Malaga is regarded as among the most attractive locations for all investors out there. The secret behind this is its higher returns, rapid development, great weather, and much more, attracting many foreign investors showing interest in its real estate market.
In light of the rapid development of many properties in this city, various Malaga properties for sale among investors continue to attract foreign investors.
On average, the sun shines 300 days a year, and the sea breeze keeps the summer temperatures at around 30०C, compared with 36०C just inland, making Malaga the perfect place to buy a property. This is what makes Malaga attract countless property buyers from around the world.
According to Brains, housing prices in this region range from €2800 per square meter, making it one of Spain’s most expensive provinces.
This article will provide an in-depth understanding of a Malaga property for sale as we explore each aspect.
Properties for Sale in Malaga, Spain
The pleasant weather of Malaga, the low cost of living in the city, and the slow pace of life in this region are attracting more and more foreign real estate investors from many countries around the world.
Spanish real estate investment provides in-demand rental income streams and healthy capital returns.
Nevertheless, Malaga is one of the most popular locations in the world for investing in real estate. There has been sustained growth in property value in Malaga over recent years, be it for the sake of the golf courses of Costas or rural hideaways with whitewashed village houses in the interior. The property demand is likely to stay for quite some time.
Malaga is a city with a rich real estate market, offering a wide range of options for investment.
The view of Malaga Bay is one of the most striking features of most of the villas and apartments in Malaga. Ideally, they are the perfect choice if you want to stay away from the daily hurdles and the hustle and bustle of a city but still enjoy the tranquillity of a village and the developed infrastructure of a park.
Several factors make buying property in Malaga, Spain, appealing for various reasons. A home is governed by the Spanish constitution, which gives the right of ownership to every citizen.
The most striking factor is its pricing, which may rise anytime now with its growing demand, making it the most highly sought-after market with many investors investing their money in it now.
Property for Sale in Malaga Province
Many foreigners have been buying property in Malaga province for decades, making it a popular choice for foreign buyers. However, homes in Malaga city have been joining the list of must-buys on the rise recently.
According to the European Commission survey, it has been identified that Malaga province has the best quality of life in Spain. The city has only improved over the past few years, and it now has a beautiful old town, a promenade that has been refurbished recently, and excellent museums and restaurants.
Tapas, bars, and restaurants abound in this condensed historical centre, which is known for its small size and area. Now that it has become such a lovely spot, it is the perfect place to stroll in the evenings to enjoy tapas and a few glasses of wine.
According to the latest statistics (Q3 2022) released by the Registrars Association for the Malaga province, many investors have decided to turn to the province to make the most of it. Let’s have a look at the latest statistics for the province:
- As of September 2021, 10,919 sales were recorded from July to September. This represents an increase of 39.6% over the same period last year. It is evident that the property market was experiencing a substantial increase in sales from the same period last year, which means the market has outperformed its pre-pandemic levels in terms of sale volume.
- According to statistics, Malaga had 2,071 new-build properties sold last year, making it the third largest region among Spanish.
- The number of foreign purchasers is the third highest in Spain, accounting for 33.95% of all purchases, up 1.19% from last quarter. There were more British buyers than any other nationality.
- Tinsa released its Q3 report, which revealed that Malaga had recorded the highest number of sold properties per supply per 1,000 properties. As a result of the province’s housing market, 44.7 homes were sold per 1,000 properties in comparison to 27.3 sales on a national level.
So, where does Malaga’s property market stand?
Several Malaga properties were sold every day between January and April in the province in 2022, the same as in 2021. This year appears to produce results similar to those achieved last year with the arrival of Vodafone, Citibank, and other banks in Malaga and continued foreign demand.
Further, there is no doubt that a rise in mortgage interest rates will affect sales, at least in part, particularly in the resident market, which is expected to slow the pace of sales significantly. Despite this, analysts think there will be a high level of demand in the city since investor capital is still very widely present there.
The decision between buying now or waiting to see how the market develops will depend on several factors, including whether you are looking to take advantage of the rise in rental rates and the increase in tourism by investing in a short- or long-term buy-to-let investment. Other purchasers may want to wait to see what developments take place.
Before reaching any conclusion, always ensure to run through the proper research and compare all the prices of property for sale in Malaga, Spain.
Need assistance? Do not worry! We at P&A Property Sourcing, among the renowned property sourcing company, is here to assist you in purchasing a new property in Malaga and make every way possible to get the best price for the property.
What are your tips for buying property in Spain?
Spanish property remains one of the most popular destinations to buy properties for British people who want to relocate to Spain. These are some of the most important tips you need to know when buying a property in Spain:
1. Research the market
2. Employ a qualified adviser
3. Get mortgage loans
4. Research the cost of purchase
What is the best place to buy an apartment in Spain?
Alicante, Torrevieja, Ciudad Quesada, Orihuela Costa, Calpe, Denia, Finestrat, and Benidorm are some of the best places in Spain to purchase an apartment.