Is Nueva Andalucía a Good Investment in 2026?

Yes, Nueva Andalucía is a good investment in 2026 for buyers with the right expectations and a medium to long-term horizon. Houses average €5,750/m2, up 8.6% year-on-year, and apartments €5,289/m2, up 5.7%, both close to their historical maximum.

It is a fully priced market with strong structural fundamentals and limited downside risk for well-chosen assets. The easy capital growth of 2021 to 2024 is behind it. What remains is a resilient, liquid market, supported by strong international demand and by factors that continue to attract buyers regardless of where the wider cycle sits.

Below, we look at how prices have moved, which sub-areas suit which objectives, why demand in the valley holds up, and what buyers should be aware of before committing.

Prices have risen in every year since 2022, across both houses and apartments. Growth has not been evenly distributed between the two: apartments have appreciated by 31.5% over the period against 22.5% for houses, though houses recorded the stronger increase in 2026.

For buyers, the more relevant observation is consistency. Five consecutive years of growth across both property types reflects a market supported by sustained demand rather than short-term movement.

Development of square metre prices

View our current properties in Nueva Andalucía

Nueva Andalucía continues to attract strong demand from both long-term residents and international tenants, supporting continued growth in the local rental market.

House rental prices in Nueva Andalucía currently average €22.23 per m², reflecting a 9.94% year-on-year increase. On a quarterly basis, rental values have increased by 3.4%.

Nueva Andalucía as a whole performs well for letting, but for investors we would single out Aloha, Las Brisas and Los Naranjos. Set around the golf courses and close to Puerto Banús and the coast, they attract steady demand from both holiday and long-term tenants, and Los Naranjos has posted one of the strongest annual price rises at +6.6%. La Quinta is also worth considering, though its slightly more removed position narrows its appeal for some tenants.

Buying to live in rather than to let? Read our guide to which area of Nueva Andalucía is best to buy in

For any property investment, the strength of demand matters as much as the current price. Some markets are largely driven by economic cycles, with demand rising during periods of growth and falling when conditions weaken. Others benefit from longer-term factors that continue to attract buyers even as market conditions change.

Nueva Andalucía benefits from several of these long-term demand drivers. Its established residential community, international schools, proximity to Puerto Banús and Marbella, golf lifestyle, limited land availability and appeal to international buyers give the area a broader and more resilient demand base than many European luxury property markets.

Six golf courses within the valley

The Golf Valley nickname is literal. Real Club de Golf Las Brisas, Los Naranjos, Aloha, La Quinta, Magna Marbella and Dama de Noche all sit within or immediately adjacent to the area. This concentration of championship-quality golf is unmatched in southern Spain and is the primary reason international buyers choose Nueva Andalucía over other Marbella districts.

Year-round resident population

Unlike much of the Costa del Sol, Nueva Andalucía does not empty in October. The international schools, including Aloha College, Svenska Skolan Marbella and The American College in Spain, keep the area busy all year and anchor a permanent resident community of families who live here full-time.

This is relevant to the investment market because the same year-round population supports demand for both owned and rented homes, with families relocating to Marbella often choosing to rent before committing to a purchase. It also sustains a service ecosystem, from healthcare and education to retail, restaurants and other local amenities, that supports the area’s appeal beyond the traditional tourist season. For a fuller picture of what makes the area attractive to long-term residents, see why people love living in Nueva Andalucía.

An international buyer base

International buyers account for 78% of purchases in the area. That base is genuinely diverse across nationality, which reduces correlation with any single economy. British, Scandinavian, German, Dutch, Belgian, American and Gulf-state buyers are all active in the market. When one nationality pulls back, others typically fill the gap, as happened during the post-Brexit period when Scandinavian and Middle Eastern buyers absorbed much of the demand that British buyers temporarily withdrew.

Planning changes are coming

Marbella’s new General Municipal Ordinance Plan (PGOM) is expected to receive initial approval in 2026, with definitive approval between 2027 and 2028. Planning changes of this scale can affect what can be built, where, and at what density across the municipality.

The most likely effect in Nueva Andalucía is limited, given the valley is already largely built out. However, buyers considering plots or properties with significant renovation or extension plans should take specific legal advice on how the incoming PGOM might affect their project before exchanging contracts.