Málaga named the no.1 travel destination for 2023

Looking for a lucrative way to invest your money?

The solution is simple.

Buy a rental property in Málaga.

According to holiday rental experts, Airbnb, holidays are officially back on the agenda.

In a recent report, they claimed that – in the wake of the pandemic – interest in international travel has spiked over the last 12 months. And based on current search volumes, they’ve listed ten destinations that are likely to dominate people’s holiday plans in 2023.

Crowned number one? Málaga!

Well known for its sunny climate, sandy beaches and vibrant culture, Málaga is predicted to be the most popular tourist destination of the year – followed by Sydney in second place and Melbourne in third. And impressively, it’s the only European city to make the top ten.

This anticipated influx in holidaymakers presents a unique opportunity for investors. With so many people set to visit the province of Málaga in the coming months – almost all of them needing somewhere to stay – it’s easy to see how ‘buying to let’ in Spain could be a savvy decision.

There’s a ready-made audience, eager to rent your property and make you a sizeable profit.

Rental property in Málaga – a shrewd investment

Aside from being the no.1 trending travel spot for 2023, there are several other reasons why investing in property in Málaga is a particularly astute choice.

1. Affordable property prices

Property prices in Spain have continued to rise over the last 12 months.

In fact, the latest figures point to an 8% increase – with homes costing €1708 per m² on average in 2022 Q3 (compared to €1573 per m² in 2021 Q3). Yet despite this, they still remain well below the peak of the 2007 property bubble.

Homes in Spain are still very reasonably priced, particularly those in Málaga. And compared to like-for-like properties in other countries – including the UK – you can get a lot more for your money.

2. A safe investment

Regardless of the location of the property, investing in bricks and mortar is always one of the most secure methods of investment. But in the province of Málaga, it’s a particularly safe bet.

The real estate market in Málaga has a proven reputation for being stable.

Over the last 10 years, property appreciation has been – consistently – above average. Prices now stand approximately 17% higher than they were a decade ago. Which suggests, investing in a property in this area is a fantastic opportunity for capital growth.

3. Year-round demand

Málaga enjoys over 320 days of sunshine every year, as well as a rich culture, beautiful sandy beaches, picturesque landscape, an abundance of leisure pursuits to suit all interests, excellent transport connections, a good health system, low crime rates and a reasonable cost of living.

Little wonder then, that it’s been named one of the ‘happiest’ places to live.

Rental properties in Málaga are popular all year round. In fact, four out of every ten are let within a week of entering the market – even during low season. And to maximise profit, the property can be offered as a short-term holiday let in the summer and as a long-term rental in the winter.

4. High returns

According to the latest statistics, the average rental yield for a property in Málaga is 7.22%. This is well above rental yields in other popular Spanish cities, including Barcelona (5.29%) and Madrid (4.96%).

Of course, your exact profits will depend on the type and size of the property and its specific location. And you will need to pay tax on any profits obtained. But there’s no denying, investing in Málaga real estate is an easy way to make a sizeable, passive income year-on-year – with very little effort on your behalf.

Interested?

2023 is predicted to be a huge year for tourism in Málaga. And if you’d like to take advantage of the surge in visitors, by buying to let in this area, we’re here to help.

At Bromley Estates, thanks to our extensive collaboration network, we have access to all properties for sale in Málaga and the Costa del Sol. This includes new developments, villas, townhouses, apartments and land plots, with something to suit all needs, preferences and budgets.

We continuously search the market for the best homes in the tourist hotspots, including Marbella, Puerto Banús, Estepona, Cabopino, Nueva Andalucía, Elviria and more. And whether you’d like to offer short-term summer holiday lets or a long-term rental, we can help to find the ideal investment property to attract interest, and maximise your returns.

Why not take a look through our online portfolio? See if anything catches your eye.

And if you have any questions, please feel free to get in touch with our specialists. You can call us at any time on +34 952 939 460 (+44 208 068 7606) or send an email to in**@br********************.com and we’ll respond to your enquiry as soon as possible.