Costa del Sol New-Build Property Market Report 2026: Prices, Locations & Developments

Independent market analysis by Valthera Homes | October 2026

The Costa del Sol has long attracted international property buyers, from families seeking a Mediterranean home to purchasers looking for a second residence or a long-term investment.

Yet one of the most common questions remains surprisingly difficult to answer: what does a new-build property actually cost in different parts of the Costa del Sol?

The answer depends on far more than the name of the town.

A contemporary apartment in Mijas, a hillside villa in Benahavís and a beachfront residence in Marbella may all be described as new-build properties, but they serve very different markets.

To provide a more detailed picture, Valthera Homes has analysed a commercial inventory of 1,281 residential property listings across 393 identified developments.

The dataset includes 1,146 property records in Málaga province, allowing a closer examination of asking prices, price per square metre and the distribution of developments across several established Costa del Sol locations.

This report is designed to help international buyers understand what the available figures reveal, where comparisons become misleading and which questions matter before committing to a purchase.

Key distinction: This is an analysis of advertised properties within a defined commercial inventory. It is not a survey of completed transactions, an official market census or a forecast of future property values.

1. Executive Summary: What the 2026 Data Reveals

The Costa del Sol new-build market is not a single, uniform property market.

Our analysis highlights substantial differences in advertised prices, available inventory and the types of developments represented across individual locations.

Five findings stand out.

Marbella and Benahavís occupy the upper end of the sample

Benahavís records a median advertised property price of €1,722,500, while Marbella reaches €1,250,000.

These figures reflect the composition of the properties included in the dataset. They should not be interpreted as the typical price of every new-build home in either municipality.

Mijas and Estepona account for substantial portions of the analysed inventory

The Mijas grouping contains 251 properties across 68 developments, while the Estepona grouping includes 231 properties across 65 developments.

These are among the largest location groups in our sample.

Manilva offers a different price profile

With a median advertised property price of €448,591, Manilva sits considerably below Marbella and Benahavís in this dataset.

However, a lower advertised price does not automatically indicate better value or stronger investment potential.

Price per square metre is essential, but not sufficient

Comparing total asking prices alone can be misleading when developments contain different property types and floor areas.

Price per square metre provides additional context, although differences in how developers report floor space must also be considered.

The method of comparison changes the result

A location's median price per square metre can differ depending on whether every individual property is counted equally or each development receives equal statistical weight.

For this reason, Valthera Homes presents both measures.

2. Understanding the New-Build Market on the Costa del Sol

The expression new-build property covers a wide range of residential products.

Buyers may encounter apartments under construction, completed developments, contemporary townhouses, detached villas and properties marketed before construction has begun.

Although these properties share the broad classification of new construction, they may differ significantly in specifications, delivery schedules and purchasing arrangements.

For international buyers, three distinctions are particularly important.

New-build versus off-plan

A new-build property may already be completed or approaching completion.

An off-plan property is purchased before construction has been completed, sometimes at an early stage of the development.

The contractual arrangements, payment schedule and practical considerations can therefore be different.

Asking price versus transaction price

The prices in this report are advertised asking prices.

They are not necessarily the amounts ultimately paid by purchasers.

A reliable analysis of transaction prices would require completed sales data rather than a commercial property feed.

Property listings versus developments

One residential development may contain dozens of individually advertised properties.

Counting every listing as a separate development would overstate the number of projects.

Our analysis therefore distinguishes between property records and identified developments.

3. How Much New-Build Inventory Is Represented?

The commercial dataset contains 1,281 property records across four Andalusian provinces.

The distribution is:

• Málaga: 1,146 properties

• Almería: 76 properties

• Cádiz: 55 properties

• Granada: 4 properties

Málaga accounts for approximately 89.5% of the analysed records.

Within the selected Costa del Sol locations, the inventory includes:

The Mijas grouping includes records identified as Mijas, Las Lagunas de Mijas and La Cala de Mijas. The Estepona grouping includes Estepona and Cancelada.

These are provisional groupings based on the location labels in the source inventory, rather than a complete municipality-level classification.

What does a larger inventory mean for buyers?

