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Some 32.35% of the property transactions in the area - which includes the Costa del Sol - involved foreign buyers, a figure only beaten at a national level by Alicante and the Balearic IslandsCristina Vallejo
Friday, 21 February 2025, 15:20
Malaga was the third province in Spain in which the highest number of new homes were sold in 2024. According to figures from the Spanish association for property registrars, during the last financial year in the province there were 10,777 transactions involving brand new homes, a volume that was only exceeded in Madrid (16,671 homes) and Barcelona (12,014). Malaga was ahead of Alicante (9,368), Valencia (5,996) and Seville (5,112).
However, in the ranking of sales of used homes, Malaga stands further behind in fifth place. In the last 12 months second-hand property transactions in the province totalled 24,434, a figure that is behind that of Madrid (60,952), Barcelona (52,055), Alicante (42,494) and Valencia (32,774).
The other noteworthy information to take from these figures, however, is that in Andalucía Malaga continues to be ahead of Seville, a province in which the number of transactions of pre-owned properties was limited to 17,366 units.
As a whole, adding together both new and used property transactions, Malaga is in fifth place in the national ranking. During the 2024 financial year, according to the statistics compiled by the association of registrars, the total number of property transactions recorded in Malaga was 35,211, a figure below that of Madrid (77,623), Barcelona (64,069), Alicante (51,862) and Valencia (38,770).
These 35,211 sales of homes in Malaga last year represent a year-on-year growth of 3.5%. This is a very modest increase compared to those of Madrid and Barcelona, which were up at around 10%.
Still, if we again separate between the performance of brand new and second-hand housing in Malaga, we get a very imbalanced set of readings. This is because sales and purchases of used flats in the province recorded a decline of almost 11% last year, amounting to only 24,434, whereas sales of new homes soared by 63.2% to 10,777 transactions.
Only in Cuenca was the growth even higher at nearly 200%, although the Cuenca market for new housing is much smaller, so last year that growth explosion was limited to only 320 transactions.
The registrars’ association also reports on the proportion of property deals taking place in the provincial capitals compared to the rest of the province. In the case of Malaga, the city accounts for 18.95% of all transactions in the province, a far cry from, for example, Cordoba, where the city accounts for around 58% of the provincial total. Nevertheless, in the case of Cadiz, for example, the city accounts for just 7.6% of business.
In terms of property transactions involving foreigners, specifically in the fourth quarter of last year, Malaga was the third most important province, with 32.35% of the transactions carried out by foreign buyers.
The province which includes the Costa del Sol was behind only Alicante (45.67%) and the Balearic Islands (32.81%), but ahead of, for example, Santa Cruz de Tenerife (30.66%) and Girona (28.86%).
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