Area Guide to Málaga – The growing capital of Costa del Sol
Málaga has a lot to offer with its charming city centre, beaches within walking distance, a big modern harbour, plenty of transport options and reasonable prices. Therefore, many expats, tourists, and real estate investors have their eyes on Málaga.
It is no wonder that Málaga is known as the capital of Costa del Sol.
The areas and neighbourhoods in Málaga
Málaga is the capital of the Málaga Province, located in Andalusia’s autonomous region. It covers an area of 398 km2 and is Spain’s sixth most populous city, with a population of 578,460 inhabitants.
Málaga Province includes the following areas:
To get to Málaga and the beautiful Costa del Sol, many people fly to Málaga Airport, which is the fourth largest airport in Spain, with 146 destinations and 49 airlines. Alternatively, you can fly directly to and from Gibraltar, which is one hour and 45 minutes from Málaga centre.
Below, you can see the charming city of Málaga when Jacob, Tristan and Tristan’s wife, Leonne, visit a reformed apartment of 125 m2 bought for rental purposes in Málaga.
If you are looking to buy or rent a property in Málaga city, you should know that the following neighbourhoods are some of the most popular.
Popular neighbourhoods in Málaga city:
- The old town (Centro Historico): Here, you will find Málaga’s signature monuments, churches, plazas, museums, restaurants, bars and the famous shopping street Calle Larios.
- La Merced: This is probably Málaga’s trendiest area, located next to the old town. La Merced is an international neighbourhood with a big square full of bars and restaurants, and as it used to be Pablo Picasso’s home, there is a statue of him right in the middle.
- Soho: This is a neighbourhood popular among many younger people. You will find skateparks, urban art, and several bars and restaurants here. Soho is located between the port and Alameda Principal, 15 minutes from the city centre.
- La Malagueta: Maybe this neighbourhood sounds familiar to you? It is the well-known beachside district in Málaga. You will be close to the beach, the city centre, the port, Center Pompidou, Plaza de Toros, shopping centres, and seafood restaurants.
Check out properties for sale in Málaga city…
Why is Málaga an excellent place to have a property?
Málaga is interesting from a real estate perspective – especially if you want to buy a property to rent out in Málaga centre!
Why? Because tourists from all over the world visit Málaga every year, which makes tourism one of the most important business sectors.
Some visitors are drawn to the warm subtropical-Mediterranean weather, the beautiful beaches, and the many shops and shopping centres with clothes from Spanish brands such as Zara, Mango, and Massimo Dutti. Others travel to Málaga to experience the old historical centre’s culture and history or to visit the uniquely-designed harbour Muelle Uno, or simply to have delicious tapas and drinks for a very good price.
According to statistics, Málaga had 873,932 international tourists in 2019, whereas Marbella had 553,379 tourists in comparison.
Málaga is developing rapidly. The economy is growing faster than both Andalusia and Spain, thanks to its strong tourist sector and real estate market. Málaga’s GNP is expected to increase by 8,6 % in 2022, which is above the national average of 6,7 %.
The infrastructure is improving with the train going every day every 20 minutes from Málaga to Fuengirola, endless busses, and a high-speed railway network. In addition, it has just been announced that short and medium-distance trains with multi-trip tickets will be free in the autumn of 2022.
Increasing property demand and sales in Málaga
2021 was an impressive year for Costa del Sol real estate market. According to Idealista, 20 % of all properties were sold within just one week! The demand was so high that more than half of all the registered properties for sale had a new owner within three months.
The numbers are continuing to grow in 2022. There were no less than 10,884 property sales in Málaga province in the first quarter of 2022, indicating that the property market exceeded the level from before the pandemic began.
The number of purchases of resale properties increased by 62.4 % in the year, while purchases of new-build properties in Málaga increased by 39.8 %. With 2.603 sales of newly built properties, Málaga came in on a third place in all of Spain. Furthermore, Málaga was the province with the fourth-highest property sales in January, February, and March 2022.
The average property price in Málaga was 2,185 euros per square metre in the first quarter of 2022, based on a report from Estadística Registral Inmobiliaria.
Please feel free to contact us for any further questions about what, where, and how to purchase or rent a property in Málaga.