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A couple househunting on the Costa del Sol.
Spanish property prices are rising most on the Costa, says survey

Spanish property prices are rising most on the Costa, says survey

The almost eight per cent increase in Malaga province is being driven by residential tourism on the coast as prices in Malaga city have hardly risen

NURIA TRIGUERO

Wednesday, 13 November 2019, 19:41

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The feeling you get on the streets that property is dearer has just been confirmed with hard data; Malaga province, including the Costa del Sol, has seen the biggest increase in the price of housing in the country.

According to Pisos.com, a home search internet site, the average price of second-hand homes rose 7.9 per cent in the province in the last year, reaching 2,402 euros per square metre. The Malaga area is now the fifth most expensive province in Spain in which to buy a property, behind the Balearics, the Basque provinces of Gipuzkoa and Biscay, and Madrid.

The sharp rise in Malaga province is being put down to the influx of more residential tourists looking to buy a second home in the sun. In contrast, prices have hardly risen in Malaga city in the last year.

This slowdown in the main city of the province is in contrast to other provincial capitals nearby -Cadiz has risen by nine per cent in the last year.

Steady market growth

A spokesperson for Pisos.com warned that prices aren't going to give any "big surprises" in the coming months. He also highlighted that the market has undergone a "very gradual" improvement in recent years, growing "slowly but surely". This growth means the market recovery has come "in a sustainable and, above all, solid way, so we can take an optimistic view on the future".

The highest price per square metre in Spain, in the Balearics, is 3,122 euros, while the cheapest provinces were in the Castilla-La Mancha region, where the average here is 890 euros per square metre.

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