By Eleisha Kennedy •
Published: 13 Jul 2020 • 19:42
Property sales in the province of Malaga on the Costa Del Sol have fallen almost 58% in the midst of the coronavirus pandemic. CREDIT: Twitter
The effects of the coronavirus pandemic are being felt throughout Malaga’s real estate industry as property sales continue to fall.
Data from the National Institute of Statistics (INE) shows a drop of almost 58% in sales for the month of May, in comparison with the same month last year. This May, 1.160 apartments were sold, as opposed to 2.753 in May of 2019, which translates as 51 properties less sold per day for the month of May than the previous year.
Malaga is still quite high up in the nationwide rankings, sitting in fifth place behind Madrid, Barcelona, Alicante, and Valencia as the province with the most property sales. For some of these communities, the fall in sales is even sharper than the Andalusian region, 59,4% in Valencia, and 65,6% in Alicante.
Looking at the figures for the year so far, the results aren’t much better. Between January and May of 2020, 9.420 properties were sold in Malaga, which is 29,6% less than the period for the previous year.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our
Share your story with us by emailing firstname.lastname@example.org, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
Download our media pack in either English or Spanish.