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Feb 06 2014

Malaga revels in property sale figures for 2013

Malaga revels in property sale figures for 2013

Malaga revels in property sale figures for 2013 capturing a staggering 13.9% of the Spanish market of property sales to overseas purchasers in the first 9 months of 2013. Malaga is the top province in Spain for 2013 for property sales of which 36.2% were to overseas residents, a figure way higher than the national average which remains at 16.8%. As a stark comparison, the figure for 2012 was 28.2% so an 8% year on year rise.

In terms of volume, Malaga remained top of the market with more than 1,306 sales taking place in 2013. The main substantial increase was performed in the first quarter of the year.  In contrast the number of Spanish nationals purchasing has actually dropped.

Ricardo Arranz, President of the Federation issuing the report, claims that the fledgling upturn in this sector comes at the hands of distinct pockets of foreign buyers with a growing interest in Spanish properties, especially those residing in Northern Europe, Russia and the Middle East.

One would imagine that the newly implemented “Golden Visa” scheme that was introduced in the last quarter of 2013 has contributed towards the interest from these countries, especially Russia and the Middle East upon where Andalucía has always been a popular destination for these countries. Of course with an investment from as little as half a million Euros, one can now purchase a property and obtain the “Golden Visa” allowing free travel in Europe which for many businessmen from outside the EU is a small price to pay, and at the same time obtaining a property within a stunning part of Spain.

We have personally “hit the road running” in 2014 and so far have concluded many sales and found many purchasers for our valuable clients that we have within KMS Property. If you would like to place your property with our pro-active team at KMS Property where we cover a variety of languages such as French, Spanish, German and Dutch, please contact us via our website where we will be delighted to give you a free appraisal and discuss the benefits of placing your property for sale with us.