Property Prices Rising Again On The Costa Del Sol

Property Prices Rising Again On The Costa Del Sol. Property prices have recovered from a dip at the end of last year with purchase and rental average prices continuing to rise.

Property Prices Rising Again On The Costa Del Sol

Property prices on the Costa Del Sol are once again rising, following a dip in values at the end of last year. Figures for the first quarter of 2024 show that average sales prices have increased by 1.2% and rental prices have increased by 3.2%. The average property value on the Costa Del Sol is now €2412 per square metre. Rental average prices are now €14.32 per square metre, which is a 13.5% increase year on year.

Malaga is one of Spain’s most popular cities for buyers.

Malaga Property Sales Soar

Malaga is now one of the most popular cities in Spain for property buyers. Buyers are drawn to the city for several reasons, which include:

Tourism: Malaga is a popular tourist destination, known for its beautiful beaches, rich cultural heritage, and vibrant nightlife. The influx of tourists drives demand for rental properties, particularly in coastal areas such as Marbella and Estepona.
Lifestyle: Many people are drawn to Malaga for its high quality of life, pleasant climate, and relaxed Mediterranean lifestyle. Expatriates, retirees, and digital nomads are among those who choose to purchase property in the region for both vacation homes and permanent residences.
Infrastructure Development: Malaga has seen significant infrastructure development in recent years, including improvements to transportation networks, such as the expansion of the Malaga airport, and the construction of modern amenities like shopping centers, hospitals, and schools. These developments enhance the overall appeal of the region for property buyers.
Affordability: Compared to other European cities, property prices in Malaga are relatively affordable, especially when considering the quality of life and amenities available. This affordability attracts both domestic and international buyers looking for investment opportunities or second homes.
Investment Potential: The property market in Malaga offers attractive investment opportunities, with the potential for rental income from short-term holiday rentals or long-term leases. Additionally, property values have shown steady appreciation over time, making it an appealing option for investors seeking capital growth.

Published: 27.04.2024

Written by Dave James.