Newly built apartments in Malaga in the exclusive area of Limonar (1-3 bedrooms, large terraces)

Released at the end of January. Icon Limonar was called Horizon during the autumn, but after a short time on the market the developers decided to put the project on hold and do something about it. It is now called Icon and it has, among other things, Energy Rating A. 1-3 bedrooms. Large terraces. storage room . Garage included in the price . 10 minutes from the beach, 15 minutes to the airport, train and town center .

Large garden areas and large pool area. Outdoor coworking spaces and playground for the children. penthouse with solarium.

However, prices are increasing rapidly and according to Spanish economic institutes, prices on the Spanish housing market are expected to increase the fastest in Malaga post Corona. The recovery after the pandemic crisis has been sensational for Malaga. In Spain, it was already written before the summer of 2020 that really heavy, international funds are now looking to Malaga, which is now only behind Barcelona and Madrid in investment grade.

Malaga has fantastic growth

Prices are expected to increase rapidly in Malaga and according to Spanish economic institutes, prices on the Spanish housing market are expected to increase the fastest in Malaga post Corona/inflation. The recovery after the pandemic crisis has been sensational for Malaga. In Spain, it was already written before the summer of 2020 that really heavy, international funds are now looking to Malaga, which is now only behind Barcelona and Madrid in investment grade.

Just before the pandemic, the media reported that George Clooney and a group of producers wanted to buy Malaga's football club as this was in line with their other plans to turn the city into the "new Hollywood". From Expressen:

“There is a very important group of film and television producers who are here in Malaga. They want to make Malaga the Hollywood of Europe and they are currently filming a series for Amazon here in Malaga. There is a huge economic potential,” Aguilera tells Canal Malaga. “This project is expected to resume shortly. The pandemic did not stop the senseless development in Malaga, it only slowed it down a bit. Since Google moved one of its most important headquarters to the city in 2021, activity among international investors has intensified further.

In this article we will go over:

Rental Potential and expected value increase for homes in, among others, Limonar, Malaga
Important information about new rental laws in Malagaprovince
Short guide to Malaga's most exclusive area Limonar/Malagueta
Presentation of new project with new development in Limonar
Statistics and information on why so many investors are starting to flock to Malaga
Information about different types of amusement parks and other tourist attractions that are coming up in Malagaarea
Links to further reading and our databases of properties for sale

We have really talented tenants in Malaga city and have homes in the most attractive, central locations, such as SOHO. See our latest published properties in Malaga on this page

Rental Potential and value increase in the long term

Just before the pandemic, the national statistics agency published figures that shed light on the rental market in Spain. Rents have increased by 50% since 2013. The largest price increases have occurred in Palma, Barcelona and Malaga. On Costa del Sol short-term rentals to tourists have also increased significantly, and still do not seem to have reached their peak. In the first 7 months before the pandemic, tourism in Malaga increased by 5.9% compared to the previous year. Even in these statistics, which go hand in hand, Malaga is at the top together with Barcelona and Palma. In the latter two areas, however, rental restrictions to tourists and sharp price increases have severely dampened the willingness to invest.

The potential for rentals in the exclusive area, Limonar, is enormous. According to statistics from Spainhouses.net, the average cost of a rental property is €1,800 per month in Limonar (note that these statistics also include smaller and older apartments, without views). This can be compared to the lucrative Nerja, which attracts many Swedish investors as occupancy rate is higher there than in Marbellaarea, for example. Despite this, the average cost per month for rentals is “only” €833 in Nerja according to Spainhouses.net. NOTE! The figures are based on long-term rentals. Holiday rentals have significantly higher figures.

Which areas are the most in demand in Malaga then? The historic districts, Centro, and Malagueta/Limonar. We don't have any new apartments for rent in Limonar, but bringing in new homes in this exclusive part of town is a bit like getting your hands on the holy grail for rental companies. Many investors also feel very secure in the strong demand for long-term rentals from newly moved companies, lawyers, doctors, etc. These are also prepared to pay extra for both the location and the new construction.

