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Malaga, the capital of the Costa del Sol. has undergone a major transformation in the last 15 years, switching from being a city that tourists pass through en route to somewhere else to a must-see stopover for visitors to the province. Malaga is now a very well-positioned, city destination on an international level, and its popularity is growing beyond the average of that of Spain's other main cities.
However, a key factor in this strong growth has been the supply of tourist accommodation, given that the opening of hotels, which has also taken place at a fast pace, requires more time to materialise than the growth in demand requires. So, currently seven out of every ten places to accommodate tourists in the city are holiday rentals, tripling the number of hotel beds available and multiplying by eight the number of licensed tourist flats. A situation that the mayor of Malaga, Francisco de la Torre, now wants to change by announcing that he will roll out the red carpet for new hotel projects and put in place all the necessary measures to ensure that there is not one more tourist property in the city. Nevertheless, there is still a long way to go from strong words to actual deeds.
One such deed is the report on the impact of tourist housing commissioned by Malaga city council's planning department and drawn up by Espacio Común Coop. Their findings formed the basis of city hall's decision to prohibit new properties aimed at accommodating tourists in 43 residential areas of the capital of the Costa del Sol. The report points out that the situation in Malaga is not an isolated phenomenon among the group of Spanish cities with populations exceeding 500,000 inhabitants.
Moreover, the report points out that Malaga has the lowest increase in this holiday rental offer compared to Madrid, Barcelona, Valencia, Seville and Zaragoza, although the city does register as having the highest indicators of residential tourist pressure in terms of active advertisements in these cities. This study shows that last February the residential tourist pressure exerted by holiday rentals was around 2.77%. An offer that obtains an average annual income of around 30,500 euros, 16% more than in 2023, which means just over 138 euros per day with an average occupancy rate of 72%.
Curiously, the findings also reveal that the area with the highest yield in the profitability of this activity is not exactly in the city centre where 65% of holiday lets are located. In fact, it is in the district around the port, earning the owners 44,900 euros per year. The next big earners are Churriana, the eastern quarter of the city and then only, in fourth place, is the city centre. This also means that 90% of the tourist rental supply in Malaga city is between this district, east of the city, Cruz de Humilladero and the main road to Cadiz.
With regard to the profile of the city's tourist accommodation, the report reveals that 56% of these properties are just one-bedroomed and only 25% have two. Some 13% are rented out by the room and Airbnb is the main platform providing them.
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