ASKING prices in one of the Costa del Sol’s previously most affordable expat hotspots have surged by a massive 17.2% over the last year.
The coastal town of Manilva is seeing property values skyrocket as international buyers hunt for bargains away from the more expensive resorts.
According to the latest data from the Idealista portal, the average asking price in the municipality now stands at €2,934 per square metre.
This means sellers are asking for roughly €235,000 for a standard 80-square-metre two-bedroom apartment in the area.
However, it should be noted that the actual prices that an average property in the municipality sells at is €2,381, according to Spain’s Notary’s Statistical Portal.
The annual asking price jump in Manilva is one of the largest on the Malaga coast, driven by heavy demand in popular areas like Puerto de la Duquesa and El Castillo.
However, Marbella continues to dominate the region’s luxury real estate boom with asking prices rising by a further 10.6% year-on-year.
The average in the glitzy resort has reached a record €5,607 per square metre.
It means a typical two-bedroom pad in Marbella now costs an average of €448,000.
Prices are even more eye-watering in Marbella’s exclusive Nagüeles–Golden Mile district, which has hit €6,789 per square metre.
Widespread double-digit increases have been recorded across almost all western Costa del Sol municipalities.
In Torremolinos, prices jumped 14.6% to €3,925 per square metre, pushing the cost of a two-bed property up to around €314,000.
Fuengirola is not far behind, experiencing a 14.1% annual increase to reach €4,407 per square metre, or roughly €352,000 for a two-bedroom apartment.
Meanwhile, Mijas saw property values climb by 13.7% to €3,637 per square metre, making a two-bed home there average out at around €290,000.
Idealista experts say the sustained price hikes are being driven by a combination of strong international demand, tourist appeal, and a severe lack of housing supply in prime locations.
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