Housing crisis
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Far from slowing down, house prices in Malaga - and throughout much of Spain - are accelerating. This applies not only to brand-new houses and flats but also to second-hand properties. The rate of increase is approaching levels seen during the real estate boom of fifteen years ago. According to statistics published by the real estate portal Idealista, regarding the prices at which houses go on sale (not the closing price of transactions), pre-owned property in the country have risen by 12% in April (to an average of 2,350 euros per square metre), compared to the figures from a year ago. The increase over the last quarter is no less than 5%.
19.4% is the rate of increase of housing prices in the capital of the Costa del Sol
Only in Madrid and Valencia, with increases of more than 20%, were they higher
In Malaga city, the rate of increase is much higher. According to Idealista's figures, the Costa del Sol capital registered the third highest price increase in Spain: 19.4%, to 3,381 euros per square metre. It was only surpassed by Madrid and Valencia, with increases of 24.3% and 20.3%, to 5,467 and 2,992 euros per square metre, respectively. Close behind is Palma de Mallorca, with a rise of 18.7%, to 4,694 euros.
In Andalucía, the closest rise is that registered in Granada city (14.2%, up to 2,378 euros per square metre). Meanwhile, the increase in Seville is 13.5%, to 2,611 euros per square metre.
With this latest rise, Malaga is the sixth most expensive provincial capital for purchasing a second-hand property, behind San Sebastian, where the square metre is close to 6,000 euros; Madrid, where it is close to 5,500 euros; Barcelona (4,875 euros); Palma (4,694 euros); as well as Bilbao (3,525 euros). Malaga is therefore also the most expensive Andalusian capital, followed immediately by Cadiz (3,030 euros per square metre). The cheapest in the region (and second cheapest in Spain) is Jaén, at 1,215 euros per square metre.
So far we've discussed provincial capitals, but what about the provinces as a whole? In this case, Malaga is the province with the third highest price increase: the rise is 15.5% in April, compared to the same period in 2024. With this, the average price stands at 3,671 euros per square metre. Ahead of it are Madrid, which has registered a rise of 23.2%, to 4,148 euros per square metre; and Santa Cruz de Tenerife, with a rise of 18.4%, to 3,173 euros.
3,671 euros per square metre
on average is the price of a second-hand home in the province of Malaga, compared to 3,381 euros in Malaga city
Breaking from the norm, the average price of used housing in the province of Malaga (3,671 euros) is higher than that in its capital (3,381 euros). Malaga is the fourth most expensive in Spain - and not the sixth, as is the case with Malaga city - only behind the Balearic Islands (4,836 euros), Madrid (4,148 euros) and Guipúzcoa (3,781 euros).
The increases are all over Spain. Second-hand housing is more expensive today than it was 12 months ago in 42 provinces. Meanwhile, by capital city, increases have occurred in all but one (Huesca is the exception). As for regions, increases have been generalised, with only Extremadura registering decreases (-1.2%).
In Andalucía, the average price per square metre closed in April at 2,425 euros, an increase of 13.7%. In both metrics, the region is close to the Spanish average (the average square metre is at 2,350 euros and the average year-on-year increase has been 12%).
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