Property sales, Spain down 18.3%, Malaga up 7.8%
The sale of Costa del Sol properties saw an increase of 7.8% in May compared to the same month last year according to Spain’s Institute of National Statistics (INE), with monthly sales standing at 1,931 sales (including VPOs).
On a national level property sales decrease in May by 18.3%, due to a sharp decrease in new build sales. Malaga province has been has been at the other extreme and seen an 18% increase in new build sales.
Compared to 2010, the province of Malaga has seen total property sales increase in January by 6%, February 1.8%, March a 9.7% increase and May a 7.8% increase. The only aberration was April which saw a drop of 24.5% drop compared to the previous year.
These decreases followed a positive start to the year with February registering an increase of 10.5% and a 19.6% in January, which broke the decreases of the last four months of 2010.
As of May, sales along the Costa del Sol are up 0.8% compared to the same period in 2010.
Of the 30 797 residential sales transactions recorded in May, 7.3% were social housing (VPOs), compared to 13.4% for all of Spain.