In Malaga and the Costa del Sol, the real estate market is incredibly dynamic, with 43% of properties selling within just a month, according to Idealista’s first quarter 2024 data. Remarkably, 13% of homes are sold in the first week, and an additional 30% sell between the first week and the end of the month.
Interestingly, Malaga is not the top Spanish provincial capital for “express sales” (homes sold within a week). This year, 13% of properties were sold in under a week, a slight decrease from 16% last year. Granada leads with nearly one in four homes sold within seven days, followed by Tarragona (20%), Barcelona, and Valencia (both at 19%). Despite this, Malaga ranks third for sales within the first month, following Jaén (45%) and Teruel (33%).
The Role of a Buyer’s Agent in Malaga’s Fast-Moving Market
Given the rapid pace of property sales in Malaga, having a buyer’s agent is crucial. A buyer’s agent can offer exclusive access to listings, arrange swift viewings, and negotiate expertly, ensuring you don’t miss out on your ideal property. Our deep local knowledge and extensive network are invaluable in such a competitive market.
Shifting Trends in Express Sales
Several provincial capitals have seen a decline in express sales. Girona, for example, dropped from 36% in the first quarter of 2023 to 14% this year. Similar declines were observed in Salamanca, Vitoria, and Cadiz. Major markets like Alicante, Palma, Barcelona, Malaga, and Madrid also saw slight decreases in express sales percentages. Conversely, Tarragona and Melilla experienced growth, with Tarragona increasing from 13% to 20%.
Malaga also tops another ranking: it has the fewest homes for sale after a year on the market – only 5% remain unsold after twelve months, in stark contrast to Zamora, where around a third of properties remain unsold after a year, similar to Lugo and Palencia.
Investment Opportunities in Malaga’s Real Estate Market
Malaga and the Costa del Sol present a prime investment opportunity, especially considering its thriving tourism sector. According to the Spanish National Statistics Institute (INE), tourism in Malaga remains robust. Additionally, AirDNA data indicates a strong preference for vacation rentals over hotels.
In Malaga, vacation rentals boast a 67% occupancy rate, with an average daily rate of 143€ and annual revenue growth of 3% (AirDNA). This trend highlights the potential for substantial rental income, making it an attractive market for property investors.
The dynamic property market in Malaga underscores the importance of having a buyer’s agent to navigate fast transactions and secure ideal properties. Coupled with robust tourism figures and a growing preference for vacation rentals, Malaga remains a hot spot for both homebuyers and investors looking to capitalise on its vibrant market.and the