April 3, 2007 at 12:47 pm #52766
Moderation in house price rises on the Costa del Sol
Apr 3, 2007 – 1:29 PM
House prices have fallen for the first time in Málaga City
The price of housing is reported now to be falling in Málaga City and is holding steady elsewhere in the province.
The price of a flat in Málaga City fell for the first time, down to 2,947 € per square metre. However that cost is doubled in the more expensive eastern part of the city.
Housing costs on the Costa del Sol increased by 1.38% over the first quarter of the year, with just the towns of Fuengirola, Benalmádena and Manilva returning a price increase of more than 6%.
Tourist home prices were up an average of 8%, with the largest increases of 12.4% seen in the Axarquía, and prices holding steady in Mijas. In Marbella, where the most expensive tourist homes can be found, the increase in price was 4.5%
The numbers come from Salvago Consulting, which is forecasting an overall increase in house prices on the Costa del Sol of 8% this year.
© Copyright 2007 by typicallyspanish.com
April 3, 2007 at 6:42 pm #70555
Next one down 🙂
April 3, 2007 at 6:44 pm #70556
Dont know where they got these figures from but even if they are remotely correct they would do for me. 😀
When you ad the purchase and sale costs even at this rate of growth it would take around 3 years to get back to square one.
If an additional two years could be added then never know ?
Somewhere in the distant future my humble aboad may catch up.when and if it becomes legal and we owners create a fund to sort the landscape? left by phase one.(nice place to stay in the meantime)
Lets hope that my development and Santa Maria Village get together to the benefit of us all and finish where the developers left it as seems the norm on many developments,
April 7, 2007 at 7:29 am #70642
If falling house sales leads to falling house prices, looks like Madrid may be joining Malaga…..
Fall in housing sales in Madrid
Apr 6, 2007 – 7:01 PM
Levels have fallen back to those seen in 1994
Real Estate sales of homes in Madrid have fallen back to levels last seen in 1994, according to a new report from the Madrid Chamber of Commerce.
The report indicates that residents of the capital are tightening their belts, and have as a consequence also spent less on more expensive purchases, such as electrical appliances, of late.
(‘Typically Spanish’ Website)
April 7, 2007 at 9:31 am #70651
Remember typically Spanish and its sister site thinkspain are funded predominantly by estate agents who pay €100 each to advertise their properties on there.
And who are Salvago consulting. They appear to be an estate agent them selves.
So I would take these figures with a pinch of salt. Personally would love to see the market back but cannot see it happening anytime soon
April 7, 2007 at 11:30 am #70657
Vince – this last report is…….”according to a new report from the Madrid Chamber of Commerce”.
Or are they just as useless ? 😉
April 7, 2007 at 12:29 pm #70658
I would have more confidence in stats from the Madrid chambers of commerce than I would thinkspain. And look at the difference – one says falling sales (which is very true) and the other one says house prices rising everywhere. However in fairness to typically Spanish this is just regurgitated from the National Stats office – whereas we all know the reality is somewhat different.
Personally I would like to see the market get back to its glory days (without the rip off merchants of course) or at least steady. One because my job is interlinked with it and two because I own a number of properties that I would like to now sell.
Anyway the optimist in me says everything in the garden is rosy. The realist in me says my lenses need cleaning
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