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Prices of new Costa homes among fastest rising in Spain

A building going up on the Costa del Sol.
A building going up on the Costa del Sol. / Ñito Salas / File photo
  • Prices were up six per cent in January 2019 compared to January 2018 for flats and houses bought new from developers

The Costa del Sol is one of the parts of Spain where prices of newly-built homes are rising the fastest. According to a respected real estate valuation report, in Malaga province, including the Costa del Sol, prices were up six per cent in January 2019 compared to January 2018 for flats and houses bought new from developers.

The Sociedad de Tasación's analyts said that they expected prices to continue to rise in the Costa area this year, but with less volume of business than in the last 12 months.

It also warned that the failure of Marbella to agree a new PGOU master town plan to replace the old 1986 one was likely to have a negative impact on the evolution of the market in that resort.

Looking at Andalucía overall, Malaga province was the fastest growing in terms of prices on new-build property, followed by Seville and Granada provinces.

At a national level, the areas where new property prices increased the most were Catalonia (7.7%), Madrid (7.5%), followed by the Balearics on 5.8%. The average for the country as a whole was 5.4%.

The report waspresented in an innovative format to look like a weather map.