MALAGA has overtaken Madrid as Spain’s second most expensive province for renters, with only the Balearic Islands recording higher rents.
The average monthly rent in Malaga has reached €1,232 euros after skyrocketing 12.7% over the past year.
Only the Balearic Islands, where average rental prices sit at €1,602, now surpass the province of Malaga, according to data from ARRENTA SABSEG.
The surge in Malaga’s rental prices comes as rental prices have fallen by 1.1% across Andalucia as a whole, where the average monthly rent now stands at €922.
Malaga therefore bucks the regional trend, with rental prices far outstripping those in provinces such as Jaen, where average rents stand at €494 a month, and Huelva, where tenants pay an average of €581.
The province is also moving against the national trend, with rental prices decreasing across much of Spain.
The steepest price drops have been reported in medium-sized cities across Spain, although Valencia, Spain’s third-largest city, has also recorded a decline of 1.33% over the past year.
Leading the declines is Valladolid, where prices have fallen 12% year-on-year, followed by Santa Cruz de Tenerife (7%), Zamora and Almeria (5.9%).
With these latest figures, analysts suggest Spain’s property market may be cooling, with signs that it could have reached its peak.
Analysts at Oxford Economics have forecast that growth in Spain’s property market will slow to 5% in 2027, following an expected growth of 11% in 2026.
Prices in Malaga, driven by ever-increasing demand, continue to surge even as rental markets at both the regional and national levels begin to slow.
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