The consultancy Gloval has presented its “VIII Barometer of the Residential Market of Andalusia”. This quarterly report provides a detailed analysis of price trends in the residential markets of the provincial capitals, the Seville metropolitan area, and, as a new feature, Costa del Sol towns.
Prices in the Andalusian proicapitals
At the end of Q2 2024, Cadiz and Malaga stood out with the highest housing prices, reaching €2,684/m² and €2,681/m², respectively. Other capitals recorded the following prices per m²: Seville (€2,176/m²), Granada (€1,988/m²), Cordoba (€1,458/m²), Almeria (€1,374/m²), Huelva (€1,287/m²), and Jaen (€1,176/m²).
The report reveals an increase in housing prices across all Andalusian capitals on a year-on-year basis, with Malaga leading the way with a growth of 15.2%. Granada (8.9%), Cadiz (7.1%), Huelva (6.2%), Almeria (6.1%), Seville (4.5%), Jaen (3.4%), and Cordoba (2.8%) also experienced increases.
Compared to Q1 2024, all provincial capitals saw housing prices rise, with Malaga standing out again with a growth of 5.4%. They are followed by Almeria (3.8%), Cadiz (3.4%), Jaen (3%), Seville (2.8%), Huelva (1.7%), Granada (1.5%) and Cordoba (1.2%).
Property gross profitability
In terms of gross profitability, Almeria leads with 7.58%, closely followed by Huelva at 7.55%. While Malaga does not top the profitability chart, it has the highest rental price at €14.43/m² per month, representing a gross profitability of 6.46%.
The unit price in the Seville metropolitan area stood at €1,485/m² at the end of Q2, reflecting an annual increase of 6.2% and a quarter-on-quarter growth of 3.3%. Seville city remains the most expensive in its metropolitan area at €2,176/m², followed by Mairena del Aljarafe (€1,846/m²) and Tomares (€1,812/m²).
On the outskirts of Seville, all towns, except Gelves (-4%) and Gines (-0.7%), recorded increased property prices compared to the previous quarter. The annual increases in Alcala de Guadaira (10.4%), Gelves (9.5%), and Camas (9.1%) are particularly notable.
Costa del Sol
On the Costa del Sol, Marbella leads with the highest housing price at €3,920/m², followed by Fuengirola (€3,090/m²), Benalmadena (€3,019/m²), and Estepona (€2,984/m²). Malaga city costs €2,681/m², while towns such as Mijas, Manilva, and Velez-Malaga are more affordable.
No negative annual trends were recorded on the Costa del Sol, with Torremolinos and Malaga showing the largest year-on-year increases at 15.3% and 15.2%, respectively. Quarterly, Benalmadena (6.7%) and Malaga (5.4%) stand out for their price increases.
“Malaga demonstrates a very pronounced annual growth in housing prices, setting itself apart from the other provincial capitals. Alongside Cadiz, it has the highest per-square-metre prices for both sales and rentals. However, Marbella leads in the non-capital areas, with prices approaching €4,000/m², highlighting that the Costa del Sol is a region of particular interest for real estate investment,” says Roberto Rey, President and CEO of Gloval.