Malaga capital and the Costa del Sol will maintain their financial and real estate pulse in 2024
In spite of the specific data for each month, throughout 2023, due to the fall in sales and purchases as a result of the decline in the granting of mortgages, the real estate trends of the main indicators of new construction, refurbishment, counted sales and purchases, investment, rents... in both residential and tertiary sectors have continued to show sustainable growth as demand has outstripped supply.
Malaga capital, coast and inland metropolitan area, for reasons of work (digital nomadism), studies, culture, leisure, sport, health and the classic sun and beach tourism, needs double the available real estate product, whether new construction, refurbished or for renovation, whether for sale or rent, right of superficies, usufruct, administrative concession... This is the clear conclusion of the analysis of 'Real Estate Business School'.
Proof of the strength and necessity of the demand for new construction is the fact that the number of building permits at the provincial level in Malaga has a tendency to break the 10,000 dwellings mark; however, the capacity to apply for, manage and grant building permits, even by responsible declaration, barely exceeds 5,180, with the difficulty of overcoming the construction and completion of more than 4,580 dwellings in the whole of Malaga remaining.
Thus, the rate of housing completions is expected to increase in the coming years, until it balances a demand that continues to exceed almost 8,500 new home sales and purchases, absorbing almost all of the existing stock. In fact, given the lack of first-hand, refurbished or rehabilitated product, the second-hand market continues to take shares unknown in previous times, as it will exceed 31,000 sale and purchase operations by the end of 2023.
From DEXTER's Real Estate Department, Ángel García points out that "there is a latent element behind this sustained growth in Málaga: it is built because it sells; but also because, despite the decline in traditional bank credit, investment funds are entering with force and speed to grant loans to developers whose projects have a very clear visibility in repayment. This is where we come into play, in the first line, as a financial manager and intermediary," he concludes.
Malaga capital and the Costa del Sol will maintain their financial and real estate pulse in 2024
In spite of the specific data of each month, throughout 2023, due to the fall in sales and purchases as a result of the reduction in the granting of mortgages, the real estate trends of the main indicators of new construction, refurbishment, sales and purchases, investment, rentals... in both residential and tertiary sectors have continued to grow sustainably as demand has outstripped supply.
Malaga capital, coast and inland metropolitan area, for reasons of work (digital nomadism), studies, culture, leisure, sport, health and the classic sun and beach tourism, needs double the available real estate product, whether new construction, refurbished or for renovation, both for sale and for rent, right of superficies, usufruct, administrative concession... This is the clear conclusion of the analysis of 'Real Estate Business School'.
Proof of the strength and necessity of the demand for new construction is that the number of building permits at a provincial level in Malaga has a trend of over 10,000 dwellings; however, the capacity to apply for, manage and grant building permits, even by responsible declaration, barely exceeds 5,180, maintaining the difficulty of overcoming the construction and completion of more than 4,580 dwellings in the whole of Malaga.
