Property for sale in Malaga

With its wonderful combination of warm Mediterranean climate, superb cuisine and incredible nightlife, it's easy to see why Malaga has proven to be one of Spain's most popular tourist areas over the past 20 years. Attracting around 6 million visitors every year, Malaga is today undoubtedly one of the highlights of the Andalusian region. Understandably, it is easy to see why so many people have chosen to buy property in Malaga in recent years, many of whom have made Malaga their permanent home.

At the heart of the Malaga property market is the regions thriving tourism industry, and with over 300 days of sunshine every year, it is easy to see why so many people choose to buy property in the region, particularly within the major resorts such as Marbella. With an average annual temperature of almost 20°, the Mediterranean climate offers residents long, warm summers and exceptionally mild winters. As such, the region offers a much longer rental season than many other parts of Europe, and as such a large number of overseas investors look to purchase property in Malaga with a view to renting out on a short and long term basis.

This long term appeal has indeed resulted in Malaga proving particularly resiliant to the more turbulent economic conditions. Indeed despite these conditions of the past couple of years, the demand for property in Malaga remained strong throughout. The fact that this demand did not translate into sales seem to be more a function of the price of property in Malaga rather than the demand. What has changed more recently is that the prices of properties have come down, with recent reports showing reductions of around 18 to 22% in the region. This new era of more realistic prices look set to bring investors back into the region, and as mentioned earlier early signs are that this is in fact the case. Only time will tell, however it seems likely that the demand for property in Malaga will continue for the foreseeable future.

It is still too early to make predictions for the medium to long term trends in the Malaga property market, especially as we are in relatively uncharted waters with regards to the new austerity measures brought in by the Spanish government. However, the signs and trends of the first half of 2011 bode well, and it does appear as though the worst of the economic crisis has indeed passed, and the green shoots of recovery are indeed in place in the Malaga property market.

Regional Info: Marbella

Property For Sale In: Marbella | Puerto Banus |