THE MARKET IN GENERAL
According to most sources the market has registered modest increases across Spain as a whole with some regions notably the Baleares posting a significant decrease of -18% June 2018 verses
June 2017, followed by the Canaries -13% and the Costa Brava -9%. Andalucía increased by 7% and the Costa Azahar (north of Valencia sometimes referred to as the `Orange blossom coast`) increased by a whopping
Source: National Institute of Statistics (INE).
Graph by Spanish Property Insight
THE NERJA MARKET
Quarter 4 figures were not available from the Minesterio de Fomento for resales in Nerja to be included in our last magazine. At that time
the strongest year was 2006 with 602 units sold, 2017 finished with 627 units sold surpassing the peak of 2006.
At the time of producing this magazine quarter 1, 2018 figures are:
Q1 2018 – 145
Q1 2017 - 121
Q1 2016 - 138
Q1 2015 - 135
Source: Ministerio de Fomento
Read more Date: 06 September 2018
According to most real estate commentators the Spanish resale and new build market will continue to grow subject to no major political or financial surprises. The combination of a resurgence in both tourism and foreign investment ( particularly on the coast ) supports a ´thumbs up´ for the property sector in general.
Demand rose 11.6% in the third quarter of 2017. Interestingly the months of August September and October 2017 saw the number of new build sales exceeding resales. According to the National Institute of Statistics new build applications across Spain were up by nearly 27% for the first 9 months. Likewise, applications to refurb and extend were up 3% and 11% respectively. Year 2017 to October the Costa del Sol registered a 14% increase versus the same period prior year. The only area posting a decrease was Almeria at - 8%.
Read more Date: 06 February 2018
Since Brexit the UK still represents the largest share of buyers in Spain - 2016
The number of overseas purchasers in Spain increased by 15% in 2016 over 2015. The market of some 53,500 buyers posted an increase of 15% with the UK providing 10,156 buyers.
Read more Date: 21 April 2017
I am delighted to be able to say that 2015 was the best year in the 16 years that the business has been trading here in this beautiful location of Nerja. Growth came from both holiday rentals and property sales, almost in equal parts, which is a first since 2008. Most of us are determined to take a holiday irrespective of conditions back home and this is reflected in the performance of our holiday rental business which continues to go from strength to strength.
Read more Date: 01 September 2016