Will Long-Term Rental Prices Fall in Marbella This Winter?

Free Long-Term Property Rental Guidance and Support From Marbella Lettings

Could long-term rental prices in Marbella finally start to come down this winter?

It is a question that more property owners and tenants are likely to be asking as we move towards the end of the summer.

For several years, the Marbella long-term rental market has been characterised by strong demand, limited availability and increasing rents.

But there is now an interesting change taking place.

More property owners are contacting Marbella Lettings about putting their properties onto the long-term rental market.

Some are owners who have traditionally used their properties as holiday rentals.

Others are owners who have discovered that holiday rental is no longer available to them because of changing regulations, community restrictions or other requirements.

And some simply want the security of knowing that their property will be occupied during the quieter months of the year.

This raises an important economic question:

If more properties enter the long-term rental market, could increased supply eventually put downward pressure on rental prices?

The answer is: possibly — but it is too early to say that Marbella rents are definitely going to fall.

What Is Happening To Marbella Rental Prices Now?

The latest available rental data gives us an important starting point.

According to Idealista’s Marbella rental-price index, the average asking rental price reached €23.90 per square metre in July 2026.

That represented an increase of:

2.6% compared with June 2026
9.3% compared with April 2026
9.1% compared with July 2025

In other words, the market has not yet turned downward. (Idealista)

In fact, the data shows a sustained upward trend.

Marbella’s reported rental price was €21.90/m² in July 2025, compared with €23.90/m² in July 2026. (Idealista)

So if someone tells you that Marbella rents have already started collapsing, the current market data does not support that conclusion.

But that doesn’t mean prices cannot change over the coming months.

Why Winter Could Be Different

The Marbella rental market is highly seasonal.

During the summer, holiday demand is exceptionally strong.

Many owners have their properties occupied during June, July, August and, in some cases, September.

For an owner operating a successful holiday rental, there can be considerable confidence that the property will generate income during these months.

The situation can feel very different when September finishes.

Suddenly, the owner is looking at October, November, December, January and February.

The question becomes:

“What am I going to do with the property during the winter?”

This is where we are beginning to see more owners reconsider their rental strategy.

At Marbella Lettings, we are increasingly being approached by owners asking about long-term rentals.

That doesn’t necessarily mean all of these properties will eventually be rented long term.

But it does indicate that more owners are considering entering the long-term market.

Supply And Demand Could Become The Key

Rental prices are ultimately influenced by supply and demand.

When there are significantly more tenants looking for properties than properties available, landlords have greater pricing power.

This is one of the reasons rents have risen so significantly in Marbella.

But what happens when the balance begins to change?

If additional properties enter the market, tenants have more choice.

And when tenants have more choice, landlords may need to become more competitive.

That doesn’t necessarily mean dramatically reducing the asking rent.

It could mean accepting a slightly lower offer.

Improving the property.

Including certain costs.

Being more flexible about the tenancy.

Or simply pricing the property realistically from the beginning.

The Number Of Available Properties Is Already Interesting

There is evidence that a substantial number of properties are currently being marketed for long-term rental.

Idealista’s Marbella long-term rental search currently shows more than 1,900 properties listed in its long-term rental category. (Idealista)

That figure should be treated cautiously because online portals contain duplicates, properties with different rental periods and listings that may not necessarily represent the entire active market.

Nevertheless, it demonstrates that there is already a significant volume of rental stock being advertised.

And this is before considering properties that may come onto the market during the autumn and winter.

Why Some Owners Are Now Switching From Holiday To Long-Term Rental

There are several reasons for this.

Some owners have discovered that their community does not permit tourist rentals.

Others may face difficulties satisfying the requirements for tourist accommodation.

Some owners have purchased properties specifically as investments and now need to reassess how those properties can generate income.

And others simply don’t want the work associated with holiday rentals.

Holiday rentals can involve constant communication, check-ins, check-outs, cleaning, maintenance, guest issues and managing occupancy.

A long-term tenant can provide a completely different model.

One tenant.

One tenancy.

Regular rental payments.

And potentially significantly less turnover.

For some landlords, that stability is increasingly attractive.

Could More Supply Mean Lower Rents?

This is where things get interesting.

If the number of properties available for long-term rental increases significantly while tenant demand remains broadly unchanged, basic supply-and-demand economics suggests there could be downward pressure on prices.

But there is a major caveat.

