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Is Another Property Bubble Possible? Almería Reaches Housing Sales Levels Not Seen Since 2007

The housing market in Almería is experiencing its best moment in almost two decades, maintaining a steady pace with over 1,500 sales per month, approaching the record highs of 2007.


However, expert analysts rule out the possibility of the province facing a new financial bubble, as the rigid mortgage market and the absolute dominance of the resale market create a radically different scenario from the one that triggered the previous crisis.


The sector's strength is confirmed by a volume of 1,569 transactions in July, bringing the annual average to 1,532 and showing year-on-year growth of over 30%.


The Key Difference: A Stable, Resale-Driven Market


The structural profile of the current market is the key difference between this boom and the speculation of two decades ago.


  • Strict Financial Criteria: Banks apply strict criteria, require considerable upfront savings, and rigorously control risk, preventing the easy credit that characterized the 2007 boom.

  • Resale Dominance: Currently, three out of every four homes sold in the province are resale properties, demonstrating that the market is driven by the genuine needs of the population in the Almería region, and not by expectations of quick resale or off-plan speculation.

  • New Build in Secondary Role: With 1,140 transactions involving resale homes compared to only 429 new builds, new construction accounts for barely 27% of total sales. This structural shift confirms that the focus is on renovating and acquiring existing properties, relegating new developments to a secondary role in the Almería market.


Prices Soar in the Capital, Creating a Historic Gap


While sales volume is growing, so is the pressure on prices in the capital. The average price of housing has risen 9.8% year-on-year, with values reaching record highs in expanding areas like Vega de Acá, where it stands at €2,359 m2. Meanwhile, established areas like El Zapillo are registering €2,084 m2.


  • Highest vs. Lowest: This situation has created the largest urban price gap in the last decade. The price per square meter in La Chanca-Pescadería is €563 m2, far below the prices in the expansion zone.

  • Capital Average: Across the capital, the average price reaches €1,641 m2, a clear sign that buying pressure is shifting to areas with still affordable prices.


Coastal Regions Set the Pace for Provincial Growth


The province of Almería is experiencing an even more intense price surge than the capital, reaching an average value of €1,442 m2, which is 12.7% higher than in September 2014 and the highest value since 2010. This strong push comes directly from the Levante and Poniente regions.


  • Levante Highlights: In the Levante region, the municipality of Vera has seen a 33% increase in just one year, reaching €2,193 m2. The municipality of San Juan de los Terreros has the highest price in the region at €2,551 m2.

  • Poniente Highlights: In the western part of Almería province, Roquetas de Mar saw a 16.% increase, reaching €1,543 m2, while Aguadulce matched its all-time high at €1,897 m2

  • Tourist Peak: Within the Cabo de Gata Natural Park, San José (Níjar) set the absolute provincial peak at €2,867 m2, driven by second homes and tourist accommodation.


💡 Andamara: Securing Your Investment in the Resale Market Boom


The market’s current boom is not driven by reckless speculation but by genuine demand, making this a period of sustained growth for investors focused on the resale and high-demand coastal markets.


This is where Andamara become your crucial strategic guide:


  • Navigating Resale: Given that three out of four sales are resale properties, our expertise is vital for verifying the legal status of older homes. Our legal team conducts meticulous Verificación Legal y Administrativa (checking for debts, charges, and urbanistic compliance).

  • Full-Spectrum Service: We provide comprehensive support across the entire transaction, from searching and negotiating prices to 360° Legal and Post-Purchase Services.

  • Relocation & Tax Security: For international buyers, we manage essential steps like obtaining the NIE, providing Fiscal Guidance, and handling the change of utilities post-purchase, ensuring a secure move, whether to the booming coast (Vera) or the more affordable capital neighborhoods.


Don't navigate this complex, high-growth market alone. Partner with Andamara to secure your investment with confidence.


 
 
 

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