25 May 2017 – El Economista
The Costa del Sol is the stretch of the Mediterranean coast where the largest number of new homes for sale can be found, according to a report prepared by ST Sociedad de Tasación, which analyses a total of 67 towns along the coasts of Girona, Tarragona, Alicante, Murcia and Málaga.
ST has analysed 456 new housing developments in total and has identified 5,594 units for sale, along the five coasts analysed. According to the study, the average price of these homes amounts to €210,760.
In fact, the study shows that the coasts that are located towards the South of Spain have the most homes up for sale, compared with the coasts located towards the North, and it reveals that the Málagan coast has a total of 2,482 new homes on the market.
Specifically, the report highlights that along the Costa Brava, Dorada, Blanca, Cálida and del Sol, there are 5,594 new housing units in total, however, they are not distributed in a homogeneous way along these coastlines. In addition to the homes in Málaga, the other dwellings are located in Alicante (2,100 homes), Tarragona (378 homes), Murcia (345 homes) and Girona (279 homes).
ST also said that the supply is unequal within these coastal regions and that Murcia and Málaga are the areas where the available housing supply is distributed in the most balanced way.
The pending supply for sale does not exceed 70% of the properties developed, although that percentage is higher in Altafulla, Cambrils and Cunil, all towns in Tarragona. Along the coasts of Girona and Alicante, only two towns in each one, Blanes and Finestrat, have a volume of supply that is similar to these towns.
The study reflects that there are four coasts with an average house price of between €150,000 and €200,000, whilst in the case of the Costa del Sol, that figure soars to €353,000.
Although on the Costa Dorada and the Costa Cálida, there is not a single dwelling being sold for €500,000, on the Costa del Sol, 287 homes are on the market for that price, accounting for 12% of the total. Moreover, that figure decreases to 4% in the case of the Costa Blanca and 2% on the Costa Brava.
The average surface area of the homes for sale is 112 m2. Nevertheless, the homes on the Costa del Sol exceed that average (145 m2). Meanwhile, the towns on the Costa Brava (100 m2) offer the smallest homes in general, followed by those on the Costa Blanca (102 m2) and the Costa Brava (103 m2).
In terms of the type of home, only 60% of the dwellings on each coast are family homes and almost none of the properties are studios (i.e. few have no bedrooms), given that most homes typically have one or two bedrooms.
Taking into consideration the construction status of the homes, ST has recorded that the majority (60%) of the properties up for sale have already been completed, more than 25% are still under construction and 10% have not been started yet.
Original story: El Economista
Translation: Carmel Drake
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