A larger number of listings may provide more options to compare within the analysed dataset.

It does not necessarily mean that the location has more residential construction underway than every other municipality.

The number of records depends partly on which developments are represented in the commercial feed and how many individual units have been listed.

This is particularly relevant when comparing markets with different property types and development sizes.

4. New-Build Property Prices by Location

A common starting point for international buyers is to compare the overall asking price of a property.

For this report, Valthera Homes uses the median advertised asking price.

The median is the middle value in an ordered set of prices. It is often more informative than a simple average when a dataset includes exceptionally expensive properties.

Median advertised property prices

These figures demonstrate the considerable range of asking prices within the inventory.

However, they also reveal why a straightforward ranking is not enough.

If one location contains a higher proportion of detached villas while another is dominated by apartments, the difference in total asking price may partly reflect the types and sizes of properties being compared.

A buyer looking for a two-bedroom apartment should therefore avoid using the overall median price of a villa-heavy market as a direct guide to their likely budget.

5. Price per Square Metre: A More Detailed Comparison

Price per square metre is widely used when comparing residential property markets.

In this study, the figure is calculated using each property's advertised asking price and the built area recorded in the inventory.

Properties without a valid built-area figure are excluded from the relevant calculation.

Median advertised price per square metre

Why price per square metre does not tell the whole story

A lower price per square metre does not automatically mean a better property.

Buyers should also consider:

• The exact location within the municipality.

• The type and size of the property.

• The development's specification and communal facilities.

• The amount and configuration of outdoor space.

• The property's position within the development.

• The construction stage and anticipated delivery.

• The precise definition of the advertised built area.

For example, two apartments with similar advertised floor areas may have substantially different terraces, orientations, specifications or views.

A meaningful comparison should examine those differences alongside the asking price.

6. Why We Also Compare Developments, Not Just Properties

A distinctive feature of this report is its second price-per-square-metre calculation.

Instead of giving equal weight to every individual property, we calculate a median price per square metre for each identified development.

We then calculate the median of those development-level values within each location.

This reduces the influence of developments that contribute unusually large numbers of listings to the dataset.

Median price per square metre at development level

Why does this matter?

Benahavís provides a useful example.

Its median asking price per square metre is €7,348 when calculated across individual properties.

The development-level median is €6,031 per square metre.

This difference shows that the number and composition of listings within individual developments can materially influence a location's headline statistics.

Neither calculation is inherently superior.

They answer different questions.

The property-level measure describes the middle listing in the inventory, while the development-level measure describes the middle development after each project has been summarised.

Presenting both offers a more transparent view of the available data.

7. Marbella: Understanding the Premium New-Build Market

Marbella is one of the most recognisable residential destinations on the Costa del Sol.

It is also a location where broad market averages can conceal considerable differences between neighbourhoods and property types.

The analysed Marbella inventory contains:

• 122 property records.

• 56 identified developments.

• A median asking price of €1,250,000.

• A property-level median of €6,587/m².

• A development-level median of €6,810/m².

What international buyers should consider

The Marbella market includes different residential environments, from established urban neighbourhoods to hillside developments and coastal locations.

A purchaser should therefore start with the precise area and property type rather than the municipality name alone.

The key questions are whether the development suits the buyer's intended use, what is included in the price and how the advertised property compares with genuinely similar alternatives.

For buyers considering an off-plan purchase, the construction timetable and contractual documentation are equally important.

Explore new-build developments in Marbella and discover available properties in one of the Costa del Sol's most prestigious residential destinations, renowned for its luxury homes, exclusive neighbourhoods and international appeal.

8. Estepona: A Broad Range of Residential Options

Estepona is another major location within the analysed inventory.

The provisional Estepona grouping includes 231 property records across 65 developments.

Its median advertised property price is €754,000.

The median asking price per square metre is €5,359 at property level and €5,574 at development level.

Looking beyond the location label

International buyers frequently encounter development descriptions referring to Estepona, the New Golden Mile or nearby residential areas.

These descriptions may refer to different local environments and should not be treated as interchangeable.

A more useful approach is to compare properties by their exact location, specifications, access to amenities and suitability for the buyer's plans.

