The price of housing on the Spanish coast has skyrocketed by more than 30% in five years, and Vélez-Málaga is among the municipalities with the largest recent increases. However, there are still towns where the price per square metre does not reach €1,300.
The dream of owning a house by the sea has become a chimera for many, especially on the Málaga coast. According to the latest data from Fotocasa and Tinsa, collected by El País, Vélez-Málaga ranks among the coastal municipalities where housing prices have experienced the most significant increase in the past year, with double-digit rises distancing it from affordability.
The situation is particularly tough for residents of Axarquía, who see the market tightening more and more. In just five years, the average price of housing in Spain has grown by more than 30%, but in many coastal areas, the increase has been even greater. Vélez-Málaga tops the list of municipalities with record increases, alongside Sagunto and Torrevieja.
An Increasingly Exclusive Coastline
The price increase is not uniform. While in Ibiza the price per square metre exceeds €8,000, and in Marbella it approaches astronomical figures, in other parts of the Málaga coast it is still possible to find homes at more reasonable prices. However, the general trend is upward. The combination of limited supply, strong international demand, and the weight of holiday homes is pushing prices up across the province.
For Málaga residents looking for a first home, the situation is critical. Access to housing on the coast has become as difficult as in major capitals, according to industry experts. And the pressure is particularly felt in municipalities like Vélez-Málaga, where the tourist pull and the arrival of foreign buyers have driven prices up.
The Exceptions That Resist in the Province
Despite the outlook, not all is lost. Although Vélez-Málaga is experiencing increases, other municipalities in the province of Málaga maintain more moderate prices, although not reaching the levels of the cheapest areas of the Spanish coastline. Lepe, in Huelva, leads the list of affordable municipalities at €1,133 per square metre, followed by La Unión (Murcia) and Amposta (Tarragona), all below €1,300.
In the province of Málaga, towns like Torrox or Algarrobo still offer relatively cheaper options than the average, although far from those minimum prices. The gap between established tourist destinations and those beginning to take off is widening, and the residents of Axarquía are well aware of this.
The evolution of the market reflects how the dream of living by the sea risks becoming a privilege reserved for a few. For the residents of Vélez-Málaga and its comarca, the question is no longer whether they will be able to buy, but when they will no longer be able to do so.
You may also like
