Property for Sale in Malaga City: The Complete Guide for Foreigners

Buying property in Malaga City is a great investment opportunity. The city, by the Costa del Sol, offers Mediterranean beauty, city life, and rich cultural heritage. Owning a property here in this busy Spanish city provides an amazing investment and one you can enjoy long-term through Spain’s Golden Visa program.

The Spanish property market has had its fluctuations, but Malaga is strong and growing. It has a lively real estate market because of interest from buyers around the world. This guide will help you understand Malaga’s property market, what makes it special, and the important steps to buy a home here.

Why Invest in Malaga City?

See why Malaga is so popular:

Five Reasons to Invest in Malaga Real Estate

Golden Visa Benefits

Buying a property in Malaga valued at a minimum of €500,000 lets you apply for a Spanish Golden Visa and a permit to travel freely throughout the Schengen Zone.

Perfect Weather

Malaga enjoys more than 300 sunny days a year and only has mild winters. This makes it a perfect city to live in and for a holiday home.

Affordable Luxury

Malaga boasts a very high quality of life while having much more reasonable costs of living and housing compared to major US cities or European centres such as Paris, London, and Lisbon.

A Tourism Powerhouse

Malaga is a tourism town, and the demand is always very high. Owning a house here will yield regular income with holiday rentals in busy areas, like the historic centre or along the beach.

A Market for Everyone

From modern apartments right in the city centre to luxurious villas offering the best views over the Mediterranean, Malaga’s property market is quite impressive.

Can Foreigners Buy Property in Malaga City?

There are no Malaga laws that forbid foreigners from buying a house or apartment. In fact, Spain itself encourages foreign investors to buy real estate through programs like the Golden Visa, whereby property buyers are granted residence permits, renewable in cases of meeting minimum purchase prices. 

Malaga’s real estate market is easy to reach and straightforward to international investors. Brits love it because of the rich culture that surrounds the place, relatively affordable property prices, and an opportunity to enjoy famous Spanish food and their way of life.

It is normally an uncomplicated process, yet there are some matters to consider. Getting a mortgage, for instance, may require both a Spanish bank account and an increased deposit in comparison to the natives. However, these issues can easily be managed with good assistance and planning.

Looking for Houses in Malaga

From historic townhouses in the Old Town to sleek, modern apartments commanding a view over the port, Malaga has all types of properties. Finding the right property in Malaga is easy, especially considering all the real estate portals and agents operating in retirement, investment, and relocation.

Some preferred websites for property searching are:

• Idealista

• Fotocasa

• Kyero

International buyers are best suited working with local estate agents who have experience in serving foreigners. Such agents’ services include local market knowledge and handling of issues as they arise. 

However, just like in any property purchase, it is always desirable to personally view the property to ensure that it meets your expectations.

Upscore’s Benefits

Upscore’s Finance Passport simplifies the process of your mortgage application with professional advice, especially for international buyers.

Compare Various Lenders for Their Offers: Check mortgage facilities among quite a few local lending institutions for the best offer. 

Remote Applications: Start and complete your home loan application online from anywhere in the world.

Dedicated Support: Let a dedicated agent guide you through the entire mortgage process with personalised support.

No Hidden Fees: Upscore is free. We charge the lender a fee, not you – thus making it free to use.

FAQs

Can Foreigners Buy Property in Malaga City?

Yes, foreigners can buy property in Malaga without restrictions. The process is straightforward, and buyers can benefit from Spain’s Golden Visa program by meeting the investment threshold.

Are Property Prices in Malaga Affordable Compared to Other European Cities?

It is much cheaper compared to other big cities, like London, Paris, or Berlin. International buyers, in turn, prefer this city for its reasonability and good quality of life.

Is Malaga a Good Place to Invest in Rentals?

Absolutely – Malaga is a popular tourist destination, so much demand exists for the need of short-term holiday rentals, mainly in the great spots like historic centres or closer to the beach.

How to Get a Loan to Buy Property in Malaga?

A foreign buyer can get financing either from a Spanish bank or by using a platform like Upscore. Although the deposit required might be bigger, Upscore smooths out the process for international clients.

Where is a Good Area to Buy an Apartment in Malaga?

Old Town is great for its charm, El Paso for the locals’ fees, and La Malagueta for the places by the beach. Each neighbourhood has its own magic, depending on your lifestyle and investment goals.