_480x320.jpg)
Malaga has become one of the most attractive real estate investment destinations, and its historic center is now one of the most rapidly growing areas.
According to the National Statistics Institute (INE), the average annual household income in this area is 37,333 euros.
The old town has one of the highest square meter prices of housing in Malaga. By the end of 2020, it reached 4,000 euros.
The monthly rent of over 11 euros per square meter is also one of the highest in the municipality. In December 2020, however, prices fell by about 12.5% from the previous year due to the healthcare system’s crisis that especially weighed on tourist housing, a report by real estate consultancy CBRE showed.
According to Rosa Madrid, Regional Director at CBRE Andalucía, average property prices continue to rise in the city of Malaga and parts of the Costa del Sol since the start of the pandemic, largely due to high costs of several new properties that will soon appear in the property market.
On the other hand, this area has one of the lowest ratios of green space per individual. Among the closest green areas are Malaga Park, which has great historical value, the Pedro Luîs Alonso Gardens and the Gardens of Puerta Oscura, which represent the city’s natural heritage.