Malaga property prices set to rise again in 2018

Malaga property prices set to rise again in 2018

Malaga property prices set to rise again in 2018

For Brits who’re still determined to emigrate to Spain despite the threat of Brexit, now’s the time to buy a Costa del Sol property.

If Spain’s Costa del Sol is still the destination of choice and you’re chancing that Brexit won’t force you back to the UK just after you’ve arrived, you should be aware that Malaga’s real estate sector has now almost recovered from its post-2008 doldrums. If you’re looking to buy a home, now’s the time before prices rise still further, although bargains can still be had along the eastern Mediterranean coastline.

In 2007, the region logged 30,300 property sales, an increase of 14.6 per cent over 2016’s totals and the second highest sales total per inhabitant across the entire country. Foreign buyers were responsible for almost 30 per cent of the sales, confirming Malaga’s lasting popularity with British expats. Admittedly, Girona, Alicante and Tenerife’s foreign sales figures were higher, but the Costa del Sol is still one of the most popular expat destinations in the whole of Europe.

Obviously, foreign buyers are an important part of Spain’s real estate market and are still key players as regards second homes or buy to let villas as well as permanent homes. The majority of sales were of second-hand properties, mainly because Malaga is short of new-build estates with the exception of the capital and the Western side of the region. New developments begun in 2014 haven’t yet reached the market, but new projects are making it onto drawing boards across the region.

If you’re bargain-hunting and can live without a beach crowded with hordes of British tourists, Malaga’s interior is the place to start your search. Property prices as a whole are slated to increase this year by about six per cent, making buying a Malaga home a good investment provided you’ve chosen the right area. The rules are the same the world over – location, location, location!

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