The Andalucían property market represents 20% of the Spanish property market. When we are talking about the Andalucían property market, we cannot neglect the overseas tourism market.
The final total of foreign tourists was 12,079,071 in 2019. This is a 3,4% growth in comparison to 2018.
I am sure you remember 2008 banking crisis. The difference now is that the pre-virus 2020 property market has got a more stable base.
The big questions today is: how quickly flights will restart and businesses re-open.
Here are some noteworthy stats about the Andalucían property market (Source: Kyero):
- House price index (Q1, 2020): 119,440. Annual change: 4.13%
- Total house sales (Q1, 2020): 22,544. Annual change: – 15.57% (Q1 2020). The quarterly change is -24.96%.
- Sales to international buyers (Q1, 2020): 16,46%. Annual change: 0.36% (Q1 2020)
La Cala Resort – €13.5 million project: 56 luxury apartments
Now let’s see La Cala Resort’s €13.5 million project! They will build 56 luxury apartments. This project is part of a €120 million plan to build more than 1,000 homes on the resort in 10 years.
This is a joint-venture between La Cala Resort’s owners, FBD Leisure, and leading property developer Taylor Wimpey.
The first phase delivery date for the Harmony Development is scheduled for the summer of 2022.
Director of Taylor Wimpey Spain, Ignacio Oslé, said:
“Despite the special circumstances that we have to live in, we are motivated to observe that there is still a real interest from the national and international public to acquire a new home in La Cala Resort. Even more so when the Resort offers a minimum density of housing, ample spaces for recreation, entertainment and sports for any family member.”