Market · 2019
Property prices in Marbella and Benahavís keep rising: the market in early 2019
Prices keep rising along the coast from Estepona to Málaga, but I am keeping an eye on inventory and on the number of transactions.
SHORT ANSWER
In early 2019 the official price index and Fotocasa both showed rising prices in Marbella and Benahavís, with a slight reduction in transactions and more homes for sale. Portal asking prices run about 17% higher than the official index, because they are asking prices, not closing prices. Competitive pricing was key to selling.
IN THIS ARTICLE
This is the market as I saw it in March 2019. It is an archive article, so the figures are not current.
What do the official index and Fotocasa show?
The Ministry of Housing recently published the price index, which shows further increases along the coast from Estepona to Málaga. I double-checked these numbers against the price index of Fotocasa, one of the best real estate portals in Spain, and the trend is also upwards.
Why is the price per square metre different on the portals?
Prices on the real estate portals are asking prices, so they are higher than actual closing prices. In general, that difference is about 17% above the official price index. It is the same reason that explains why asking and closing prices are still worth comparing today.
What is happening with transactions and inventory?
In Marbella and Benahavís we have rising prices, a slight reduction in the number of transactions and an increasing number of properties for sale. The market is still in good condition, but we have to keep an eye on inventory and on the number of transactions. The transactions figure, due at the beginning of March, is the one that shows how strong the market is.
The first indications are that transactions fell by about 10% in the province of Málaga compared with the previous quarter. We will have to review the detail to see where, and by how much, compared with the same period of the previous year.
What does it mean for sellers?
It is the same situation we saw last year: strong competition. To be able to sell, it is very important to have competitive pricing, and new developments are coming that will increase the inventory even more.
To be able to sell, it is very important to have competitive pricing.
Alfonso Lacruz, 2019
Archive article from March 2019. For current data, read the Costa del Sol market in Q1 2026.
Frequently asked questions
Why are portal prices higher than the official index?
Because portals show asking prices, not closing prices. In general, in early 2019, they ran about 17% above the official price index.
Were prices rising in Marbella and Benahavís in 2019?
Yes. Both the Ministry of Housing index and the Fotocasa index showed rising prices, although transactions were slightly down and inventory was growing.
What was the key to selling in 2019?
Competitive pricing, in a market with strong competition and new developments about to add more inventory.
About the author
Alfonso Lacruz
Naval engineer and market analyst. Over 25 years advising owners in Marbella and Benahavís. Publishes a monthly market analysis with Land Registry data.
The figures are indicative and every property is different: for a specific number, ask for a valuation of your home.
Sources: Ministry of Housing price index; Fotocasa price index; first indications of transactions in the province of Málaga (early 2019); own analysis. Last updated: 13 March 2019.
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