The Spanish property market post Cov19 forecasts that sales are likely to return to 2012 levels. A report warns of the consequences for the Spanish property market due to the lack of foreign tourists, but predicts a rapid recovery.
Real estate experts confirm a rise in New Costa Residential Projects. A third of all the new development projects completed in Andalucía in the year from March 2018 were built in the province of Malaga, that is, 3,647 of a total of 10,609 new homes.
Experts in the real sector on the Costa del Sol are commenting on a slowing in the pace of purchases and the prices of homes in Marbella and the affluent areas such as Golden Triangle which includes Benahavís and Estepona. The oversupply directed to the same buyer profile, the uncertainty generated by the Brexit and the future of the relations between Great Britain and the European Union coupled with the slowdown of the international economy are contributing to a slowdown of the sustained growth in the real estate market that began in 2010 .
The sale of homes rose by 6.8% last March in relation to the same month of 2018, to add 42,649 operations, as reported by the National Institute of Statistics (INE) on Tuesday. The advance registered in March was a consequence of the increase in new home operations by 14.6%, up to 8,045 transactions, and of an increase of 5.2% in the purchase and sale of used homes, to 34,604 operations.