Malaga’s Property Market Soars to New Heights!

If you’re looking to buy property in Spain, Malaga province is where the action is! According to the latest report from appraisal firm Tinsa, Malaga’s house prices are rising faster than anywhere else in the country. In the final quarter of 2024, prices in Malaga surged by an impressive 13% annually, with Malaga City leading the charge with a 12.4% increase—the highest of any municipality in Spain!

The cost per square meter in Malaga has now reached €2,376, marking a 4.8% rise in just three months. While Malaga’s prices are soaring, they still trail behind the Balearic Islands, where prices hit €3,187 per m² (a 10.9% hike). Madrid and Barcelona follow with €3,172 and €2,620 per m², respectively.

Within Andalucia, Malaga’s property prices are the highest, surpassing €2,185 per m² in Sevilla. The Tinsa report also breaks down house prices within Malaga City’s 11 districts, revealing price increases ranging from 6.5% in Campanillas to a whopping 28.1% in Palma-Palmilla. Most districts saw growth between 10% and 15%, with the Centre, East Malaga, Ciudad Jardin, and Teatinos-Universidad leading the pack.

The most expensive square meter in Malaga City is in the east, costing €3,504, followed by the Centre at €3,024, and Teatinos at €2,808.

What’s driving this surge? Tinsa attributes it to lower mortgage costs and easier access to credit, which has boosted demand, especially among non-Spaniards. The average mortgage loan in Malaga stands at €193,348, the third highest in Spain, with an average monthly repayment of €980, set to decrease due to lower interest rates.

So, whether you’re a local or an international buyer, Malaga’s property market is hot right now! Are you considering investing in this vibrant region?

Find the latest properties for sale and rent in Malaga here.