The Spanish property market is experiencing a remarkable resurgence, reaching heights not seen since the mid-2000s. With record-breaking sales and price increases across Andalucia, savvy investors and homebuyers are seizing opportunities before prices climb even higher.
Leer más: Spanish Property Market Hits Historical HighsFor those considering purchasing a home in southern Spain, the time to act is now—and Soave Property Investments (SPI) is here to help.
Property Sales at a 17-Year High
In September 2024, property sales in Spain increased by a staggering 41.5%, marking the fastest growth in 17 years. A total of 61,887 transactions took place—the highest monthly figure since the 2007 market peak. Experts predict the total number of transactions for 2024 will exceed 620,000, making it the strongest year in nearly two decades.
Both new-build and second-hand properties have driven this boom. New-build homes, in particular, saw sales surge by 54.9% year-on-year, while second-hand properties recorded a solid 38% year-on-year increase. This renewed interest reflects changing buyer priorities, with many opting for modern, energy-efficient homes that align with contemporary lifestyles.
Why Are New-Builds So Popular?
New-build properties now account for nearly 20% of all sales, with 12,531 transactions recorded in September alone. Their appeal lies in a combination of sleek, modern designs, energy efficiency, and compliance with the latest sustainability standards. As buyers increasingly prioritise long-term savings on utilities and a reduced carbon footprint, new-build homes stand out as an attractive option.
Buy luxury properties off-plan and save against resale values.
What’s Driving the Market Boom?
Several factors are fuelling the revival of Spain’s housing market:
- Low interest rates have made borrowing more affordable, encouraging buyers to act now.
- A rise in household savings during the pandemic has boosted purchasing power.
- Limited property availability has created a competitive environment, pushing prices higher.
- Foreign buyers eager to secure Spain’s coveted Golden Visa, before it becomes obsolete at the end of the year, are adding extra momentum to the market.
There’s also a sense of urgency among buyers, who are keen to lock in purchases before prices are projected to rise even further in 2025.
Andalucia: A Region at its Peak
Andalucia, one of Spain’s most sought-after regions, has witnessed historic price increases. In October 2024, the average price per square metre reached €2,256, reflecting a 9.4% year-on-year rise.
Several hotspots in the region are breaking records, offering opportunities for investment and lifestyle upgrades:
Málaga Province
With an average price of €3,436 per square metre, Málaga Province has seen a 12.7% year-on-year increase. Málaga city itself boasts vibrant neighbourhoods like Teatinos, a hub for education, culture, and global business, where prices reached an impressive €3,161 per square metre.
Malaga city – at the heart of it all
Málaga is a cultural and technological hub, offering a dynamic lifestyle, excellent connectivity, and rich heritage. Explore Soave Property Investment’s listings to find your ideal home in Málaga.
Marbella – luxury lifestyle
The epitome of luxury living, Marbella recorded an average price of €4,978 per square metre, up 12.9% year-on-year. Known for its high-end amenities, golf courses, polo fields, and world-class beaches, it’s no wonder Marbella remains a magnet for international buyers.
Looking for a slice of luxury?
Rincón de la Victoria: Family-Friendly Coastal Living
Just a short drive from Málaga, Rincón de la Victoria offers beachside living at an average price of €2,743 per square metre, reflecting a 9.7% year-on-year increase. Its family-friendly atmosphere and proximity to the city make it a top choice for buyers seeking balance.
Casabermeja: Affordable Charm
For those seeking an affordable entry point, Casabermeja offers properties at €1,602 per square metre, up 15.4% year-on-year. With an easy commute to Málaga, it’s an ideal location for those looking to combine affordability with convenience.
Explore Casabermeja properties with SPI.
Torremolinos: A Vibrant Coastal Escape
Prices in Torremolinos climbed to €3,306 per square metre, marking a 20% year-on-year rise. Popular with the LGBTQ+ community and tourists, Torremolinos combines lively beaches and a welcoming atmosphere with easy access to Málaga.
Contact us for off-market properties in Torremolinos
Why Invest Now?
The Spanish property market is showing no signs of slowing down. With prices reaching record highs and demand continuing to grow, buyers face stiff competition to secure their dream homes. For investors, the anticipation of even higher prices in 2025 makes now a prime time to buy.
Soave Property Investments offers unparalleled expertise in Andalucia’s thriving property market. Whether you’re seeking a modern new-build, a luxurious retreat, or a family-friendly home, we’re here to guide you through every step of the process.
Your Dream Property Awaits
Don’t let this historic opportunity pass you by. Contact Soave Property Investments today to explore our wide range of properties and turn your Andalucian dream into a reality.
Start your journey now—browse our listings!
