Homes Sales to Foreign Buyers in Málaga at Highest Level Since 2007

Homes Sales to Foreign Buyers in Málaga at Highest Level Since 2007

Posted by on Oct 2, 2014 in News

Property on theCosta del Sol is regaining its popularity thanks to foreign demand. In the second quarter of the year, the number of home sales to foreigners in the province reached a level not seen since 2007, before the beginning of the crisis. A total of 2,499 real estate transactions were recorded in Málaga between April and June, where the buyer was a citizen of another country, which is an increase of 30% over the same period in 2013. This figure puts the Málaga province in second place in the national ranking behindAlicante, which registered 4,377 transactions.

Within Andalucía, Málaga registered three-quarters of all homes sold to foreign buyers in the second quarter, according to the latest data published by the Ministry of Development, and of all these foreign buyers, 89% were already living in Spain.

This increase in foreign demand explains why home sales in the province of Málaga have accelerated at a greater rate than the rest of the country. In the second quarter of this year 6,309 transactions were registered, which is 1,046 more than in the same period of 2013, or an increase of 20%. This is the highest figure for a second quarter since 2010. Foreign buyers represented 39% of the total.

Read More