Up to September, almost 26,000 operations are signed, the fourth highest volume in the country, after Madrid, Barcelona and Alicante
The capital and Marbella combine a third of sales The Spanish property market continues to set a pace of acceleration in 2018 and Malaga , as usual, is placed again among the areas of greatest activity . According to the latest data published by the Ministry of Development, in the first three quarters of the year have sold in Malaga a total of 25,945 homes , with an increase of 11.6% over the same period last year. The figure shows an average of 96 operations per day and is the highest since the crisis started in 2008. In 2007, the last year of the economic boom, the volume surpassed 30,722 sales until September.
By municipalities, Malaga capital and Marbella appear again as those who pull more sales. According to Fomento, 5,916 homes were sold in Malaga, with an increase of 14.7% over the previous year’s figures. In Marbella, the figure was 3,174 (1.1% more). In Mijas 2298 sold (with an increase of 12.8%) in Benalmádena 1,851 (+ 15.8%), in Torremolinos 1.492 (+ 14.9%) and Velez Malaga 1294 (+2,8,2 %), to name the enclaves with more operations. Only slight decreases are seen in Estepona (1,930, down 6%) and in Fuengirola (1,293, down 4.8% from the previous year)
The new rebound in the market maintains the characteristics of recent years. On the one hand, second-hand homes are the ones that monopolize the market, concentrating 90.6% of operations . And is that the supply of new product is still scarce, waiting for the incorporation of promotions already under construction or in project. Of course, the sale of new housing (1,960 operations in 2017) at least is rebounding, with a growth of 70% over the previous year.
The second factor is the importance of the foreign buyer . According to the data of Development, in the first three quarters there have been 8,219 operations by outsiders in Malaga (both residents and non-residents), which represents 25% of total sales . The province is one of the most active in this segment, although the percentage in previous years exceeded 30%, which reveals that the national buyer is already returning to the market.