It is obvious to say that COVID has a direct influence in the prices of the real estate market along La Costa del Sol. Taking into account that, approximately, we have spent the 33% of the year at home, the sales stopped and this had some consequences that we want to analyze on our blog.
We can organize all the information about the situation of the market in three proints.
- The fall in the trade of properties:
A lot of operations before the pandemic were stopped due to the fear of buyers. Some of them thought they were not going to be capable of facing the investment or even decided to wait a future descent of prices.
A good example is the information that Diario SUR told in one of their pieces of news about the real estate market: according to Diario SUR, between January and April of 2020 (when we were living the first month of confinement) were carried out a 48% less of operations than the same period the year before.
- Break in the development of prices
This break in opeations has as direct consequence a stop in the development of prices or even a descent. Therefore, prices speculation and the current values of the market are much more realistic than they were before the pandemic.
- An important growth in the real estate market from holidays properties.
Tourism has been one of the sectors more sored by the health crisis. Consequently, so many owners of touristic properties have decided to become their houses in long staying rents.
Moreover, the confinement has come an interest in houses with more space on the open air to enjoy if we have to stay at home again for a long period. This means that some properties in the city centre are now available.
La Costa del Sol resists the real estate crisis
However, not everything is bad. A recent study believe that prices of de real estate market will become what they were before the pandemic along 2021.
On the other hand, it is interesting to know that prices in luxury houses has reduced in a 20% due to the need of selling of the current owners.
When tourists with powerfull economical resources can come back to Malaga, the situation will be again what it was. Meanwhile, you can take advantage and buying a property with these prices which are under the average in La Costa del Sol. You can contac us to talk about your needs.
IMAGES FROM: TINSA.ES