| In brief - You're in a hurry but want to understand? The Malaga real estate market is dynamic: +15.5% year-on-year and an average of €3,652/m2. Rentals are €1,000 more expensive than the national average: €15.4/m2 (Idealista). The luxury segment is gaining momentum: 1 property in 10 exceeds €2.5 million. Foreign investors and premium tenants prefer modern, well-locatedturnkey properties. The average cost of renovation in Spain is €600 to €1,200/m2. In Málaga, expect to pay the higher end of the scale for a complete renovation using quality materials: €900/m²-€1,200/m². Renovation work carried out properly boosts rental profitability and increases the value of a property by +30%. Renovationfrom a distance: beware of language, standards and artisans found in a hurry. It's better to have reliable local support and a single point of contact. Terreta Spain manages your Malaga project from A to Z: advice, estimates, administrative procedures, follow-up and delivery. In English, French and Spanish. We aim to maximize the value of your property, secure your project and save you time! |
You've finally found the perfect apartment in the heart of Malaga's historic center, or a lovely house in the hills, but here's the thing: between the old windows, the cracks and the tiny kitchen, you really need to consider a total renovation. Most investors in Spain have to go through this process, and it can quickly become a headache for foreign buyers who don't speak Spanish, aren't familiar with local standards and are often buying from a distance.
Don't panic!
In this practical guide, you'll find all the advice Terreta Spain's experts have to offer: average costs, key stages and best practices for transforming your Andalusian finca or Malaga apartment with complete peace of mind.
Photo title Malaga, Andalusia
Source Source : Google Maps
Malaga: demanding investors and tenants
Foreign buyers flock to Malaga
Let's set the scene to understand what's at stake in Malaga's successful renovation.
The pretty Andalusian town attracts French, Belgian, Swiss and international buyers every year, seduced by its quality of life, climate and dynamic real estate market.
- In the second quarter of 2025, 27% of demand in the Andalusian city will come from foreigners, led by the British, who have been Spain's leading foreign investors for several years.
In Malaga, you can buy at €3,652/m2, with double-digit price growth over the year (+15.5%, Idealista). This is €1,000 more than the national average. Prices are approaching €5,000/m2 in some districts, such as Este, along the famous Malagueta beach. This is expensive for the local buyer, but not so much for the international buyer with higher purchasing power.
The 5 Spanish provinces with the highest share of international demand
Idealista, September 2025
Terreta Spain's advice: The prime sector is gaining ground in the city, with 1 in 10 apartments now exceeding 2.5 million euros. In this context, it's impossible to be left behind with an unreformed property.
Request your personalized renovation estimate in Malaga with Terreta Spain.
More and more tenants opt for premium properties in Malaga
In Malaga, rents are also on the rise: expect to pay €15.4/m2 in autumn 2025 (+3.8% over the year). In the luxurious Martiricos la Roca district, close to the historic center, a 100 m2 apartment rents for around €2,400. Again, this is €1,000 above the national average. At these prices, tenants are demanding.
A recent study by real estate services company Savills shows that Malaga is one of the top three cities for cities preferred by digital nomadsleaving behind cities such as Dubai, Miami and Lisbon. For their part, expatriates voted Malaga best city in the world.
In terms of tourism, Malaga-Costa del Sol airport welcomed 5.5 million passengers between June and September 2025 (+7%). These tourists need accommodation, and are looking for alternatives to the city's many luxury hotels, of which there will be 70 by 2028.
To find out more about why you should buy in Malaga, read our full article: "Why invest in Malaga".
Renovating your house or converting your apartment in Malaga: a strategic opportunity for investors
An aging building stock
In Malaga, as elsewhere in Spain, around 25% of homes are still "in their original state", and there's a strong demand for properties that have already been renovated, optimized and turned-key. Foreign buyers don't hesitate to pay top dollar for a zero-defect property. Neither do premium tenants.
Renovate your property to boost profitability and increase value
In Malaga, the price difference between a renovated property and an older home is considerable: a well-executed renovation can increase the value by more than 30%.
Better insulation, quality materials, an extra bedroom or an open kitchen in your typical hillside house or small old apartment in Malaga: all of these can justify a higher purchase price or rent, but also attract an upscale clientele.
On average, profitability in Malaga is around 5% gross, but with renovation work, it can increase significantly.
In other words, on the Costa del Sol, the more comfortable, flexible and efficient your property is, the more it will attract quality tenants or buyers with a comfortable budget.
Terreta Spain tip: Renovating your property in Malaga is an essential investment strategy, given the strong rental demand and rapidly rising prices. You'll rent faster and more expensively if your apartment has been well thought-out and refurbished using quality materials. The same goes for resale: your house or apartment won't stay on the market for long, and will sell for more if you carry out work before selling.
- Bonus: you can deduct this work from your capital gains.
To find out more about real estate capital gains, consult our practical information sheet.
Ready to maximize your returns in Malaga? Request your personalized renovation estimate in English, French or Spanish.
How much does a renovation in Malaga cost?
In Spain, the cost of a complete renovation (electricity, plumbing, finishing) ranges from €600 to €1,200 per square meter, depending on location and materials chosen.
- In Malaga, the cost of renovation can reach the upper end of the range (€900/m² and more) in the city center or in premium districts, due to the demand for high-standard properties.
Terreta Spain tip : Don't forget to factor in the cost of building permits issued by the local council. These are generally affordable, at around €300, but can rise depending on the nature of the property, the complexity of the project and its location. In Malaga, the average price is €650 (Certicalia).
