El Palo extends the eastern beachfront beyond Pedregalejo — same espeto culture, same walkable promenade, but more residential and quieter than the central neighbourhoods. The honest framing is that El Palo offers genuine value for owners willing to invest in renovation: many older units remain unmodernised, and the upside per refurbished apartment is real. Moratorium dynamics still apply for new licences — existing licences are the path forward inside Málaga municipality. New-build pockets to the east (toward Rincón de la Victoria) fall outside the moratorium.
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