Just a few of many reasons to invest in Malaga real estate …
The Costa del Sol is one of the most popular regions in Spain for holidaymakers and expats alike. The stunning beaches, chic marinas, wall-to-wall sunshine and luscious golf courses are major attractions. It provides an idyllic lifestyle for so many different personalities.
However, its popularity is also reflected in its property prices which can be higher than other Spanish coastal hot spots. But, if you plan carefully, you can make very wise investments.
It goes without saying that the best places to invest are in the popular beach resorts. Although prices are higher than inland, the coastal towns offer great rental opportunities, both long and short term, and your property will be easier to sell than the more remote inland homes.
Each resort has its own character, so you will need to decide which is right for you.
Getting to know Malaga
The most famous resort on the Costa del Sol is Marbella, playground to the stars, with beautiful beaches and chic marinas including Puerto Banus with superyachts and Hollywood style venues.
You pay more for property in Marbella but you can charge more in rent too. Prime locations command prime prices, for both rental and purchase. According to Kyero.com, the average price of a property in Marbella is €577,000 and a two-bed property is €286,000.
Marbella has been a fashionable resort for many years and continues to be a haven for celebrities and elite holidaymakers. Home to several International Schools, Marbella is a popular choice for International families relocating. Another reason for the high demand for quality long-term rental properties.
West of Marbella is another are the popular resorts, of San Pedro and Estepona. Estepona is former fishing village has beautiful beaches and a charming, traditional Andalusian old town.
Your money goes further in Estepona with an average property price of €336,000 with a two-bed coming in at €232,000.
A firm favourite with British holidaymakers is Fuengirola. This would be ideal for investing in holiday rentals. It’s perfect for family holidays and ideally situated between Malaga and Marbella with lovely beaches, attractions, great transport links and a historic castle.
The average Fuengirola property costs €205,000 which is lower than the average in Spain (€224,000). You will be able to achieve a good rental income especially at Easter and during the summer months. Long-term rentals are always in demand in this area.
Another excellent place to invest, just away from the hustle and bustle of the coast, is in the pretty ‘white village’ of Mijas. It’s a traditional Andalusian village, that maintains its original character and is very cosmopolitan and popular with British expats and holidaymakers. Property prices reflect its popularity with an average home fetching €261,000 although you can buy a two-bed property for an average of €156,000. Both holiday rentals and long term rentals are highly sought after in this area.
Heading towards Malaga is the bustling top tourist resort of Benalmadena, home to the largest Buddhist Stupa monument in the Western world, at an impressive 33 metres tall. This resort also boasts beautiful beaches, great nightlife, the Tivoli World theme park and the largest Butterfly Park in Europe so it’s another popular choice for families. Benalmadena also boasts several highly rated International Schools and so is a popular location for families relocating to the Costa del Sol.
Property prices are very attractive considering Benalmadena is a favourite holiday destination with an average price of €233,000 and a two-bed property at around €173,000.
Families also flock to neighbouring Torremolinos as there is so much for the children to do. There’s Aqualand water park and a fascinating crocodile park as well as dolphin watching, and plenty of beaches as well as the charming La Carihuela fisherman’s quarter.
Considering it is a top resort, Torremolinos property prices are lower than the Spanish average. The average Torremolinos property is €186,000 with a two-bed at €172,000.
Last but not least is the superb, up-and-coming beach city of Malaga, birthplace of Spain’s favourite artist Pablo Picasso. The city is enjoying a revival with its port expansion turning it into a top stopover for cruise ships. It attracts millions of tourists all year to enjoy the beaches, golf courses, historic old town or to take part in one of Malaga’s fascinating fiestas especially the Andalusian Fair with flamenco dancing. You can also cheer on Malaga’s football team which is in La Liga.
Property prices reflect its popularity with an average price of €320,000 and a two-bed costing €192,000. Prices in the historic centre of Malaga are a bit lower with an average of €259,000.
Investing in property in Malaga city is a sound move as it is becoming more popular and attracts visitors throughout the year. The airport is only 15 minutes from the city, and train links provide easy transport options to other locations on the Costa del Sol and other parts of Spain. Malaga Capital is also an ideal destination for a weekend break.
Why invest in Malaga real estate?
Prices dropped by about 40 to 45% when the Spanish property bubble burst in 2008. All the signs indicate that the market has bottomed out and, in some places, prices are slowly rising.
It is mainly foreign investors putting their money into real estate but the Spanish also feel that it is wiser – or safer – to invest in bricks and mortar than in a bank’s savings account where interest rates are a pittance.
Malaga has great transport links so getting to your resort and exploring once you are there is no problem. There are two international airports in the area, Gibraltar and Malaga, each served by low-cost airlines and transcontinental flights.
The road network is excellent with the major AP7 road running along the southern coast to link Malaga with resorts such as Marbella, Estepona and Almeria as well as good roads heading inland to destinations like Granada, Cordoba and Sevilla.
The trains are also very comfortable and relatively cheap with railway links between Malaga and the airport as well as the neighbouring beach resorts of Fuengirola, Torremolinos and Benalmadena. You can also get the fast trains to top Spanish cities including Madrid, Sevilla and Cordoba.
All in all, Malaga is a pretty amazing place to be, whether it is for a short trip or all year round. If you would like to know more, simply Get in touch.