In addition, Malaga is a dynamically developing city, where new houses and residential complexes are being built, transport and other infrastructure are being developed.
On the other hand, as elsewhere in Spain, housing in Malaga can vary in price by an order of magnitude – it all depends on the location, age and condition of the buildings, the presence of the necessary infrastructure and the number of local residents.
The same can be said about the city’s districts; Both Spaniards and foreigners flock to some, while others try to avoid everyone. A classic example is La Palmilla, where the level of education among the local population is the lowest in Malaga, but crime in all its forms is rampant.
However, this does not mean at all that in Malaga you cannot find cheap, but quite decent residential property with the same surroundings from neighbors. The capital of the province of the same name offers a wide selection of housing, which is designed not only for buyers with serious financial capabilities. However, Malaga has a reputation as a city for wealthy people who want to find comfort and tranquility here for themselves and their families.
Housing in Malaga for wealthy people
Housing in Malaga for lovers of entertainment and vibrant nightlife is located in the historical center of the city, where not only offices and shops are located, but also bars, restaurants, nightclubs, concert halls and other entertainment venues.
In recent years, a serious reconstruction of streets and buildings has been carried out, many of which were built in the century before last and have not been renovated since then. The main attraction of the Centro histórico is the Center for Contemporary Art, built in the Soho quarter.
Not far from the historical center is La Malagueta, which also borders the embankment. Luxury housing in Malaga is concentrated in this area, although it is essentially a tourist area, and very often local property owners rent it out for an average of 1,000 euros per month.
It will cost twice as much to buy and rent in the most fashionable area of Malaga, El Limonar. Only very wealthy citizens can afford to settle here, for whom personal life hidden from prying eyes is of no small importance.
El Limonar is usually dominated by expensive villas and gated urbanizations, which have swimming pools, tennis courts, sports and playgrounds. High-end areas, only slightly inferior in luxury, include La Caleta, Pedregalejo, Pinares de San Anton and Lomas de San Anton.
Housing in Malaga for the middle class
Several districts of Malaga can be classified as oriented towards representatives of the middle class. The buildings in them were built mainly in the middle of the last century or a little later, but have already undergone major renovations. For the most part, they are inhabited by indigenous residents of the city, although foreigners are gradually showing interest in them.
One such area is the Carretera de Cádiz, where there are many green areas and places to relax with children. They are especially abundant in the new quarter of Avenida Pacífico, where many playgrounds have been built, and you can leisurely walk to the sea. In addition, Carretera de Cadiz has very well-developed transport links, and you can leave here either by metro or by bus.
Housing in Malaga also belongs to the middle class, which is located in the Teatinos district, in the western part of the city. This area is called “student area” due to the fact that the University of Malaga and many other educational institutions are based here. This area was built not long ago, so the infrastructure includes many tennis courts, mini-football grounds and other sports facilities. Of course, the city authorities took into account the need of young people not only for study, but also for entertainment, and therefore opened discos, bars and nightclubs here. The rental price is also designed for students and young families and ranges from 700-900 euros per month.
Accommodation in Malaga – prices
In addition to being one of the top ten most populous cities in Spain, Malaga is also among the leaders in the cost of residential real estate and ranks first in all of Andalusia for this indicator.
Thus, the average price of a “family” apartment in a new building ranges from 220 thousand to 275 thousand euros, depending on the area, which on average reaches 170 sq.m. At the same time, the price of one square meter is more expensive for apartments designed for one person than for a family.
Average price of one square meter in new buildings in selected areas of Malaga (euros):
|Price € per sq. m.
|Carretera de Cadiz
|Cruz de Umilladero
|Alhaurin de la Torre
|Rincon de la Victoria
The most offers are recorded in the “student” Theatinos, followed by Carretera de Cadiz and El Limonar. In the latter case, the acquisition of new real estate is often in the nature of an investment, because local prices – already the highest in the city – will continue to rise.
Secondary housing in Malaga has a more modest size (usually between 60-80 sq.m.), and its average price by the summer of 2019 was 2587 per 1 sq.m. Be that as it may, when choosing an apartment you should focus on the area. So, in Teatinos you need to count on a budget of 180-220 thousand euros, in the historical center of Malaga – from 250 to 350 thousand euros, and in El Limonar and La Malagueta – from 450 thousand euros.
The lowest house prices in Malaga are recorded in areas such as La Palmilla, Los Asperones and La Cruz Verde. However, the low cost of local apartments should not mislead potential buyers. The point is not even in their deplorable condition and the need for major repairs, but in the fact that these areas are traditionally disadvantaged, and, despite all the efforts of the Malaga police, continue to remain so to this day.