Find out how much it costs to buy a property in seven of the most popular tourist towns in the province of Malaga.
The prix AVERAGE of sale of a property in the province of Malaga amounts to €4,246/m2, which represents an increase of 11.7% year-on-year and 1.9% quarter-on-quarter, according to data from the real estate big data platform Brains Real Estate.
L’purchase ofhousing in this Andalusian province, where 83% of the supply is intended for this market segment, costs on average €902,114.
On the other hand, the average publication time, that is to say the period that a real estate passes on the market from its marketing until its saleis 4.7 months. This figure has remained relatively stable over the past 2 years.
1- Marbella
Marbellaa municipality belonging to Malagahas established itself as one of the most exclusive and prestigious destinations in Europe. This city located on the shores of the Mediterranean has 156,295 inhabitants.
The price of l’real estate in this luxurious town on the Costa del Sol has recorded records since the 1st quarter of 2020 (3,630€/m2) until today, where it has reached 6,349€/m2. Over the last twelve months it recorded an increase of 12.6%, while on a quarterly basis it increased by a further 2.5%.
L’purchase ofa property has Marbella represents an average expenditure of more than 2 million euros. This price has also increased over the last 3 years.
The publication deadline is 5 months. This figure increased significantly after the Covid-19 pandemic when it fell to 2.9 months.
2- Torremolinos
Torremolinoslocated 13 kilometers from Malaga, has a population of 70,434 inhabitants, 19.66% of whom are foreigners, according to INE data.
As for the prix of housing in this tourist town on the Costa del Sol, it amounts to €3,254 per m2, after having increased by 16.3% from one year to the next and by 3.8% over the last 3 months . We also see that Torremolinos recorded record numbers.
Regarding the billetsthe current price ofpurchase of a property in this city is a little over €380,300. This figure has increased since the start of last year by more than €65,500.
Finally, the publication time is 3.6 months, a value that has been falling continuously since mid-2022.
3- Benalmádena
In 3rd position is Benalmadenawhich, with 75,801 inhabitants in 2023, is the 7th most populous municipality in the province.
In this city, prices increased by 13.8% last year to €3,607 per m2, and by 3.4% from one quarter to the next, according to data from the real estate big data platform. Brainsre.
On the other hand, thepurchase ofa property has Benalmadena involves an expense of more than €656,390. This figure has increased by 6.2% over the last 2 quarters.
As for the publication deadline in this municipality, it is 4 months. Although this figure has not returned to previous values, it has managed to decrease and remain stable at present.
4- Alternating
Mijas is one of the largest municipalities in the province and has 91,691 inhabitants, making it the 3rd municipality in the province in terms of population, behind Malaga and Marbella.
The price of l’real estate in this part of the Costa del Sol currently stands at €3,218/m2, having recorded an annual increase of 12.6% and a quarterly increase of 3.4%. In the chart we can see how the price has increased quarter after quarter consecutively since the start of 2021.
L’purchase ofa property has Mijas involves an average expenditure of €612,368. On the other hand, the publication time is 4.6 months. This figure increased to 5.5 months due to the coronavirus, and only managed to decrease to current values.
5- Estepona
Estepona is a popular international tourist destination, with a wide range of hotels and sports and leisure facilities. It also hosts a large number of second homes.
As for the price of real estate in this attractive town, they amount to €4,357 per m2, an increase of 9.8% year-on-year and 4.2% over the last 3 months. Once again, record prices are also recorded there, with consecutive increases since the 2nd quarter of 2020.
If we talk about entrance ticketthe current price ofpurchase of a property has Estepona amounts to €833,718. This figure has increased by 11.5% over the last 2 quarters.
Finally, the publication deadline is 5 months.
In addition to the 5 municipalities mentioned above, we will also mention Fuengirola et Nerja.
Fuengirola has a population of 85,598 inhabitants. Currently its price is 4,058€/m2, having recorded an increase of 16.1% over the last 12 months and 4% over the last 3 months. To buy a property in this town, you need on average more than €554,780.
Finally, Nerjawhich has a population of 21,913 inhabitants, has a sale price of €3,045/m2. Year-on-year it increased by 7.4%, while in the last quarter it grew by another 6.3%.
Source : Brainsre
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