Demand for property up 25 per cent in Málaga Province
It has often been said that although
Marbella was one of the first provinces in Spain to enter the crisis, it would also be one of the first to leave it. One of the biggest factors behind this rationale is, of course, the millions of tourists that come to the
Costa del Sol each year.
Marbella offers a wonderful environment in what is arguably the best climate in Europe, so it’s no surprise that new figures released this month show that in the third quarter of this year, Málaga outperformed the rest of Spain in terms of being the province with the biggest growth in property sales.
According to the Ministry of Public Works, our sun-drenched region is up 25 per cent compared to this time last year – bringing the total number of properties that changed hands to a healthy 5,059. Although it’s still early days, this is seen as a positive trend by the property sector buoyed by the upswing. The figures from the government department also revealed that the increase is being led by non-resident foreigners from northern Europe, something that is backed up by Alberto García, the president of the Association of Estate Agencies in Málaga.
Speaking in SUR in English this month, Alberto claimed that foreign demand is having a decisive effect on reducing the stock of new and unsold properties. “Recently we have been seeing more French and Belgian clients, as well as the traditional British and German purchasers,” he told the newspaper. This positive news comes just two weeks after it was reported that property sales in the province as a whole had risen for the first time since the beginning of the crisis following the lead of
Marbella, where growth resumed in 2012.
So all eyes are now on this sun drenched province, to see if these green shoots of recovery continue to grow in the final quarter, and indeed, in 2014.
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It has often been said that although Marbella was one of the first provinces in Spain to enter the crisis, it would also be one of the first to leave it. One of the biggest factors behind this rationale is, of course, the millions of tourists that come to the Costa del Sol each year. Marbella offers a wonderful environment in what is arguably the best climate in Europe, so it’s no surprise that new figures released this month show that in the third quarter of this year, Málaga outperformed the rest of Spain in terms of being the province with the biggest growth in property sales.
According to the Ministry of Public Works, our sun-drenched region is up 25 per cent compared to this time last year – bringing the total number of properties that changed hands to a healthy 5,059. Although it’s still early days, this is seen as a positive trend by the property sector buoyed by the upswing. The figures from the government department also revealed that the increase is being led by non-resident foreigners from northern Europe, something that is backed up by Alberto García, the president of the Association of Estate Agencies in Málaga.
Speaking in SUR in English this month, Alberto claimed that foreign demand is having a decisive effect on reducing the stock of new and unsold properties. “Recently we have been seeing more French and Belgian clients, as well as the traditional British and German purchasers,” he told the newspaper. This positive news comes just two weeks after it was reported that property sales in the province as a whole had risen for the first time since the beginning of the crisis following the lead of Marbella, where growth resumed in 2012.
So all eyes are now on this sun drenched province, to see if these green shoots of recovery continue to grow in the final quarter, and indeed, in 2014.