Axarquia rental prices reach historic high

STUDIES have shown that property rental prices in the Malaga and Axarquia provinces are at historic highs.

In a report revealed by real estate company Idealista, property prices along the western Costa del Sol and Costa Tropical are at the highest rate for over 20 years.

Among the places surveyed, Marbella aside, Torremolinos sits at the top of the table for house rental pricing. Typically you will pay around €10.60 per square metre to rent a space there, demonstrating an increase of 11% over 2018.

These prices mean that a typical 100 square metre home to rent would cost around €1000 per month.

Further down the list and across the provincial border, the Axarquia capital Velez Malaga seems much more affordable, with figures showing properties go for around €5.50 per square metre. Coastal town Rincon de la Victoria is a little pricier with €7.90.

On average prices have risen around 8% on last year, meaning it is the worst time to be a tenant, but the best to be a property owner.