The Latest Spanish Property News from Kyero.com
January 18th, 2007
The most expensive homes are on the east side of the city and the cheapest are in Ciudad Jardín, says a report.
Between December 2005 and December 2006 house prices in the city of Malaga went up 9.9 per cent, placing the cost of a square metre at an average of 2,112 euros, reported the Valuers Society (ST) last week. According to the ST study, the property price increase in Malaga is the fourth greatest in Andalucía, after Seville (up 15.4 per cent), Cadiz (13.4 per cent) and Granada (11.8 per cent).
If the city is divided up into districts, the east side is where the most expensive properties can be found, with a maximum cost of 4,830 euros per square metre, while in the city centre properties have reached 4,270 euros and in Puerto de la Torre, 4,140 euros.
At the other end of the scale the cheapest properties in the city can be found in Ciudad Jardín (2,976 euros), followed by the Carretera de Cádiz district (3,278 euros) and Bailén Miraflores (3,500 euros per square metre).
In the rest of the province the town of Ronda has experienced the greatest annual increase (up 14.4%), followed by Antequera (up 11.7%), Vélez-Málaga (up 11.6%), Marbella (up 8.1%), Benalmádena and Estepona (around 7%).
In Andalucía as a whole, the average cost of a square metre went from 1,916 euros in December 2005 to 2,142 euros in December 2006, which means that an average 100 square metre property would now cost 214,200 euros. The cities with the smallest price increases were Jaén (up just 6.4%), Huelva, (up 8.2%), and Almeria and Cordoba, (up 9.8%).
Furthermore the two most expensive provincial capitals in 2006 were Seville, at 2,445 euros per square metre, and Cadiz, with 2,260 euros; while Jaén and Huelva were the cheapest, with average prices of 1,667 and 1,779 euros per square metre, respectively.
On a national level, the average price of a square metre of a new flat reached 2,763 euros at the end of 2006, showing an interannual increase of 9.8 per cent, according to the statistics from the Spanish Valuation Society (ST). This is only a slight decrease on the 2005 figure. Barcelona, Madrid, San Sebastián, Bilbao, Vitoria and Zaragoza were the most expensive cities, while Lugo, Badajoz and Pontevedra, the cheapest. The market has shot up by more than 13 per cent Aragón and Castilla-La Mancha.
