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Luxury Real Estate Market in Málaga: A Unique Opportunity to Live in Paradise
Málaga and the Costa del Sol have established themselves as one of the most attractive destinations in Spain for those seeking luxury housing. With a constantly growing demand, rising prices, and a preference for cash payment, the luxury real estate market in this region offers a unique opportunity for those who want to live in a paradise-like environment.
We recommend that you read our article on: Find the perfect real estate agent in Marbella to buy your house in Malaga
Foreign demand leads the market
One of the highlights of the luxury real estate market in Málaga is the strong foreign demand driving it. In Málaga capital, 60% of luxury property purchases are made by foreign buyers. In several points along the Costa del Sol, such as Benalmádena, Fuengirola, Torremolinos, Mijas, and Estepona, this figure rises to 70-80%, and in Marbella, it surpasses 90%. The region’s natural beauty, Mediterranean climate, and quality of life attract investors from different nationalities, such as Germans, Saudis, Belgians, Swedes, Norwegians, Danes, Swiss, Dutch, and Russians.
Stability of the luxury market
While the real estate market, in general, can be affected by economic and political changes, the luxury segment in Málaga remains relatively stable. Unlike lower-value properties, luxury properties are often purchased without resorting to bank financing. Around 75% of luxury home transactions on the Malaga coast are made without a mortgage, indicating that buyers have the financial capability to pay in cash. This provides greater stability to the luxury market as it operates under independent rules and is not as subject to economic fluctuations.
Buyers' preferences
Regarding the preferences of luxury home buyers in Málaga, large villas with gardens and pools are highly sought after. Apartments and penthouses with good views and terraces are also in demand. In the capital, the most sought-after properties are houses between 250 and 350 square meters with a pool and garden in areas like Cerrado de Calderón, Candado, El Palo, and Pinares de San Antón. In Pedregalejo, El Limonar-Parque Clavero, the Center, and the Soho, apartments ranging from 120 to 180 square meters with a terrace and common areas are sought. In La Malagueta, penthouses with three bedrooms and 150 square meters are the most requested.
Prices and prominent locations
The prices of luxury properties vary according to the location in Málaga. In La Malagueta, the average price per square meter is €4,300, while in Pinares, El Candado, or El Palo, the price is €2,850. However, the highest price peaks are reached in the western area, with a value of €10,000 per square meter. In this area, average values have increased by 6.7% to reach €3,200. This increase has been influenced by the development of high-end projects on the Poniente promenade.
The Costa del Sol, particularly Málaga and Marbella, continue to be reference destinations for those seeking luxury properties in Spain. Prominent locations such as La Malagueta, the Golden Mile, Estepona, Mijas, and the exclusive developments in Marbella offer a wide range of options for international buyers.
Prices vary according to the location, with the Golden Mile in Marbella leading in terms of higher average prices. Additionally, there is consistent growth in areas like Estepona and Mijas, indicating the appeal and sustained demand for luxury properties on the Costa del Sol.
With its exceptional climate, beautiful beaches, world-class golf courses, and a wide range of luxury services and entertainment, the Costa del Sol continues to be a privileged place for those seeking to live or invest in luxury properties in Spain.
