House prices in the city of Málaga city have broken price records in both the market for sale and for rent, according to data from the Fotocasa Real Estate Index. The capital of the Costa del Sol closed October 2022 with a peak average sales price of €2,783/m2, and a peak average rental price of €12.58/m2. The two figures exceed those registered at the height of the real estate bubble in 2007 when the highest prices in the evolutionary series were reached throughout Spain.
In terms of house sales, the town of Málaga is the second provincial capital, after Palma de Mallorca, to reach new maximum prices with a rise of 13.9% year-on-year, the highest since 2018. Meanwhile, prices in the rest of Spain continue to be around 30% lower than the maximum prices recorded in 2007. Similarly, in the rental market, the year-on-year increase in Málaga amounted to 26.9%, which represents the most pronounced rise since Fotocasa’s Real Estate Index started compiling its records in 2006.
Read the full article in Spanish.