Value Increase in Limonar is expected, according to the construction consultant's analysis, to be approx. 7-8% per year in the coming years. Please also note that off-plan projects, in growth areas (which was the case in Nerja for projects sold in 2016-2018, for example), usually increase in value by 25-50 +% during the construction process until move-in . Ask us for concrete examples.

Important about renting! New laws

Renting out your home to tourists for a week or a month at a time is a rapidly growing market in Malaga. To curb this market, Malaga has chosen a different path compared to, for example, Barcelona and Palma or the Canary Islands, where the restrictions are very strict and apply to basically all homes regardless of what the residents in different areas think. In Malaga a new law came into force in March 2019. The new law makes it easier for housing associations to decide on restrictions on the owners' right to rent out their homes. The restriction only applies to rentals shorter than 2 months. The problem, however, is that owners generally earn significantly more money from renting out shorter periods. According to the new law, housing associations throughout the province of Malagacan ban or restrict rentals for tourist purposes by putting it to a vote at an association meeting. It is enough for three-fifths of the owners to vote in favor of the ban for it to apply. However, does not prohibit those who have already received a license to rent out their apartment. The decision therefore has no retroactive effect. This is therefore not a problem in places such as Nerja where the majority of the owners are foreigners who are happy to rent out their homes when they are not there to finance the loan costs.

History repeats itself. Malaga is once again entering a period of greatness and it is still El Limonar, along with parts of the historic quarters and the areas around SOHO, that attract the strongest capital. The area is secluded, surrounded by lush nature in the form of large, well-kept gardens, and close to La Caleta beach and only a 25-minute walk from town center . The area is therefore highly sought after by families and couples who want to be close to both the city pulse and beach , but still be able to enjoy the peace and quiet of secluded and leafy neighborhoods, at a comfortable distance from the noise of the highway.

Limonar is located on hills and thus enjoys spectacular views of the sea. The houses and apartments that can be found in the area are among the most described in Spain. El Limonar is located just north of Malagueta, but the big difference is that it is a quieter area, more characterized by peace and quiet in a greener landscape. Malagueta beach (which connects with La Caleta) is one of the city's most popular beaches.

In the Malagueta area there are also many other attractions worth noting, such as: the English Cemetery which is considered one of the most culturally and historically important cemeteries in Europe. Here you will also find the Gibralfaro Castle from the 15th century (located on a lighthouse previously used by the Phoenicians and Romans). Here you will also find the best view of Malaga from the Muelle Uno pier which opened as recently as 2011. Here you will also find the world famous Pompidou Center. The area also has a bullring from the 19th century, a museum and several trendy cafes and restaurants etc.
East of Limonar you will find the very nice area of Pedregalejo, and its lovely beach .

Exclusive homes in an exclusive area with minimal visibility and maximum security. Large terraces and south facing.

Prices:

1 bedroom (63 sqm ) from €280,000

13-14% in taxes etc. are added to all prices.

Write to info@spanskafastigheter.se

See short presentation video about Icon below (more pictures etc.):

Icon is with its requested location perfect for rental.

Fully equipped kitchen included in the price .

Most apartments have sea views (especially from Block C).

storage room and garage included in the price .

Close to everything. Hospital, cafes, restaurants, gym, health club, riding club (in an area also known for its views and traditional gastronomy), greengrocer and Corte Ingles supermarket etc.. 10 minute bike ride to the centre Malaga along lightly trafficked roads. Approximately 25 minute walk to the beach (approx. 1 km. as the crow flies). 5-10 minutes by bike.

Double-glazed windows designed to maximize light entry.

Building adapted for the disabled. Elevator in the building (with low energy consumption).

Aerothermal system (A/C) which provides energy efficient and environmentally friendly heating of the home.

High quality materials and finishes.

Sustainable construction method and energy efficiency.

Energy Rating A. Self-produced electricity via solar cells!

