Malaga is one of the five provinces in Spain with the biggest price change of Second Hand properties on the second quarter of 2018. The major touristic provinces of Spain are the ones suffering this increase the most. In Alicante or Madrid home resales have raised their prices in almost 10%, and in Malaga more than 4%.
More than 15 autonomous communities in Spain have increased their house prices, settling a 6.6% of inter-annual growth at a National level. The most affected areas are Madrid, Málaga or Barcelona mainly for their tourism, investment and holiday demand that surpass the Spanish average.
For the past two years, prices have been raising and the Spanish real estate market has recovered its activity. This is mainly caused for the improvement of the economic situation globally and namely in the European Union, and the current low rates in mortgages and loans.
As more and more sales are carried out each day, the offer of second hand homes (and brand-new residences) is diminishing, while the demand stays steady and even increasing. In consequence prices are going high and less options to buy are available.
As one of the best real estate companies in Marbella and Costa del Sol, Andalucia Realty has access to all data of the market. Therefore, we can advise our clients that this trend is likely to continue and buying a house in Marbella or Costa del Sol in the coming years is going to be more expensive. The time to buy is now!