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Rental price rise in Malaga is three times the Andalusian average

Rental price rise in Malaga is three times the Andalusian average

The average rental price in the province, per square metre, is the fourth most expensive in Spain, behind only the Balearic Islands, Madrid and Barcelona

Cristina Vallejo

Malaga

Tuesday, 13 February 2024, 14:19

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The price of housing property rental in Malaga city has risen by almost 18% in the past 12 months, new data shows.

It now costs an average of 14.49 euros per square metre per month, according to figures from pisos.com. The increase from January 2023 to the same month of this year registered in Malaga city is three times that registered in Andalucía as a whole, where the rise was 5.91%, to just over eight euros per square metre per month.

Malaga city's rental hike also exceeds that recorded in Spain, where the average increase recorded was 7.78%, to 11.22 euros per square metre. However, compared to other places in Spain, rent in Malaga is significantly lower than for example in Barcelona, where it costs 24.71 euros per square metre per month, Madrid (20.80 euros), San Sebastian (17.88 euros), Palma (16.93 euros), Valencia (14.90 euros), as well as Bilbao (14.64 euros). Malaga is the seventh most expensive Spanish city to rent, according to the figures.

In Andalucía, Malaga is, without comparison, the most expensive city to rent in, followed by Seville (12.04 euros per square metre per month) and Cadiz (11.62 euros).

The price of rent increased in Malaga city by 1.43% this January compared to December in 2023, while in Seville the rise was 1.70%, and in both Huelva and Cadiz it exceeded 2%. Does this mean a certain slowing down in Malaga and other cities in the region are taking over the role of captaining price rises?

Malaga province

Up to this point we have dealt with prices in the city, but what is happening in Malaga province? Its average rent, at 12.05 euros per square metre, is the fourth most expensive in Spain, behind only the Balearic Islands (16.69 euros), Madrid (15.64 euros) and Barcelona (15.22 euros).

This figure for the average rental price in Malaga comes after a price increase of 13.79% was recorded in the province, in this case surpassed by the province of Seville, where the increase was around 16% (up to 7.27 euros per square metre per month). However, there are two other Andalusian provinces where the price of rent has fallen in comparison with the figures of 12 months ago: Almeria, with a fall of around 5%, to 5.65 euros per square metre per month, while in Jaen the fall is around 10%, to 4.60 euros, and in Cordoba, 8%, to 4.07 euros.

In the region there is a great disparity in prices: by provinces, these range from 12 euros in Malaga to 4.07 euros in Cordoba. The most expensive area in the region is three times more expensive than the cheapest, the figures show.

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