Malaga City Leads Spain's Hot Property Markets with 107% Price Increase

Discover which other Spanish cities are experiencing a surge in property prices alongside Malaga City's impressive 107% rise since 2014.

The real estate market in Malaga city has experienced a significant surge in property prices over the past decade, according to a recent study by property portal Fotocasa. The data reveals that the cumulative price of a property in Malaga city has more than doubled, increasing by 107% since 2014. This makes Malaga city the second-most expensive provincial capital for buying a second-hand home, following closely behind Palma de Mallorca, which has seen prices rise by 140% over the same period.

In 2014, the average cost of an 80sqm apartment in Malaga city was €135,821. Today, that same apartment would cost around €234,561, reflecting a substantial increase in property prices. Madrid city comes in third in terms of price rises, with a surge of 82% since 2014, followed by Valencia city (66%), Las Palmas de Gran Canaria (55%), Alicante (51%), San Sebastian (46%), Girona (46%), Santa Cruz de Tenerife (45%), and Barcelona (43%).

Across Andalucia, the average cost of an 80sqm home currently stands at €163,400, up from €117,900 a decade ago. The Balearic Islands, the Canary Islands, and the Community of Madrid have seen the largest increases in property prices among autonomous communities. Since 2014, prices in the Balearic Islands have risen by 109%, followed by the Canary Islands (78%) and the Community of Madrid (68%). In contrast, three autonomous communities have experienced a decrease in housing prices since 2014, including Asturias (-5%), Castilla y Leon (-2%), and Extremadura (-1%).

The real estate market in Malaga city has witnessed a significant increase in property prices over the past decade, making it one of the most expensive provincial capitals for buying a second-hand home. The trend of rising property prices is evident across various regions in Spain, with some areas experiencing substantial growth while others see a decline in housing costs.