20 January 2019 – La Información
The real estate sector is certain. After Madrid and Barcelona, the city where the property business is going to grow by the most is Málaga. The capital of the Costa del Sol is on everyone’s lips and is forming the focus of the real estate investments being made by many of the leading firms in the sector. Aedas, Neinor and Quabit are just a handful of the property developers that have decided to set up cranes in the Andalucían city, which is seeing how more and more people are choosing to live and spend their summers there.
The experts are not hesitating to point to the capital of the Costa del Sol as the third city in the shadow of the real estate market, behind only Madrid and Barcelona (…).
The attraction of foreign investment is another of the most important factors in Málaga. In this sense, Fernando Ferrero, Director of Merlin Properties, said that in the office sector, there is still “a lot of potential in Madrid” (…), but he highlights Málaga and Palma de Mallorca as the two cities where foreign investment is proving to be very important (…).
The property developers have been wise to it and so, in recent months, have started to launch promotions in Málaga. That is what Neinor Homes has done, which is offering several urbanisations in the capital, as well as some in nearby areas, such as Marbella and Estepona. In the same way, Quabit (…), has launched itself in the province with both single-family homes, and blocks of flats. Aedas Homes is not being left behind and is going to build Vanian Green Village, a housing complex in Estepona, another town that is growing in the capital’s shadow.
The boom in residential properties, both primary residences and holiday homes, has turned Málaga into a reference for the future of real estate. So much so that the data for the granting of new building permits soared in the province by 56.85% in 2018. In total, 7,678 permits were granted compared with 4,895 in 2017, according to data from the Official Architects College of Málaga (…).
Original story: La Información (by Lucía Gómez)
Translation: Carmel Drake