Briefly about energy rating in Spain. Energy Rating G means electricity costs of around €2000 per year. Energy Rating B around €400 per year (prices estimated mid-September 2021). Between August 20 and August 21, electricity prices in Spain rose by 34.9%!

The environmental mindset of this building permeates all aspects. These buildings have elevators that use 60% less electricity, LED lighting throughout, outlets for electric car charger, the plants in the building require minimal water, etc., etc.

4000 sqm of green space.

Construction will begin when they sold more or less finished. Normal construction time in Spain is around 18-21 months.

Write to info@spanskafastigheter.se for more information or to book viewing (note, all international clients are forwarded to us, so for the fastest response write to us directly). Read more information, with more pictures, availability and floor plans on this page.Financing. Loan opportunity. Up to 70%. Smooth application with Swedish staff. Among other things, you do not need to hire an authorized translator for the requested documents. We and our lawyer and the project's auditor will guide you through the entire process, including help with electricity, water, insurance, etc. after purchase. The Swedish-speaking bank director will also be happy to answer questions regarding the guarantee, etc. if desired. Please note that buyers must be approved by the bank regardless of whether they will have a loan or not (for increased security).

Communal BBQ areas.

Co-working spaces.

Bank guarantee.

Strong rental potential . Here you can read about expected ROI (on our previous project in Limonar, but the location etc. is equivalent), prepared by a rental company and a housing market consultant, which estimates income and expenses on both rental and value increase (however, it does not include deductions before tax). The rental income for a 2-bedroom apartment is estimated to be approx. €33,000 per year, gross.

payment plan (preliminary, subject to change). Reservation Fee of €5,000 and €500 to become a member of the association (these amounts are then deducted from the 20% payment upon signing the purchase contract). Payments are then made as follows: 20% (upon signing of the purchase contract), and an additional 10% under construction once. That is. Buyers only need to put down 30% until move-in when the rest is paid. Please note that the loan is not activated until move-in . You therefore need Don't miss out on the interest during the construction period.

Estimated area fee: €1200-1500 per year (the final amount will be determined after move-in )

Property tax: Approx. €400 per year.

Address: Professor Jesús Marín Street, s/n, 29016 Málaga

Write to info@spanskafastigheter.se for more information or to book viewing with a broker.

We first announced this project in our newsletter for both Nerja and Marbellaareas, and gave our subscribers the opportunity to pre-book a few days before we launched it publicly. Would you like to receive our upcoming newsletters for Costa del Sol? SBook your Nerjaarea here. Here you can sign up for Marbellaarea.

Lemon trees, Malaga

Limonar in Malaga is not only sought after by investors but it is also perfect area on Costa Del Sol for families with children or couples. It is a reasonably large area that is also considered the safest area in Malaga, as a city within the city, with proximity to beach and several superb restaurants and cafes. Limonar is about the same size as the Scandinavians' favorite resort Nerja, but with the advantage that it is much closer to everything; 10 minutes to the airport, close to the train station (for example, it is only 2:20 minutes to Madrid by high-speed train, under 2 hours to Seville), world-class shopping and culture and convenient proximity to all amusement parks, water parks and other attractions. Several international schools nearby.

More pictures, including common co-working spaces and the BBQ area:

Read also:

Read our overview article with new development on Costa del Sol.
Archive with the latest items from, and articles about, Malaga.
Subscribe to our newsletter Western Costa del Sol (Marbella, Estepona etc.)
Subscribe to our newsletter Western Costa del Sol (Nerja, Torrox, Costa Tropical)

That's why so many people want to invest in Malaga in 2023 and beyond

Malaga is doing everything right at the moment with the expansion of a metro and the focus on becoming a cultural capital of the Mediterranean. For example, Antonio Banderas recently opened a new, acclaimed theater in the city's trendy SOHO district. Since 2020, Malaga has also been named, together with Gothenburg, as the capital of Smart Tourism in the EU. The focus is therefore on sustainable tourism. The development of innovative green technology is strong in Malaga. For example, the city recently became an experimental “lab” for new, fully electric buses with a groundbreaking technology that means the buses are charged while traveling, and this technology is expected to be implemented around the world within a few years. In addition, the city is becoming a European hub for tech companies with Andalusia Technology Park, which already houses over 600 tech companies, such as Oracle.
The latest international campaign against the international market (Costa del Sol in general and Malaga in particular are spending large sums on marketing post Corona to take additional market share in Europe) is "Malaga. Better than ever.". Malagaarea is believed to be one of the big winners Post Covid.

