NINE out of ten Andalucian towns with the most expensive housing are in Malaga province, with a typical 80-square-meter apartment costing an average €320,000.
Tarifa in Cadiz is the only pricy town not located in Malaga.
Benhavis is the Andalucian town with the most eye-watering price tag with apartments costing €5,391 per square meter. That’s €430,000 for an average apartment.
Next is Marbella at €5,262 /m2, Nerja with €4,799/m2, Fuengirola with €4,784/m2, Tarifa with €4,569/m2, and Benalmádena with €4,384/m2.
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Next is Estepona with €4,377/m2, Málaga city with €4,085/m2, Casares with €4,062/m2, and Mijas with €4,039/m2.
“The sharp rise in housing prices is posing a problem for housing affordability, which is at historic levels of difficulty,” Director of Studies and spokesperson for Fotocasa María Matos said.
“The main cause is the structural imbalance between supply and demand: demand is four times greater than available supply.”
“In fact, demand is approaching record highs, driven by changing preferences following the pandemic, increased migration (500,000 people in one year), falling interest rates, and the rise in single-person households,” she said.
Spain only has 350,000 social housing units, and there are fewer new builds in the works, despite the increasing population.
READ MORE: Madrid vs Barcelona: Two titanic cities being squeezed in the grip of Spain’s housing crisis
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