A House for Less Than an Apartment? In Estepona, Yes
The door is open: in Estepona a New Build townhouse costs 4% less per square metre than a New Build apartment. On 18 September 2026 the median was €4,927 per m² for townhouses and €5,130 for apartments. Villas cost €5,753.
Buying in Estepona, you do not have to choose between price and your own front door. Townhouses offer a private entrance, a garden or roof terrace depending on the project and more space for the family, at a lower price per square metre than the apartment in the development next door. And all this in a town whose property has become worth almost three times as much in ten years.
Townhouses in Estepona cost 4% less per square metre than apartments
| Property type | New Build per m² | Units | Projects |
|---|---|---|---|
| Villas | €5,753 | 115 | 44 |
| Apartments | €5,130 | 645 | 68 |
| Townhouses | €4,927 | 84 | 6 |
| All property types | €5,145 | 840 | 118 |
Townhouses are 4.0% below apartments, villas 12.1% above. That puts €826 per square metre between the least and the most expensive property type. Apartments make up the largest supply with 645 of 840 units, spread across 68 projects.
The townhouse figure is a snapshot of current supply: 84 units in six projects, with the largest project accounting for 36.9% of them. If one project changes its price list, the median moves more than for apartments or villas. For the question of what a townhouse in Estepona costs today, it is exactly the right figure.
Six projects, 84 townhouses: where they are being built in Estepona
The New Build townhouses are spread across five districts, from Selwo on the New Golden Mile to Costa Natura in the west. All have three or four bedrooms.
| Project | District | Units | Bedrooms |
|---|---|---|---|
| Palm Luxury Gardens | Selwo | 31 | 3 to 4 |
| Apron Estepona | Bahía Dorada | 23 | 3 to 4 |
| Altoasis | Costa Natura | 11 | 3 |
| Haiku Residences | Benamara–Atalaya | 10 | 3 |
| Lyra Residences | Benamara–Atalaya | 5 | 4 |
| Anna de Estepona | Centre | 4 | 4 |
The projects are at different stages: Altoasis is completed, Palm Luxury Gardens and Lyra Residences are under construction, and the others are on sale before construction starts. So there is supply both for buyers who want to move in straight away and for those who prefer to pay in instalments during construction. The details are on the project pages of Palm Luxury Gardens, Apron Estepona and Altoasis; all houses are shown in the overview of New Build houses.
The townhouse districts: value growth and rental yield
All five districts with New Build townhouses have more than doubled in value in ten years. Selwo, where Palm Luxury Gardens is being built, leads with +276.9%; Costa Natura and Benamara–Atalaya offer the highest rental yields in town.
| District | Value growth, 10 years | Rental yield |
|---|---|---|
| Selwo | +276.9% | 4.39% |
| Centre (Pueblo) | +204.1% | 5.15% |
| Bahía Dorada | +157.4% | 4.91% |
| Costa Natura | +157.0% | 6.81% |
| Benamara–Atalaya | +131.0% | 5.99% |
If you are looking for value growth, Selwo and the centre stand out; if you are looking for running income, Costa Natura and Benamara–Atalaya. Bahía Dorada is mid-table on both. The yields apply to Resales in each district across all property types; for a specific townhouse we calculate with the rent of comparable houses in the same location and the Purchase Price of the chosen unit. More on Selwo is in our note Selwo: wild but true – New Builds cheaper than Resales.
Estepona or Marbella? New Build villas cost 56% more in Marbella
If you are looking for a house, you get it considerably cheaper in Estepona than in Marbella, and New Build townhouses are almost only available in Estepona. On 21 September 2026 our Marbella market area had exactly one New Build townhouse on offer, Estepona 84.
| Key figure | Estepona | Marbella |
|---|---|---|
| New Build, all types | €5,145 | €7,491 |
| New Build villas per m² | €5,753 | €8,993 |
| New Build townhouses | 84 units | 1 unit |
| Value growth, 10 years | +194.1% | +151.3% |
| Gross rental yield | 5.05% | 4.75% |
At the median price per square metre, €500,000 buys around 97 m² of New Build in Estepona and around 67 m² in Marbella. For villas the gap is even larger: a square metre costs €3,240 less in Estepona. Estepona combines the lower entry price with the stronger value growth and the higher rental yield. How the six towns of the western Costa del Sol compare on New Build prices is shown in our note Costa del Sol: more m² for your money.
Why are property prices rising in Estepona?
Because the town is growing, investing without debt, and demand comes from people who live here all year. The growth follows the development of the town, not a short-term trend.
Almost 13,000 new residents since 2016
Estepona grew from around 67,000 residents in 2016 to almost 80,000 in 2025, an increase of 19.4%. Marbella grew by 13.5% over the same period. In 2024 alone 1,438 residents were added, and another 1,208 in 2025. Every new resident needs an apartment or a house for the whole year.
