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There’s no doubt that 2021 was one hectic year for the Costa del Sol property market. Like other estate agents, we certainly noticed it and yet more statistics have just confirmed it. According to the latest figures from the Spanish Institute of Statistics (INE), there were 91 sales of properties on the Costa del Sol every day last year.
Pent-up demand boosts sales
Given the tight travel restrictions in place during most of 2020 and part of 2021, it’s no surprise to find that sales soared during the latter part of last year. Pent-up demand from both foreign buyers and Spanish clients meant that 33,278 properties on the Costa del Sol exchanged hands.
The figure represents an extraordinary hike in 2020 – according to INE, it’s the equivalent of a 43% increase, almost double. But more significantly, it’s also 11.4% more than in 2019, before the pandemic.
Fifth highest sales in Spain
The Costa del Sol stood in the fifth position for most sales last year in terms of national rankings. Leading the table were Madrid and Barcelona with Alicante (Costa Blanca) and Valencia in third and fourth places, respectively.
New-build homes lead the market
However, the Costa del Sol performed better nationally for new-build sales. They totalled 8,729 units last year and ranked third in Spain, behind just Madrid and Barcelona.
New developments on the Costa del Sol led the market consistently last year. For example, sales were 51% higher than 2020 and 56.7% more than in 2019.
December sees second-highest sales in Spain
The last month of 2021 was one of the busiest all year on the Costa del Sol when 3,438 properties changed hands. This was the second-highest figure in the country and ahead of sales in Barcelona and on Costa Blanca. Madrid saw the highest sales.
New builds had a particularly busy month. 906 units were sold in December, over 10% of the annual total.
Leader in Andalusia
The buoyant sales of properties on the Costa del Sol last year meant it ranked as the best performer in the region. Transactions in Malaga province accounted for nearly 28% of the total sales in Andalusia. Seville was in second place with 22,572 sales, of which 4,194 units were new builds.
Good year for property in Spain
2021 will go down on record as one of the busiest years for Spanish property generally. INE reports that sales rose by 34.6% for the country as a whole.
In regional terms, Andalusia ranked second in the table with an increase of 32.3%, the second-highest in Spain.
The best properties on the Costa del Sol
We’re predicting another busy year for the local property market, where supply is dwindling slightly as a result. However, we have access to the best properties on the western Costa del Sol, including some stunning new developments.
If you’re planning to buy in 2022, get in touch with our expert team, who will be more than happy to help you find your new home.