The average price per square meter now stands at 2,327.40 euros, marking an 8% rise over the past year and a 60% increase since 2013. Demand remains strong in Malaga, pushing prices close to their pre-2008 peak, before the real estate bubble burst, according to the latest data.
In the first quarter of 2024, housing prices in Malaga province increased by 8.1% compared to the previous year, as reported by Spain’s Ministry of Housing on Tuesday. This places Malaga fourth in the country for price increases, trailing only Teruel (10.1%), Santa Cruz de Tenerife (9.1%), and the Balearic Islands (8.3%).
Over the past 12 months, the rise in housing prices in Malaga is nearly double the national average of 4.3%. It also surpasses the 6.1% increase seen in Andalucía during the same period. While some regions have already exceeded 2008 price levels—such as the Balearic Islands with a 25% increase and Madrid with a 3.6% rise—Malaga continues to see significant growth.
With an average price of 2,327 euros per square meter, Malaga now ranks as the sixth most expensive province in Spain to buy a home. This places it below Madrid and the Balearic Islands, where prices exceed 3,000 euros per square meter, and just below Guipúzcoa, which approaches that level and remains around 4% below its peak. In Barcelona, the average price stands at 2,645.6 euros per square meter, also slightly below its previous peak.
Conversely, Ciudad Real, Cuenca, and Jaén represent the lower end of the spectrum, where average prices per square meter do not reach 800 euros.
