In 2018 the positive evolution of the sector continues, although we could not yet talk about recovery, more so when construction has been one of the great victims of the last economic crisis. Throughout the year, the College of Architects saw 7,678 homes in Malaga, of which 2,206 were approvals in Malaga capital, resulting in a 54% increase compared to last year.
From the available data it can be seen that, together, in the last twelve years the construction of housing in Malaga has gone through different stages, with continued growth from 1996 to 2003, a stagnation between 2004 and 2006, and a drastic fall from 2007 to 2014. A slow recovery begins thereafter.
The aforementioned sector revival is general in all types of projects. In the case of Protected Housing (VPO), there are 290 visa projects, of which 224 are concentrated in Malaga capital. This is much higher than the 118 that were approved in this type of construction last year.
From the data presented, we can say that the new construction market is the one that is acting as the engine of the recovery, although so far, the sale of second-hand homes has maintained the upward pace and is leading the market.
Homes visas in Malaga 2002-2017
Source: Prepared by the authors based on data from the Official College of Architects of Malaga.
Real State purchased by foreigners
Considering the sales per thousand inhabitants, Malaga continues to remain among the main provinces of Spain where the most real estate transactions were made by foreigners in 2018.
The 9,235 units sold to foreigners in Malaga accounted for 28% of the total homes sold.
As for the provenance of the buyers, it continues to lead the Great Britain ranking, followed by other countries such as France, Germany or Belgium. As last year, there is a clear consolidation of the geographical preferences of foreign homebuyers: the Costa del Sol is shaping up as the target of most of the operations reviewed.
(Data Ministry Development)
Civil works, investment and public tenders
In the Andalusia, works amounting to EUR 1,962 million were tendered in 2018, almost twice that of the previous year.
With regard to Malaga, the total investment in our province stood at 292.19 million euros. This amount represents a small increase of 4.9% compared to last year, in which there was an investment of 278.48 million.
By administrations, the largest volume of tenders is carried out by the local administration with 174 million euros, followed by the regional with 83 million euros and, finally, and with a significant fall, the state with 34 million euros.
The evolution of the number of tenders in the province during the period 2017-2018, from the three Administrations, can be seen in the table below.
|BIDDINGS||Año 2017||Año 2018||%|
Source: Association of Builders and Promoters (ACP).