The attractiveness of Malaga for tourists lies in its combination of a well-developed infrastructure, rich cultural heritage and beach recreation opportunities. This city, one of the most popular resorts in Andalusia, is of no less interest to real estate buyers. Some consider the purchase of housing here as an excellent investment, while others want to buy property in Malaga primarily for personal residence. It is also very promising for renting: the flow of tourists does not stop almost all year round, so the profitability of housing is at least 5-6% per annum.
Real estate options
Those who are looking to buy a property for renting in Malaga most often prefer studios and 1-2-room apartments. Apartments, 3-4-room flats and penthouses are offered for personal residence. The most in demand among other options are the following:
- family houses;
How to choose a home in Malaga
The most expensive and prestigious part of the city is its historical center, but you should not look for modern townhouses and condominiums there. The purchase of an apartment in the central part of the city is recommended for those wishing to settle in a restored historic building, or for those who plan to rent out property in Malaga to tourists. If you want to live near the beach and look out at the sea from your windows, you should buy an apartment or a villa in the eastern part of the city. The western regions are the kingdom of new buildings: it is here that the most inexpensive real estate in Malaga is located, available to a wide range of buyers, although there are many elite residential complexes with swimming pools, closed areas and underground parking.
Property prices in Malaga, Spain
The range of prices for apartments is quite large: whereas in the historical district of La Cala the cheapest 1-room apartment costs 160 thousand euros, on the western outskirts of the city it will cost half the price. Apartments in an elite condominium cost at least 500 thousand euros, and, if located on the seashore, their price can reach 1-1.3 million euros. Villas go at an even higher price: its minimum cost is 500 thousand euros, while the average price ranges from 1.5 to 2 million euros, and the upper bar reaches 6-7 million. Against this background, townhouses seem inexpensive: it is quite possible to buy an apartment in them for around 165-280 thousand euros.