Marbella’s Housing Market Sees 8% Increase in 2023
The housing market in Marbella has experienced an 8% increase in 2023. The real estate market in the city continues to accelerate, closing the year with an 8% rise in the average price of free-market housing, which includes both new and used properties. Over the last decade, the increase has reached 52%.
Marbella Boasts the Most Expensive Housing in Andalusia
Marbella holds the record for the most expensive housing in all of Andalusia and ranks among the top 20 in Spain. These statistics are gathered in the report corresponding to the end of 2023, recently published by the Ministry of Housing and Urban Agenda. The report provides an analysis of municipalities with more than 25,000 inhabitants.
Average Housing Price in Marbella
In Marbella, the average appraised price of free-market housing was 3,037 euros per square meter at the end of the year, maintaining the highest rate in all of Andalusia. It is followed by two other Malaga localities, Fuengirola (2,646.7 euros) and Torremolinos (2,646.2 euros).
National Ranking of Most Expensive Housing
On a national scale, Marbella ranks 17th in terms of the most expensive housing. The list is topped by Santa Eulalia del Río (Ibiza) with 4,836 euros per square meter.
Price Increase in Marbella
In Marbella, the average price has increased by 7.96% compared to the end of 2022. In the province of Malaga, the highest increase is in Torremolinos with a 14.3% rise, followed by Benalmádena (12.4%). Other cities with higher annual increases than Marbella include Malaga capital (11.6%), Fuengirola (11.1%), Estepona (11%), Mijas (10.6%), and Rincón de la Victoria (10%). Therefore, Marbella would be the eighth municipality in the province with the highest increase in housing prices. Over the last ten years, housing prices in the municipality have increased by 52%.
