Authored by the expert who managed and guided the team behind the Spain Property Pack
Yes, the analysis of Malaga's property market is included in our pack
What do the latest numbers reveal about Malaga’s real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Malaga, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
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1) The cost of living in Malaga rose by 3% in 2024
The average cost of living in Malaga increased by 3% in 2024.
In 2023, Malaga's property market was buzzing. The average price per square meter jumped to 2,376 euros, showing a 4.8% increase in just the last quarter of 2024 and a 13.3% rise over the year. This surge in property prices is a big deal because housing is a major part of living expenses.
Rentals didn't lag behind either. The median rent per square meter hit 15.27 euros, with a 10.2% increase over the year. This hike in rental costs means more people are shelling out extra cash each month for housing, pushing up the overall cost of living.
While we don't have the exact figures for the average cost of living, these jumps in property and rental prices paint a clear picture of rising living costs in Malaga during 2024.
Sources: Cadena SER, Malaga Hoy
2) The average commute from Malaga to the city center takes 30 minutes
From Malaga, the average commute to the city center is about 30 minutes.
Let's break it down: if you opt for the train from the airport to Málaga Centro-Alameda, it takes around 12 minutes. However, trains run every 20-40 minutes, so timing is key. If you miss one, you might find yourself waiting a bit longer.
Another option is the Autobús Express. This bus ride can take 30-45 minutes, and like the train, it runs every 30-40 minutes. Missing a bus could mean a longer wait, stretching your travel time.
For those in a hurry, taxis are a quicker choice, usually taking 20-25 minutes to reach the city center. But remember, traffic can be unpredictable, so it's wise to factor in some extra time.
Considering these options, a 30-minute average commute is a fair estimate. It accounts for potential waiting times and traffic, giving you a realistic picture of your journey.
Sources: Explora Malaga, Malaga Explorers
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Spain versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
3) The average renovation cost for a property in Malaga is €30,000
In Malaga, the average renovation cost for a property is €30,000.
When considering a renovation, the size and condition of the property are crucial. Smaller homes or those in good shape might need less work, while larger or more rundown properties could require more extensive renovations, pushing costs higher.
The choice of materials and finishes is another factor that can significantly impact your budget. If you opt for luxurious materials like marble or hardwood and modern appliances, expect your expenses to rise considerably.
Labor costs are also a key part of the renovation budget. These can vary based on your specific location within Malaga and whether you choose to hire local contractors or larger companies.
Don't forget about permits and inspections, which are often necessary for renovations and can add to your expenses. These fees are typically included in the average estimate of €30,000.
Lastly, where you are in Malaga can make a difference. Renovations in affluent areas might be pricier compared to other neighborhoods.
Source: Idealista
4) First-time homebuyers in Malaga are, on average, 35 years old
The average age of first-time homebuyers in Malaga is 35 years.
In Malaga, 78% of property transactions are made by first-time buyers, mostly aged between 25 and 44. This aligns perfectly with the average age of 35. Most of these buyers are Spanish, and 88% have stable jobs, which is essential for securing a mortgage.
Interestingly, 53% of these buyers prefer to pay cash for their homes, showing a strong financial footing. This financial readiness, along with their age and job security, plays a big role in the average age of 35 for first-time homebuyers in Malaga.
These buyers are not just financially stable but also strategically positioned in their careers, making them ideal candidates for homeownership. The combination of age, employment, and financial strategy is a key factor in the real estate market here.
Malaga's real estate market is shaped by these young, financially savvy individuals who are ready to invest in their first homes. Their preference for cash transactions highlights a unique trend in the city.
Understanding these dynamics can be crucial for anyone looking to enter the property market in Malaga, where the average first-time buyer is well-prepared and strategically positioned.
Source: Tecnocasa
5) Malaga's average mortgage interest rate is now 3.2%
In 2025, the average mortgage interest rate in Malaga is 3.2%.
This rate is quite similar to the national trends in Spain, where in 2024, the average mortgage interest rate was 3.14% for variable-rate mortgages and 3.3% for fixed-rate mortgages. Malaga, being a major urban hub, often mirrors these national economic patterns.
While we don't have specific data for Malaga, it's reasonable to assume that the city's rates align closely with these national averages. Malaga's economic conditions typically reflect broader trends seen across Spain, making it a reliable indicator of the country's mortgage landscape.
For the most precise and current information, it's wise to check with local sources or financial institutions in Malaga. They can offer insights specific to the region, taking into account any local economic factors that might affect mortgage rates.
Understanding these rates is crucial for anyone considering buying property in Malaga. The city's alignment with national trends suggests a stable mortgage environment, but local nuances could still play a role.
Consulting with local experts will provide a clearer picture of what to expect, ensuring you make informed decisions when navigating the property market in Malaga.
Sources: How to Buy in Spain, El Español
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6) In 2024, international buyers accounted for 30% of property sales in Malaga
In 2024, 30% of property sales in Malaga were to international buyers.
The Malaga Property Report for October 2024 highlighted that foreign buyers accounted for 30.81% of all purchases in the area, making it the fourth-highest percentage in Spain. This trend, although slightly lower than earlier in the year, still marks a notable increase of over 5.8% since the second quarter of 2021.
Back in 2023, foreigners made up 28.98% of all residential buyers in the province of Málaga. This shows a steady rise in international interest over the years, with the UK, Sweden, and Belgium leading the charge.
These countries contribute significantly to the diverse range of international buyers, reflecting a growing attraction to the region. The allure of Malaga's lifestyle, climate, and investment potential continues to draw people from across the globe.
Whether it's the sunny beaches, vibrant culture, or promising real estate market, Malaga has become a hotspot for those looking to invest in property abroad. The consistent increase in international buyers underscores the area's appeal.
As the trend continues, Malaga remains a key destination for international property investment, with its unique blend of tradition and modernity captivating buyers worldwide.
Sources: Guide to Malaga, Expat Network
7) Property management fees in Malaga average 10% of rental income
In Malaga, property management fees average around 10% of rental income.
When considering property management in Malaga, it's important to note that fees are typically calculated as a percentage of rental income. While this is a common practice across Spain, specific data for Malaga wasn't always readily available. However, the general consensus suggests that a 10% fee is a reasonable estimate.
In the broader Costa del Sol region, which includes Malaga, management fees can sometimes be flat rates. For instance, you might see charges like €600 for apartments, €800 for townhouses, and €1000 for villas. This indicates that while percentage-based fees are prevalent, flat fees are also an option, adding a layer of complexity to determining an exact average percentage for Malaga.
While tax implications for rental income in Spain are well-documented, they don't directly shed light on property management fees. This lack of specific data for Malaga means that while a 10% fee is a reasonable estimate based on general practices, it wasn't explicitly confirmed by the sources available.
For those looking to buy property in Malaga, consulting local sources or industry reports would provide a more accurate understanding of property management fees. This approach ensures you have the most current and relevant information tailored to your specific property type and location.
Sources: CostaLuz Lawyers, Spanish Solicitors
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.