70% of Homes sold in Malaga Between January and July Sold to Foreign Buyers

 70% of Homes sold in Malaga Between January and July Sold to Foreign Buyers

Costa del Sol will always be in demand due to

location, lifestyle and the weather

People have known for a long time that the Costa del Sol has always been the main interest for foreign homebuyers and tourists looking at Spain. It’s the home of golden beaches, various resorts that fit all budgets and tastes, and the best and most affordable homes across Spain. Overall the Costa del Sol stands above, and beats out, the competition.

The providence of Malaga encompasses some of the biggest regions in Spain including the Costa del Sol, Nerja, Marbella, Estepona, and Malaga itself – which stands as a beautiful atmospheric city filled with culture and ancient wonder. There are also inland areas to Malaga so it’s no wonder that foreigners are always looking towards it.

Data released this week shows just how popular the property markets in Malaga truly are. The Notarie’s Assocation of Spain say that 70% of all the homes bought in Malaga between January and July were sold to foreign buyers.

To put it into actual numbers this accounts for 4,978 property transactions by non-Spaniards; an increase of 16.9% over the same time period in 2015. Across the whole of Andalucía, which includes Seville, Cádiz, Seville, and other provinces, there was an increase of 18.9% in foreign buyers in 12 months.

When taking domestic buyers into account there was a 10.1% increase in overall property sales in Andalucía between January and July compared to 2015. House prices were on the rise as well; an increase of 2.6% which is double the 1.3% national average.

Brits were responsible for a quarter all of the homes sold to foreign buyers in the Costa del Sol, further showcasing the love affair that Brits have with the Costa del Sol and Spain as a whole.