Spanish resale house prices rose 12.5% year on year in August 2026, capping 20 consecutive months of double-digit annual growth, according to the idealista/data index. The news is in the short-term figure: for the first time in 43 months, prices fell month on month, by 0.3%. On the Costa del Sol the contrast is stark: the median asking price in our own portfolio stands at €4,657/m², 59% above the national average of €2,924/m².
How fast are house prices rising in Spain?
The index closed August at an average of €2,924/m², up 12.5% on the year. That is twenty straight months above 10%, an unprecedented run in the recent series. Over the last quarter the increase was 1.5%.
One methodological caveat: in July 2026 the portal revised its index to exclude holiday and seasonal rentals and to sharpen its detection of outliers, applying the change retroactively across the whole historical series. Internal comparisons are consistent, but they no longer match exactly the figures published before that adjustment.
| Region | Annual change |
|---|---|
| Cantabria | +17.2% |
| Castilla-La Mancha | +16.4% |
| Aragón | +15.4% |
| Catalonia | +12.9% |
| Spain (average) | +12.5% |
| Andalusia | +10.9% |
| Madrid | +7.0% |
| Canary Islands | +6.7% |
| Balearic Islands | +5.1% |
Andalusia sits slightly below the national average at 10.9%. The pattern is clear: the steepest rises are concentrated in inland and northern regions starting from a very low base, while the country's two most expensive markets are slowing. The Balearics (€5,595/m²) posted the smallest increase of any region, followed by the Canary Islands (+6.7%) and Madrid (€5,059/m², +7.0%).
What does the first monthly drop in 43 months mean?
August closing 0.3% below July breaks a run of more than three and a half years without a single monthly fall. It is tempting to read it as the top of the cycle, but one isolated month is not a trend, least of all August.
- This measures asking prices, not deeds: it tracks what sellers request, not what is signed at the notary.
- The Spanish August distorts everything: fewer new listings, fewer upward revisions and a portfolio mix unlike the rest of the year.
- The year-on-year figure, far more stable, remains in double digits: the market has not changed direction, at most it has eased off the accelerator.
- It would take September and October falling back to back before talk of a turning point has any real basis.
How does the Costa del Sol compare with the national average?
Here the gap is enormous. Malaga province ended August at €4,293/m², the fourth most expensive in Spain, behind only the Balearics, Madrid and Gipuzkoa. Drilling down into the Costa del Sol, our own sales portfolio — 8,810 homes as of today — shows a median of €650,000 and €4,657/m².
| Municipality | Median price | €/m² | Listings |
|---|---|---|---|
| Benahavís | €1,195,000 | 5,439 | 643 |
| Marbella | €955,000 | 5,972 | 2,197 |
| Estepona | €649,000 | 4,689 | 1,435 |
| Málaga city | €625,000 | 4,684 | 394 |
| Benalmádena | €595,000 | 4,428 | 412 |
| Fuengirola | €575,000 | 5,387 | 698 |
| Mijas | €549,000 | 4,213 | 1,247 |
| Torremolinos | €488,000 | 4,395 | 167 |
| Casares | €450,000 | 3,311 | 273 |
| Manilva | €369,500 | 3,206 | 356 |
| Costa del Sol (overall) | €650,000 | 4,657 | 8,810 |
These figures come from our Costa del Sol market report, recalculated every month from the live sales portfolio. Benahavís and Marbella set the ceiling; Manilva, Casares and the inland municipalities remain the entry point for tighter budgets. Note one nuance: Fuengirola shows a moderate median price but a very high €/m², because small beachfront apartments dominate the stock.
Should you buy now or wait for prices to fall?
It depends on what you are buying and why. For anyone looking for a home on the Costa del Sol with a multi-year horizon, waiting for a broad correction is a risky bet: new-build supply still falls short of demand, and foreign buyers underpin a very significant share of the market in Málaga.
- If you are buying to live in, the cost of waiting — rent paid plus accumulated price growth — usually outweighs any hypothetical discount.
- If you are buying to invest, the margin no longer lies in automatic appreciation: it lies in picking the right area, condition and entry price.
- Negotiation is real. On resale stock that has been listed for several months, there is a genuine gap between asking price and closing price.
- Watch out for overpriced stock: when a market cools, the first thing to stall is whatever was expensive for what it offered.
Conclusion
The headline is that Spanish housing has strung together 20 months of double-digit rises; the small print is that August brought the first monthly fall in 43 months. On the Costa del Sol, with a median of €4,657/m² and supply growing more slowly than demand, this remains a seller's market — though with a little more room to negotiate than a year ago. If you are weighing up buying or selling in Marbella, Estepona, Mijas or Málaga, EVS PROPERTY GROUP will give you the read on your area with data, not headlines.
Frequently asked questions
How much have Spanish house prices risen in 2026?
By 12.5% year on year in August 2026, to an average of €2,924/m², according to idealista/data. It was the twentieth consecutive month with annual growth above 10%.
Are Spanish house prices falling?
Not in annual terms. August recorded a 0.3% monthly decline, the first in 43 months, but the year-on-year comparison remains in double digits. A single month — and August at that — does not mark a change of trend.
How much does a square metre cost on the Costa del Sol?
The median across our sales portfolio is €4,657/m², with Marbella at €5,972/m² and Benahavís at €5,439/m². Málaga province stands at €4,293/m² according to idealista.
Is Andalusia rising faster than the Spanish average?
No, slower. Andalusia rose 10.9% year on year in August against 12.5% nationally. The steepest increases are in regions with low starting prices, such as Cantabria (+17.2%) and Castilla-La Mancha (+16.4%).
Is it a good time to buy in Marbella?
For your own use and a long horizon, yes: supply remains limited and foreign demand is solid. For pure investment, today's margin comes from buying well, not from waiting for automatic appreciation.
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
