Malaga is a city that is generally considered relatively affordable compared to other cities in Spain, especially larger ones like Madrid or Barcelona. However, the cost of living can vary depending on the area you decide to live in. Some areas may be more expensive due to their proximity to the beach or historic center, while others may offer cheaper options.
For Living:
- Cost of Housing: Rental and purchase prices have been on the rise in recent years, especially in areas popular with tourists and expats.
- Daily Expenses: Prices for food, transportation, and leisure are moderate compared to other large cities.
For Investing:
- Real Estate Market: Malaga has seen growth in real estate investment, especially in the tourism sector, which can be attractive to those looking for vacation rentals.
- Development: The city has seen significant development in infrastructure and services, which can indicate good long-term investment potential.
Setting up a business:
- Tourism: Malaga is a popular tourist destination, which can be favorable for businesses related to hospitality, catering and tourist services.
- Operating costs: Costs can be lower than in larger cities, but it is important to research the specific market and demand before making decisions.
In summary, Malaga can be a good option both to live in and to invest or set up a business, depending on your goals and the sector you are interested in. It is advisable to carry out a specific market study and consider factors such as demand, competition and the cost of living in the areas that interest you.
Rent:
- One-bedroom apartment: Prices in the center of Malaga ranged from 700 to 1,200 euros per month, while in more distant neighborhoods they could be between 500 and 800 euros.
- Two-bedroom apartment: In the centre, prices can vary between 1,000 and 1,500 euros per month, and in more peripheral areas between 700 and 1,200 euros.
- Three-bedroom apartment: In the centre, rents are usually between 1,300 and 2,000 euros, while in other areas they could be between 900 and 1,500 euros.
Purchase:
- One-bedroom apartment: Purchase prices in the centre of Malaga could be between 150,000 and 250,000 euros, while in less central areas they could vary between 100,000 and 180,000 euros.
- Two-bedroom apartment: In the centre, purchase prices range from 250,000 to 400,000 euros, and in more remote areas between 180,000 and 300,000 euros.
- Three-bedroom apartment: In the centre, purchase prices are usually between 400,000 and 600,000 euros, while in other areas they can vary between 300,000 and 500,000 euros.
Factors to consider:
- Location: The most sought-after areas, such as the centre, La Malagueta or Soho, usually have higher prices.
- Property condition: Recently renovated apartments or apartments in new developments may have higher prices.
- Market demand: The situation of the real estate market can fluctuate, affecting both purchase and rental prices.
I would recommend checking updated property portals or contacting local real estate agents for more accurate and up-to-date information on prices in Malaga.