Malaga sets record in housing prices surpassing the real estate bubble of 2007

The real estate market in Malaga is breaking records, with sales and rental prices reaching historic levels. The increase in demand for buying has led to a "buy now or never" moment, while rental prices have risen over 30% year on year.

Malaga, a city in southern Spain, has once again broken records in housing prices, surpassing even the highest prices recorded during the 2007 real estate bubble. According to the Fotocasa Real Estate Index, housing in Málaga capital reached a maximum selling price of €2,932/m² in February 2023, representing an 18.2% annual increase. In addition, the highest rental price in the city was recorded in January 2023, with a value of €13.52/m². This increase in housing prices coincides with the ECB's change in monetary policy and rising interest rates, which has caused the demand for buying to resurge and society to be experiencing a "buy now or never" moment. As for the rental market, the increase has been even more significant, exceeding 30% year-on-year in January 2023, which represents the highest increase in the history of the Fotocasa Real Estate Index. In conclusion, housing prices in Málaga are at record levels, making access to housing more difficult, especially in the rental market, as prices have increased by 57% in the last 16 years.