This is particularly important when considering a permanent home rather than a holiday property.

Explore new-build developments in Estepona and discover available properties in one of the Costa del Sol's most attractive residential destinations, known for its modern developments, beautiful beaches and growing international appeal.

9. Mijas: Why Local Knowledge Matters

The provisional Mijas grouping contains 251 properties across 68 developments, making it one of the largest groups in the analysed inventory.

Its median advertised property price is €570,000.

The property-level median price is €4,890/m², compared with €4,760/m² at development level.

Mijas is not a single residential environment

Mijas, Las Lagunas de Mijas and La Cala de Mijas have different characteristics, despite belonging to the same municipality.

Buyers should therefore distinguish between the broader municipal statistics and the specific location of an individual development.

The right choice may depend on everyday transport requirements, access to services, the surrounding environment and the intended use of the property.

Explore new-build developments in Mijas and discover available properties in one of the Costa del Sol's most active new-build markets within our 2026 research sample, offering a wide range of residential developments, from contemporary apartments to modern villas.

10. Fuengirola: Comparing New-Build Opportunities

Fuengirola contributes 119 properties across 29 developments to the dataset.

The median advertised property price is €625,000.

Its property-level median is €4,619/m², while the development-level median is €4,948/m².

The difference between these two measures is a reminder that the composition of the available listings affects the overall statistics.

What should buyers compare?

For purchasers considering Fuengirola, a useful shortlist should include properties with comparable layouts, floor areas and specifications.

The location within the town, the surrounding infrastructure and the development's stage of construction should also form part of the assessment.

Explore new-build developments in Fuengirola and discover available properties in this vibrant Costa del Sol destination, known for its beautiful beaches, modern residential developments, excellent amenities and convenient connections to Málaga and Marbella.

11. Benahavís: Interpreting High-Value Property Data

Benahavís records the highest median advertised property price among the selected locations.

The inventory includes 48 properties across 20 developments.

The median asking price is €1,722,500, with a property-level median of €7,348/m².

At development level, the median is €6,031/m².

Why the distinction matters

A relatively small sample containing high-value properties can produce headline figures that are not representative of every buyer's options.

It would therefore be misleading to suggest that €1.72 million is the standard entry price for all new-build homes in Benahavís.

Buyers should compare individual developments and understand how property type, location and specification influence the asking price.

Explore new-build developments in Benahavís and discover available properties in one of the Costa del Sol's most exclusive residential destinations, renowned for its luxury villas, prestigious gated communities, spectacular mountain views and proximity to Marbella.

12. Manilva: A Different Budget Profile

Manilva provides a useful contrast to the higher-priced locations in the study.

The inventory contains 60 properties across 11 developments.

The median advertised property price is €448,591.

Its property-level median is €4,212/m², while the development-level median is €4,038/m².

Does a lower asking price mean better value?

Not necessarily.

A lower price may reflect differences in location, property type, specification or other characteristics.

Value should be assessed against the buyer's requirements and comparable alternatives.

For purchasers with a defined budget, Manilva may nevertheless be worth including in a wider search alongside other Costa del Sol locations.

Explore new-build developments in Manilva and discover available properties in this attractive destination on the western Costa del Sol, known for its Mediterranean beaches, peaceful residential areas and competitive property prices compared with Marbella and Estepona.

13. Benalmádena and Torremolinos: Additional Markets to Compare

The Benalmádena inventory contains 25 properties across 10 developments.

Its median advertised property price is €680,000, with a property-level median of €4,574/m².

Torremolinos contains 41 properties across 11 developments.

Its median asking price is €600,000, with a property-level median of €5,349/m².

These are smaller samples than those available for Mijas and Estepona.

Consequently, the figures should be interpreted carefully and should not be used as a substitute for examining current properties individually.

Explore new-build developments in Benalmádena and discover available properties in this attractive Costa del Sol destination, known for its beautiful beaches, modern residential developments, excellent amenities and convenient connections to Málaga city and the international airport.

Explore new-build developments in Torremolinos and discover available properties in this popular Costa del Sol destination, known for its beautiful beaches, modern residential developments, excellent amenities and convenient connections to Málaga city and Málaga-Costa del Sol International Airport.