Debt-free, with €27 million of investment in the 2026 budget
According to the town hall, the town has fully repaid an inherited debt of more than €300 million and is investing around €27 million in its 2026 budget, the highest in its history. This includes a town-funded hospital for €15 million, a coastal corridor of more than 21 kilometres and the Bulevar Parque Central for almost €10 million. At the same time property tax for registered households is falling by 20% on average. According to the municipal budget, the average IBI bill fell from €723 in 2011 to €556 in 2026. The coastal corridor is 95% complete, and more than €20 million is going into renewing the water network.
Almost three times the value of ten years ago
The public price index for Resales rose from €1,699 per m² in August 2016 to €5,000 in August 2026. That is an increase of 194.1%, with 17.4% in the last year alone. Before the financial crisis, in August 2007, the index stood at €2,391; today it is more than double. The full development is in our note Estepona: almost 3× the value in 10 years.
Which property type in Estepona suits which goal
The price per square metre is a benchmark; the decision depends on use and budget. In today's supply the three property types differ as follows:
- Townhouse: the lowest New Build price per square metre, a private entrance, three or four bedrooms in all six current projects. Because the houses are larger, the total price is usually above that of an apartment.
- Apartment: by far the largest supply, 645 units in 68 projects. This is where the choice of location, size and completion date is widest.
- Villa: detached on its own plot, 115 units in 44 projects. 12.1% more per square metre than an apartment, but around 36% cheaper than in Marbella.
- New Build against Resale: across all property types, New Builds in Estepona cost only 2.9% more than Resales. The details are in our note Estepona: New Builds cost only 2.9% more than Resales.
Rental yield in Estepona: 5.05% gross, with rents rising too
Long-term rents in Estepona stood at around €21 per m² per month in August 2026, and the gross rental yield on Resales was 5.05%. In Marbella it was 4.75%. Rents in Estepona rose by 117.7% over five years and 190.3% over ten, almost in step with purchase prices.
For New Build buyers that means running income and value growth come from the same demand, the growing resident population. The yields apply to the municipality across all property types; for an individual house we calculate with the actual rent in the district.
What does this mean for investors?
In Estepona's New Build market you get a house at the price per square metre of an apartment, in a town growing faster than Marbella. Townhouses are the least expensive property type per square metre, villas cost around 36% less than in Marbella, and the Resale index has risen by 194.1% in ten years across all property types.
New Builds also bring legal protection: under the Building Act, Ley 38/1999, deposits from the building permit onwards go through a special account and are covered by a bank guarantee or insurance, and after handover there are one, three and ten years of warranty. These are past figures, not a forecast.
Even with purchase taxes, New Builds in Estepona stay close to Resales: 10% VAT and 1.2% stamp duty on a New Build, 7% transfer tax on a Resale. Including taxes, a New Build square metre across all property types costs around €5,721, a Resale around €5,350. For that the buyer gets today's building standard and an owners' community without old debts.
New developments in Estepona
Where the figures come from
New Builds: our own survey, median asking price per square metre of living area, municipality of Estepona, 18 September 2026; property-type comparison with Marbella 21 September 2026. Only units with a published price are included. Value growth: public price index for Resales, August 2026. Rents: asking rents, August 2026. Residents: official figures. Budget and projects: Estepona town hall.
Frequently asked questions
Are houses in Estepona cheaper than apartments?
Per square metre, yes, for townhouses. On 18 September 2026 New Build townhouses had a median of €4,927 per m² and apartments €5,130, 4.0% more. Villas were at €5,753 per m².
How many New Build townhouses are there in Estepona?
On 18 September 2026 there were 84 priced townhouses in six projects, including Palm Luxury Gardens in Selwo, Apron Estepona in Bahía Dorada, Altoasis in Costa Natura and Haiku Residences in Benamara–Atalaya.
How do New Build villa prices in Estepona compare with Marbella?
On 21 September 2026 New Build villas in Estepona had a median of €5,753 per m², against €8,993 in our Marbella market area. That is around 56% more in Marbella.
What is the rental yield in Estepona?
The gross rental yield on Resales was 5.05% in August 2026, with long-term rents of around €21 per m² per month. In Marbella it was 4.75%.
Sources & official links
- INE – Official population figures of Spanish municipalities (checked 21.09.2026)
- Ayuntamiento de Estepona – Zero debt after repaying €300 million (checked 21.09.2026)
- Ayuntamiento de Estepona – 2026 budget (checked 21.09.2026)
- BOE – Ley de Ordenación de la Edificación 38/1999 (checked 20.09.2026)
