The residential market in Malaga province continues to grow in 2024, picking up after a slight decline in the quarter three of 2023. The upward trajectory is likely to continue, though perhaps at a slower pace than initially expected.
In Malaga province’s residential real estate market, the average price per square metre is €2,412. Marbella maintains its position as the top-priced residential area, with an average price of €3,202 per square meter. Benalmádena closely follows, with prices averaging €2,423 per square meter.
However, for those seeking more affordable options, the eastern parts of the province, like Velez-Malaga, present opportunities with significantly lower average prices, around €1,391 per square meter. This range of prices caters to diverse preferences and budgets, providing options for both investors and homebuyers.
Luxury market booming
Spain’s luxury residential market is booming, driven by factors such as climate, infrastructure, quality of life, and security, making it an attractive destination for buyers seeking upscale properties exceeding €5 million.
Marbella
Marbella, particularly its ultra-luxury epicentre around Marina Puente Romano, stands out with some of the country’s highest property prices, exceeding €30,000 per square meter. These luxury transactions often occur «off-market,» selling within one to three months.
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The remarkable prices in Marbella are comparable to historic cities like Paris or London.
In Spain’s luxury real estate landscape, a new trend of branded residences has emerged, featuring high-end developments associated with luxury brands like hotels, fashion labels (Missoni), or automotive giants such as Lamborghini.
These branded residences, particularly those offering hotel services, command premium prices, with properties such as Four Seasons leading the market.
