Marbella, Benalmadena Costa and Estepona account for 72% of the new-build supply, according to Activum Real Estate Consulting in its latest study on the real estate scene in the Andalusian province. Up to May, more than 3,100 new homes had been sold, behind only Madrid, Barcelona and Alicante. According to Elisabet Martinez, Regional Director of the company in Andalusia, these figures exceed previous years' averages, suggesting a long-term growth trend.
The report highlights that new-build sales in Malaga have shown steady growth from 2018 to 2021, peaking in 2022, with 4,134 units sold. Although a 24% drop in the same period last year was recorded, these 2023 sales (3,108 units) still exceed previous years' figures, suggesting a long-term growth trend, the agency says.
"Although there has been a decline in new and second-hand sales compared to the previous year, Malaga continues to show solid numbers in the real estate market. The growth trend in new build sales and the stability in second-hand sales suggest continued buyer interest in the region," said Elisabet Martinez, Regional Director for Andalusia at Activum.
The report also reveals that Malaga city currently has 37% more new-build properties on offer than eight months ago, while there is 15% less on the second-hand market. More than 70% of the total new-build housing supply is in Marbella, Benalmadena Costa and Estepona, "suggesting a positive trend in building new properties in these areas", the study highlights.
In Malaga city, the average price per square metre of new construction reached €3,049 as the city attracted more and more investors and sun and beach lovers, contributing to price hikes.
On the western Costa del Sol, the price per square metre of new-build property rises to €3,332. "This region is known for its stunning scenery, spectacular beaches and luxurious properties that have attracted discerning buyers looking for the highest level of exclusivity," says Activum.
Meanwhile, on the eastern Costa del Sol, new-builds' price per square metre remains slightly lower at €2,298 per square metre.
On idealista, you can find new-build properties in Benalmadena Costa, Marbella and Estepona with modern finishes and state-of-the-art designs.
If you're interested in moving to Malaga, read more about the best places to live on the Costa del Sol for expats.
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