The Marbella real estate market in 2025 is set to thrive, with property prices rising and continued demand for luxury real estate investments. In this report, we analyze Marbella property trends, investment hotspots, and buyer demographics shaping the Costa del Sol property market in 2025.

• Table of contents
• Marbella Real Estate Trends 2024: Market Growth & Demand Shifts
• Marbella: The Best Overall Destination 2024
• Who’s Buying in Marbella? Changing Luxury Property Demographics 2024
• Marbella Real Estate Market Sentiment for 2025
• Best Areas to Invest in Marbella Real Estate in 2025
• 2025 Trends in Design and Development
• The Removal of The Golden Visa
• Advice for Buyers and Investors in 2025
• Challenges for Buyers and Investors in 2025
• Smart Investment Strategies
• Advice For First Time Buyers
• Our Passion: The Marbella Lifestyle
• The Future of Homerun Brokers

As we look back on the 2024 real estate market in Marbella, it’s clear that the year was marked by growth, challenges, and opportunities. At Homerun Brokers, we saw a substantial increase in turnover, underscoring Marbella’s continued appeal as one of the most sought-after destinations for property buyers. To provide a deeper understanding of the market’s performance and the year ahead, we sat down with Roger Widen, Head of Sales at Homerun Brokers, to gain his insights and forecast for Marbella’s real estate landscape in 2025.

“The Marbella real estate market in 2024 was another strong year,” says Roger. “At Homerun Brokers, we saw an impressive 30% increase in turnover, which really highlights the continued demand and interest in Marbella properties. Supply was down by 9%, and prices increased by nearly 14%, so the market remains solid, although we saw a stronger first half of the year.” Various factors contributed to this seasonal slowdown, including adverse weather conditions—such as unusually heavy autumn rains—and broader global events that impacted travel patterns. Roger explains, “Many potential buyers postponed their decisions, choosing to wait for a more stable 2025 market environment.”

In 2024, Marbella was honored as the "Best European Destination," a title awarded by the European Best Destinations (EBD) organization, as reported by Forbes. This accolade was determined through a survey in which over a million travelers from 172 countries participated, marking the first time a Spanish city has received this distinction. 

Regarding population growth, Marbella has experienced a significant increase over the past decade. As of January 1, 2024, the city's population reached 159,000 residents, according to Spain's National Statistics Institute (INE).  This growth underscores Marbella's appeal not only as a premier vacation destination but also as an exceptional place for year-round living.

When compared to other luxury markets such as the French Riviera, Monaco, and Miami, Marbella continues to offer excellent value for money. This makes it an attractive choice for international buyers seeking both second homes and permanent residences.

While Scandinavian buyers have long been a dominant force in the Marbella real estate market, 2024 saw a shift. “We did see some hesitation from Scandinavian buyers,” Roger shares. “Rising interest rates and a weaker Swedish currency have made them more cautious, but we’ve seen other nationalities like Polish, Canadian, and American buyers stepping in to fill the gap.”

Despite these changes, Marbella remains a global hub for property investors, with buyers hailing from over 153 countries. “Marbella continues to be an international destination, and when one group shows hesitation, others tend to step in and keep the market active,” Roger adds. With interest rates expected to decline in 2025, Roger anticipates a return of Scandinavian buyers. “As interest rates come down, we expect Scandinavian buyers to return, restoring their purchasing power. That being said, we are still seeing great interest from other countries as well.”

The mood for the 2025 market is overwhelmingly optimistic. January 2025 saw a record amount of activity, signaling a strong start to the year. Traditionally a slower month, the rapid pace in January suggests that demand will remain high throughout 2025. “2025 started as the strongest January we’ve seen,” Roger comments. “Agents are extremely busy, and we’re seeing a lot of activity early on, which is very promising for the rest of the year.”

Interest rates have been a focal point in recent years, especially in the luxury property segment (€2M+), where only 10% of buyers rely on mortgages, as stated by JP Morgan. However, as interest rates decline, the €2M–€5M segment is expected to regain momentum in 2025. “Interest rates have been a key discussion point,” Roger explains. “But with rates coming down in 2025, we expect more buyers in the €2M–€5M range to enter the market again.”

