In our opinion Malaga is the best place to live in Spain.
Buying your first home on the Costa del Sol, especially for the first time, is an exciting undertaking with unique opportunities. Malaga City, with its mix of historic sites, culturally rich activities, and Mediterranean slow living, is an attractive choice for high-net-worth individuals considering a second home, retirement, or even a permanent move to Spain. The region’s property market has been booming, with prices climbing as demand continues to rise, making it an excellent time to buy in this iconic area. Here, we break down key tips to help you confidently navigate your first home purchase in Malaga.
1. Decide on Your Ideal Property Type
The Costa del Sol offers a variety of property types to suit different preferences and lifestyles. For first-time buyers, it’s essential to clarify what you envision in your new home:
- Apartments and Penthouses: Often located in bustling areas or near the beach, apartments and penthouses are ideal for those who want easy access to local dining, shopping, and entertainment. Penthouses in Malaga’s coastal areas, for example, provide fantastic views of the Mediterranean, offering a slice of urban coastal living.
- Townhouses: Townhouses combine a bit more space with the convenience of proximity to local amenities. They often come with private terraces or small gardens, making them great for families or those who want some outdoor space without full maintenance of a larger home.
- Villas and Detached Homes: For those seeking privacy and space, detached homes and villas are popular on the Costa del Sol. Many come with private pools, spacious gardens, and ample room for customisation. These properties are often found in quieter, residential neighbourhoods, perfect for a serene, retreat-like lifestyle.
- Gated Communities: Security, privacy, and exclusive amenities are some benefits of gated communities. These areas often feature shared facilities like pools, fitness centres, and golf courses, and they’re especially appealing for families or retirees seeking a secure environment.
2. Research Neighbourhoods in Malaga
Malaga has diverse neighbourhoods that appeal to different lifestyles. Consider the following popular areas:
- Historic Centre (Centro Histórico): Known for its winding streets and traditional architecture, Malaga’s historic centre is ideal for those who appreciate culture and art. You’ll be close to museums, theatres, and dining spots, allowing you to immerse in the city’s rich cultural life.
- La Malagueta: If being close to the beach is a priority, La Malagueta, right next to the historic centre, offers beachfront properties with the added convenience of being within walking distance of shops, restaurants, and Malaga’s bustling port area.
- El Palo and Pedregalejo: These neighbourhoods provide a more laid-back, residential atmosphere with a mix of traditional Spanish homes and modern properties. They’re popular among families and locals who enjoy the relaxed lifestyle of coastal Malaga.
Where you will live in will dictate your lifestyle, so choose a city that’s close to the sea and the mountains with modern conveniences.
3. Understand Financing Options
For international buyers, Spain offers several financing options. Banks in Spain typically lend up to 70% of the property’s value to non-residents, while residents can access slightly higher loan-to-value ratios. With interest rates in Spain remaining competitive, many high-net-worth buyers take advantage of mortgages to finance their investment. Working with a trusted mortgage advisor can streamline the process, ensuring you secure a loan with favourable terms.
4. Embrace Malaga’s Lifestyle
One of the biggest draws of Malaga is the lifestyle it offers. As a property owner here, you’ll have access to a dynamic mix of leisure and recreation. Malaga is home to over 30 golf courses, making it a haven for enthusiasts. You’ll also find sailing, hiking in the nearby Montes de Malaga, and cultural events year-round. This blend of outdoor and cultural experiences makes Malaga a highly desirable place to live, retire, or simply enjoy as a home away from home.
5. Work with a Trusted Real Estate Partner
Buying property in Spain involves several legal and administrative steps, so having a knowledgeable partner can make all the difference. A real estate company like Ultimate Lifestyles can help you navigate the local market, handle paperwork, and ensure your buying experience is smooth and efficient. Working with a reputable partner also provides insights into local neighbourhoods, off-market opportunities, and the best new developments on the Costa del Sol.
This beautiful townhouse has a private entrance, a tourist license, and a first occupancy license. This property is a standout opportunity for both personal use and investment. Spanning 112 m² over two levels, the home features 3 bedrooms and 2 bathrooms and comes fully furnished, as seen in the photos. Ideally located just a 10-minute walk from Málaga’s historic city center, this property ensures convenience and accessibility. Learn more about the listing on our website here.
Experience Malaga with Ultimate Lifestyles
At Ultimate Lifestyles, we’re here to guide you through the process of buying a property in Malaga. We offer a curated selection of properties—from sea front apartments to secluded villas—allowing you to find a place that suits your lifestyle.
Ready to start your journey? Visit ultimate-lifestyles.com to browse our listings, or reach out to us at +34 951 12 07 12 or [email protected] for personalised assistance. Let us help you make the Costa del Sol your new home.