The real estate market in Spain has shown resilience in Q3 2024, with coastal areas like Costa del Sol continuing to perform strongly. According to the latest reports from Tinsa and Registradores, Málaga province saw a significant 9.8% year-on-year increase in residential property prices, a trend fueled by strong demand, particularly in tourist-heavy areas like Marbella, Estepona, and Benahavís. This rise in prices has also pushed the region above its pre-crisis peak from 2007 for the first time.
The limited supply of new homes continues to contribute to the upward pressure on prices, with the first five months of 2024 showing a 14.8% increase in new housing availability, though still not enough to meet demand, particularly in prime areas of the Costa del Sol
Foreign buyers remain a key factor in the region's real estate dynamics. In Málaga, international demand is strong, with foreign buyers making up nearly 30% of the market. British buyers remain the largest group among these, underscoring the appeal of the area to international investors looking for both lifestyle and rental opportunities
Looking at the broader trends, property prices across Spain have been pushed upward by both high demand and constrained supply, particularly in sought-after areas like the Costa del Sol. This makes now an excellent time for buyers and investors to consider properties in Málaga, as prices continue to rise, particularly for luxury villas and apartments
The ongoing increase in property values and the consistent demand for housing in top coastal areas, combined with the low supply, make this period an exciting time for anyone looking to invest in the Spanish real estate market. Whether you're searching for a luxury property or a long-term investment opportunity, the Costa del Sol remains one of the best areas for capital appreciation in Spain.
For more information on buying property in Marbella and Costa del Sol, visit Nookhomes for expert guidance and listings that meet your criteria.
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