While established areas like Nueva Andalucía, the Golden Mile, and Zagaleta remain highly sought after, newer locations like El Madroñal are emerging as hotspots. “El Madroñal is definitely an area to watch in 2025,” says Roger. “After years without new development, we launched Villa Five. A brand new El Madroñal villa, sold at record speed, and there are several new luxury properties in the pipeline.” In addition, the “New Golden Mile” between Marbella and Estepona, along with the “Golden Triangle” comprising Marbella, Estepona, and Benahavís, continue to attract interest from buyers and developers alike.

In 2025, we expect a continued shift in design trends. Internationally renowned architects are increasingly making their mark on Marbella’s luxury market, introducing more diverse and innovative styles. Roger comments, “We are definitely moving away from the traditional ‘white box’ villas. More and more, we’re seeing a shift towards homes that combine luxury with functionality, incorporating sustainable features and smart home technology.”

Economically, experts predict price increases between 5% and 10%, fueled by rising construction costs, which are now reflected in new developments. As demand for high-quality properties continues to outpace supply, the luxury market in Marbella remains one of the most attractive real estate sectors in Europe.

While Spain’s decision to phase out the Golden Visa may affect some segments of the real estate market, its overall impact on Marbella is expected to be minimal. Roger explains, “The Golden Visa has not been a significant factor for us at Homerun Brokers. While it is unfortunate that the program is being phased out, it won’t have a big impact on the Marbella market. Marbella remains a sought-after destination for international buyers.”

For those looking to invest in Marbella real estate, timing is critical. Prices are expected to continue their upward trajectory, making 2025 an excellent time to secure prime properties before prices rise further. Various financial institutions and real estate experts forecast that property prices in Spain will rise between 4% and 6% in 2025. For instance, CaixaBank Research anticipates a nominal growth of approximately 4%, while S&P Global projects a 4.5% increase. These projections are influenced by factors such as economic stability, declining interest rates, and sustained demand.  Roger advises, “The best time to buy real estate was yesterday, the second-best time is today. Prices will keep rising, and securing a good deal now is key. For developers, the formula remains clear: high-quality properties in prime locations at competitive prices sell fast.”

“The best time to buy real estate was yesterday, the second-best time is today."

The biggest challenge for buyers and investors in 2025 is the uncertainty in global markets. “Political and economic shifts can affect the real estate market, but Marbella has proven to be a resilient market,” Roger says. “Over the years, we’ve seen it survive financial crises, the pandemic, and other disruptions, all while maintaining its appeal.”

The Marbella market offers numerous opportunities for investors, especially for those interested in long-term rental income. “For long-term rental income, properties in prime, walkable locations are always in demand,” Roger notes. “Villas are especially appealing due to ongoing discussions surrounding short-term rental regulations. Developers should focus on prime land acquisition and high-quality renovation projects.”

At Homerun Developments, we specialize in identifying high-margin investment opportunities, ensuring that our clients receive strong returns with minimal stress. Our in-depth market research and experience in project selection help investors navigate the Marbella real estate landscape with confidence. Read more about this in our investment guide.

For first-time buyers, selecting the right agent is key to a successful property search. “Choose an agent who listens to your needs and understands your goals,” Roger advises. “A good agent will help you filter through the market and find the best property for you. And if financing is needed, securing mortgage approval early ensures you can act quickly when the right property comes up.”

• Choose an agent with care
• Secure mortgage ahead of time if needed

Marbella offers a unique blend of luxury, culture, and natural beauty, making it a destination where lifestyle and real estate intersect. The area’s world-class amenities, stunning landscapes, and vibrant community create an environment where living well extends far beyond the property itself.“What motivates me every day is the opportunity to work with incredible properties and meet fascinating people,” Roger shares. “We’re not just selling homes; we’re helping our clients realize their dream lifestyle in one of the best places to live in the world.”

2024 was a year of strategic investment for Homerun Brokers, expanding our team, office spaces, and systems to improve our service. In 2025, we are excited to see the fruits of our efforts, particularly with our continued expansion into Mallorca. “2025 is going to be our most ambitious year yet,” Roger concludes. “We’re excited to continue helping our clients find their perfect properties in Marbella.”

"2025 is going to be our most ambitious year yet"

As we move further into 2025, the Marbella real estate market continues to thrive. With strong demand, favorable economic conditions, and increasing interest from international buyers, 2025 is an exciting year for both buyers and investors. “Whether you’re looking to invest in Marbella real estate or explore luxury properties for sale, now is the time to act.”

Want to know more about Marbella’s 2025 real estate market? Watch the full interview with Roger Widen or contact our team for exclusive listings, market insights, and personalized investment opportunities in 2025!