High-end Foreign Buyers are Flocking to Málaga

27th July 2023
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High-end foreign buyers are flocking to Málaga to take advantage of the city’s growing luxurious real estate market. Málaga has continued to become more attractive to international buyers which has led to some steady property production. In the city’s most desirable areas, property values have risen more than 12% annually. This figure serves as proof of the growing popularity in Málaga, with the region now accounting for 34% of Spain’s top end real estate of homes valued at €3 million and above. 

Even with the price tags growing in some places, buyers are still keeping their eyes on Málaga. Between the clear economic growth, infrastructure and rich culture, the area is suited to second home buyers, investors and families who are looking for a new home.  

Buyers from outside of Spain make up more than 80% of total sales, these buyers are mainly from across the United Kingdom and the Netherlands. There are also buyers from other EU countries such as Italy, Poland, Ireland, and Switzerland. Of these, almost half buy second properties, while around 30% are looking for their new homes to live in permanently and 24% are looking for investment opportunities.  

Typically, buyers tend to gravitate towards villas that have their own private pool and garden areas in places such as Limonar and Pedregalejo. Of course, La Malagueta’s beachfront apartments are also well sought after, as are properties in the city centre. Other areas of interest include Málaga Este, the east of the city is a laid-back area offering stunning beaches, and the Historical Centre which is the perfect mixture of tradition and modern life.  

Ongoing projects such as the San Andrés Marina is helping to bring high-end boaters into the area which has aided in boosting the local economy. The development of Málaga’s tech parks has also helped with this growth and prosperity. 

Málaga has a lot to offer its visitors and inhabitants from easy travel options and safety to diverse cuisine and the Mediterranean climate. 

To summarise, the improvements in Málaga are now paying off. The local economy and culture have thrived. Which has in turn made the destination prosperous in the real estate world.

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