The Ministry of Housing recently published the information on the index price where we can see more increases in prices along the coast from Estepona to Malaga. I have double checked these numbers with the price index of one of the best real estate webs in Spain, Fotocasa, and the tendency is also upwards. The price per square meter is different because the prices on the real estate webs are “for sale” prices and, therefore, higher than the actual “sold” prices. In general, that difference is 17% higher on the web portals than the official price index.
In Marbella and Benahavis we are in a situation with increasing prices, a slight reduction in the number of transactions and an increasing number of properties for sale on the market. Therefore, the market is still in good conditions but we have to keep an eye on the inventory and the number of transactions. Specially on this last number that will come out at the beginning of March that is the one that shows how strong the market is. The first indications show that it went down about 10% in the province of Malaga versus the previous quarter but we will have to review it in detail to understand where and to which level compared to the same period of the previous year. In general, it is the same situation we’ve seen last year with a strong competition, to be able to sell it is very important to have a competitive pricing, and new developments are coming up, which will increase even more the inventory.