By Tony Winterburn • 27 March 2021 • 7:43
Housing Prices Continue To Rise In Spains' Malaga Despite The Crisis Generated By The Pandemic. image: Shutterstock
Housing Prices Continue To Rise In Spains’ Malaga Despite The Crisis Generated By The Pandemic.
The average price for a house in Malaga has continued to rise across the board in the province of Malaga and across the capital during the last twelve months. This is despite the economic impact generated by the pandemic- although some areas of the city such as the Historic Center and certain Tourist enclaves spread across the Costa del Sol do reflect certain decreases that it is thought relate to the impact that mobility restrictions may have on demand.
The latest report from the Urban Environment Observatory (OMAU), shows that the price of housing has risen 4.1% in the province and 7.8% in the case of the capital in the first quarter of 2021, and have reached respective values of €2,968 and €3,222 per square meter.
“It can be said that the new-build real estate market in Malaga has withstood the onslaught of the pandemic and the economic crisis reasonably well,” explained a spokesman for Malaga City Council, recalling that in other areas of Spain have registered record falls in the same time. The study was carried out from visits and surveys to marketing promotions.
In Puerto de la Torre, prices have also increased significantly (12.4%, to €2,420) as a result of the developments that adjoin Teatinos, as well as in the supply of single-family homes, that same rise is repeated, although at a lower level, in Churriana.
The most expensive houses in the capital continue to be on the east coast, with average prices of €4,775 euros per meter- which show an increase of 3.4% in the last twelve months.
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