To find out more about work permits in Spain, read our dedicated article: "Work permits in Spain".
What's the deadline for your work in Malaga?
As a general rule, you should expect to spend 3 to 4 months renovating an apartment or house of around 100 square meters in Malaga. Times can be longer in certain situations or if the property is larger. Add to this the time it takes to obtain your building permit , which can take up to 6 months if the town hall is overwhelmed.
How to manage your construction site in Malaga remotely? Challenges for foreign investors
Complex and time-consuming procedures for obtaining work permits, unreliable craftsmen who inflate prices when dealing with foreign customers, dealing with the unexpected... If you're not on the spot and you speak poor Spanish and Andalusian (even worse ;-), managing the construction of your house in Malaga can quickly become time-consuming, risky and a source of unpleasant surprises. A bad trio.
The success of your renovation project in Malaga can't be improvised. It depends on reliable support, selecting the right contractor and the right local craftsmen. The team must :
- Mastering regulations, local and fiscal standards, administrative procedures and building permits.
- Evaluate quotations, check quality, references and certifications.
- Monitor the site in real time, meet deadlines and budgets, and ensure administrative and technical follow-up.
- Obtain legal compliance and a satisfaction guarantee on final acceptance of the worksite.
Ready to transform your property in Malaga? Terreta Spain takes care of everything: from design to delivery, stress-free and in your own language. Request your personalized quote now.
Terreta Spain: a multilingual team to manage your renovation work in Malaga
Entrust your work to experts who speak your language
The Terreta Spain team works in French, English and Spanish for its international customers. Led by Gaetano Grana, our construction manager, the team has more than 120 projects to its credit.
Want to get to know Gaetano? We understand... It's this way.
Terreta Spain: full service for your work in Malaga and beyond
The Terreta Spain team takes care of everything, from estimating renovation potential and assessing profitability, right through to final handover of the project:
Steps in Terreta Spain's renovation program
We have a thorough understanding of the local market, rely on a network of carefully selected, reliable craftsmen, know where renovation generates the greatest added value, and know what mistakes to avoid.
At Terreta Spain, the whole team has invested in the country. And we've all done varying degrees of work to make our properties more to our liking or to turn them into "cash machines".
Tip: Visit our Youtube channel to see 10 apartments renovated by the Terreta Spain teams.
Contact us for tailor-made assistance in Malaga in French, English or Spanish.
Terreta Spain's practical tips for successfully renovating your Malaga apartment
- Visit several propertiesto identify renovation potential and estimate costs.
- Integrate renovation costs into overall investment strategy.
- Draw up a provisional budget: include all items (work, taxes, fees, equipment) + an allowance for contingencies (10-20%).
- Choose a serious renovation contractor: prioritize quality and experience over price alone.
- Anticipate local legislation and authorizations: start the process as early as possible.
- Monitor the site, even from a distance: demand photos and regular reports.
See our articles on renovation for more information:
Useful links
- Gerencia del urbanismo de Málaga. This is the place to apply for building permits.
FAQ - Renovation in Malaga with Terreta Spain
Why renovate a property in Malaga?
Renovating in Malaga can increase the value of your property by an average of 20-30%, improve its rental profitability, bring it up to current standards and meet the strong demand for "turnkey" housing. This is particularly strategic in a city where prices have risen by 15.5% in one year.
What is the average cost of renovation in Malaga?
In Malaga, expect to pay an average of €900/m2 for quality work.
What's the deadline for your work in Malaga?
On average, it takes 3 to 4 months to renovate 100 m². It may take longer for larger properties, or depending on the circumstances. Obtaining a building permit can add more than 6 months.
What are the tax benefits of energy renovation?
In Spain, you can benefit from a tax reduction of between 20% and 60%, depending on how energy-efficient your property is. These incentives encourage the modernization of aging housing stock.
Do I need a permit for my renovation work?
This depends on the extent of the work. A distinction is made betweenobra menor (minor works) andobra mayor (major works requiring a permit). Terreta Spain can help you with all the administrative formalities to ensure that your project complies with the regulations.
Why use Terreta Spain rather than a local contractor?
Terreta Spain avoids the risks associated with language barriers, unfamiliarity with local standards and lack of follow-up. We manage the entire project: estimates, quotation comparisons, site supervision, administrative procedures and final acceptance, all in French, English or Spanish.
How long does a renovation in Malaga last?
The duration varies according to the scope of the work: from a few weeks for a light renovation to several months for a complete transformation. Terreta Spain draws up a precise schedule and ensures regular follow-up to meet deadlines.
Can I follow the progress of my project if I'm not on site?
Absolutely. Terreta Spain provides regular reporting with remote milestones and photos, allowing you to follow your project in real time from anywhere.
How much margin should I leave for unforeseen circumstances?
It's a good idea to add 10-20% to the initial budget to allow for unforeseen circumstances that may arise during a renovation project.
Does Terreta Spain work with certified professionals?
Yes, we work exclusively with a network of verified, certified and trusted local contractors, architects and craftsmen, selected for their reliability and quality of work.
What types of property can Terreta Spain renovate?
We work on all types of projects: typical Andalusian houses, apartments in the historic center, contemporary lofts, modern villas, or the transformation of small spaces into profitable rental accommodation.
How do I start my renovation project with Terreta Spain?
Contact us for an initial discussion in English, French or Spanish. We'll visit the property, estimate the costs and offer you personalized support tailored to your investment strategy.
