The city of Malaga lies on the Mediterranean sea on the southern coast of Spain. It is a modern, energetic yet historic city with an ancient heart and as a result, it offers an eclectic mix of things to see and do with a safe and lively nightlife. Its long sandy beach front ‘Malagueta’ is an added bonus. It has an international airport, it is connected to the high-speed AVE train system and it is served by a great motorway network; be in Seville or on the Sierra Nevada ski slopes in only two hours, 4 hours to Portugal or Madrid.
For many years the city was overlooked for the traditional resorts of the Costa Del Sol. As a result, although the city was exciting it lacked investment and development. Recently more educated and well-travelled tourists have given Malaga a try and found it to be a fantastic place to visit and for some, to live and work. This has attracted private and government investment and as of 2016 it has a cruise liner mooring, a new metro system and a huge redeveloped port area. Innovative and high quality restaurants and bars open every week and premier hotels have started to open with regularity. In 2017 the Gran Miramar 5 star GL Hotel opened it’s door and soon work will start on a luxury ‘tower’ hotel on the sea front. All these exciting new additions are nestled next to the historic heart which includes; the stunning Cathedral, Arabic Palace, Castle, Roman Amphitheatre and bull ring. There is no wonder the city now regularly appears in the international press as one of the top destinations in Europe.
Hotels are frequently fully occupied and there is a lively market in renting apartments to tourists, expats, students and young professionals. There is a great deal of demand for Malaga properties and also a large number of properties needing modernisation which can be bought for low prices.
Property prices are predicted to rise during 2017, however, increases will be tempered by the lists of repossessed properties from economic downturn which remain unsold. Until the banks manage to sell these, price increases will remain sensible. All this makes Malaga a fantastic place in which to invest or grab a bargain holiday home.