OUR BLOG
The property market situation
The COASTAL PROPERTY REPORT by TINSA Research provides a detailed analysis of the existing Spanish coastal holiday property markets. The latest report, which covers the first three months of 2022, comments on the most interesting aspects of the market situation and prices. As regards the area between Marbella and Manilva the most significant data are the following:
Prices for second homes are between 20 and 100% higher than those for first homes.
The most common holiday properties are apartments and cost an average of €2,300 per m² between Torremolinos and Mijas, €3,500 per m² between Marbella and Manilva, and €3,800 per m² in the Axarquía, Nerja and Rincón de la Victoria. Detached homes are slightly cheaper.
The average price for properties in coastal municipalities generally is €1,848 per m².
In 2021, the market exceeded 2019 levels in prices, sales and licences. In 2022, prices in coastal municipalities have gone up by 5.2% within a scenario of upward trends in all variables, pointing to overheating in the local market.
Worth highlighting is the sharp reactivation of development activity.
Malaga is one of the provinces in Spain with the highest proportions of coastal market, which accounts for 85% of sales and 80% of building licences within the provincial total.
Foreign demand is greater than Spanish and has increased significantly over the last few months. Foreign buyers make up the majority in all areas except for Fuengirola and the outskirts of Malaga city, where Spanish buyers from Madrid and nearby provinces such as Cordoba and Granada predominate. Foreigners account for over 70% of holiday homes sales and usually come from the UK, France, Belgium, Sweden, Norway or the Netherlands.
THE IMIE-TINSA LOCAL MARKETS REPORT FOR THE 4th QUARTER OF 2022 provides the following data for the municipality of Marbella:
