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Southern spain continues to be the best place to buy property
in spain
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The latest report from the BBVA Bank, called Situación
Inmobiliaria España (‘Spain Real Estate Outlook’) has named Malaga – the home
of the Costa del Sol – as the province with the most homes sold in Spain.
Demand for homes in the region have increased around 15% between 2014 and 2016.
The study was presented in the Costa del Sol capital by
analysts from BBVA Félix Lores and David Cortés. It also shows other positive
facts about the real estate sector of Spain and how healthy it is.
The authors of the study pointed out that, between 2014 and
2016, Malaga property prices rose by 3.1% - which is three times the national
average. This puts the province into third position in Spain. The only regions
that came in front of it were the Balearics and Barcelona, where prices
increased 3.5% and 3.3% respectively. This kind of positive change wasn’t seen
in every region in Spain, as prices in Seville dropped 1.6% during this period.
The study showed new house project building licenses in
Malaga increased by 55%. This puts the province – along with Barcelona,
Alicante, and Madrd – ahead of the pack. The study did admit that numbers
aren’t close to the peak levels before the financial crisis of 2007, even if
they are recovering nicely.
Lores said that sales picked up since 2013 with Barcelona,
Madrid, and the rest of the Mediterranean arc and islands enjoying the most
recovery in Spain. The findings of Lores are in line with the findings of real
estate experts, in that he agrees the growth in Spain is driven by an increase in buyers from overseas, along with better employment rates and higher levels
of disposable income in Spain.
