Tom Ewart Smith
The rising cost of housing in Marbella is no longer confined to the city itself.
With demand outstripping supply, property prices have surged not only in the coastal hub but also in its surrounding towns, making affordable housing increasingly difficult to find across the region.
The ‘Marbella effect’ not only directly impacts people’s wallets, but it poses challenges to the local economy.
Workers in the hospitality sector now have a tougher time securing accommodation in the city – a serious issue for Marbella’s economy centred around tourism.
The high property prices have extended to neighbouring municipalities such as Istan, Ojen, Benahavis, and Casares, where available housing at mid-range prices has become scarce.
In Istan, for example, only six of the 76 properties listed on the real estate portal Idealista are priced below €300,000, representing just 7.8% of the total.
Prices in the town range up to €2.7 million for high-end villas.
A similar pattern is seen in Ojen, where just 16 of 244 properties – 6.56% of listings – fall under the €300,000 mark.
Casares and Benahavis offer slightly more options in this range, but luxury homes and villas continue to dominate the market.
The pressure on homeownership is mirrored in the rental market.
In Ojen, the cheapest available rental property on Idealista is listed at €1,400 per month, with only 23 options in total.
In Istan, aside from a single listing at €800 per month, most rental properties exceed €1,200, with many only available during the low season to cater to summer holiday rentals.
Benahavis follows the same trend, with long-term rentals scarce and a minimum price of €1,000 per month.
In Casares, of the 46 rental listings, just four fall below €1,000 per month, making affordable options increasingly difficult to find for middle-income earners.
