del Sol trading well above the national average, so postponing a purchase rarely comes for free.
How much have house prices risen in Spain?
The average price of housing in Spain closed April 2026 at €2,748/m², against €2,350/m² a year earlier: a 16.9% increase in twelve months. Widen the window to five years and the cumulative rise approaches 50%, since in April 2022 the square metre changed hands at €1,829.
- April 2022: €1,829/m²
- April 2023: €1,963/m²
- April 2024: €2,098/m²
- April 2025: €2,350/m²
- April 2026: €2,748/m²
Behind that trajectory there is no passing fashion, but four structural forces that remain in play: a clearly insufficient supply of new-build homes, purchases by foreign buyers, growth in the resident population, and the multiplication of single-person households, which require more homes for the same number of people.
Is Euribor expensive right now?
Euribor closed April 2026 at 2.747%, six tenths above the 2.143% of a year earlier. That is a genuine increase, but it deserves context: through 2023 and much of 2024 the index moved between 3% and 4%, so anyone signing a mortgage today does so on noticeably better terms than two years ago.
What matters for your decision is that nobody in the industry expects aggressive cuts in the short term. Waiting for a much lower Euribor means betting on a scenario that is not currently on the table, while house prices keep running. If you are torn between your usual bank and negotiating through an intermediary, our blog has a detailed comparison of mortgage brokers versus traditional banks.
So what is happening on the Costa del Sol?
This is where the national debate stops being useful. According to our July 2026 market report, built from the 8,787 homes for sale in our portfolio, the median price on the Costa del Sol is €650,000 and the square metre trades at €4,607: 68% above the Spanish average.
| Municipality | €/m² (July 2026) | Vs. national average |
|---|---|---|
| Marbella | €5,819 | ×2.1 |
| Fuengirola | €5,300 | ×1.9 |
| Estepona | €4,612 | ×1.7 |
| Benalmádena | €4,413 | ×1.6 |
| Mijas | €4,104 | ×1.5 |
| Manilva | €3,172 | ×1.2 |
| Spain (April 2026) | €2,748 | Benchmark |
That gap is no statistical quirk: it reflects the fact that the Malaga coast competes in an international market, with northern European buyers who do not depend on the Spanish mortgage cycle. This is why the corrections some analysts foresee for 2027 tend to concentrate on overpriced inland stock, rather than on established front-line locations.
What does waiting a year actually cost?
It is worth doing the arithmetic. Take the Costa del Sol median of €650,000, with a 20% deposit and a 25-year mortgage at 3.75% (current Euribor plus a typical 1% margin). These are the three scenarios, holding the rate constant to isolate the price effect:
| Scenario | Price | Deposit (20%) | Monthly payment | Extra cost over 25 years |
|---|---|---|---|---|
| Buy today | €650,000 | €130,000 | €2,673 | Benchmark |
| Wait 1 year (+5%) | €682,500 | €136,500 | €2,807 | +€40,200 |
| Wait 1 year (+10%) | €715,000 | €143,000 | €2,940 | +€80,100 |
This is an illustrative exercise, not a forecast, but it makes the asymmetry clear: even in the mildest scenario, waiting twelve months adds around €6,500 to the deposit and more than €40,000 to the total cost of the loan. For waiting to pay off, prices would have to fall, and no significant voice in the sector currently expects a generalised decline.
What do industry experts say?
The consensus among the professionals consulted is one of moderation, not correction. Miguel Ángel Gómez Huecas, president of FADEI, expects a phase of greater stability and rules out a generalised fall: adjustments, he notes, will be confined to overvalued homes, and the decision should rest above all on the buyer's personal circumstances.
Álvaro Basanta, spokesperson for SEAG, points the same way: the likely outcome is a slower rate of growth, not falling prices, because supply remains insufficient in the major cities. And Emiliano Bermúdez, deputy general manager at donpiso, sums up the practical advice: although the climb will struggle to keep its current pace, it is unwise to delay the decision hoping for a better scenario.
When does waiting actually make sense?
It would be dishonest to sell the idea that buying is always right. Waiting is reasonable if your employment situation is unstable, if you have not yet secured the deposit plus purchase costs (an extra 10% to 13% in Andalusia), or if the resulting payment would comfortably exceed a third of your net income.
There is also a policy factor in play: the 2026-2030 State Housing Plan may improve access to financing in the coming years, although its effects will take time to show and are not expected to alter the coastal second-home market.
If, on the other hand, you have the finances, the stability and a horizon of at least five years, the data favours buying sooner rather than later.
Conclusion
The 2026 question is less about buying versus waiting and more about whether you are in a position to buy. If the answer is yes, the current picture, with rising prices, rates contained against the 2023 peaks and no forecast of a drop, turns delay into paying more for the same thing.
At EVS PROPERTY GROUP we work with these numbers town by town, every day. If you want to know what your budget buys today in Marbella, Estepona or Mijas, get in touch and we will put together a shortlist tailored to your situation, with no obligation.
Frequently asked questions
Will house prices in Spain fall in 2027?
No industry body or association currently forecasts a generalised fall. The consensus scenario for 2027 is a slowdown in the rate of growth, with isolated adjustments limited to overvalued homes or areas with weaker demand.
Is it better to buy now or wait for Euribor to fall?
If house prices rise faster than Euribor could fall, waiting is expensive. You can also refinance or switch your mortgage later if rates come down; what you cannot do is buy at a price that has already gone.
How much does a square metre cost on the Costa del Sol?
In July 2026 the median across our portfolio stands at €4,607/m², with Marbella at €5,819/m² and Manilva at €3,172/m². We update the town-by-town price report every month.
Can non-resident foreigners buy property in Spain?
Yes, without restrictions and without needing residency. All you need is an NIE number, a Spanish bank account and, if financing, a non-resident mortgage, which typically covers up to 60-70% of the value.
What costs must be added to the purchase price in Andalusia?
Budget an extra 10% to 13%: 7% transfer tax on resale homes (or 10% VAT plus stamp duty on new-builds), notary, land registry, administrative fees and, where applicable, valuation and mortgage arrangement charges.
What next? The most useful thing after reading is to look at the real market: browse properties by city or tell us on WhatsApp what you are looking for — area, budget, timing — and we will prepare a tailored selection, with no obligation.
You may also find useful: sell your property invest on the Costa del Sol free valuation monthly price report
