Diana Morales Properties 2025 Review and 2026 Outlook

Every year has its own rhythm. In 2025, the Marbella market stayed active and measured. Buyers and sellers had access to more information than ever, yet the most valuable insight still came from trusted local experience. Our role was to turn information into sound decisions. At DM Properties, we kept our focus on the essentials: clear advice, careful marketing, and guidance from first viewing to completion.

Top transactions

Different assets. Same requirements: discretion, strong qualification, and a process led by experience, these transactions captured the range of work we handled in 2025. We sold properties across all three muncipalities of the Golden Triangle, with stand out sales in La Zagaleta, Sierra Blanca and along the Beachside of the Golden Mile. Moreover together with our partner office in Madrid, we participated in the sale of a building in Madrid which will be restored and turned into a luxury residential apartment building in the heart of the Barrio de Las Letras.

The year in numbers

Our completed transactions were split roughly 50–50 between apartments and villas. Pricing across both segments remained firmly in the luxury bracket and up from the previous year. Our average sales price for Villas was 5.6 million Euros and for Apartments 1.3 million euros.

A market that remains truly international

This mix reflects what we see every day. Marbella and the Costa del Sol continue to attract a broad international audience, with lifestyle-led purchases alongside long-term investment decisions. We sold property to clientes from 19 different countries, mostly within the EU, the Top 5 being from the UK, Spain, Germany, Belgium and Norway.

Time on market: back to a slower pace

One of the clearest shifts sits in timing.

Before COVID, a property often stayed on the market for 12 to 18 months. In the post-COVID surge—especially 2022 and 2023—that average tightened to around six months. In 2025, we saw the market settle into a more balanced range of nine to 12 months. This timing also rewards sellers who launch with the right price and strong presentation, because the best-positioned homes still stand out and secure serious interest.

Pricing discipline and realistic negotiations

In 2025, the average difference between asking price and selling price in our completed sales across all types of properties was 12.90%. The difference between the asking price and final selling price for Villas was 13.63% and for Apartments it was 11.1%. That number tells a familiar story: Sellers often test the market at the start. Deals complete when pricing, presentation, and negotiation align.

Second homes still lead, even as relocation grows

We saw a continued rise in purchases linked to relocation. More clients now plan longer stays, school moves, and work-from-Spain lifestyles. Even so, demand remains primarily driven by second-home buying. For many clients, the Costa del Sol still serves as a base for holidays, long weekends, and time with family.

Looking ahead to 2026: a slightly slower market, with clear opportunities

As we move into 2026, we are preparing our 2026 Real Estate Market Report. It will bring together the latest local data on pricing, demand, and trends across Marbella, Benahavís, and Estepona, along with our outlook for the months ahead.

The latest official for number of properties sold comparing Q1–Q3 2024 with Q1–Q3 2025 show a modest slowdown across the Golden Triangle overall (-3.2%). Aditionally when looking at price increases over the last 5 years across the 3 municipalities we notice a slow down in the rate at which prices have grown. While prices do continue to rise for now, the rate has decelerated as a whole in the Golden Triangle from a 5.05% increase in 2022, 14.65% in 2023 and back down to 9.49% in 2024 and further down to 8.32% in 2025.

We read this as a return to a more selective market. Serious buyers remain active, but they expect quality, clarity, and realistic pricing. Sellers who prepare well and take advice early will keep their advantage. We will be monitoring closely weather this decrease across number of transations and pricing continues well into 2026.

In 2026, we keep the same priorities that served our clients well in 2025:

• Honest pricing guidance from day one
• Careful, consistent marketing with great international exposure
• Disciplined buyer qualification and follow-through
• Access to some of the region's most important properties

Local knowledge, globally connected

DM Properties was founded in 1989. Over 35+ years, we have built our reputation through local market knowledge and a measured, client-first approach.

As the exclusive Marbella associate of Knight Frank, we connect that local expertise with global reach. Knight Frank’s network spans 600+ offices, 50+ markets, and 20,000+ people worldwide. That support strengthens international visibility and referrals, while keeping service personal and grounded.

Mariano Beristain, 02 Feb 2026 - Intelligence