Did you know that Malaga is the third most popular investment location in the real estate sector after Madrid and Barcelona? If you didn’t know, these are some of the conclusions of Savills Aguirre Newman in the report “Vision Malaga 2021”.
That is why from Mar Costa del Sol we present you the 5 best areas to invest in Malaga.
LA MALAGUETA
One of the closest neighbourhoods to the historic centre of Malaga. The neighbourhood sits on a triangular piece of land that juts out into the sea, situated between the port’s eastern quay and quay one and La Malagueta beach.
According to a recent study carried out by Fotocasa, La Malagueta is one of the 3 districts of Malaga with the most expensive prices, reaching 4679 euros per square metre.
One of the main reasons for this revaluation can be explained by the large number of points of interest in its area of influence: Muelle uno, Plaza de Toros, Playa de la Malagueta, Museo Pompidou de Málaga or the Gran Hotel Miramar.
To all this must be added other major investment projects that are still to come, such as the Google Cybersecurity Centre, the major remodelling project of the former Trocadero Group Boat House and the adaptation of the Port to be able to accommodate a greater number of pleasure boats.
TEATINOS
Currently, according to data from the consultancy firm Savills Aguirre Newman, “Teatinos is the most important residential area in Malaga city“.
In the words of José Félix Pérez-Peña, director of the Málaga area of this consultancy firm, “it is one of the major development areas in Málaga because in other parts of the city there are not many more, beyond Colinas del Limonar or the area of Carril del Pato and the west coast”. In addition, “it is one of the most prepared districts, with a good urban development, with green areas and parks, the metro very close, schools and the metro”.
It is also worth mentioning the large University Campus that the University of Malaga has in this neighbourhood, with more than 14 university degrees on offer, as well as different buildings dedicated to teaching.
MARBELLA
It is a town and municipality in southern Spain, belonging to the province of Malaga. Located on the shores of the Mediterranean between Malaga and the Strait of Gibraltar. Its municipality covers an area of 117 km2 and has more than 147,000 inhabitants according to INE data in 2020.
Among its many places it has the famous Golden Mile, about 8 kilometres that extend from the centre of Marbella to Puerto Banus, and which probably has many of the most exclusive villas and businesses in Spain, all this added to the magnificent microclimate that this area has.
This cocktail makes Marbella one of the most important centres of foreign investment in luxury homes in Spain. According to a study by Panorama Properties, 90% of luxury homebuyers in Marbella are foreigners; 16% British (despite Brexit), 14% Swedish, followed by 9% Belgian.
BENAHAVIS
Currently, and as reflected in the “Statistics of income tax filers by municipality”, Benahavís is the richest municipality in the province of Málaga, with an average income per inhabitant of 28,443 euros.
This data is in addition to the recent study published by Idealista, from the first quarter of 2022, which places Benahavís as the municipality with the most expensive homes in Spain, followed by Calviá (Mallorca) and Marbella (Málaga).
Among the residential areas in Benahavis, La Zagaleta stands out, the most luxurious real estate complex in Europe, 3,000 million euros on 900 hectares of woodland. “Its more than 230 houses range between five and 25 million euros, and to be able to live there it is essential that the investment must represent 10% of your fortune. Maintaining the residence usually costs around 70,000 euros a year and the community fee is around 5,000 euros a month,” comments Marta Caballero in an article published in 2016 in El Mundo.
OLD TOWN
Alameda de Colón, Plaza de la Merced, Plaza de los Monos, Calle Granada, Calle Carretería, Calle Larios… These are some of the most famous streets in the historic centre of Malaga.
Their location means that there is currently much more supply than demand and that the price rises exponentially year after year. One of the most ambitious operations in this neighbourhood in the last year has been the purchase of property 1 in Calle Marqués de Larios. The building, of 1,200 square metres divided into five floors, will be refurbished with the possibility of housing companies in the retail sector and having an accommodation area, in an operation valued at 16 million euros.
In addition, the historic centre of Malaga has one of the most expensive rental prices in Spain, ranging between 240 and 300 euros per square metre per month.
Don’t you think these are enough reasons to decide to invest in Malaga?