14. Which Costa del Sol Location Is Right for You?

For international purchasers, the best location is not necessarily the one with the lowest price or the highest concentration of developments.

It is the location that most closely matches the buyer's intended use, financial circumstances and lifestyle requirements.

Buying a permanent residence

For a full-time home, consider everyday convenience, local services, transport arrangements and how the surrounding area functions throughout the year.

Buying a holiday home

For a second residence, the practicalities of travelling to and maintaining the property may be particularly important.

Buyers should also consider whether they want a quiet residential environment or a location with a wider range of nearby activities.

Buying a property for rental use

Rental potential should be assessed independently.

Advertised asking prices do not establish rental income, occupancy levels or future returns.

Buyers considering short-term letting must also check the applicable regulations, property restrictions and registration requirements before making assumptions about permitted use.

Buying for long-term ownership

Purchasers intending to hold a property for many years should consider ongoing costs, the suitability of the location and the quality of the individual development.

No location-level median can predict the future performance of a particular home.

15. Buying Off-Plan Property in Spain: What Overseas Buyers Should Check

Purchasing off-plan can be attractive to buyers who want a newly constructed property and are prepared to wait for completion.

However, the process requires careful legal and financial preparation.

Establish the identity of the developer

Before paying a reservation fee, confirm the identity of the selling entity and the development being offered.

Obtain independent legal advice

A lawyer acting independently for the purchaser should review the relevant documentation, contractual obligations and legal position of the property.

Understand the payment schedule

Off-plan purchases may involve staged payments.

Buyers should establish when each amount is due, what contractual protections apply and which safeguards are required for advance payments.

Check planning and construction documentation

The relevant permissions, project documentation and legal arrangements should be examined before entering into binding commitments.

Understand completion and handover

The anticipated delivery date should not be confused with an unconditional guarantee that construction will finish on a particular day.

Contracts should be reviewed to understand how delays and completion arrangements are addressed.

Confirm what is included

Buyers should establish whether parking, storage, appliances, furnishings or other features are included in the advertised price.

These details can materially affect the total acquisition budget.

16. Taxes and Purchase Costs for New-Build Property in Andalucía

International buyers should budget for more than the advertised property price.

In Spain, the first sale of a newly built residential property by a developer is generally subject to VAT.

For standard residential property, the usual VAT rate is 10%, although different rules may apply in specific circumstances.

Stamp duty, known as Actos Jurídicos Documentados or AJD, may also apply under the relevant regional rules.

Additional costs can include legal services, notarial and registration expenses, and any financing-related costs for which the buyer is responsible.

Tax treatment depends on the nature of the property and transaction.

A buyer should obtain an individual calculation before committing to a purchase.

A note for non-resident buyers

Purchasing property in Spain does not automatically confer a right of residence.

Immigration status, tax residence and property ownership are separate matters.

Overseas buyers should obtain appropriate advice where these issues are relevant to their plans.

17. Can Asking-Price Data Predict Future Property Values?

The short answer is no.

This report describes a snapshot of advertised new-build properties.

It does not establish how much property prices have increased or decreased during 2026.

A credible analysis of price changes would require comparable observations from different periods, using consistent methods and accounting for changes in the mix of properties being marketed.

Similarly, asking-price data alone cannot establish future investment returns.

What can this dataset tell us?

It can help identify:

• Differences in advertised prices between selected locations.

• The number of properties represented in the analysed inventory.

• The number of identified developments.

• Differences between property-level and development-level statistics.

• Areas where more detailed, property-specific comparisons may be worthwhile.

What can it not tell us?

It cannot reliably establish:

• The final prices paid in completed transactions.

• Total new-build supply across the Costa del Sol.

• Historical price appreciation.

• Future capital growth.

• Rental yields or occupancy.

• Whether a particular property is currently available.

These limitations are essential to interpreting the findings responsibly.

18. Research Methodology and Data Transparency

Valthera Homes believes that property market reporting should clearly explain where its figures come from and how they have been calculated.

