Nueva Andalucía, Costa del Sol, Málaga

We've always said that the Costa del Sol would be the first place in Spain to recover from the crisis... now it's official!

According to a report in yesterday’s edition of Málaga’s Diario Sur, a total of 18,763 residential properties were sold in Málaga province in 2013, which is 941 more than in 2012 representing a very healthy year-on-year increase of 5.3 per cent.

Of this figure, resale properties amounted to 9,237 – an increase of 479 when compared to data for 2012 – while sales of new homes reached 9,526, up 462 on figures for the previous year…

Based on data just released from Spain’s National Statistics Institute (INE), house sales in Málaga province amounted to 30 per cent of the total for Andalucía while nationally Málaga was in 4th place after much larger and more densely populated Madrid, Barcelona and Alicante.

So while it’s great news that the Costa del Sol property market is clearly bouncing back – with recorded property sales last year the highest since 2006 – other regions of Spain haven’t fared so well. Overall property sales were down nationally by 2.2 per cent and in Andalucía by 0.36 per cent.

Other welcome news – coincidentally also published by the INE yesterday – shows that no fewer than 4,704 new business startups were created in Málaga province last year, the highest number since 2007.

So things are well and truly looking up, but then at VIVA we’ve always said that the Costa del Sol would be the first place in Spain to recover from the recession… and now it’s official!