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Date Published: 08/10/2024

Malaga house prices are growing at the fastest rate in Spain

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There are 15% fewer second-hand homes for sale on the Costa del Sol than this time last year

Malaga house prices are growing at the fastest rate in Spain

The supply of second-hand homes has suffered a "generalised fall” across Spain this year, according to an analysis carried out in September by Activum Real Estate. Nowhere is this more apparent than Malaga city, where there are 15% fewer houses on the market than in 2023.

Moreover, the supply vs. demand conundrum has pushed prices up by 16.91% during the same 12 month period, which is the highest increase in the entire country.

According to the study, second-hand housing stock in Spain has dropped by 23% between September 2023 and 2024, meaning that today, buyers have 68,274 properties to choose from rather than 89,404.

This trend is visible in towns small and large, but it’s certainly most noticeable in the major cities. In Madrid, for example, the supply of second-hand homes has fallen by 32%, from 20,957 in September 2023 to 14,269 in 2024, “reflecting the high demand and the limited number of new properties available in the capital.”

Likewise in Sevilla, the Andalucían capital, there are only 3,476 second-hand houses on the market, a decline of 31% while in Valencia, supply has fallen by 30%.

Elsewhere in Andalucía, similar falls have been recorded. Cordoba has experienced a reduction of 22%, falling from 6,844 to 5,363 homes, while in Granada the dip is 23%, with the stock going down from 5,700 to 4,370.

According to Activum, the decline in stock has led to widespread price increases in many of these cities.

In Malaga, prices have registered the highest increase in the country, shooting up by 16.91% to a staggering 3,069 euros per square metre.

In contrast, Valencia has seen an increase of 15.78%, with the price per square metre going from 2,301 euros to 2,664 euros.

Barcelona’s prices have risen by 8.98%, reaching 4,505 euros per square metre, while in the Balearic Islands the increase has been 9.29%, with prices now reaching 4,272 euros.

In other news: Malaga-New York route sees record demand as United Airlines considers year-round flights

Image: Zarateman via Wikimedia Commons

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