750 New construction promotions in Malaga Province

Market Dynamics of New Construction in Málaga Province

Málaga is positioned as a neural center in the new construction sector, not only within Andalusia but also at the national level, occupying third place after Madrid and Barcelona with more than 8% of the national demand for new housing, according to the College of Surveyors of Málaga. With more than 750 active developments, the province stands out for concentrating a high number of projects in Benalmádena, Estepona, Marbella, and Mijas. At the end of 2020, Málaga was categorized as the most expensive province in Andalusia, with an average price per square meter exceeding €1,900/m², reports Gesvalt.

Prices of New Construction in Costa del Sol

On the coast, the most accessible square meter can be found in Vélez Málaga, with an average of just over €1,250/m². Followed by Rincón de la Victoria and Torre del Mar, where prices hover around €1,800/m². Torremolinos and Manilva present slightly higher costs, exceeding €2,000/m². The most exclusive locations, such as Marbella, Fuengirola, and Benalmádena, can reach prices of up to €5,400/m², with Benahavís following with more than €3,200/m².

In Malaga province, the price of cheap new construction starts at 8 268 € because these properties do not enjoy exclusive views or amenities, while the average price is 930 040 € per new construction home, whereas the average price of a second-hand property is 930 040 €, new homes and luxury homes can cost 11 500 000 €. These properties are expensive for their better views, quality, more m², or their location and exclusivity.

Volume of Developments in Malaga

In Málaga province, there are currently new constructions in 2024 that are for sale among projects on plan, under construction, and completed new construction in Malaga, we find 750 developments. The distribution of new construction developments shows a significant concentration in several key locations, with Estepona leading with 83 projects (17.6% of the provincial total), closely followed by the capital, with 80 (17%) New construction in Malaga city. Marbella also stands out with 58 developments, representing 12.3% of the total. New construction in Mijas with 53 projects (11.2%), and Fuengirola with 32 (6.8%), complement the main development destinations.

Beyond these areas, Benahavís with 21 (4.4%), Benalmádena and Torremolinos, each with 20 projects (4.2% each), along with Casares and Rincón de la Victoria with 15 (3.2%) and 14 (3%) respectively, show notable dynamism. Alhaurín de la Torre also has 14 developments, equivalent to 3% of the total.

The distribution continues with Manilva having 12 developments (2.5%), Torre del Mar and Las Lagunas de Mijas each with 9 (1.9% each), and Torrox with 7 (1.5%). Smaller locations like Nerja, Chilches, and Algarrobo-Costa show a more reduced number of projects, each contributing with 5, 4, and 3 developments respectively, highlighting the diversity and scope of new construction development throughout the province of Málaga.

Factors Affecting Housing Prices in Málaga

The value of new construction in Málaga province is influenced by supply and demand, along with location, size, quality of materials, and proximity to key services. Additional factors include population density, the economic state of the locality, foreign investment, and tourism, which play a crucial role in the final price. The developer's reputation also influences the price as well as marketing expenses and sales office commissions to agents, etc.

Advantages of Buying New Construction in Malaga

Opting for a new construction home in Málaga offers numerous advantages over second-hand properties, including customization options, construction guarantees, energy efficiency, and access to modern services such as swimming pools, landscaped areas, and sports courts. Buying during the planning phase can result in savings of up to 30% of the final cost. Thus, those who purchased projects on plan in 2022 or 2023 are arriving at the handover of new construction in 2024 and the delivery of new construction in 2025 in Malaga.

New construction homes in Málaga are available in various districts, offering options from affordable apartments in the capital to luxurious villas on the coast. The offer ranges from one-bedroom apartments in the capital for €150,000 to exclusive villas in Benahavís that can exceed €7 million. Always having the option to buy second-hand apartments in Malaga.

Málaga continues to be a preferred destination for new construction purchases, both by local and international buyers, driving the continuous development of the province in this sector.