Malaga has long been one of the most popular destinations for foreign property buyers, especially the Brits.
The province is one of eight that make up the southernmost region of Andalucia and features a slew of enviable locations, including Malaga city and the Costa del Sol (Marbella, Estepona, Benalmadena, etc).
It’s no surprise then that the province has some of the fastest-growing property prices in the country.
According to new data on second-hand homes from property portal Idealista, Malaga city saw a 15% spike in prices in June year-on-year.
It means it has the fastest growing prices out of all eight of the provincial capitals in Andalucia, including the capital city of the region, Sevilla.
Currently, the average second-hand home in Malaga city will cost you €3,459 per sqm, a record high.
And zooming out to the entire Málaga province, the story doesn’t get any cheaper. The average asking price now stands at €3,775 per square metre, also an all-time high – also represnting a 15% year-on-year jump.
It do Costa lot
Coastal hotspots continue to dominate the upper end of the market, the figures show.
Unsurprisingly, Marbella and Benahavis lead the pack, with prices exceeding €5,000 per square metre, climbing 8.3% and 13.2% respectively over the past year.
Estepona (€3,906), Nerja (€3,628), and Torremolinos (€3,633) are close behind.
Head inland for bargains
If you love Malaga province but are on more of a budget, then you will have to head inland, where great deals can still be found.
The lowest prices in the province were found in Sierra de Yeguas, where the average is just €641 per square metre.
That’s followed by Villanueva de Algaidas (€644), Alameda (€669), and Benaojan (€698).
Other inland Malaga areas popular with expats include Coin and Archidona.
Across Andalucia, prices are up in every province except Jaen, where they slipped by 0.4%.
While Malaga led the pack with the sharpest increase (+15%), it was followed by Cadiz (+12.3%), Granada (+10.3%), and Almeria (+9.5%).
Jaen (€837/m²) remains the cheapest province to buy a used home. Its capital is also one of the most affordable, at just €1,262 per square metre, alongside Huelva (€1,459).
