News

Check out market updates

Foreign buyers bought 70% of all homes in Malaga province between January-July

Foreign buyers bought 70% of all homes in Malaga province between January-July

The beauty of Malaga and its surroundings is not lost on foreign visitors.

The beauty of Málaga and its surroundings is not lost on foreign visitors.

It has long been known that the Costa del Sol is among Spain’s most popular haunts for foreign tourists and homebuyers. Boasting golden sandy beaches, a varied selection of resorts to suit all tastes and budgets, and some of the finest and most affordable homes in the country, this sunny region can mix it with – and usually beat – the best…

Home to the Costa del Sol, with Nerja, Benalmádena, Marbella, Fuengirola and Estepona just a few of the resorts falling under its jurisdiction,  in addition to obviously encompassing Málaga itself – a gloriously cultural, ancient, and atmospheric city – the province of Málaga also covers inland areas too, and it is little wonder that the region is a real head turner for foreigners.

And data released this week has revealed just how popular the various property markets of Málaga province really are. According to Spain’s Notaries’ Association, foreigners accounted for 70% of all homes bought in the province between January and July of this year.

In actual figures that is 4,978 transactions made by non-Spaniards, which is a 16.9% increase on the same period last year. Across Andalucía as a whole – a wider autonomous region that takes in Seville, Granada and Cádiz among other provinces – the number of foreign buyers rose by 18.9% in the space of a year.

Taken as a whole, Andalusian property sales – to both foreigners and Spaniards – increased 10.1% during that Jan-July period when compared to 2015, with house prices increasing by a healthy 2.6%, which is above the national average of 1.3%.

As previously reported, Brits accounted for one in four of all homes sold to non-Spaniards, which further cements their love affair with the Costa del Sol, Andalucía, and Spain in general.

Comments are closed.