THE price of housing went up a stunning 7.2% in the city of Malaga in 2023 to more than €3,000 per square metre, one of the steepest rises in Spain, a study has found.

The attractive city on the Mediterranean coast followed a national trend which saw prices of homes rise by 5.1% throughout the year just gone by.

The regions of Catalunya and Madrid continue to be the most expensive on the whole, oscilliating around the €4,500/m2 mark.

Barcelona recorded the highest average price per metre squared across Spain.

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Image by quentin jouvray from Pixabay

Property buyers in the fashionable Catalan capital can expect to shell out over €5,000/m2 for a home, followed by Madrid and San Sebastian.

Andalucia is still somewhere in the regional mid-table, with the average price of a home coming to just over €2,000/m2.

The cheapest places to buy a home are Ciudad Real, Caceres and Badajoz where prices per metre are all just above €1,300.

This study took place between September and December 2023 taking into account over 36,000 homes across the country.

The rises in home prices come as interest rates rise, property purchases drop and less mortgages are awarded nationally.

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