Residential Real Estate Developers Pull Back in Malaga

14 July 2019 – Richard D. K. Turner

Residential real estate developers in Malaga have significantly scaled back their operations after several years of continual growth. In the first semester of 2019, those developers registered 3,901 new homes in Malaga, a fall of 4.9% year on year. The fall stemmed entirely from a sharp cutback in the second quarter, with just 1,752 projected units, down 31% y-o-y.

Francisco Sarabia, the dean of the Malaga’s College of Architects, blames the sharp retraction on short-term factors, possibly due to seasonality. Juan Manuel Rosillo, the president of the Malaga Association of Builders and Developers (ACP) also downplayed the data, stating that the fluctuation was likely due to seasonality or the current election.

The main decline was also largely focused on the provincial capital of Malaga. Development continued unabated in other, smaller cities, including Estepona and Vélez Malaga.

Original Story: Málaga Hoy – Ángel Recio