Estepona: Almost 3× the Value in 10 Years
Estepona is taking off: property here is worth almost three times what it was ten years ago. The public price index for Resales rose from €1,699 per square metre in August 2016 to €5,000 in August 2026, an increase of 194.1%.
The growth did not come in one jump but year after year, and it has recently accelerated: 17.4% in the last twelve months alone. For New Build buyers that is a strong signal, because they are investing in one of the most dynamic markets on the Costa del Sol.
Estepona is worth almost three times as much as in 2016
| August | Resale index per m² |
|---|---|
| 2016 | €1,699 |
| 2017 | €1,993 |
| 2018 | €2,040 |
| 2019 | €2,177 |
| 2020 | €2,234 |
| 2021 | €2,518 |
| 2022 | €2,915 |
| 2023 | €3,404 |
| 2024 | €3,875 |
| 2025 | €4,246 |
| 2026 | €5,000 |
From August to August, the index has not fallen once in ten years. Even in August 2020, the year of the pandemic, it was above the previous year. This steadiness sets Estepona apart from markets that grow in jumps and then fall back.
The growth is accelerating: +€2,482 in five years
In the first five years the index rose by €819 per square metre, in the second five years by €2,482, three times as much. From August 2025 to August 2026 alone it added €754, almost as much as in the whole period from 2016 to 2021.
| Period | Gain per m² | Change |
|---|---|---|
| 2016 to 2021 | +€819 | +48.2% |
| 2021 to 2026 | +€2,482 | +98.7% |
| 2025 to 2026 | +€754 | +17.4% |
2016 to 2020: steady build-up
In the early years the index rose by between around €50 and almost €300 per square metre each year. The market grew without swings, right through the pandemic year. In August 2020 the index stood at €2,234, still below the 2007 pre-crisis peak.
2021 to 2026: at least €371 of growth per year
From 2021 the annual gains became larger: €397 from 2021 to 2022, €489 to 2023, €471 to 2024, €371 to 2025 and €754 to 2026. In 2021 the index passed its pre-crisis peak for the first time, and it has almost doubled since. These years saw the town become debt-free, its largest investment programmes and continued population growth.
A worked example with 100 square metres at the index value shows what this means in euros: around €170,000 in 2016, around €252,000 in 2021 and around €500,000 in 2026. That is the average across all property types, not a valuation of an individual property.
Estepona against Marbella: stronger growth over one, five and ten years
Estepona has risen faster than Marbella in all three periods, from a lower entry price. On 18 September 2026 New Builds cost €5,145 per square metre in Estepona and €7,491 in our Marbella market area.
| Key figure | Estepona | Marbella |
|---|---|---|
| Resale index, 1 year | +17.4% | +4.0% |
| Resale index, 5 years | +98.7% | +78.4% |
| Resale index, 10 years | +194.1% | +151.3% |
| New Build per m² | €5,145 | €7,491 |
| 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. Buying in Estepona, you get around 30 m² more and invest in the town that has grown faster in all three periods. Running income also favours Estepona: the gross rental yield on Resales is 0.3 percentage points above Marbella.
How the six towns of the western Costa del Sol differ 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. Between 2019 and 2025 alone more than 11,000 registered residents were added, 1,438 in 2024 and another 1,208 in 2025. Every new resident needs a home for the whole year, not just for the season.
Debt-free, with record investment
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, while property values more than doubled. For registered owners, running costs fall while values rise.
Hospital, coastal promenade, boulevard: what the town is building
Estepona invests in things that matter all year: healthcare, paths along the sea, a new centre. According to the town hall, these projects include:
- Hospital: funded by the town for €15 million, 14,300 m², designed for around 85,000 consultations, 91,000 emergencies and up to 4,000 operations a year.
- Coastal corridor: more than 21 km of continuous path for pedestrians and cyclists along the coast, 95% complete.
- Bulevar Parque Central: €9.99 million, under construction.
- Water network: more than €20 million to renew the supply pipes.
