The Ministry of Housing published recently the information of the number of transactions per council for the first quarter of 2018 with good news for Marbella and Benahavis. In both municipalities the number of sales increased when compared with the same quarter of 2017. These numbers, as commented lately, include only registered transactions but do not include the off-plan sales still not registered so they should be somewhat better. Going to each council, we may say that in Benahavis things are getting slightly better. If we look at the last 12 months, we are still seeing a reduction of 14% in the number of transactions but that number is now recovering. On the other side in Marbella, transactions are going up on a more consistent basis with an increase of 9,1% in the last 12 months.
In fact, we can appreciate that this improvements on the number of sales are bringing again a number of developers that are starting new projects all around Marbella and Benahavis and even more in Estepona. I think that is always good because it should reactivate the local economy, but I hope that this time we do it in a more controlled way, to avoid the mistakes we saw during the previous boom period already fifteen years ago.