MALAGA has been revealed as expats’ firm favourite after statistics showed 70% of Andalucian properties sold to foreigners are in the province.
Figures from January to July this year show there were 4,978 registered real estate transactions in Malaga, an increase of 16.9% on the same period in the previous year, accounting for 70% of sales in Andalucia.
In the same period, the number of sales to foreigners in the whole of Andalucia rose by 18.9% year on year.
The figures show the Costa del Sol is still by far the number one choice for foreign buyers.
Meanwhile, figures from the second quarter of 2016 show sales were up in all regions of Spain except Navarre and La Rioja, where they fell 20% and 2.7% respectively. They rose the most in the Balearics (28%) and Catalonia (25%). Andalucian sales rose by 10.1%.
The overall picture, according to a report by the Notaries’ Association, is one of a stronger market in areas that benefit from foreign demand, like Madrid, the Mediterranean coast, and the islands.
The figures confirm that Spain is heading towards a healthy recovery, with home sales in the whole of the country up 13.3% and house prices up 1.3%.