Even the world-famous investor Warren Buffet, the "Oracle of Omaha", has made the same analysis and bought a brokerage firm on Costa del Sol They are aiming long-term and believe in a boom in foreign interest, especially for Costa del Sol in the next 10 years. Malaga also announced in July 2020 that it is now launching "Malaga 2030", the initiative that will make the city the most attractive place in Europe to "live, work and invest in.".

The market has realized that low interest rates are not an anomaly. Interest rates will continue to be low in the EU. This will lead to further housing prices in both Sweden and Spain (where they are still far from reaching the same price level as before the crisis.) Price increase in Spain may be long-lasting and steep, like it was in Sweden after the crisis that began in the early 90s. 8 years after the housing bubble burst, that is, from the end of the 90s, price increase began to shine in earnest in Sweden after the recovery. This is approximately where the Spanish market, which reached its bottom in 2014, is most likely located. This is a good graph over the Swedish development in terms of property price index since 1986. It is also updated continuously.

On the previous page, you can see, among other things, that in Sweden it took about 7 years for housing prices to recover, and 8 years after that (third quarter 2006) prices at the national level in Sweden had doubled (!) Up until the last quarter of 2019, there has been almost another doubling of the property price index for the country as a whole. The figures are even more remarkable in, for example, Stockholm and the same will be the case in Spain, where certain metropolitan areas will increase significantly more, especially those areas that attract international capital. Many analysts believe that Spain in general, and Malaga in particular, has an at least as exciting development curve ahead of it. We will only know for sure in several years what will happen with that matter, but the development is very much following a similar curve to that of Sweden after its major property crisis. The increase in prices in Spain is around 36 percent from 2014-2019, but is recovering faster even though they are still very competitive in some places. Prices in Malaga, for example, are in the fall of 2019 just over 30% cheaper than they were 10 years earlier (in Marbella where the recovery has been faster, prices are about 25% lower, and in Nerja, where Swedish investors have traded a lot in recent years, about 20% lower than 10 years ago.).

It is worth noting that to further underline Malaga's potential, the square meter prices in Marbella are 50% higher! Considering everything that has happened in Malaga in the last decade and what is going on in the next few years, most Spanish analysts believe that this relationship will not last much longer. All investments in Malaga will eat up the discrepancy between the prices between the two cities.

"...in a global context, Spain's prime city markets offer value for money and more growth potential than other world cities … During the past five years, the number of international buyers has nearly doubled … the Spanish property market has been in recovery for a number of years, much of the progress has been recovering old ground, rather than fresh growth. The market is expected to continue growing, but there are likely to be regional differences, with the larger and second tier cities seeing higher rises compared with rural and less populated areas.” — Propertywire.com 10/4/2019

Already in the early the 2020s Spain is expected to have the EU's second strongest economic development, largely thanks to 1. the increasingly strong tourism (during the pandemic summer of 2021, Malagaarea was one of the big domestic winners in Spain as Spaniards from all over the country retreated there for their homecoming). 2. At the same time, interest rates will continue to be low. 3. The Spaniards themselves are starting to buy up homes to an increasing extent in line with their strengthened purchasing power. 4. The clarification of Brexit will finally dispel several clouds of concern for potential investors.

We say the same thing we started telling our clients back in 2012 (that time about used listing in Nerja): if you have decided to invest, don't wait a year or more. The time to buy is now. Especially in new development . Waiting is just waiting for higher prices. Significantly higher prices.

