The Costa del Sol is one of the most prestigious property markets in Spain, with its stunning coastal scenery and luxurious resorts. It attracts buyers from all over the world and offers a plethora of properties to choose from, with many of them offering luxury amenities such as swimming pools and home automation systems. However, the price tags associated with these homes often exceed what some buyers can afford.
This is why savvy buyers need to do some research to find the best properties at the right prices. By understanding the key factors that influence the property market costa del sol, buyers can make smart choices when buying a new home.
According to property website Idealista, the Costa del Sol is experiencing a real estate boom with sales well above pre-pandemic levels and prices at record highs. This is due to increased demand from both Spanish and foreign buyers, as well as a lack of supply. Moreover, a growing number of buyers are looking for something extra in their homes, such as sports areas or home automation systems. This has also contributed to price increases, with the average square metre asking price in some municipalities hitting new records.
In terms of specific locations, the Costa del Sol saw some of the most impressive upticks in both sales and prices last year, mainly in Marbella, Estepona, and Sotogrande. In fact, in Marbella, the number of property transactions jumped 80.4% year-on-year, while in Estepona and Sotogrande the increase was even more marked at 74.6% and 62.2%, respectively. In total, Costa del Sol sales were up by 42.2% in 2021, making it the fifth-busiest property market in the country. property sales costa del sol