See also: newly built homes Malaga, central.

Released at the end of January. Icon Limonar was called Horizon during the fall, but after a short time on the market, the developers decided to put the project on hold and redo it somewhat. It is now called Icon and it has, among other things, Energy Class A. 1-3 bedrooms. Large terraces. Storage space. Garage is included in the price. 10 minutes from the beach, 15 minutes to the airport, train and city center.

Large garden areas and large pool area. Outdoor coworking spaces and children's playground. Penthouses with solarium.

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

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

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

"It 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, says Aguilera to Canal Malaga". This project is expected to resume shortly. The pandemic didn't stop the senseless development in Malaga, it just slowed it down a bit. Since Google moved one of its most important headquarters to the city in 2021, activity among international investors has further intensified.

In this article we will go through:

1. Rental potential and expected value increase for homes in, among other places, Limonar, Malaga
2. Important information about new rental laws in Malaga province
3. Short guide to Malaga's most exclusive area Limonar/Malagueta
4. Presentation of new project with new development in Limonar
5. Statistics and information on why so many investors are starting to flock to Malaga
6. Information about different types of amusement parks and other tourist attractions that are going on in the Malaga area
7. Links to further reading and our databases of properties for sale

We have really good occupiers in Malaga city and have homes in the most attractive, central locations, such as SOHO. See our most recently published homes 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 gone up by 50% since 2013. The biggest price increases have taken place in Palma, Barcelona and Malaga. On the Costa del Sol, short-term rentals for tourists have also increased significantly, and still do not seem to have reached their ceiling. In the first 7 months before the pandemic, tourism in Malaga increased by 5.9% compared to the previous year. Even in these statistics, they go hand in hand, Malaga is at the top together with Barcelona and Palma. In the latter two areas, however, restrictions on renting to tourists and sharp price increases have greatly dampened the will to invest.

The potential for rental 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 this statistic also includes smaller and old apartments, without a view). This can be compared to lucrative Nerja, which attracts many Swedish investors as occupancy is higher there than, for example, in the Marbella area. Despite this, the average monthly rental cost in Nerja is “only” €833 according to Spainhouses.net. ATTENTION! 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 neighborhoods, Centro, and Malagueta/Limonar. We don't have any new apartments for rent in Limonar, but pulling in newly produced homes in this exclusive part of town is a bit like getting hold of the holy grail for rental companies. Many investors also feel a great deal of security in the fact that there is a strong demand for long-term rental from newly moved companies, lawyers, doctors, etc. These are also prepared to pay extra for both the location and for newly produced properties.

The increase in value in Limonar is expected, according to the construction consultant's analysis, to be approx. 7-8% per year in the next few years. Also note that off plan projects, in growth areas (which was for example the case in Nerja on projects sold in 2016-2018), usually increase in value by 25-50+% during construction until occupancy. Ask us for specific 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. In order to suppress 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 basically apply to all homes, regardless of what the residents of different areas themselves think. In Malaga, a new law entered into force in March 2019. The new law makes it easier for community 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 make, as a rule, significantly more money by renting out shorter periods. Under the new law, housing associations throughout Malaga province can ban or limit rentals for tourist purposes by putting it up for voting at an association meeting. It is enough for three fifths of the owners to vote in favor of a ban for it to apply. However, the ban does not apply to those who have already received a license to rent out their apartment . The decision thus has no retroactive effect. This is thus no problem in places such as Nerja where the majority of 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 neighborhoods and areas around SOHO, that attract the strongest capital. The area is secluded, surrounded by green nature in the form of large, well-kept gardens, and close to La Caleta beach and only a 25-minute walk from the center. The area is therefore highly sought after by families and couples who want to be close to both the pulse of the big city and the beach, but still be able to enjoy the tranquility of secluded and leafy neighborhoods, at a comfortable distance from the noise of the motorway.

Limonar is located on hills and thus enjoys spectacular views of the sea. The houses and apartments found in the area are among the most described in Spain. El Limonar is 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 joins La Caleta) is one of the city's most popular beaches.

In the Malagueta area, there are also many other sights worth noting, such as: the English Cemetery, which is considered one of the most culturally and historically important cemeteries in Europe.
Here is also the Gibralfaro castle from the 15th century (located on a lighthouse that was previously used by the Phoenicians and Romans). Here is also Malaga's best view from the Muelle Uno pier, which opened as recently as 2011. The world-famous Pompidou center is also located here. In the area there is also the bullring from the 19th century, a museum and several trendy cafes and restaurants, etc. To the east of Limonar is the very pleasant 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 m2) 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.):

With its sought-after location, Icon is perfect for renting .

