The housing market on the Costa del Sol  is already “in clear recovery”

The valuation company Tinsa has reported again that the Costa del Sol between coastal areas is showing the strongest growth in in the Spanish the housing market, which translates into a sustained increase in purchases and prices and in the increase of projects for new construction. The report “Housing in Costa 2018”, was presented this Thursday in Malaga and made used data from all the Spanish coast (in which the weight of holiday homes is very significant), places the entire coast of the province between the fringes in “Clear recovery”, along with some stretches of Alicante, Barcelona and Cádiz. The area between Marbella and Manilva was the first to be reactivated some three years ago, followed by the one between Torremolinos and Mijas and continued last year in the Axarquía.

The enormous activity of the Malaga coast in the whole country is reflected in the fact that three locations are placed between the five of the Spanish coast (excluding those that are provincial capitals) with the highest number of home purchases and sales in 2017. In particular, Marbella is the third of the ranking with 4,285 operations in 2017 after Torrevieja (Alicante), leader with 5,084, and Alicante’s Orihuela (4,297). Mijas is the fourth with 2,907 and Estepona the fifth (2,681). Benalmádena, sixth, registers 2,145 purchases. The average term of the commercialization of the houses that are currently on sale is seven and a half months, a period shorter than that registered in previous years. The foreign buyer has a weight of 33.5% in the total of operations, with British, German and Scandinavian among the main customers. The percentage is lower than the previous year (37%), which reflects a greater activity of the national buyer.

All the municipalities of the Costa del Sol analyzed in the report recorded increases in average price above 4% between the first quarter of 2017 and 2018, with the exception of Marbella, which has remained stable in this period (-0, 2%). Among the 15 localities in Andalusia with the highest price increase, there are six malagueñas. The greatest evolution in the interannual rate in the Andalusian region corresponds to the Huelva municipalities of Cartaya (+ 17.1%) and Almonte (+ 15.2%), followed by Mijas (+ 13.4%), Fuengirola (+11, 9%), Torremolinos (+ 10.9%), Punta Umbría (+ 9.7%), Nerja (+ 9.3%) and Vélez Málaga (9.3%). In Rincón the rise is 9.1% and in Benalmádena 7.1%.

For this report, Tinsa has studied about 90 marketing promotions along the entire coast of Malaga. If in previous years, the promotions for sale were small (20-25 units), the promoters are already taking out larger ones, of around a hundred homes. “The phase of uncertainty has passed, the sector has verified that there is demand and that it is sold for sale”, explained the technical coordinator.

 

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