Property sales costa del sol
Despite Brexit and travel restrictions, foreign investors and second-home buyers can’t get enough of the Costa del Sol. Sales figures have soared in the region, with new-build sales at their highest level for the quarter and the year. Indeed, the year 2022 may go down in the annals of the Spanish property market as one of its busiest ever.
The resale market is particularly active, with a surge in transactions that have accelerated since Q1 last year. According to the Registrars Association (Colegio de Registradores), 7,208 properties changed hands between January and March, representing a 14% rise on the previous quarter. The lion’s share of these transactions was made up of homes purchased by international buyers, who normally account for around 30% of the total.
Prices have risen too. While Spain publishes no official selling price statistics, a look at valuations and asking prices on online portals reveals that values are on the up.
The shortage of long-term rental property has been a major factor in the Costa del Sol’s healthy demand, with many landlords reporting that their properties are being snapped up within days of going on the market. This is even more remarkable given that the supply of apartments in major cities like Malaga fell by 15% during Q1 – one of the largest declines nationwide. property sales costa del sol