Real Decreto de Vivienda postponed to September: what the delay means today for Costa del Sol landlords and buyers

Published 8 September 2026

What happened - and why landlords and buyers on the Costa del Sol should care

The housing decree (Real Decreto de Vivienda) that was due to reach the Council of Ministers was withdrawn from the agenda on 28 July 2026 and postponed to September 2026. Until it is published in the BOE it remains a draft proposal, not law. Check the BOE on the day you act for any text that may have been published.

That matters because the draft contains measures that would affect rental taxation, short-term lets, VAT and incentives for owners who keep rents lower or rent to younger tenants. If enacted in its current form, some measures could change the economics of owning or buying on the Costa del Sol. The postponement gives sellers, buyers and landlords more time to prepare - but also prolongs uncertainty.

Quick summary - the draft items that most affect Costa del Sol markets

• IRPF bonifications for landlords who reduce rent or prioritise young tenants - proposed, currently draft.
• SOCIMI tax changes - included in the draft but not final.
• 21 percent VAT on tourist flats - appears in the draft and would affect owners of accommodation marketed as tourist flats if approved.
• New rules for temporary lets and registration - draft only. Note that national short-let registration procedure created in 2024 was annulled by the Supreme Court in May 2026; regional tourism registries apply instead.

Legal background to keep top of mind

Important current points to bear in mind now:

• The national rent-cap decree of March 2026 was rejected by Congress and ceased to have effect on 30 April 2026. It is not in force.
• Contracts signed from 26 May 2023 update according to the IRAV index. Contracts signed before that date follow the index agreed in the contract, usually the IPC.
• Andalucia has not declared any zona tensionada and did not adopt the state rental reference index. For tourist lets in Andalucia the RTA registration under Decreto 31/2024 applies, and the VFT code must appear in adverts.
• The national short-let registration number created by the 2024 decree was annulled by the Supreme Court in May 2026. Regional tourism registries are the operative route for short-term licences.

How the draft could change landlord economics - what to plan for

Even as a draft, the proposals signal the government direction. Landlords should model scenarios now so they are not surprised if parts of the decree are enacted.

Key landlord actions to consider now:

• Tax planning - if the draft retains IRPF bonifications for lower rents or young tenants, some owners may qualify for lower income tax on rental income. Talk to your tax adviser about documentation you would need to claim any relief.
• Short-term lets - the draft includes special rules for temporary lets and mentions changes to VAT treatment of tourist flats. Because the national short-let registration was annulled, regional rules remain decisive. In Andalucia register with the RTA under Decreto 31/2024 and ensure the VFT code appears in adverts.
• Lease renewals and rent reviews - for leases signed from 26-05-2023, update calculations using the IRAV index. For older leases, follow the contract clause. Review your tenancy contracts now to ensure you can apply the correct index and notice periods.
• Operational costs - any SOCIMI tax changes in the final decree could affect listed property vehicles and investors. If you own properties through a corporate structure, review structure and cashflow with an accountant.

What buyers should watch when shopping on the Costa del Sol

For buyers the main practical issues are price transparency, tax exposure on short-let purchases, and the potential for changes to rental demand if the decree is adopted.

Practical buyer actions:

• Use notary-verified transaction prices to benchmark offers. Notary data often shows lower per square metre prices than advertised listing medians. For example Marbella exhibits a median listing of EUR 6,250/m2 but notary-verified transactions show EUR 4,695/m2 per square metre (notary source).
• Factor in tax changes if you intend to operate the unit as a tourist flat. The draft proposes a 21 percent VAT treatment for tourist flats. Until the decree is published this is uncertain, but buyers should model purchase affordability both with and without that VAT position.
• Location choice - demand is resilient for premium Costa del Sol locations but price dispersion matters. Check local market liquidity and days on market with your agent before making offers.

Costa del Sol snapshot - prices and listings to compare

Below is a side-by-side comparison of inventory and price medians across key municipalities on the Costa del Sol. Where notary-verified per square metre figures are available I have linked the primary notarial source.

Municipality	Active for-sale listings	Median price	Median EUR/m2 (listing)	Notary-verified EUR/m2
Marbella	1,471	EUR 1,450,000	EUR 6,250/m2	EUR 4,695/m2
Estepona	746	EUR 845,000	EUR 5,175/m2	EUR 3,483/m2
Benahavis	453	EUR 2,250,000	EUR 6,224/m2	EUR 4,540/m2
Nueva Andalucia	400	EUR 1,500,000	EUR 6,500/m2	Not available
Puerto Banus	123	EUR 1,197,000	EUR 7,364/m2	Not available
San Pedro Alcantara	216	EUR 1,075,000	EUR 5,644/m2	Not available
Sotogrande	84	EUR 2,195,000	EUR 4,696/m2	Not available
Mijas	437	EUR 599,950	EUR 3,836/m2	EUR 2,975/m2

How to interpret the listing medians versus notary-verified transaction prices

Listing medians reflect asking prices. Notary-verified figures record declared sale prices at completion and are published by notarial registries. Where there is a gap between listing medians and notary-verified prices buyers can often use that to negotiate - but remember completed price data lags and varies by property type and micro-location.

