Andalusia and Costa del Sol sales rise

The official Spanish Institute of Statistics (INE) reports that more and more houses are being sold in Spain. In the Andalusia / Costa del Sol region alone almost 6,000 properties were sold during the last 8 months. This comes down to almost 750 properties per month. The number of houses sold in Spain has risen every month so far in 2015. Existing property has caused this boost – as newly built properties see a decline in sales.

Andalusia and Costa del Sol sales rise

In the first eight months of 2015 the number of houses sold in Spain increased with 24%. In total nearly 30,000 properties were sold, with Andalusia and the Costa del Sol leading with 5,984 transactions. This means that on average nearly 750 properties are currently being sold in Andalusia and on the Costa del Sol.

Positive signs

The slowdown in price falls began in 2013. By the end of 2014 property on the Costa del Sol actually began to increase in value. This may have to do with low interest rates and banks becoming more flexible in granting mortgages. A strong pound sterling also helps, as a large part of foreign buyers is British. Last but not least the Spanish economy seems to be picking up, the Spanish job market seems to be recovering and the number of tourists in Spain reaches records year on year (which ranks Spain as one of the most popular countries to own a holiday home in). Experts say that these positive figures don´t mean a definite recovery of the housing market on the Costa del Sol, but call it a ‘normalization’.

More information

Would you like to know more about the Andalusia and Costa del Sol sales rise? Or are you interested in buying property on the Costa del Sol in towns such as Torremolinos, Marbella, Mijas, Benalmádena or Fuengirola? Then contact us, search our database or ask for a free property search. We will gladly assist you in finding your dream home in Spain.