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Malaga Ranks as Fifth Most Preferred City Globally for Second Home Purchases

Malaga ranks as the world’s fifth most popular destination for those looking to buy a second home, as revealed in recent global rankings. Valencia is the subsequent Spanish city on the list, positioned at number 18, based on the latest international data.

According to recent findings, Malaga stands out as a leading global choice for purchasing secondary residences.

This Spanish city is the only one from the country to make it into the top five, according to an analysis by the real estate comparison service GetAgent. The surge in interest towards Malaga, a prime Costa del Sol spot, is attributed to its booming tourism, drawing millions for its scenic beaches, pleasant weather, and cultural richness.

GetAgent highlights Malaga's appeal, noting its abundance of museums and galleries that art enthusiasts will enjoy, alongside its picturesque beaches, offering a splendid retreat for both property owners and visitors.

The Gold Coast in Australia secures the top position, renowned for its beautiful beaches and amusement parks, which has contributed to a marked rise in property values.

The top five cities, based on property searches, are:

  1. Gold Coast, Australia (49,200 property searches)
  2. Melbourne, Australia (44,900 searches)
  3. York, United Kingdom (33,800 searches)
  4. Cape Town, South Africa (32,900 searches)
  5. Malaga, Spain (26,200 searches)

Property prices in Malaga have seen a 20% increase over the last year, pushing the cost to 3,300 euros per square meter, as per Fotocasa data.

Following Malaga, Valencia is ranked 18th. GetAgent's country-specific analysis reveals Ireland as the top country for second home interest, with New Zealand, the United Kingdom, Equatorial Guinea, Italy, Portugal, and Spain (seventh with 29,200 annual searches) trailing behind.

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