Example - Marbella: median listing EUR 6,250/m2 compared with notary-verified EUR 4,695/m2. That gap can reflect higher-end stock being offered for sale at premium asking prices, while a mixture of completed transactions includes more mid-market deals. Use both figures to inform offer strategy.

Short-term lets and VAT - immediate checklist

The draft proposes a 21 percent VAT on tourist flats. This remains a draft. Nonetheless, landlords and buyers who currently rely on short-term lettings should prepare:

• Check RTA registration for Andalucia and keep the VFT code visible in adverts as required by Decreto 31/2024.
• Model cashflow with an extra 21 percent VAT cost to understand downside scenarios until the law is final.
• Keep documentation of services offered - some supplies may still be treated as rents rather than VATable supplies depending on how the final decree and tax authority guidance read.

Financing and mortgages - lenders are watching the draft

Lenders price regulatory risk into mortgage criteria. If the final decree limits rent increases, or if VAT treatment of tourist flats changes, lenders may tighten loan-to-value ratios for properties that depend on short-term income. If you are buying with finance, get an agreed mortgage-in-principle and ask the lender how they treat short-let income in credit underwriting.

Practical checklist for landlords and sellers today

• Review tenancy contracts for indexation clauses - apply IRAV for contracts from 26-05-2023.
• If you rent short-term in Andalucia, confirm your RTA registration and include the VFT code in online adverts.
• Speak with your tax adviser about potential IRPF bonifications and any documentation you would need if the draft is enacted.
• Prepare a scenario plan for changes to VAT treatment on tourist flats - worst case and base case.
• Keep sales marketing flexible - a sale may attract a buyer who wants to operate as a long-term rental or as a tourist flat depending on the final rules.

Practical checklist for buyers today

• Use notary-verified prices as a sanity check when valuing offers - links to notarial sources are in the comparison table.
• Ask sellers for clear statements on how a property has been used - long-term let, short-term let, or owner use - and confirm RTA registration where applicable.
• Model purchase affordability under different tax rules, including the proposed VAT on tourist flats.
• Factor in transfer taxes and notary fees as usual. These do not depend on the draft housing decree unless the final text alters transfer tax treatment.

When to act - timing and tactical advice

If you need to sell or buy urgently proceed with normal due diligence. The postponement gives time to see the final decree, but it does not stop transactions. If you are flexible on timing you can wait for final wording to reduce regulatory uncertainty. If you are selling, emphasise clean documentation and compliance with regional tourism rules to keep buyer confidence high.

Where to check for official updates

Primary sources to monitor:

• BOE - the official state bulletin where any final Real Decreto will be published. Visit https://www.boe.es.
• Ministry of Transport and Urban Agenda and Ministry of Housing communications for draft summaries and explanatory notes.
• Andalucian regional government pages for RTA and tourism registration guidance and for confirmation that Andalucia has not declared zona tensionada.
• Notarial registries for transaction price confirmation - linked items in the table above are primary notarial sources.

FAQ - quick answers for common questions

Q: Is the Real Decreto de Vivienda law already in force?

A: No. The decree was withdrawn from the Council of Ministers agenda on 28 July 2026 and postponed to September 2026. Until it is published in the BOE it is a draft proposal, not law. Check the BOE before relying on any measures.

Q: Will rent increases be capped?

A: The national rent-cap decree from March 2026 was rejected and ceased to have effect on 30 April 2026. Today, rent indexation follows the ordinary LAU rules and the IRAV index for contracts signed from 26 May 2023. Contracts signed earlier follow the index agreed in the contract, usually the IPC.

Q: Do I need the national short-let registration number to advertise a tourist flat?

A: No. The national short-let registration procedure created in 2024 was annulled by the Supreme Court in May 2026 because the State lacked competence for a national registry. Regional tourism registries apply instead. In Andalucia you must register with the RTA under Decreto 31/2024 and include the VFT code in adverts.

Q: How should I price my property for sale today?

A: Use both listing medians and notary-verified transaction prices to set a realistic price. For example, Marbella median listing is EUR 6,250/m2 while notary-verified sales show EUR 4,695/m2 (notary source). That gap can help you calibrate expectations, but local condition and property quality matter most.

Q: Should I delay buying until the decree is final?

A: Not necessarily. If your purchase is urgent carry out full due diligence and model downside regulatory scenarios. If you can delay without cost, waiting until the final text is published will reduce uncertainty and help you price tax and income scenarios more accurately.

Bottom line

The postponement to September 2026 gives Costa del Sol landlords and buyers extra time to prepare for potential changes, but it does not freeze market activity. Use notary-verified data to benchmark prices, confirm regional tourism registration and VFT codes where short lets are concerned, and consult tax and legal advisers to model the draft measures. Above all, check the BOE on the day you must act - until publication the housing decree remains a draft.