Málaga frequently appears in various online studies and surveys and is often celebrated as one of the best cities to live in in the world. While such claims may seem exaggerated, there is no denying that the city boasts an enviable climate, enjoying approximately 300 sunny days a year. It is equally renowned for its rich cultural heritage, exceptional leisure and food offerings, and a comprehensive range of services.
These and other factors have contributed to the city’s growth, both residentially and commercially. Málaga now boasts a thriving real estate market, attracts companies that are relocating or establishing their headquarters there, and sees the development of numerous new residential and commercial developments.
As a result, property prices in the city have risen significantly. According to the latest idealista report, as of November 2024, the cost of housing in Málaga city centre reached an all-time high of €3,215 per square metre. This represents a 21.7% increase compared to the same month in 2023 and a 1.7% rise over the prices recorded in October 2024.
There is no doubt about the continued growth of the capital of the Costa del Sol. While the overall trend shows a general increase in property prices on an annual basis across the city – excluding just one area – certain neighbourhoods have seen more significant rises. These are the areas in Málaga where housing prices have experienced the steepest growth over the past year.
The biggest house price increases
Cruz de Humilladero
This neighbourhood has experienced the highest growth in property prices, with a year-on-year increase of 23.5%. In October 2024, the average value per square metre reached a historic peak of €2,726. The quarterly change stood at 7.3%, while the monthly variation was 1.1%.
- Properties for sale in Cruz de Humilladero
- Rental properties in Cruz de Humilladero
- New builds in Cruz de Humilladero
Teatinos
The second area in Málaga where property values have risen significantly is Teatinos, a modern neighbourhood highly appealing to both families and students. It has seen a year-on-year increase of 23.2%, reaching an average price of €3,503 per square metre – the highest recorded in its historical series. The district also experienced a quarterly growth of 6.2% and a monthly increase of 3.3%.
Puerto de la Torre
Puerto de la Torre completes the top three areas with the most notable year-on-year property price hikes. Over the past year, the district saw a 17.7% rise in the price of properties for sale, reaching a historical peak of €2,544 per square metre. In the last quarter, prices grew by 4.9%, while the monthly variation saw an increase of 1.7%.
- Properties for sale in Puerto de la Torre
- Rental properties in Puerto de la Torre
- New builds in Puerto de la Torre
Ciudad Jardín
Ciudad Jardín just missed out on the top three, with property prices rising by 17.3% year-on-year to reach €2,055 per square metre in October 2024, marking another historical peak. Every quarter, prices increased by 6.2%, while the monthly variation saw a notable rise of 4.5%.
The areas of Málaga where prices have barely increased
Martiricos - La Roca
This Málaga neighbourhood has not only failed to see year-on-year increases in property prices but has actually experienced a significant decline. In October 2024, the average price stood at €1,051 per square metre – 0.3% higher than the previous quarter but a substantial 20.7% lower compared to the same month in 2023. Nevertheless, the neighbourhood saw a monthly increase of 5.4%.
- Properties for sale in Martiricos - La Roca
- Rental properties in Martiricos - La Roca
- New builds in Martiricos - La Roca
Campanillas
This Málaga neighbourhood has seen a positive year-on-year increase of 5.9%, with property prices reaching €2,071 per square metre in October 2024 – 2.8% below the historical peak of €2,130 recorded in July 2024. However, in recent months, the value of homes for sale in the area has shown a downward trend, with a 2.8% decrease over the past three months and a 1.8% drop in the last month.
Centro
The Centro neighbourhood rounds off the top four areas with the least significant year-on-year increases, recording a notable 9% rise in property prices. In October 2024, the average price reached a historical peak of €3,844 per square metre. This represents a 2.3% increase over the past three months and a 1.3% rise compared to the previous month.
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