Malaga has been chosen as the 5th city to buy a second home in Malaga. As we all know, Malaga is in fashion, its economic, cultural and expansive growth makes it a favourable environment for investment in housing.
Why has it been one of the best cities for buying a second home? We leave you in this article the keys to your choice.
Why choose malaga to buy a house?
Choosing Malaga as a location to buy a house offers a multitude of advantages:
Malaga has a 17% foreign population.
INE data from the 1st of July 2023 states that 322,278 foreigners live in the province. This means that there is a support network for expatriates in the province, where they can help each other and, in addition, as there are so many foreigners, almost everyone speaks English.
There are towns like Mijas or Calahonda, which have a 40% foreign population, so you will never feel displaced if your problem is culture.
Exceptional Climate and Lifestyle
Malaga enjoys over 300 days of sunshine per year, offering a desirable Mediterranean climate.
The average annual temperature in the province is 23 °C during the day, one of the warmest in Europe, and 13 °C at night. In January, which is the coldest month, the temperature ranges from 12 to 20 °C during the day.
Malaga City has beautiful beaches, a rich cultural heritage, and a wide range of leisure activities, providing an excellent quality of life.
Strong Rental Market
De bloeiende toeristische sector van Málaga trekt jaarlijks veel bezoekers, waardoor er een grote vraag is naar zowel kortetermijnverhuur als verhuur voor de middellange en lange termijn.
De city’s climate allows for an extended rental season beyond the typical summer months.
Investeren in appartementen of villa’s op toplocaties in Málaga kan een stabiele stroom aan huurinkomsten opleveren, vooral tijdens piekperiodes zoals feestdagen en festivals.
Convenient Location and Infrastructure
Malaga is well-connected, with an international airport just 12 minutes from the city center and excellent transportation links.
The city has seen significant investment in its infrastructure and development, enhancing its appeal to both residents and tourists.
Is buying property in Malaga a good investment?
Investing in property in Malaga is an excellent option for several reasons:
- Property demand: The province is a popular tourist destination, which generates a high demand for rental properties, ensuring a positive annual return and quick return on investment.
- Resale business: In addition to rental, property sales is a strong market due to Malaga’s economic diversification and the constant demand for properties for sale.
- Stable economy: Malaga has a growing economy with little seasonality, which favours commercial and entertainment activity throughout the year.
- Quality of life: The province offers excellent public services, a good quality of life and efficient transport links, which attracts both residents and tourists.
- Variety of choice: There is a wide range of real estate in Malaga, from luxurious to more affordable, to suit different budgets.
In summary, buying a property in Malaga is an attractive investment due to its economic growth, high tourist demand, constant price appreciation and variety of real estate options available.
What are the reasons that make Malaga the fifth favourite city in the world for second home buyers?
Malaga is considered the fifth favorite city in the world for second home buyers due to several factors.
“Malaga is a city known for its museums and galleries, it is perfect for art lovers and is home to beautiful beaches, making it a great getaway for owners and tourists,” GetAgent pointed out.
Malaga offers a desirable lifestyle with its Mediterranean climate, beautiful beaches, and cultural attractions, making it an appealing location for second home investments. Furthermore, the city’s strategic position as a leading constructor of new flats contributes to the availability of modern housing options.
These factors collectively position Malaga as a sought-after destination for individuals looking to invest in a second home.
What is the ranking of the world’s favourite cities for second home buyers?
De world’s favorite cities for second home buyers are:
1. Gold Coast, Australia (49,200 property searches)
2. Melbourne, Australia (44,900 searches)
3. York, United Kingdom (33,800 searches)
4. Cape Town, South Africa (32,900 searches)
5. Malaga, Spain (26,200 searches)
Have you visited Malaga? Are you thinking of buying a property? Get in touch with us.
MALAGA SOLICITORS GROUP
Tel. 952 901 225 - mail@malagasolicitors.com
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Auteur: Clara Cuevas Rodríguez
Marketingafdeling – Advocatenkantoor Malaga
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Talen: Spaans en Engels.
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