Building goes up

Construction activity for the residential housing market has started 2024 showing “solid growth” in the province of Malaga during the first quarter, according to data published by the Malaga Association of Architects.

Between January and March a total of 2,074 homes have been registered, representing an increase of 22.5 per cent compared to the same period in 2023. The volume of new housing projects has now returned to pre-pandemic levels and is evidence of the current market momentum.

“It is important to highlight the notable increase we have observed in the number of homes approved during the period, comparable to that recorded in the years 2018-2019”, said the dean of the College of Architects of Malaga, Susana Gómez de Lara.

The municipalities with the most homes approved in the first quarter were Málaga city (397), Istán (213), Torremolinos (198), Mijas (140), Marbella (129), Fuengirola (93) and Manilva (92).

In relation to finished homes, statistics from the Architects’ Association indicate that 1,510 homes were completed in the first quarter of 2024, an increase of almost 40 per cent compared to the previous year, when 1,081 were completed.

The rest of the figures are made up with refurbishment projects although the dean said they cannot determine how many of the refurbishment projects will be destined for tourist apartments. “Often, this data is presented under the category of aparthotel or tourist apartment building in the hotel statistics, which makes it difficult to know the final destination of the refurbished units”.