Costa del Sol is the investment epicenter of luxury Real Estate
Since 2015 the housing market on Costa Del Sol experiences steady and stable growth. In particular, demand for the Real Estate on this coast sharply increased, has become a synonym of investments into the elite real estate of Spain.
The great demand caused price tension in some areas of the coast and first of all in “A gold triangle” Marbella – Estepona – Benahavis. Where at the moment there is nothing cheaper than €250.000 as the average price fluctuates from this base to half a million euro. While it’s possible to find offers of apartments from €150.000 in less “prestigious” areas. The rent price also grew by 40% in comparison with previous year.
The presence of the foreign investor.
Substantially the effect of foreign tourism which growth steadily grows affected.What do investments to the real estate of the market attractive in the short-term and medium term.
According to experts, the coast Costa Del Sol was the first real estate market that began to recover from crisis thanks to the active interest of the foreign buyer. At all difficulties and uncertainty with “Brexit” British buyers keep being leaders of demand. The interest of buyers from Russia, Ukraine and Kazakhstan does not weaken. Clients from Switzerland, Belgium, Germany, France, and many other countries don’t stay behind.
Marbella, Benavis and Estepona are the leaders of the sales.
It’s worth to remember that the Real Estate on Costa Del Sol is a synonym of prestige and luxury. The zone Marbella, Benavis and Estepona exceeded real estate sales volume for 26.6% in 2018 whereas in the rest of Spain it remains still lower than 14%.
Having concentrated attention on these three municipalities, it is possible to notice some of their features. Estepona increased sales volume in the previous year by 28.3%, and Marbella only for 6.9%. It coherently first of all with the fact that for investors in Estepona and in Benahavis there are much more attractive sites under new building land value lower, undergoes coordination with administration quickly and without delays. And as the result, apartments and country houses in modern style which are in the greatest demand now are offered at more attractive prices.