Fully equipped kitchen is included in the price.

The majority of apartments have views of the sea (especially from Block C).

Storage room and garage are included in the price.

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

Double-glazed windows designed to maximize the entry of light.

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

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

High quality materials and finishes.

Sustainable construction method and energy efficiency.

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

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

The environmental thinking in this building permeates all aspects. These buildings have elevators that draw 60% less electricity, LED lighting everywhere, sockets for electric car chargers , the plants in the building require minimal water, etc, etc.

4000 m2 of green areas.

Construction begins when they are more or less sold out. Normal construction time in Spain is around 18-21 months.

Write to info@spanskafastigheter.se for more information or to book a 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 option. 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 accountant guide you through the entire process, including help with electricity, water, insurance, etc. after purchase. The Swedish-speaking bank manager is also 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).

Shared BBQ areas.

Co-working spaces.

Bank guarantee.

Strong rental potential.  Here you can read about the expected ROI (on our previous project in Limonar, but the location etc. is equivalent), produced 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 amount of €5000 and €500 to become a member of the association (these amounts are then deducted from the 20% payment when signing the purchase contract). The payments are then made as follows: 20% (upon signing the purchase contract), and a further 10% during construction. That is buyers only need to put down 30% until moving in, when the balance is paid. Please note that the loan is not activated until you move in. You thus need not be out of pocket with the interest during the construction period.

Estimated area fee: 1200-1500 € per year (the final amount is determined after moving 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 a viewing with a broker.

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

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Limonar in Malaga is not only sought after by investors but it is also the perfect area on the Costa del Sol for families with children or couples . It is a reasonably large area which is also considered to be the safest area in Malaga, like a city within a city, with proximity to the beach and the majority of excellent restaurants and cafes. Limonar is about the same size as the Scandinavians' favorite town Nerja, but with the advantage that it is much closer to everything; 10 minutes to the airport, close to the train station (e.g. it's only 2:20 minutes to Madrid with the high-speed train, less than 2 hours to Seville), world-class shopping and culture and easy proximity to all theme parks, water parks and other attractions. Several international schools nearby.

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

Read also:

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

That is 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 investment to become a cultural capital on the Mediterranean. For example, Antonio Banderas has recently opened a new high-profile theater in the city's trendy SOHO district. Since 2020, Malaga has also been named, together with Gothenburg, the capital of Smart Tourism in the EU. The focus is therefore on sustainable tourism. Development in innovative green technology is strong in Malaga.
Among other things, the city recently became an experimental "lab" for new, fully electric buses with a ground-breaking technology that means that the buses are charged during the journey, 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 the Andalusia Technology Park, which already houses over 600 tech companies, such as Oracle. The latest international campaign towards the international market (Costa del Sol in general and Malaga in particular are spending large sums on marketing post Corona to gain additional market share in Europe) is “ Malaga. Better than ever.” The Malaga area is thought to be one of the big winners Post Covid.

Even the world-renowned investor Warren Buffet, the "Oracle from Omaha" has made the same analysis and bought up a brokerage firm on the Costa del Sol. They are aiming for the long term and believe in a boom in foreign interest mainly in the 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 the low interest rates are not an anomaly. Interest rates will continue to be low within the EU. This will lead to further pushing up housing prices in both Sweden and Spain (where they are still far from reaching the same price level as before the crisis.) The price increase in Spain may be long-lasting and steep like it was in Sweden after the crisis that began in the early 90s the number. 8 years after the housing bubble burst, i.e. from the end of the 90s, the price increase began to show in earnest in Sweden after the recovery. It is approximately here in the curve that the Spanish market, which reached its bottom in 2014, is very likely to be. This is a good graph of the Swedish development in terms of the property price index since 1986. It is also continuously updated.

On the previous page, one can read that in Sweden it took approximately 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 to and including the last quarter of 2019, there has almost been another doubling of the property price index for the country as a whole. The figures are even more remarkable in e.g. Stockholm and the same will be the case in Spain, where certain metropolitan areas will increase markedly much more, especially the areas that attract international capital. Many observers believe that Spain in general, and Malaga in particular, have an equally exciting development curve ahead of them. We won't know how things will turn out until several years from now, but the development is very much following a similar curve as Sweden did after its big real estate crisis. Incidentally, the increase in prices in Spain is around 36 percent from 2014-2019, but is recovering more and more quickly even if they are still very competitive in some areas. Prices in Malaga, for example, in the fall of 2019 are 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, roughly 20% lower than 10 years ago.).

