The housing market in Málaga has seen impressive growth, making it one of the most attractive regions for property purchases in Spain. According to statistics from the Colegio de Registradores, which compiles real-time data from property registries, Málaga is now one of the leading provinces in both the number of sales and the percentage of foreign buyers.
High Percentage of Foreign Buyers
In the third quarter of this year, foreign buyers accounted for 34.76% of all property transactions in Málaga, placing the province second, only behind Alicante (43.08%). This marks a significant improvement, as Málaga has previously ranked third or fourth. In 2023, the percentage of foreign buyers was 35.33%, making the region one of the most popular destinations for international property investors.
High Sales Volumes
Málaga ranks as the fifth-largest province in Spain in terms of total property transactions. In the third quarter of 2024, 8,796 transactions were recorded, surpassed only by Madrid, Barcelona, Alicante, and Valencia. In total, 33,254 homes have been sold in Málaga over the past year, a figure higher than in Seville and other major cities.
New and Second-Hand Properties
When it comes to the sale of new homes, Málaga ranks fourth with 2,455 units sold in the third quarter. For second-hand properties, Málaga ranks fifth with 24,566 homes sold over the past year, making the province one of the most dynamic markets in Spain.
Property Prices in Málaga
Property prices in Málaga are among the highest in Spain. The average price per square meter for properties is €2,912, making Málaga the fifth most expensive province in the country. New homes average €3,295 per square meter, while second-hand homes cost €2,763 per square meter. There has also been a significant price increase of 22.3% for homes in Málaga city, the highest increase in Spain.
Summary
Málaga has rapidly become a key player in the Spanish real estate market, with a large proportion of foreign buyers and a high number of transactions. For those considering purchasing property on the Costa del Sol, now is an excellent time to explore the investment opportunities in this thriving region.
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