The information on the number of transactions closed in the third quarter of 2021 for the municipalities of the Costa del Sol has been released recently by the Ministry of Housing, showing record numbers in some cases and outstanding figures in others. For this article, I have included the charts for Marbella, Benahavís and Estepona, but the tendencies for the rest of the municipalities are similar.
CHART 1 - NUMBER OF HOMES SOLD IN MARBELLA 2nd QUARTER 2021
Focusing on Marbella, we can see that the third quarter, following the activity we had on that quarter, was the best third quarter in the history of Marbella, surpassing even the third quarter of the record year 2004. If the number of closed transactions at the fourth quarter reaches the average levels, the year can be as good or even better than the last series of good years we saw between 2014 and 2018. In any case, it is going to be above the average number of transactions closed in one year for Marbella.
CHART 2 - NUMBER OF HOMES SOLD IN BENAHAVIS 2nd QUARTER 2021
Regarding Benahavís, the number of trans-actions closed in the first three quarters of the year are already above the municipality´s yearly average. The number of transactions closed in the first three quarters is higher than the total number of transactions closed in 2017, 2019 and, of course, 2020. Up to the third quarter, there has been only one year in history better than 2021 and that was 2015. Therefore, we already have record numbers for Benahavís and, depending on closed transactions during the fourth quarter, it could be the best year so far.
The numbers for Estepona paint a similar picture: it was the best third quarter in the history of real estate in Estepona and up to the third quarter of 2021, the best year ever on number of closed transactions, outperforming the record high of 2017.
Looking at these numbers we are quite positive facing 2022. We hope new waves of covid-19, similar to the one we are facing right now, will not affect the real estate market on the Costa Del Sol negatively but have a positive impact.