Well worth noting to further underline Malaga's potential is that 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 observers believe that this relationship will not last much longer. Any investment in Malaga will eat up the price discrepancy 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 2020s, Spain is estimated to have the EU's second strongest economic development thanks largely to 1. the increasingly strong tourism (during the pandemic summer of 2021, the Malaga area was one of the big domestic winners in Spain as Spaniards from all over the country flocked there on their homestay). 2. At the same time that the interest rate will continue to be low. 3. The Spaniards themselves are beginning to buy up housing to an ever greater extent in line with their strengthened purchasing power. 4. Brexit's clarification will finally dispel several worries for potential investors.  

We say the same thing that we started to say to our clients back in 2012 (that time about second-hand properties in Nerja): if you have decided to invest, don't wait for one or more years. The buying mode is now. Especially on new development . Waiting is just waiting for higher prices. Markedly higher prices.

Let's finish by taking a closer look at some of the major attraction projects underway that have further boosted international interest in the Malaga area:

Theme parks and other attractions underway in Malaga

In the neighboring municipality of Torremolinos , very positive things are also starting to happen after a few years of cancer. "Intu Costa del Sol" in Torremolinos is planned to be the world's first "global resort", a gigantic (235,000 m2) and innovative melting pot for art, relaxation and active recreation with wind tunnel, rock climbing simulation, etc. Modern shopping centers are also being built , focus on food experiences, beach club, casino, as well as large areas dedicated solely to children, including a fun fair. There will also be 2 hotels, a concert arena by the sea, over 70 restaurants, 262,000 m2 of green spaces inspired by "Central Park, but with the lushness of the Mediterranean area and proximity to water", conference rooms, Spain's largest urban farm, water country, etc. etc. Intu Costa del Sol is ready for inauguration as early as 2023 (however, this was before the pandemic). This investment will cost €800 million and is expected to attract 23 (!) million visitors per year. By comparison, Liseberg has 3 million visitors per year. The Corona crisis did not stop the project and additional funding was approved in May, even before the quarantine was over. The area is expected to become one of the biggest tourist attractions in Europe. Although the present looks bleak, most agree that the future for Andalusia in general and the 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 the Costa del Sol and in the area, in addition to educational exhibitions about dinosaurs (there will be created, among other things, 35 replicas of dinosaurs, of which 16 will be "moving"), there will be hiking trails and cable cars, etc. .New condos for sale in Rincon.

There is only one area in Malaga where you can build skyscrapers and there 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 pre-booked in just a couple of months and, among others, Real Madrid's 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 of 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 16 mile (!) long hiking trail Senda Litoral, which will undoubtedly become one of Spain's biggest draws. The trail connects all the resorts along the Costa del Sol and offers a spectacular walk along the sea, from Nerja in the east, to Sotogrande in the west. Several sections have already been completed, but the official opening will take place in 2022-2023.

The trend is becoming increasingly clear that tourists want Malaga as a base for their holiday on the Costa del Sol. From there, they can easily explore by train, car or on foot all the amusement parks, the beaches, the shopping opportunities, and not least all the cultural, historical and gastronomic highlights this part of Spain has to offer. By fast train, bus or rental car, you can easily and comfortably visit internationally acclaimed places such as Granada , Cordoba,  Seville , Ronda, the coastal resort of Nerja,  Cadíz , Marbella, and Gibraltar . There is also much else to do and see here, such as protected natural parks with rich wildlife (including unique bird life with Flamingos and the exciting "imperial eagle"), spectacular hiking trails in the mountains or along rivers. The most active tourists also have the surfing resort of Tarifa , as well as the ski resort of Sierra Nevada , etc. There are also day trips with ferries to Morocco from the Sunshine Coast and recently it has been decided that the port of Malaga will expand its capacity to accommodate the largest cruise ships, and thus become a hub for international cruises that have their departure point in Europe.

Read also:

• Guide Costa del Sol
• Everything about investing in Spain
• Flights to, for example, Malaga
• Apartment for sale in Malaga city center (train station)
• Guide Málaga

Email us at: info@spanskafasigheter.se

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