10% Price increases for Villas in Malaga during Covid 19?

Spanish Property Insight Forums Spanish Property Forums Property Questions & Answers 10% Price increases for Villas in Malaga during Covid 19?

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    • #239166
      mscholder
      Participant

      My spouse and I were thinking about buying a villa in the near future in the Malaga province for our imminent retirement but were shocked by the claim in the new Idealista article that chalet/villa prices had increased 10%.

      https://www.idealista.com/news/inmobiliario/vivienda/2021/02/24/789238-los-precios-de-los-chalets-aumentan-mas-que-los-pisos-en-el-ano-del-coronavirus#xts=582065&xtor=EPR-1062-%5Bnews_weekly_20210226%5D-20210226-%5Bm-02-titular-node_789238%5D-28188490@3

      Is this due to a very small sample size or has anyone seen this on a larger scale?

      Combined with a 13% negative move in the US$/Euro exchange rate, that is a 23% price increase in one year for us.

      With copper and lumber prices near record highs, perhaps we should wait out the post Covid 19 demand boom? Any thoughts?

    • #239186
      Geoffrey
      Participant

      I certainly hope that prices have been rising in the Malaga area as I own several properties around Benalmadena and the hills behind Marbella.

      I have been hoping that, with Covid encouraging people to think of alternative places to live, they will consider moving to the coast from Madrid and other inland cities.

      For me the Costa del Sol has many attractions that you won’t find elsewhere in Spain, and even Torremolinos is slowly being tarted up 🙂

      Malaga itself is becoming more stylish, and they are even getting close to completing the 400 metre extension to the Metro line into the centre …. after a decade!

    • #239196
      mscholder
      Participant

      Hola Geoffrey,

      We appreciate your feedback on our 2 forum questions.

      I re-read my Google translated version of the Idealista article, which uses the terms: Chalet, single family homes, villas, apartments, flats and pisos. The article pointed out that the prices for some types of property, specifically chalets, single family homes, villas were increasing in small to modest percentages in Southern Spain but prices for apartments, flats and pisos were slightly down or only slightly higher.

      According to the article, for all of Andalucia, single-family home prices were 3.9% higher but apartments were down 1.6%. The prices for chalets in Malaga province are up 10%, but apartments were down 0.1% for Malaga province. In the city of Malaga, villas were up 1.5% while pisos (flats, apartments, and condos?) were 1.9% higher.

      It is not clear to me that chalets, single family homes, and villas are synonymous but I presume that pisos, flats, and apartments are synonymous. What is your view of the usage of those terms?

      Gracias, Michael

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