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The housing market in Malaga continues to show no signs of slowing down. After a 2024 in which sales and mortgages increased again despite the sharp rise in prices, the first data for 2025 show that the trend continues upwards, especially in the provincial capital. In the last rolling year between the first quarter of 2024 and 2025, Malaga is in second place as the provincial capital with the highest increase in price per square metre in Spain: up 16.1%. Only Madrid was above this percentage at 17.9%. The national average price increase over the last 12 months stands at 10.3%.
As such, just one square metre in the Malaga property market has now reached a value of 2,757 euros (almost 1,000 euros more than the national average price). This new price tag makes Malaga the fifth most expensive provincial capital in Spain behind San Sebastian (4,455 euros per square metre), Madrid (3,971), Barcelona (3,842) and Palma de Mallorca (3,085 euros). During the first quarter of this year the price rise in the city was 2.9%, which is almost double the national average price increase.
From a provincial point of view, Malaga is also at the top of the ranking of housing prices in the last rolling year. In fact, it is the province on the Spanish mainland where it has risen the most: 12.3%, reaching 2,709 euros per square metre. Only Santa Cruz de Tenerife (up 12.9%) exceeds the increase recorded for Malaga. In third place is Madrid with an increase of 11.4%. Next are Valencia (+11.3%), Alicante (+11.2%), Murcia (+10.8%) and Las Palmas (+10%) as the other provinces with increases of more than 10% compared to the same period last year. These upward trends contrast with those of Orense (-3.3%), Badajoz (-2.4%), Cordoba (-2%), Burgos (-1.4%), Ciudad Real (-1.0%) and León (-0.8%) that have all experienced falls in the average sale price of residential property.
As a result Malaga is already the fourth most expensive province for property purchases in Spain, behind only the Balearic Islands (3,140 euros per square metre), Guipúzcoa (3,031 euros/m²) and Madrid (2,835 euros/m²). Vizcaya (2,475 euros/m²) and Barcelona (2,083 euros/m²) are behind Malaga, although they are included among those achieving values above 2,000 euros per square metre. At the other extreme, 14 Spanish provinces continue to have prices below 1,000 euros per square metre, the cheapest being Ciudad Real (647 euros), Cuenca (763), Jaén (819), Teruel (857) and Badajoz (867 euros/m²). Focusing the analysis on the first quarter of this year, the average price of housing has risen by 3.06% in Malaga province as a whole.
The regional director for Andalucía and Extremadura at property valuation company Gesvalt, Gregorio Abril, predicts that this year "Malaga will continue to be one of the major players in the real estate market in Andalucía." He adds: "The figures from the last quarter of our housing report, in which we have recorded the highest price in the region for both property purchases and rentals, consolidate Malaga's position and its attractiveness to both buyers and investors."
For their property consultancy business, these figures show that there are "no signs that this upward trend will reverse in the short term: demand continues to be very high and interest in the region, especially in coastal areas, remains strong." For this reason, Abril believes that everything points to the fact that, in this year, the Malaga property market "will be marked by sustained growth, where access to housing and the lack of supply will continue to be one of the main challenges to be addressed."
The rental market in Malaga does show some signs of moderating after the sharp rises of the last two years that saw double-digit growth in the average price of rented housing. Between the first quarter of 2024 and the first quarter of 2025 the price of renting a residential square metre has risen by 9.8% in the city, compared to 16% and 13.5% in the previous two years. The first quarter of this year has seen an even greater slowdown as the average price has risen by only 2% in those three months.
In the rental ranking of all provincial capitals in Spain, Malaga is the fifth most expensive place to rent a flat, after Barcelona, Madrid, San Sebastian and Palma de Mallorca. It is no longer among the top ten for the highest price increases, although in Andalucía it continues to lead the rest of the pack.
At the provincial level, the rise in rents in the last rolling year has been slightly more intense than in Malaga city itself, exceeding 10% (specifically up 10.1%, reaching 15.76 euros per square metre per month). Andalucía as a whole recorded a year-on-year growth of 9.4% and a price of 10.41 euros per square metre per month. After Malaga come Huelva (up 9.2% and 9.83 euros/m²/month), Seville (+9.1% and 10.60 euros/m²/month), Cadiz (+8.6% and 11.04 euros/m²/month), Granada (+8.3% and 9.39 euros/m²/month), Almeria (+7.6% and 8.78 euros/m²/month), Cordoba (+7% and 7.95 euros/m²/month) and Jaén (+5.7% and 5.42 euros/m²/month).
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