SOME of Malaga’s neighbourhoods now rank among the most expensive places to buy a home in Spain, new data shows.
Figures from property portal Pisos.com revealed that luxury homes in La Termica–Sacaba Beach fetched prices of more than €10,000 per square metre in November, with 100-square-metre properties exceeding the one-million-euro mark.
Close behind are La Malagueta–Monte Sancha, at nearly €9,200 per square metre, and Bellavista–El Morlaco, at more than €8,500.
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The figures come as surging purchase and rental costs, a shortage of buildable land, and limited social housing continue to fuel a property crisis that has gripped Spain for more than two years, pricing young people and vulnerable groups out of the market.
Despite setting local records, La Termica–Sacaba Beach places only twelfth in Pisos.com’s national ranking.
Madrid dominates the top three, led by Recoletos at nearly €15,500 per square metre, followed by Castellana (€13,100) and Jeronimos (almost €13,000).
Palma’s Sant Nicolau comes next at €11,800 per square metre, ahead of Madrid districts Lista, Goya, Justicia–Chueca, Almagro, and Ibiza.
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Rounding out the top ten is Diagonal Mar–El Front Marítim del Poblenou in Barcelona, at €10,477 per square metre.
The Pisos.com study also highlighted striking disparities within city markets.
Malaga exhibited one of the most pronounced gaps between its overall average price per square metre – €4,664 – and its top-priced neighbourhood, an increase of approximately 115%.
While similar patterns exist elsewhere, the contrast is less pronounced in other major cities.
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In Madrid, the average price of €7,303 per square metre rises by about 112% in Recoletos, Spain’s most expensive neighbourhood.
Palma follows with an average of €6,012 compared with nearly €11,850 in Sant Nicolau, a difference of about 97%.
Barcelona shows a smaller, though still significant, disparity: its citywide average of €5,512 increases to €10,477 in Diagonal Mar–El Front Maritim del Poblenou, a gap of around 90%.
Rising purchase and rental costs across Spain have fuelled what many now describe as a full-blown housing crisis.
Prices in major cities and coastal hotspots have surged far faster than wages, driven by relentless demand, a shortage of new homes, and years of underbuilding, experts say.
For many households, buying a home has become an increasingly distant prospect, while rents swallow ever larger chunks of monthly income.
The fallout is being felt most sharply by young people and low-income families, particularly in high-pressure markets such as Malaga, Madrid and Barcelona, where a lack of long-term rental homes is forcing residents to the outskirts – or out of the market altogether.
In response, the government has rolled out measures such as the Casa47 social housing programme, designed to speed up the construction of affordable rental homes on public land.
Aimed mainly at younger residents and vulnerable groups, the scheme is intended to take some heat out of the market – though critics say it is moving too slowly to make a meaningful dent in the crisis.
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