Malaga’s property market revival being led by the British

Due to recent exchange rates, this year British citizens are predicted to start buying up even more Spanish property. Last year, compared to any other foreign nationality, more property in Malaga was bought by the British, which helped to cause a 28% rise in sales.

Expats bought 38 per cent of the homes on sale. Over the last two years, property bought by foreigners in Malaga has nearly doubled, increasing to 9,000 in 2014 compared to 5,140 in 2012.

Scandinavians came second after the British buyers, then French, Benelux buyers, Germans and Russian respectively. There was a 29% rise in property sales to Spaniards last year, with figures returning close to what they were before the economic crisis.

The Golden Triangle of Marbella, Benahavis and Estepona, as it’s widely known, accounted for nearly a third of property sales in Malaga. An astounding 6,821 properties were sold last year, which topped the pre-crisis levels in 2007. Some 2,030 sales alone were registered in the last quarter of 2014.

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