InterNations, the largest expat community in the world, has just published the ranking of the 49 best cities to live in 2023, according to the opinion of more than 12,000 expats of 177 different nationalities residing outside their countries.
The best-rated city in the world has been Malaga. And the truth is that no one is surprised by the data, since this is not the only ranking that points to Malaga as the preferred destination for foreigners and digital nomads to live and work.
This is how the study was carried out. To carry out the survey, participants were asked to evaluate up to 56 different factors belonging to five large thematic indices: quality of life, ease of settling in, work, personal finances and other aspects that they considered essential. Finally, they were asked one last question: “All things considered, how happy are you with your life abroad?” All responses were averaged to establish the overall ranking of the best cities for expats.
Finding a house in Malaga is easy and cheap, according to the opinion of expats
If we independently analyze the five thematic indices mentioned above, we see that the city of Malaga is very well positioned in each of the individual rankings:
- Quality of life. For expats, Malaga ranks second in quality of life, behind Valencia. Among the many parameters, respondents highlight above all its climate, natural environment and air quality. Furthermore, almost 100% believe that it is easy and safe to get around the city on foot or by bicycle.
The leisure offer is also valued very positively: nine out of 10 respondents love the opportunities that the city offers to practice sports, cultural options, nightlife and gastronomic options. Healthcare is another strong point of Malaga, and four out of five are satisfied with the quality of medical care.
- Ease of installation. It is remarkably easy for expats residing in Malaga to settle into the city, thanks to the exceptional local friendliness and a culture that is easy to get used to. These data place Malaga at the head of this ranking.
3 and 4. Work and personal finances. When it comes to working, expats consider Amsterdam, Ras Al Khaimah and Copenhagen to be the three cities that offer the best career prospects. In this case, Málaga is relegated to 13th place in the table.
However, when it comes to personal finances, expats consider Malaga to be the best city in the world in terms of cost of living. And although income is slightly below the world average, eight in 10 believe their personal finances are sufficient or more than enough to live a comfortable life in this city.
- Other essential aspects for expatriates. In this ranking, aspects related to the facilities offered by the city to start a new life have been assessed, from bureaucratic aspects to housing and language. Overall, the city of Malaga occupies seventh place (behind Ras Al Khaimah, Muscat, Abu Dhabi, Dubai, Kuala Lumpur and Tallinn), and sixth in terms of housing.
For expats residing in Malaga, it is not only easy to find a home but they also find it to be quite affordable. In fact, as we highlighted above, the city seems to be a good destination for expats on a limited budget.
The B side of being the “fashionable city” to live and work
InterNations is not the only ranking that points to Malaga as the best destination to live.
According to research by Savills Plc published by Bloomberg, the capital of the Costa del Sol would occupy second place in the world ranking of cities preferred by digital nomads, behind Dubai and ahead of other Spanish cities such as Barcelona and Palma de Mallorca . Likewise, another recent study published by Forbes also selected Malaga as the best ‘alternative capital’ in the world.
There are several factors that in recent years have turned Malaga into the fashionable city. On the one hand, the pandemic brought with it a new way of working, and many technology executives combine their in-person activity with remote work. This allows them to ‘escape’ from big cities and look for second homes in destinations with a better climate and higher quality of life.
On the other hand, for years Malaga has been betting on technology and large companies, such as Google, which has just opened its first center specialized in cybersecurity in Europe in the city.
Now, what may seem like great news at first glance also hides a negative side that we should not underestimate. And this new immigration model, together with the “call effect” is causing the price of housing to increase significantly, making it difficult for local residents to live in their own city.
In this article from El Confidencial we read that the price of housing in Malaga has risen 21.4% compared to last year, 33% compared to 2018 and almost double that of 10 years ago.
The problem is that salaries do not rise in the same way and when the average income per person is compared with the average rental price, the accounts do not add up. According to the study “Relation of salaries and rental housing in 2022”, the inhabitants of Malaga allocate more than 50% of their salary to rent, a figure only surpassed in the cities of Madrid, Barcelona and Guipúzcoa.
The fate that Malaga is facing has also been suffered by other Spanish cities such as Barcelona or Palma de Mallorca. In the case of the latter, the price of housing has increased by 26%, the most expensive in its entire history. Outside our borders, Mexico, Lisbon or Athens are other examples of how a fashionable city can end up becoming inaccessible to its own inhabitants.