Not all properties are competing with each other.

A €1,800-a-month two-bedroom apartment in a residential development is not competing directly with a €10,000-a-month luxury villa in Sierra Blanca.

Location matters.

Size matters.

Condition matters.

Parking matters.

Outdoor space matters.

Furnishing matters.

School proximity matters.

And, particularly in Marbella, lifestyle and prestige matter.

So increased supply doesn’t necessarily mean every property will become cheaper.

The Properties Most At Risk Of A Price Reduction

If the market does soften, I would expect the greatest pressure to fall on properties that are overpriced relative to their competition.

This is something experienced agents see regularly.

A landlord decides that their property is worth €3,000 a month.

Another similar property is available for €2,700.

Another is €2,600.

The €3,000 property may sit empty.

Eventually the owner has a decision.

Reduce the price.

Improve the property.

Wait.

Or accept that the property may remain vacant.

This is why pricing a property correctly at the beginning can be far more important than simply trying to achieve the highest possible headline rent.

Have Marbella Rents Increased Dramatically?

There is no question that rental prices have increased substantially.

But it is important to separate individual property experiences from the wider market.

Idealista’s data shows Marbella moving from approximately €15.40/m² in January 2023 to €23.90/m² in July 2026 — a rise of around 55%. (Idealista)

That’s significant.

Individual landlords may have experienced considerably larger increases depending on their property, location and starting rental price.

After more than 20 years working in Marbella property rentals, we have also seen individual properties experience extraordinary changes in rental value.

But the overall market data is the better measure when discussing Marbella as a whole.

And right now, that data says rents remain high and are still increasing.

So, Will Rents Fall This Winter?

Our view is that it is possible that some rental prices will soften, particularly if more properties enter the long-term market.

But we don’t think landlords should assume that Marbella is about to experience a dramatic rental-price collapse.

There are simply too many variables.

Demand remains important.

Marbella continues to attract international residents, professionals, families and people relocating to the Costa del Sol.

And the quality properties in the best locations remain highly desirable.

The more likely scenario, if supply increases, could be greater choice for tenants and more realistic pricing from landlords.

That could mean the days of simply putting a property onto the market at an ambitious price and expecting it to rent immediately become less common.

What Should Landlords Do?

If you’re considering renting your Marbella property this winter, don’t wait until the property has already been sitting empty for several months before reviewing the price.

Look at the competition.

Understand what comparable properties are actually being offered for.

Consider the location.

Look objectively at the condition of your property.

And most importantly, establish what rental strategy actually suits you.

Perhaps you want a traditional twelve-month tenancy.

Perhaps a mid-term rental is more appropriate.

Perhaps you still want to use the property yourself during the summer.

The answer is different for every landlord.

The Marbella Rental Market Is Changing

We are entering an interesting period.

The holiday-rental market is becoming more regulated.

Some communities are restricting tourist accommodation.

Some owners are discovering that their original holiday-rental plans are no longer straightforward.

And consequently, we are seeing more property owners considering long-term rental.

If that trend continues, the balance between supply and demand could change.

And if supply increases sufficiently, landlords may need to adjust their expectations.

But for now, the evidence does not show that Marbella long-term rental prices are falling.

Quite the opposite.

The latest data shows continued annual growth.

The question is whether increasing supply over the coming winter will finally begin to moderate that growth.

That is what we will be watching closely.

Marbella Lettings Are Long-Term Property Rental Specialists In Marbella

At Marbella Lettings, we’ve been working in the Marbella property rental market for more than 20 years.

We’ve seen rental markets rise, fall, change and evolve.

We’ve worked with landlords through very different economic conditions and understand that the most important thing isn’t simply achieving the highest possible asking price.

It’s finding the right balance between rental value, demand, tenant quality and occupancy.

If you’re a property owner in Marbella considering renting your property for the first time, changing from holiday rental to long-term rental, or simply wondering what your property could realistically achieve this winter, we’re always happy to provide straightforward guidance.

Marbella Lettings are Long-Term Property Rental Specialists in Marbella, providing Free Long-Term Property Rental Guidance and Support From Marbella Lettings.

We work with property owners throughout Marbella, including Nueva Andalucía, Puerto Banús, San Pedro Alcántara, Benahavís and surrounding areas.

No pressure.

No obligation.

Just honest advice based on more than two decades of practical experience in the Marbella rental market.