Malaga It has become an ideal destination to live in and is undoubtedly one of the most fantastic cities in Spain. However, Housing continues to be one of the biggest disadvantages. These are the three most expensive areas of the city to buy an apartment, but there is some good news.
Even though Malaga is still one of the most expensive cities in the country, continues to attract the attention of locals and foreigners alike and is considered one of the best in the world. The good news is that prices have started to fall in some areas.
According to the portal IdealisticMalaga is one of the most expensive provinces in Spain with an average price per square meter of 3,146 euros. An increase of more than 19% compared to 2023.
It may seem that if you want to buy an apartment in the Andalusian city everything is bad news, but precisely in the three neighborhoods where the prices are the highest.There has been a slight decline in valuations.
The three most expensive areas to buy an apartment in Malaga
According to the Idealista report, There are three neighborhoods where buying a house is much more expensive. This is completely understandable when you see the location and the services it offers, but it is still exorbitant.
Eastern District: the most expensive neighborhoods in all of Malaga
In the East district, the average price of per square meter is 4,062 euros per square meter. The good news is that, for the first time in a long time, prices have fallen. At the moment, only 1.1%.
This district is traditionally considered the birthplace of the city’s most expensive neighborhoods. For example, Cerrado de Calderón, El Limonar or El Mayorazgo, and some of the great fortunes of Malaga reside there.
Since the 19th century, it has been the home of Malaga’s bourgeoisie and includes spectacular buildings like the Baños del Carmen, the Astilleros Nereo or incredible villas like Sweden or Fernanda.
Central District: Malaga’s old town is becoming more expensive
The center of Malaga is also traditionally a very expensive area and tourists have only made the situation worse. The average price is 3,844 euros per square meter, but in the old town it easily exceeds 5,000 euros.
It is about one of the most spectacular old towns in Spainsince classic buildings mix with old medieval suburbs, modern constructions and even the district has absorbed the port of Malaga.
Teatinos district: a new and expensive neighborhood for the inhabitants of Malaga
The Teatinos district brings together modern and recently created neighborhoodsin addition to many of the city’s university buildings. The price per square meter in 2024 is therefore 3,503 euros.
In general, the neighborhood is more expensive than a year ago, but there are neighborhoods like Campanillas where Apartment purchase prices have started to fall: in this case 1.8%.
Here, the numerous student apartments and rental accommodation make it very difficult to buy an apartment, which is one of the main reasons why housing is so expensive in the area.
