The Economic Analysts of Andalucia are charged with keeping an eye on the economy of the region and analyse the statistics over periods of time .

The press is full of unemployment , recession and economic crisis and they also occur in the latest report from this body .However there is a spark of hope for Malaga .It had a growth rate of 1.5 % last year and continues to lead the other eight Andalucian provinces whose average growth rate is 1.1 %.The gross regional product of Andalucia is expected to drop by 1.1% in 2009 .They feel that the drop will be felt less in Malaga , Seville and Cordoba .

There are more than 100,000 people unemployed in the construction industry at the moment and this will not improve as this is the sector worst hit at the moment .This figure is double that for 2008.

The EAA believes that the only way out of the crisis in the construction industry is to begin making the price of homes more realistic as they feel that they had become overpriced in the past .They think that the average house price in Andalucia must drop by at least 27% next year to get the market moving again .This they say should lead to a new period of growth .They feel that the light at the end of the tunnel will not be felt until the last quarter of 2009 .

For the moment the Costa del Sol does seem to be cushioned slightly as also is the Costa de la Luz and there has been an increase in overnight stays of 2.3 %.

Andalucia property

Costa del sol Property

Costa Blanca inland properties

Property in Spain