Province of Málaga property market on the up

Posted on 11 October 2017

Following decades in the shadow of other supposedly more hip Spanish cities like Barcelona and Valencia, Málaga is finally having its time in the sun. With over 30 museums to choose from, an ever expanding urban art scene, exciting contemporary dining options, shiny new metro system and the best high-end shopping street in the land, it’s clearly a city on the up. Venture outside the capital of this eponymous province and you will discover this section of Spain’s southern coast offers everything from the razzle dazzle streets of Marbella to the traditional Spanish “white village” charm of Mijas.

Puerto Banus in Marbella, Costa del Sol.

Throw the breath-taking mountains of La Axarquía and some of the country’s best beaches into the mix, and it’s easy to see why the local property market is enjoying a boom. In terms of property sales per thousand inhabitants, the Province of Málaga sits second in the national rankings with 17.16, a figure only surpassed by Alicante (17.37).

With 28,271 recorded property sales between June 2016 and June 2017, the province is well and truly at the forefront of the Spanish property markets resurgence in recent months – resales accounted for 81.5% of this figure and new builds the remaining 18.5%. That’s a 9.25% increase in sales compared to the previous 12-month period according to data from the Registrar’s Association.  Only Madrid (63,037), Barcelona (51,010) and Alicante (32,068) recorded more transactions.

These encouraging figures are largely supported by the consistently high level of demand from overseas buyers who continue to holiday on the Costa del Sol and refuse to be put off by the Brexit negotiations. The stretch of coast between Marbella and Manilva has been experiencing a steady revival for some time and is now confirming signs of further improvement, as is the area between Torremolinos and Mijas.

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