Over 2000 properties were sold in Malaga to non-Spaniards during the second quarter (Q2) of the year, making it the second most popular province for foreign purchases.
A total of 16,209 homes were sold to foreigners across Spain in Q2, according to the Spanish Association of Land Registrars.
The Comunidad de Valenciana was the post popular autonomous region amongst foreign buyers – accounting for 5,133 of total sales. Andalucia followed, making up 3,147 of purchases, according to estimations made by Mark Stücklin at Spanish Property Insight.
In terms of foreign acquisitions by province, Alicante which is on the Costa Blanca saw the most activity with 3,961 purchases, representing 41.81% of all home sales in the province.
While in Malaga (on the Costa del Sol), 27.9% of all home sales in Q2 involved a foreign buyer, totaling 2,094 purchases and making it the second most popular province for foreign property purchases.
With many attractive features, including the glorious weather, beautiful beaches and numerous golf courses, it’s easy to see why Malaga province is a magnet for tourists and investors.
In 2017, Malaga hosted more than 1.3 million tourists, 9% more than in 2016, according to official figures, making in the fastest growing tourist destination in Spain. The Brits remained at the top in terms of visitor numbers, totaling 119,000 – an increase of over 20%.
Rising tourist numbers have created good buy-to-let investment opportunities and many Brits have indeed cashed in by purchasing properties with the sole intention of renting them out to holiday makers.
Property prices in the province are rising, but there are still some great opportunities to be had, like brand new apartments close to the golf course in Estepona from as little as €135,000.