Figures published this week by the National Statistics
Institute (INE) confirm that property sales in Málaga province have shown a
slight increase compared with the same month last year, with 1,796
transactions. Experts have noted that this figure is the best since the
so-called economic crisis began, stating that it is necessary to revert to 2007
in order to find better results.
These encouraging sales mean that Málaga is one of ten
provinces in Spain that have managed to extract themselves from the more
negative trend visible in other parts of the country. Compared with October’s
figures, November resulted in 55 per cent more property sales, a result that
will give heart to property professionals and investors looking for evidence
that the market in Málaga is beginning to pick up again.
National figures showed a decrease of 14.4 per cent, with
27,549 sales although this fall in transactions is less dramatic than August’s
figures, which were down by 38 per cent on August 2010.
Taken month by month, the situation in Málaga is even more
impressive, since sales increased by a massive 55 per cent from October to
November. One of the very welcome results of this impressive revival in the
property market’s fortunes has resulted in the Association of Builders and
Developers (ACP) recently disclosing that the number of unsold new properties
was almost halved during 2011.
Michael Liggan of Altavista Property Spain says: “This
really just reflects what we’ve noticed ourselves. There has never been a lack
of serious investors, since they have always realised that the property on the
Costa del Sol represents good value for money, but now we are seeing the return
of families. Despite the ridiculous reports in the UK media about expats having
to be rescued from Spain in a Dunkirk-style evacuation, the truth is that at
the moment there are more Brits than ever making the decision to leave Britain and
settle in Spain.”
“Having made that momentous decision it makes sense for them to relocate to an area that has plenty to offer in the way of expat support networks and nowhere offers this in the same quantity and quality as the Costa del Sol. We’re already looking forward to a year of growth in 2012 as the Málaga property market shows a further recovery.”