COSTA DEL SOL SHOWS THE BIGGEST PROPERTY SALES GROWTH AT THE END OF 2013.
COSTA DEL SOL SHOWS THE BIGGEST PROPERTY SALES GROWTH TOWARDS THE END OF 2013.
Figures from the Ministry of Public Works show an increase of over 25% for sales in the Malaga/Marbella Region.
For the second time in so many months, positive figures have been issued about the property market in the Malaga region. Towards the end of last year figures from the National Institute of Statistics revealed that property sales in the province had risen for the first time since the beginning of the crisis and now figures from the Ministry of Public Works show that the number of property transactions increased by 25.4% in Malaga more than in any other province of Spain, compared with the same period of 2012.
Those in the property sector are crossing their fingers and hoping that the trend continues. The Costa del Sol and the Levante region were the first to enter the recession and may also be the first to come out of it, according to reports issued for the Ministry which show that after Malaga, Almeria, Barcelona and Murcia are the provinces in which the most properties were sold, compared with the same months last year.
Nevertheless, property experts point out that Malaga province offers a climate and infrastructure with which the Levante region cannot compete, even thought it may be cheaper to buy a property there. "Nobody can beat the Costa del Sol in terms of climate, lifestyle and services."
Another revealing and equally positive figure for the property sector in Malaga is that almost eight out of every ten sales were of resale properties. Experts say that this group includes not only privately-owned properties but also new ones which were completed but not sold and which ended up in the hands of the banks because the developers who built them went bankrupt. Nevertheless, they recognise that the difficulties in obtaining a mortgage continue to undermine the hopes of the average person in Spain of being able to buy a property, making this something increasingly exclusive to foreign purchasers and investors. Specialist clearance agents like the popular DistressedSalesSpain.com are selling these brand new luxury properties on behalf of the banks.
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