“It’s the foreign buyer who drives the Costa real estate market”

The resale market in Malaga province is growing at the same rate as places like Madrid and Valencia, with a 12% year-on-year increase


A real estate price monitoring index is pointing to good news in the property sector on the Costa del Sol and is further proof of the strength of the market. The regular survey by Fotocasa, an online real estate agency, focusses on resale properties, not new build, and states that prices in Malaga province are rising at about 12 per cent a year. That’s a similar rate to other hotspots like Madrid and Valencia and twice the national average. In Malaga city the growth is 19 per cent.

According to Beatriz Toribio of Fotocasa, the rise on the Costa “is not just due to the interest from national buyers, but also the importance of foreign purchasers”.

Speaking at the launch of Expo Costa del Sol in Marbella, Toribio denied that a new real estate bubble was growing and waiting to be burst. “Not in Spain overall,” she explained, “prices are still a long way off their previous peak.”

Nieves Castro | MARBELLA