The housing market in Malaga continues to stay strong
Remarkable strength of the market
The Association of Registrars points out in its report that the housing market, despite the complicated macroeconomic scenario, continues to show "remarkable strength", registering very outstanding activity figures, in many cases in maximums of the last years..
The highest growth rates in purchase and sale operations in this 2022 have been registered in the provinces of Alicante, the Balearic Islands, Malaga, Las Palmas and Tenerife, all of them with a profile of high tourist intensity and a high weight of second homes, a segment of the market especially favorable in its behavior, partially due to foreign demand.
After the first three quarters of 2022, Malaga is the fourth province that sells the most properties in Spain.Malaga's position among the most active real estate markets in the country is, moreover, sustained over time: in the last twelve months a total of 41,898 homes have been sold (9,427 of them new), with an increase of almost 40% over the preceding period, which continues to place it in the same qualifying positions mentioned above.
Foreign customers purchase over a third
The purchase of homes by foreigners, which have been below normal due to the pandemic, are beginning to move at more normal rates.
In Malaga, 34% of sales in the third quarter of this year have been made by foreigners, improving an index that had fallen to around 25%. Only Alicante (42.8%) and Tenerife (40.6%) are ahead, leaving the Balearic Islands (31.4%) and Girona (28.1%) as immediate followers. The national average is 15.9%. The foreign demand for housing is registering the highest level in recent years.
The results by nationality are led by the British (9.3%), followed by Germans (8%), French (6.2%), Romanian (4.5%), Belgians (4.2%), Dutch (4.1%), %) and Moroccans (4%).
credit: La Opinión de Málaga