In November 2025, Málaga’s resale housing market delivered a surprise: for the first time in a long while, the average price per square meter decreased. The new price stands at €3,618, down 0.9% from the previous month. However, despite this slight dip, buying an apartment in the city remains 12.5% more expensive than in November of the previous year. Over the last three months, prices have increased by 1.9%, with a historic peak recorded in October when the price reached €3,652 per square meter.
This market trend is raising questions among potential buyers and investors. On the one hand, the figures indicate a certain cooling after a prolonged price surge. On the other hand, even this minor decrease does not offset the sharp price jump seen over the past year. Málaga remains one of the most expensive cities to buy property in Spain.
Comparison with Spain
Looking at nationwide data, it becomes clear that Málaga is moving against the broader trend. While prices in the city have dipped slightly, the average cost of housing across Spain rose by 2% in November, reaching €2,605 per square meter. On an annual basis, prices across the country grew by 16.1%—even more than in Málaga. So, despite the local drop, Málaga still leads the national average in absolute housing costs.
Experts note that this disparity is due to the city’s strong appeal to foreigners and internal migrants. Demand for housing consistently exceeds supply, especially in prestigious neighborhoods. This keeps prices high, even if occasional minor corrections occur in some months.
Leading and lagging districts
Within Málaga itself, price variation by neighborhood is striking. The most expensive remains Este, with prices at €4,737 per square meter. Over the past year, this area saw a 13.9% increase. The city center (Centro) is close behind at €4,118 per square meter, up 7.1% from last year. Martiricos – La Roca surprised everyone as prices soared by 246.2%, reaching €3,711 per square meter. In Teatinos, housing is priced at €3,675, which is 4% higher than a year ago.
The most affordable neighborhoods continue to be Ciudad Jardín — €2,488 per square meter, yet even here prices jumped 21.1% over the year. In Churriana, the price is €2,836 (+18.2%), in Cruz de Humilladero — €3,141 (+13.5%), and in Bailén – Miraflores — €3,154 (+28%). Even in the cheapest areas, housing prices keep rising, reflecting a highly active market.
Trends and key factors
The drop in average price in November was the first after several months of continuous growth. The Este district remains the most prestigious location, while Bailén – Miraflores and Ciudad Jardín stand out for their sharp year-on-year price increases. Particularly notable is the surge in Martiricos – La Roca, where prices have nearly tripled in just one year. Overall, Málaga’s market continues to be one of the most dynamic and expensive in the country, despite some local fluctuations.
Buyers looking to purchase property in Málaga face a tough decision: wait for further price drops or act now before prices begin to rise again. Analysts recommend closely monitoring the situation, as even small changes can impact the overall market outlook.
What’s next?
Experts do not expect significant changes in the coming months. Demand for housing in Málaga remains high, particularly among foreigners and investors. However, local adjustments are possible if the country’s economic situation shifts. For now, the city continues to hold its position as one of the most expensive and sought-after real estate markets in Spain.
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