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Property price rise in Malaga is not slowing down: Idealista records a 20% increase in January 2025
Housing

Property price rise in Malaga is not slowing down: Idealista records a 20% increase in January 2025

The cost per square metre in the capital of the Costa del Sol is twice as high as the average in Spain

Tuesday, 4 February 2025, 14:24

The price of housing in Malaga city doesn't seem to be slowing down in 2025. According to property portal Idealista statistics, the price of second-hand flats has been rising by 20.5% year-on-year in January. The square metre price that sellers ask for now stands at 3,237 euros, which means that in the city the bricks and mortar are becoming twice as expensive as the average for the country. In Spain as a whole, the rise in January 2025 was 9.2%, with 2,237 euros per square metre. In Andalucía, the rise was 10.2%, up to 2,293 euros per square metre.

Moreover, only two provincial cities outperformed Malaga: Valencia, where the rise was 23%, to 2,849 euros per square metre, and Madrid, where the increase was 21.8%, to 5,104 euros per square metre. Malaga is ahead of other provincial cities, such as Alicante (where the rise was 15.4%, to 2,249 euros per square metre) or Palma (with an increase of 15.3%, to 4,523 euros per metre, on average).

From an Andalusian perspective, after Malaga comes Granada, with an 11.8% increase in the price of used housing, to an average of 2,292 euros per square metre.

3,237 euros per square metre

This is the average price of housing in Malaga, making it the sixth most expensive provincial city in Spain.

According to Idealista figures, Malaga is the sixth most expensive provincial city in Spain in terms of property prices. The average price per square metre is 3,237 euros, only surpassed by San Sebastian (5,846 euros), Madrid (5,104), Barcelona (4,707), Palma (4,523) and Bilbao (3,485). Immediately behind Malaga in the ranking is Cadiz, where housing now costs almost 3,000 euros per square metre, on average.

13.7% housing rises in the province

In terms of percentage, it is somewhat lower than in Malaga city, although the average price per square metre in the province (3,522 euros) is slightly higher than in the city.

Analysis by province is slightly different. Prices have risen in forty provinces, that is to say, in the majority: only ten are out of line with the general trend, with Ourense at the top of the list, with a price drop of over 5%. The biggest increase was recorded in Madrid, where sellers' expectations rose by 18.6%, followed by Santa Cruz de Tenerife (17.8%), the Balearic Islands (14%), Alicante (13.8%), Las Palmas and Malaga (13.7% in both cases).

So if the city of Malaga takes third place in terms of price rise, the province is at a lower position (fifth), tied with Las Palmas. Therefore, the increase of prices in the province is less marked, compared to what is happening in the city.

In terms of prices per square metre, the Balearic Islands is the most expensive province, with an average price of over 4,700 euros per square metre, followed by Madrid (3,851 euros), Guipúzcoa (3,761 euros) and Malaga, which, in this case, takes fourth place, with an average price of 3,522 euros per square metre. At the other extreme, Ciudad Real (733 euros per square metre), Cuenca (829 euros) and Jaén (831 euros).

Fotocasa, another real estate portal, has also published another report, which puts the year-on-year rise in house prices in the province of Malaga at 15.9% - still among the highest. According to their report, Malaga's square metre price is now 61% more expensive than it was twenty years ago, which is not the case in many other areas. Other provinces, where such a trend can be observed, are the Balearic Islands, with a more than double increase in the past 20 years ago and Santa Cruz de Tenerife, where the increase is almost 88%. Malaga, A Coruña and Alicante are close behind, where the increase in price, compared to 2005 levels, is 52%.

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surinenglish Property price rise in Malaga is not slowing down: Idealista records a 20% increase in January 2025