Today twice the level before the financial crisis
In August 2007, before the financial crisis, the index stood at €2,391 per m². Today it is at €5,000, more than double. The growth is not a recovery to old highs but a new price level.
- 2007 Pre-crisis peak of the index: €2,391 per m².
- 2016 €1,699 per m², the starting point of the ten-year comparison.
- 2018 The town-funded hospital is completed.
- 2021 €2,518 per m², the pre-crisis peak is exceeded.
- 2025 Town debt-free, almost 80,000 residents.
- 2026 €5,000 per m², record investment in the budget.
Which Estepona districts have risen the most
Selwo has almost quadrupled in value in ten years; the centre and Punta Plata are above the town average of +194.1%. When you invest, you buy a district, not the average.
| District | 5 years | 10 years |
|---|---|---|
| Selwo | +135.3% | +276.9% |
| Centre (Pueblo) | +99.5% | +204.1% |
| Punta Plata | +99.2% | +184.3% |
| Bahía Dorada | +94.3% | +157.4% |
| Costa Natura | +71.5% | +157.0% |
| Benamara–Atalaya | +67.9% | +131.0% |
Even the districts with the smallest gains have more than doubled in ten years. The highest gross rental yields are in Costa Natura at 6.81% and Benamara–Atalaya at 5.99%. Value growth and running income are therefore distributed differently across the town.
Rents are rising at the same pace
Long-term rents in Estepona stood at around €21 per m² per month in August 2026, 190.3% above their level ten years ago. Purchase prices and rents have risen almost in step, +194.1% and +190.3%. The gross rental yield on Resales was 5.05%, in Marbella 4.75%. Over five years rents in Estepona rose by 117.7%.
This is the strongest evidence that the growth has been earned: a market in which only purchase prices rise lives on expectations. A market in which rents keep pace lives on use. In Estepona, the people who live here carry the price level.
What does this mean for New Build buyers?
New Builds in Estepona cost only 2.9% more than Resales, in a market that has almost tripled in ten years. Buying new today, you enter close to the resale market level and get a new property with a warranty and protected deposits. In Selwo New Builds were even 11.7% below Resales in the same zone.
Even with purchase taxes the gap remains small. In Andalusia New Builds carry 10% VAT and 1.2% stamp duty, Resales 7% transfer tax. Including taxes, a New Build square metre in Estepona costs around €5,721 and a Resale around €5,350, a gap of around 7%. For that the buyer gets today's building standard, protected deposits and ten years of structural warranty.
The details are in our notes Estepona: New Builds cost only 2.9% more than Resales and Selwo: wild but true – New Builds cheaper than Resales. These are past figures, not a forecast.
New developments in Estepona
Where the figures come from
Value growth: public price index for Resales in the municipality of Estepona, all property types, August values from 2016 to 2026. Changes over one, five and ten years as published by the source, absolute gains our own calculation. New Builds: our own survey, median asking prices, 18 September 2026. Rents: asking rents, August 2026. Residents: official figures. Budget and projects: Estepona town hall.
Frequently asked questions
How much have property prices in Estepona risen in ten years?
By 194.1%. The public price index for Resales in Estepona rose from €1,699 per m² in August 2016 to €5,000 in August 2026. That is almost three times the value.
How much have prices in Estepona risen in the last year?
By 17.4% from August 2025 to August 2026, from €4,246 to €5,000 per m² in the Resale index.
Have prices in Estepona risen faster than in Marbella?
Yes, in all three periods: over one year +17.4% against +4.0%, over five years +98.7% against +78.4%, over ten years +194.1% against +151.3%.
Are prices in Estepona above their pre-financial-crisis level?
Yes, clearly. In August 2007 the index stood at €2,391 per m², in August 2026 at €5,000, more than double.
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)
- Ayuntamiento de Estepona – €15 million hospital completed (checked 21.09.2026)
- Ayuntamiento de Estepona – Coastal corridor (checked 21.09.2026)
