At the provincial level, from one quarter to the next, prices are virtually identical in Benalmádena, Estepona, Fuengirola, Marbella, Mijas and Vélez-Málaga. Only Torremolinos has registered a slight increase of 1%, reaching an average of 2,904 euros per square metre.
For Gregorio Abril, Gesvalt's regional director for Andalucía, these figures reflect "a change in the cycle".
"We are in a moment of transformation where the market is self-regulating due to factors attributable to the financial burden of buying a home. We could say that, at higher prices, housing becomes less accessible," Abril said.
According to him, after several years of sharp annual increases, the moderation of these rises indicates "a sign of maturity in the market".
"In other words, this slowdown is a direct response to demand, which we see decelerating. This isn't due to a lack of buyers, as interest in Malaga (both national and international) remains very strong, but rather because the financial strain on households has already exceeded the advisable limit, causing a drop in the number of sales, which is what's forcing prices to slow down," Abril explained.
It's worth noting that, home sales fell by 10% during the first quarter of the year in Malaga. Transactions involving second-hand homes declined by 11%, while those involving new construction fell by 6%.
"We are seeing that some demand is decreasing or buyers are taking more time to consider their purchasing decisions. Buyers are no longer willing to accept just any price and are more rigorously analysing the actual value of properties," Abril said.
According to him, buying is no longer such a profitable investment, forcing the market to slow down to balance supply and demand. This is also beginning to affect the rental market, albeit more slowly. "We believe this could be healthy for the market," he added.
In the case of rentals, the price increase continues, although slightly less pronounced than in previous quarters. At the provincial level, the average monthly rent is 17.39 euros per square metre, 1.6% higher than in the first quarter and 4.6% higher than in the same period of 2025.
In the city of Malaga, the average rent is 17.25 euros per square metre, 3.1% higher than three months ago and 4.4% higher than a year ago. In the main towns of the province, there have been hardly any changes in rental costs over the last three months.
Regarding the remainder of the year, Abril forecasts "stabilisation, but still with high prices". "At Gesvalt, we don't foresee a price drop, as there is still a shortage of new construction and significant demographic shifts in the province. However, the trend is towards flatter quarterly growth. The market will experience moderate growth, with slightly longer sales periods, but far from a scenario of price reductions," he stated.
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