Let's finish by taking a closer look at some of the major attraction projects that are underway and have further strengthened international interest in Malagaarea:

Amusement parks and other attractions coming up in Malaga

In the neighboring municipality Torremolinos things are also starting to happen very positively after a few years of stagnation. “Intu Costa del Sol” in Torremolinos is planned to be the world's first "global resort ", a gigantic (235,000 sqm ) and innovative melting pot for art, relaxation and active recreation with a wind tunnel, rock climbing simulation, etc. It is also being built modern shopping centers, focused on food experiences, beach club, casino, as well as large areas dedicated exclusively to children, including a funfair. There will also be 2 hotels, a concert arena by the sea, over 70 restaurants, 262,000 sqm of green spaces inspired by “Central Park, but with the lushness of the Mediterranean and the proximity to water”, conference facilities, Spain's largest urban farm, water-land, etc. etc. Intu Costa del Sol is ready for inauguration already in 2023 (this was before the pandemic, however). This investment will cost €800 million and is expected to attract 23 (!) million visitors per year. In comparison, Liseberg has 3 million visitors per year. The Corona crisis did not stop the project and additional financing was secured in May, even before the quarantine was over. The area is expected to become one of the largest tourist magnets in Europe. Although the present looks bleak, most agree that the future for Andalusia in general and Costa del Sol in particular is very bright.

A little further east in Rincon (approx. 10 minutes by car from central Malaga) the authorities have recently approved the construction of a unique Dinosaur theme park. The developers aim to build the most successful family park on Costa del Sol and the area will, in addition to educational exhibitions about dinosaurs (35 copies of dinosaurs will be created, of which 16 will be "moving"), have hiking trails and cable cars, etc. New apartments for sale in Rincon.

There is only one area in Malaga where skyscrapers can be built and that is where the company Metrovacesa has decided to build the spectacular landmark Picasso Towers. An article for the Telegraph said the following about this project: “It's our One Hyde Park. There's nothing like it in Málaga .. For the super high-end, Picasso Towers will be the catalyst to get household names – the Zumas and Nobus, big-brand beach bars and international schools – to come to Málaga. They are already eyeing up the city.” 75% were booked in just a couple of months and, among others, Real Madrid superstar Isco has reserved a penthouse. Actor Antonio Banderas on Malaga's development: “Marbella, a small town, has always had this type of high life. It's always been more egocentric. It's interesting that Málaga hasn't. But now, this project is transporting that type of lifestyle – in front of the ocean, with amazing sunsets.” The prices for this particular project? From €895,000…

The biggest attraction of them all, which will attract more tourists and more international attention than any other attraction in Andalusia, will be the over 160 km (!) long hiking trail Senda Litoral which will undoubtedly become one of Spain's biggest attractions. The trail connects all the towns along Costa del Sol and offers a spectacular walking along the sea, from Nerja in the east, to Sotogrande in the west. Several sections are already completed but the official opening will take place in 2022-2023.

The trend is increasingly clear that tourists want to use Malaga as a base for their holidays on Costa del Sol. From there, they can easily explore all the theme parks, beaches, shopping opportunities, and not least all the cultural, historical and gastronomic highlights this part of Spain has to offer by train, car or on foot. By high-speed train, bus or rental car, you can easily and comfortably visit internationally acclaimed places such as Granada, Cordoba, Seville, Ronda, coastal town Nerja, Cadiz, Marbella, and GibraltarThere is also much else to do and see here, such as protected natural parks with rich wildlife (including unique birdlife with Flamingos and the exciting “imperial eagle”), spectacular hiking trails in the mountains or along rivers. The most active tourists also have the surf resort Tarifa, as well as the ski resort Sierra Nevada, etc. Day trips are also organized with ferries to Marofrom Costa Del Sol and recently it has been decided that the port of Malaga will expand its capacity to accommodate the largest cruise ships, thus becoming a hub for international cruises originating in Europe.

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