The time it takes for a property to sell is a good indicator of the real estate market’s temperature. And according to new figures from Idealista, the Costa del Sol is heating up: 20% of listings here change hands in less than a week, well above the national average.
In fact, the province is one of only four in Spain to achieve this, behind Cuenca, Madrid and Granada. And the city of Malaga mirrors this provincial trend, with 19.9% of homes changing hands in a week or less, putting it on par with the likes of Barcelona and San Sebastian.
New-build sales also showed signs of picking up in the region, despite the coronavirus lockdown that has seen international demand curbed. Tinsa data revealed that sales of new-builds in the Costa del Sol increased by 17% in Q1.
As expected, prices on the coast rose as well, although they are still 29.5% below their 2007 peak, according to Tinsa. Benahavis, Estepona and Manilva were among the locations where prices went up the most, with increases of over 10% in each case.
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