By Alex Glenn • 17 May 2021 • 12:01
House Sales in Malaga Reach Pre Pandemic Levels Credit: Pixabay
House Sales in Malaga Reach Pre Pandemic Levels.
House sales in Malaga on the Costa del Sol are said to have reached pre-pandemic levels. This is good news for the Spanish economy after the market was severely hit by the ongoing coronavirus pandemic and mobility restrictions during the state of alarm.
Property sales in Malaga have returned to their pre-pandemic levels and sales are currently hitting around 2,400 sales each month. According to the latest data published by the National Statistics Institute (INE), 2021 has seen over 7000 houses sold in the province until March. This is a four per cent increase on what was seen in the same period last year.
March figures last year were affected by the global pandemic though as the Spanish state of alarm and population confinement had already begun. Over 30 percent of sales correspond to new builds while 70 per cent of transactions come from “second-hand” homes.
The number of new build houses being sold is up on previous years, where they represented around 15 to 20 per cent of transactions as reported La Opinion De Malaga.
The Director of Studies and spokeswoman for Fotocasa, María Matos, spoke of increasing sales and explained that, “After a year of health crisis, not only is the barrier of 40,000 transactions closed for the second consecutive month exceeded, but we are getting very close to 50,000 sales and purchases.” Fotocasa is one of the main real estate portals in Spain.
The spokesman for Pisos.com, Ferran Font, agreed that the market has recovered and said that, “After the trend of recovery from the impact of Covid-19 started in June 2020, the March sales and purchases are the highest figure since May 2019 and the highest March figure since 2007.”
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Originally from the UK, Alex is based in Almeria and is a web reporter for The Euro Weekly News covering international and Spanish national news.
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