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The neighborhood with the highest average annual income in Málaga capital is found right in the city center, it is the richest neighborhood in Andalusia. With an average annual income exceeding €58,900, according to data from the Tax Agency, the area of Malagueta-Monte Sancha. This area, located between the streets Paseo de Calvo Sotelo, Paseo de Salvador Rueda, Monte Sancha, and Camino del Monte, is the richest area of the city that saw Picasso born.
According to the latest publication from the Tax Agency 'Statistics of the taxpayers of the Personal Income Tax of the largest municipalities by postal code', the wealth of this neighborhood increased by more than 10% in 2022, compared to the previous year.
The province of Málaga with a population of 1,752,728 inhabitants, according to the National Institute of Statistics (2023), ranks as the fifth most populated province in Spain, surpassed only by Madrid, Barcelona, Sevilla, and Valencia. The average net income per inhabitant in the province of Málaga is close to 22,636 euros.
This demographic increase can be attributed to its attractive job market in technology jobs. Additionally, the province has excellent services and infrastructure with an airport that received more than 22.3 million passengers in 2023 and connects with over 265 routes, both national and international.
The importance of the Malagueta-Monte Sancha neighborhood is reflected not only in its average annual income of 58,960 euros but also in the cost of housing. According to data from April from the Idealista portal, the square meter here reaches 3,648 euros, which places the price of an 80 m² home above 290,000 euros.
According to the latest reports on market trends and year-on-year sales prices, the square meter in this neighborhood belonging to the city center is above 6,500 euros, even surpassing the historic center of the city. In comparison, the average price per square meter in the rest of Málaga remains at 3,900 euros. The appeal of the neighborhood increases due to its proximity to iconic places such as La Malagueta Beach, the bullring, and a wide range of luxury restaurants and hotels, including the Gran Miramar.
To the east, Monte Sancha offers stunning views of the bay of Málaga where we can find homes of 50 square meters starting from 350,000 euros, establishing itself as an exclusive area close to the sea in the city of Málaga.
Nagüeles leads in Marbella
Marbella stands out as the other municipality in the province analyzed in this study, presenting a gross per capita income of €31,614 per year, surpassing that of the capital, Málaga. The wealthiest district of the Marbella city is located between Nagüeles, La Carolina, and El Vicario (29602), with an annual income of €42,136.
The richest neighborhoods in Spain
In 2022, the neighborhood of La Moraleja in Alcobendas (Madrid), Vallvidrera-Tibidabo i Les Planes in Barcelona, Aravaca in Madrid, and Somosaguas-Humera in Pozuelo de Alarcón stood out as the areas with the highest average gross incomes in Spain.
Specifically, La Moraleja, located in Alcobendas, tops the list with a gross income of 197,220 euros, reflecting an increase of 3.3% compared to the previous year. Vallvidrera-Tibidabo i Les Planes occupies the second position, rising from sixth place thanks to an increase of 12.9%. Additionally, other areas with average gross incomes above 100,000 euros stand out, such as Aravaca in Madrid, with 102,537 euros; Somosaguas-Humera in Pozuelo de Alarcón, with 101,205 euros; and Salamanca-Goya in Madrid, with 100,016 euros.
