Malaga registers almost one hundred housing sales per day, its record since 2008
The sale of houses is at its highest point since 2008, the year that marked the bursting of the real estate bubble. This is shown by the statistics of Property Rights Transmissions, updated yesterday with data from March, which marks the highest number of purchases in the province of Malaga in a month since April 2008. Exactly 2,925 houses changed ownership during said month, almost one hundred a day. The increase compared to March 2016 is 37% and the accumulated growth during the first quarter of this year amounts to 19.6%.
The fact is that the month of March was spectacular for the sale of housing in the whole of Spain, with a 26.9% year-on-year increase that increased operations to 40,461, the highest figure recorded in the country since February 2011. I the Andalusia region, year-on-year growth was 28%. And Malaga, with the aforementioned 37% increase, exceeded both the national and regional average.
As Emilio Lopez, president of the Association of Constructors and Promoters of Malaga (ACP), pointed out yesterday in their annual business meeting “2016 was the year of the definitive reactivation of the residential building in Malaga”, to highlight how growth is accelerating this year: “The first quarter of 2017 has recorded more than double house transactions than the same period last year” he said. In fact, as published Diario SUR a few days ago, from January to March, projects were targeted for a total of 1,397 new homes, representing a year-on-year increase of 121%. “In Malaga the market is moving rapidly and with strength,” he concluded, adding that prices are rising smoothly (4% a year) and construction-related employment increased 13% in the first quarter.