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Spain's Ministry of Housing and Urban Agenda has confirmed what other statistics have been stating in recent weeks: Malaga continues to lead the country's price rises for bricks and mortar. In 2024 the average price per square metre in the province rose by 11%, to 2,522.20 euros, putting Malaga in second place for percentage increase, only behind the Balearic Islands where the increase was 12.1%.
In terms of the actual price per square metre, Malaga occupies sixth place in the Spanish ranking, behind Madrid (3,370.50 euros), the Balearic Islands (3,316.70 euros), Guipúzcoa (2,986.30 euros), Barcelona (2,766.90 euros) and Vizcaya (2,552.10 euros).
11% increase in the price of housing in Malaga
The average appraisal value stood at 2,522.20 euros. In the whole of Spain the increase was 7%, an average of 1,972.10 euros per square metre.
In Spain, according to the latest official data published on Wednesday, the average price per square metre stood at 1,972.10 euros at the end of 2024, indicating a year-on-year increase of 7%. Malaga, therefore, exceeds the average both in price and in the rate of increase. The official data correspond to the appraised value.
Last year there were no provinces recording any price drops. That said, if we take inflation into account, in real terms there were several areas in the country where rises were lower than the CPI (consumer price index), so the increase in the value of housing was eaten up by the increase in the cost of living. For example, in Salamanca the price rise was only 1% to 1,230.70 euros per square metre. In Andalucía the most modest increase applied to Cordoba (up 1.8% to 1,139.60 euros).
Ciudad Real is, meanwhile, the province in Spain where housing is the cheapest (725.50 euros per square metre at the end of 2024). Meanwhile, Jaen is the most affordable in Andalucía at 813.90 euros per square metre.
We now know where Malaga ranks for housing prices in Spain as a whole, so it is time to see how the different municipalities in the province which includes the Costa del Sol are performing. The average price per square metre in the province rose by 11% last year, to 2,522.20 euros. Among the municipalities with over 25,000 inhabitants, which corresponds to the highest level of detail provided in the breakdown from the Ministry of Housing, only two towns in the province recorded rises of less than 10% for housing: Antequera and Ronda. In the former, the rise was 7.4%, to 1,184.20 euros per square metre. As for Ronda, the increase was 9.76% to 1,214.40 euros per square metre.
20.4% is how much housing went up by in Estepona
It was the town where the price of 'bricks and mortar' rose the most last year (2,347.50 euros per square metre).
In the other ten large municipalities, the rises were well over 10%. The strongest increase was in Estepona, with a rise of 20.4% to 2,347.50 euros per square metre. Prices rose between 18% and 19% in Benalmádena, Fuengirola, Marbella, Mijas, Vélez-Málaga and Torremolinos, between 16% and 17% in Malaga city and Rincón de la Victoria and 13.7% in Alhaurín de la Torre.
Looking at how prices have behaved in 2024, Marbella continues to be the most expensive place in the province to buy a roof over your head, with the average price per square metre standing at 3,037 euros. This is followed by Fuengirola and Torremolinos, both with the average assessed value at 2,646 euros, a similar figure to Benalmádena's. Housing is also more expensive in Rincón de la Victoria (2,438.40 euros) than in Malaga city itself.
Among the most populous municipalities in Malaga, of those with more than 25,000 inhabitants, Antequera is the cheapest place to buy a property, with a price per square metre of 1,184.20 euros, followed by Ronda (1,214.40 euros) and Vélez-Málaga (1,807.50 euros). These are the only three of the most populous towns in the province where housing costs less than 2,000 euros per square metre and, therefore, also the only three where the value of housing is below the national average for Spain.
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