Completed house sales in Malaga Province rose by nearly 12% in the first six months of the year, confirming that a recovery of Andalucía’s housing market has finally taken place. With 13,519 completed home sale transactions, Malaga province managed to come in at a respectable fourth position after Madrid, Barcelona and Alicante.
For people hoping to secure their place in the sun in resorts like Marbella, Estepona, Benahavis, Mijas, Torremolinos or the city of Malaga itself, now is the time to start house-hunting, for prices are steadily rising.
Data published by Spain’s National Statistics Bureau (INE) shows that Malaga had twice the amount of sales activity than Seville, which was the next property hot spot in the region. Resales homes led with 80% of properties sold being second-hand, although for various official purposes this figure includes new-built bank repossessions, taken on after developers went bankrupt.
INE, the Instituto Nacional de Estadística, also confirmed an upwards trend for house sales on national level. Until the end of June 2016, 16.4% more residential homes were sold than in the same six month period in 2015. Manual Gandarias, speaking on behalf of property website Pisos.com said that Spain’s real estate sector is undergoing a definite recovery, despite short-term political uncertainty.
“Second hand housing is selling well, and new home sales, although much less, are starting to pick up again”, he explained, adding that large percentage point increases were only to be expected, since sales had decreased so much in the years following the world-wide financial crisis and Spain’s property market collapse.
Andalucía’s limitless Attractions are to blame
It’s easy to see why Malaga Province attracts so many foreign buyers. By choosing a location like Marbella, Fuengirola, Mijas, Torremolinos or the city of Malaga, holiday home buyers and retirees purchasing a permanent home can look forward to an almost limitless number of tourist attractions.
House buyers looking for a picturesque resort with a cosmopolitan feel but close proximity to night life and shopping should start their house-hunt in the coastal town of Nerja, set against the dramatic backdrop of the Sierra de Tejeda.
Nerja is located 52km from the city of Malaga and boasts a series of lovely coves and interesting caves; nearby at Maro, just a 3km-drive from Nerja, there’s an imposing 4-tier, 19-century aqueduct that transports water from a local spring to the San Joaquin sugar factory and provides local watercolour artists with plenty of creative inspiration.
Heading west of Marbella families can enjoy the attractions of San Pedro de Alcátara, with its newly created leisure facilities in the town centre. San Pedro now boasts an ice rink, tennis courts, lovely green spaces and parkland, retro food stalls and street entertainments all year round.
Families with children are indeed spoiled for choice when they buy a holiday home in or near Marbella: amusement parks like Selwo Aventura in nearby Estepona is a safari park with some 2,000 mammals from every continent, where families can go on safari tour and see lions, monkeys, giraffes and elephants from the safety of their four-wheel truck.
At Benahavis, located just 10-km inland from Marbella, golfers can play to their hearts content, while hikers and bikers will appreciate the Refugio de Juanar. Located some 19km distance from Marbella, the nature reserve is easily accessible via the scenic N340 coastal road and C337 route, which winds through fir-and eucalyptus tree covered hills, before reaching the Sierra Bermeja, a half-day car drive from Marbella.
At Mijas, a charming mountain village some 8km-drive above Fuengirola, the air is a little cooler than at the coast. Marketing itself as a traditional pueblo blanco, Mijas has long been a property hot spot with foreign buyers, but has managed to retain plenty of original charm despite modern housing development. Its winding, narrow streets are still lined with white-washed houses boasting traditional green timber shutters. Nearby Parque Acuático Mijas, which sits along the A7 road, is a great favourite with families, as it boasts many water-based slides and amusements. The famous Hipódromo racetrack offers horse enthusiasts plenty of excitements too, such as the El Cartujano Andaluz horse show for example.
Back in Marbella, buying a holiday or permanent home means rubbing shoulders with celebrities like local boy Antonio Banderas, who recently hosted the charity auction at the annual Starlite event.
What more could one possibly say to recommend the Costa del Sol as THE place in the sun in Europe? With 300+ days of sunshine and a busy cultural calendar that includes Marbella International Film Festival and various world-class music events, food festivals, fine art exhibitions and fashion shows, Malaga province has it all and more!