Data source

Commercial inventory of new-build residential properties analysed by Valthera Homes in October 2026.

Dataset size

1,281 individual property records associated with 393 identified developments.

Geographic coverage

Properties in Málaga, Almería, Cádiz and Granada, with the main location comparisons focused on selected Costa del Sol areas.

Pricing basis

Advertised asking prices in euros.

The dataset does not provide verified completed transaction prices for this study.

Built-area calculations

Price per square metre is calculated using the advertised price divided by the recorded built area.

Records without valid built-area information are excluded from that calculation.

Property-level median

The median is calculated from the individual eligible property records within each location group.

Development-level median

A median price per square metre is first calculated for each development. The median of those development figures is then calculated for the location.

Location grouping

Mijas includes Mijas, Las Lagunas de Mijas and La Cala de Mijas.

Estepona includes Estepona and Cancelada.

These are provisional classifications based on source labels and should not be treated as a complete geographical standardisation.

Important limitations

The inventory represents a commercial sample rather than the entire market.

Listing availability and asking prices may change.

Property types, specifications and advertised floor-area definitions are not necessarily identical between developments.

Some locations have relatively small samples.

The analysis should not be interpreted as financial, investment, tax or legal advice.

19. Frequently Asked Questions

How much does a new-build property cost in Marbella in 2026?

The median advertised price among the 122 Marbella property records analysed is €1,250,000. This is a sample statistic, not the typical price of every new-build property in Marbella.

What is the average price per square metre in Estepona?

Our report uses the median rather than the arithmetic average. The median advertised price is €5,359 per square metre in the provisional Estepona grouping.

Is Mijas cheaper than Marbella for new-build property?

Within the analysed inventory, Mijas has a lower median asking price per square metre than Marbella. Individual developments may differ substantially, so equivalent properties should be compared.

Where does the report show the lowest median asking price?

Among the eight selected location groups, Manilva has the lowest median advertised property price, at €448,591.

Can foreigners buy property in Spain?

Foreign nationals can generally purchase property in Spain, subject to applicable legal requirements. Buyers should obtain advice on identification, documentation, taxation and any relevant restrictions.

Do I need a Spanish mortgage to buy a property?

No. Buyers may purchase with their own funds or use financing where available. Mortgage eligibility and lending terms depend on the lender and the buyer's circumstances.

Are new-build asking prices negotiable?

Commercial terms depend on the individual developer, property and stage of marketing. Buyers should not assume that a discount is available.

Can I reserve a property remotely?

Remote reservation arrangements may be possible, depending on the developer and the transaction. Buyers should obtain independent legal advice before signing or transferring funds.

Are taxes included in advertised new-build prices?

Not necessarily. Buyers should confirm the tax treatment and request a complete purchase-cost breakdown.

Does this report cover every new development on the Costa del Sol?

No. This report covers a defined commercial inventory of new-build properties and developments analysed by Valthera Homes. It does not represent the entire Costa del Sol property market.

Does a higher price per square metre mean better investment potential?

No. Price per square metre describes advertised pricing, not expected capital appreciation or rental returns.

20. Discover New-Build Property with Valthera Homes

Local property expertise. A clearer buying experience.

Valthera Homes specialises in new-build residential property across the Costa del Sol, helping international and Spanish buyers explore developments and compare available opportunities.

We focus on understanding what each buyer needs, whether that means a permanent home, a Mediterranean retreat or a property intended for long-term ownership.

Our approach combines knowledge of the local new-build market with personalised support throughout the property search and purchasing process.

Where required, we can help coordinate the process with independent legal and tax professionals.

Explore our new-build properties on the Costa del Sol and discover a selection of residential developments in Marbella, Estepona, Mijas, Benahavís and other sought-after locations. Our team can help you compare available properties and find the right home for your needs.

Contact Valthera Homes

Website: https://valtherahomes.com

Email: info@valtherahomes.com

Telephone and WhatsApp: +34 699 243 686

About this research

This market report has been prepared by Valthera Homes using a defined commercial inventory of new-build residential properties.

All figures refer exclusively to the analysed sample and should not be interpreted as official statistics for the entire Costa del Sol property market.