7 Sep, 2023 @ 17:03
1 min read

PRICED OUT: Malaga province sees highest rise in property prices in last year

640px Calle Marqués De Larios Under Cover Of Tents. Málaga, Andalusia, Spain, Southeastern Europe
Calle Marqués De Larios, under cover of tents. (Malaga). Credit: Wikimedia commons.

MALAGA province has recorded the highest rises in house prices in Spain in the last year, according to the real estate portal Pisos.com.

Buying a property in the region is 18% more expensive than it was 12 months ago, with the square metre averaging €2,818. 

The increase in property prices in Malaga is almost three times larger than the national average, which has gone up by 6.8%. 

The Andalucian province is followed by Baleares, where house prices experienced a rise of 16.8% over the last year.

Baleares is also the Spanish province where buying a house is more expensive, as the square metre in the islands averages €4,150. 

It is followed by Madrid (€3,524/m2), Basque Country’s Gipuzcoa (€3,049/m2) and Barcelona (€2,993/m2). 

Regarding Malaga city, properties on the Costa del Sol’s capital have experienced a 17.2% price hike, making it the second city in Spain where flat prices have risen the most in the last year.

Palma de Mallorca ranks first in the list, as flats in Baleares’ main city have seen a yearly increase of 19%. Meanwhile, San Sebastian, in the Basque Country, is the most expensive city in Spain to buy a flat, with the square metre averaging €5,872.

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