Property Sales Rebound

Whilst the Pandemic has had devastating consequences for many sectors, such as the hotel/catering sectors, others have either not been affected or have bloomed.

GRA Comarcas de GranadaOne sector that did not suffer so much but has since gone on in leaps and bounds is the housing market, according to figures produced by the Instituto Nacional de Estadística (INE) for so far this year.

These figures show that this sector is doing better than in the pre-pandemic year of 2019 during the same period; i.e., first five months of the year.

There have been 4,645 property-purchase transactions since the 1st of January this year just within the province of Granada, whereas last year it was 4,629 – OK the difference is minimal but even if it were identical, it would be a good reason to be optimistic about the immediate future if you are thinking about buying or selling a property.

In fact, it is the best first half of a year since 2008, when the real-estate business was still on steroids at the end of the building boom when there had been 6,622 sale/purchase transactions in Granada – banks didn’t start to have problems until the start of summer 2008

However, who knows what the next few months could bring, because whereas many were aware that the building boom was about to pop, the arrival of a pandemic suprised everybody, except for those that think that it’s all a lie.

It’s not just the province of Granada because of the eight provinces within Andalucía only Málaga didn’t manage to beat the figures for the first five months of pre-pandemic 2019. Málaga has the largest extension (204.1 sq/km) but only has the the second largest population, 1,625,827 – Sevilla, which is the capital of Andalucía, has a larger population but is more confined, 1,928,962.

Why has Málaga, with its 102 municipalities, had fewer real-estate transactions? That could have something to do with its large, foreign, property-owning population unable to come out and foreign 2nd-home hopefuls unable to view properties. Who knows?

(News: Granada, Andalucia)

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