looking to buy a home?
Submit this Form and Benefit from our 25 Years' Experience & Strong Local Network.The latest figures for sales of Costa del Sol property provide yet more confirmation of the busy market.
The first four months of this year registered the highest number of transactions since 2007 and sales averaged 181 properties a day between January and April.
Furthermore, the provincial property market continues to be the fourth busiest in Spain for all sales and the third in ranking for new builds.
Within the region of Andalusia, Malaga stands out as by far the most active market.
118 property transactions a day
As our recent blog posts show, the real estate market on the Costa del Sol has been red hot so far this year.
Not only were 20% of properties changing hands in less than a week, but we wondered if there would be enough new builds to go round.
Data published by the Spanish Institute of Statistics (INE) in mid-June confirms that the market is on fire.
According to the figures, property sales on the Costa del Sol totalled 14,191 between January and April this year.
Regarding averages, there were 118 property transactions a day during the first four months of 2022. This figure far exceeded the 91 daily sales in 2021.
Moreover, the over 14,000 sales represent the highest for any four-month period since 2007. In that year, around 15,000 properties changed hands between January and April.
Big increase on 2019
It goes without saying that this year’s figures will exceed those for 2020 and 2021, both years hard hit by travel restrictions.
But it’s perhaps surprising how active the market is now compared to 2019, the last ‘normal’ year for sales of Costa del Sol property.
Between January and April 2019, there were 10,639 real estate transactions. Sales for the same period this year are 33.4% higher.
Fourth highest in the country
According to the INE statistics, Costa del Sol registered the fourth-highest number of sales in Spain so far this year.
Topping the table was Madrid with 28,738 transactions, followed by Barcelona with 21,782. Alicante and Costa Blanca, in third place, registered slightly more than Malaga (15,097).
New-build sales strong
However, Costa del Sol rises to third place on the national table when it comes to new properties.
Between January and April, 3,355 new builds changed hands in the province, the third-highest figure ever.
Only Madrid and Barcelona registered more sales. April was a particularly hectic month on the Costa del Sol with 700 sales of new-build properties. The figure translates to a 48% increase in the same month last year.
Costa del Sol dominates Andalusian market
In regional terms, Malaga province stands out among all of the eight. This is because its real estate transactions were considerably higher than any of the other provinces.
For example, Seville was the second province in the table for property sales with almost 8,000 transactions. However, this figure is 77.4% below those registered in Malaga.
What does this mean for you?
Obviously, busy sales of Costa del Sol property mean there’s less choice on the market if you’re looking to buy. And it probably also means that if you find a home that suits you, you’d better act quickly.
But, at Realista, we suggest prudence in any transaction. Purchasing a property is a major investment and not one you should rush into.
Therefore, we advise you to contact our team who will source homes on the Costa del Sol to suit your requirements.
Our insider knowledge and long track record mean we’ll be able to find what you’re looking for, whatever the market temperature!
