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Housing in Malaga now costs almost double the Andalusian average
Property

Housing in Malaga now costs almost double the Andalusian average

While the price in the province exceeds 3,000 euros per square metre, in the wider region it is around 1,700 euros

Cristina Vallejo

Malaga

Monday, 6 May 2024, 19:04

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Housing prices are continuing to rise in Malaga province, with the cost going up by 2.49% in a single month in April to 3,130 euros per square metre, new data shows.

In Malaga city, prices shot up by 2.74%, to 3,514 euros per square metre last month, according to data released by real estate portal Pisos.com. This means that buying a house in Malaga city is twice as expensive as the Andalusian average, where the average price of housing stands at 1,761 euros per square metre, having risen by 1.84% in the past month.

While in the region, the increase in the price per square metre is 13%, in Malaga city it is almost 22% and close to 20% in the case of Malaga province, the data shows.

21.77% the rate housing in Malaga city has risen in the last year

In Andalucía, the increase is limited to 13%.

If Malaga is the most expensive city and province in the region, it is followed by Cadiz: in Cadiz city, the price per square metre is 2,855 euros, while in the province it is close to 1,900 euros. And in third place is Seville, costing 2,500 euros per square metre in the city, and an average of 1,677 euros in the province.

According to the data, while in Malaga price rises are not slowing down, in Cadiz city the growth of housing is already languishing: in April it fell by 0.17% and in the last twelve months its increase in price has not reached 3%. Meanwhile, in Seville, the increase in prices in the city and in the province is around 9% year-on-year.

719 euros per square metre

is the average price of housing in Jaén, the cheapest province in Andalucía.

The cheapest province in the Andalucía region is Jaén, the data shows. In the city of Jaén, the square metre price was 1,132 euros at the end of April. In the province, this fell to 719 euros. This means that in Malaga city, the price of housing is almost five times higher than the average in the province of Jaen. And if we compare the two cities, buying a property in Malaga city is three times more expensive than in Jaén. However, the price of housing in Jaén is quite stable: it has remained practically flat in April and compared to the levels of a year ago, the rise is barely 1.5% in the province and just under 3% in the city.

Jaén and Malaga, therefore, are the two extremes of the Andalusian property market: the former is the only one where average prices are below 1,000 euros per square metre and the latter is also the exception with prices above 3,000.

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