Located along the Costa del Sol is the picturesque region of Malaga, a privileged place to shop real estate in spain for both personal use and rental purposes. This region is part of the autonomous community of Andalusia, and its capital shares the same name: Málaga. The capital is the second most populated city in Andalusia and the sixth most populated in the country, with more than 1.7 million inhabitants. In terms of economic activity, Málaga ranks fourth in Spain, only surpassed by Madrid, Barcelona and Valencia.
Malaga is about 2,800 years old, making it one of the oldest cities in Western Europe. The city is famous for monuments such as the Alcazaba, an Arab fortress; the Picasso Museum, which houses the works of the famous artist Pablo Picasso who was born here; and the Cathedral of Malaga.
The local real estate market attracts both Spanish and foreign investors, offering apartments, townhouses, villas in spainand other types of accommodation. The average price of a residential home in Malaga in the second half of 2023 stands at 1.09 million euros, with the average cost per square meter being 4,450 euros.
Malaga is a favorite destination for real estate investors. In addition to the regional capital, the cities of Marbella, Benalmádena, Torremolinos and Estepona are also in high demand among property buyers.
Marbella is the second most populated coastal city in the province. Located along the Mediterranean Sea and near the Sierra Blanca mountains, Marbella is located between Malaga and the Strait of Gibraltar. The city’s tourist attractions and resorts, its beautiful natural landscape, its extensive beaches and its mild climate make it particularly attractive for winter residence. The most sought after property types here include:
- Apartments, with prices ranging from 150,000 euros for a studio, to several million euros for luxury penthouses with sea views;
- Villas with prices from €500,000;
- Semi-detached houses, from €300,000.
Land is also offered in Marbella to build your own house. The price of these plots varies depending on location, size and proximity to the sea.
It is important to note that property prices in the center of Marbella and near the beaches are higher than in the peripheral districts.
Benalmádena is famous for its two large aquariums, amusement park, casino, cable car and one of the largest marinas in Andalusia. It is also a great place to invest in real estate in Malaga, as it offers a variety of housing types. Apartment prices in Benalmádena start at around 100,000 euros. Most residential properties are conveniently located close to the sea and local attractions.
If you want more personal space, consider purchasing a house in spain. Average house prices in Benalmádena range between 300,000 and 600,000 euros. These houses are usually located in residential areas with gardens and swimming pools.
The villas in Benalmádena offer even larger sizes and luxurious amenities. Prices for these properties start at €600,000 and vary depending on location and other features. The villas offer spacious grounds, large private pools and personal parking spaces.
Over time, Torremolinos, once a fishing village, has become a popular location for foreign investors and real estate buyers in Malaga. People from all over the world, especially from the United Kingdom, Ireland and Scandinavian countries, choose Torremolinos for their real estate purchases. In this region you can find apartments in spain from €100,000, houses from €300,000 and villas with prices between €500,000 and €600,000.
Estepona is a picturesque resort that stretches along a 21 kilometer coastline dotted with golden sand beaches. The high quality of Estepona’s beaches has made it a popular tourist destination. The old town of Estepona preserves a traditional Spanish atmosphere, which invites you to immerse yourself in it by walking through its narrow streets. Estepona also offers world famous championship golf courses for golf lovers.
If you are looking for the perfect vacation spot or a real estate investment, keep in mind that apartment prices here start from 200,000 euros for small apartments and can reach several million euros for luxury penthouses and beachfront apartments. . In Estepona you can purchase a small country house for amounts starting at €300,000. Luxurious villas with large plots and direct access to the coast cost several million euros.
In Malaga there are several neighborhoods where real estate prices are below the market average and more prestigious locations with prices above the average. Among the most affordable is La Axarquía, where the average house price is €339,797. The district is famous for its beautiful architecture, narrow old streets and rich historical heritage. Another affordable location is the Guadalhorce Valley, on the banks of the Guadalhorce River, with an average property price of €507,951. In the Metropolitan area of Malaga the average price of a home is €588,967.
It is also worth mentioning prestigious areas where significant sums would be needed to purchase a property:
- Antequera, with an average real estate cost of €882,374. The area is famous for its luxurious villas and apartments overlooking the Mediterranean Sea.
- Serranía de Ronda, where the average price of a home is €1,154,410. Surrounded by mountains and valleys, the area offers a calm and serene environment, as well as opportunities for active recreation.
- Costa del Sol, where the average cost of a home is €1,262,586. Located on the Mediterranean coast, it has luxurious beaches, golf courses and numerous entertainment opportunities.
These prices provide information about the Malaga property market and can help you choose an area to invest in that suits your needs and preferences.
Today, the average price of residential housing for sale in the municipality of Málaga is 2,396 euros per square meter. 9.06% more than in July 2022, when the average price was €2,197/m2. Investing in the real estate sector of Malaga is an opportunity for the preservation and growth of capital, since the economic development of the province guarantees an increase in property value. The return on real estate investments in Malaga is higher than in other regions of Spain, thanks to its popularity among tourists.
Unlike most Spanish destinations, the tourism sector in Malaga remains active throughout the year. The significant demographic growth of the region contributes to the development of all market sectors, including real estate. Malaga has an excellent social and transport infrastructure. Malaga Airport is connected by direct flights with more than 60 countries.
For up-to-date information on residential properties available for purchase in Malaga, you can contact our experts today and ask any questions you may have about the region, prices and the process of closing a deal. Good luck with your choice!