Property sales costa del sol
2022 will go down in the Spanish property market annals as one of the busiest and most dynamic since 2008. And it was no different for the Costa del Sol, where demand for new-build and resale properties soared. It also became the most active region for international buyers.
The good news is that the market seems to be recovering its strength and is now in a more stable position than some experts had expected, even though resales have yet to return to pre-pandemic levels. New-build sales have, however, taken a greater share of the market. According to figures from the Registrars Association, they represented 27% of sales in Q1 – significantly higher than the 15% and 10% recorded in the two previous quarters.
The price increases for new-build properties have been more significant, although they are still lower than those for resales. The average price per square metre for new homes stood at EUR2,569, compared to EUR2,087 for resales.
In terms of location, Malaga city led the way in price rises, with a year-on-year increase of 13.6%. This was followed by Benahavis and Estepona.
Meanwhile, Manilva saw prices skyrocket by 18.8% and Sotogrande by 8.8%. In general, all these locations have seen more pronounced quarterly growth than the national average of 2.3%. property sales costa del sol