Falling values across the country have left the market full of bargains waiting for investors to snap them up. As the most popular area of Spain for tourists and buyers alike, the Costa del Sol is enjoying the biggest boost of all.
The cheapest single apartment in the Costa del Sol is located in Estepona. The two-bed apartment is located to the port and the marina, the main areas of the town. Estepona has built up a reputation over the years as a destination for discerning tourists, with its 21km of coastline and traditional culture. The cosy village is near the coast and just 20 minutes drive from Fuengirola, but the two-bed townhouse is a property in need of renovation: an investment project for those keen to stay away from the busier, more popular hotspots.
There are no points for guessing where the most expensive apartment is: Marbella is known throughout the world as a celebrity hotspot, a playground for the rich and famous. Marbella may be the most glamorous property market in Spain, but Estepona is equally prestigious. Even being home to the cheapest apartment in the Costa del Sol, its quieter nightlife and high-class restaurants add to an air of exclusivity.
Individual listings can shed interesting light on a property market, but for a general indicator of where to buy, average prices are more reliable. I live on the Costa del Sol since Mainly I am in Marbella or Nerja, so I write about everyting I think is interesting for expats like me. And perhaps the residents hold onto to most of the lower priced more affordable properties?
I would also imagine that the lower-end properties on good locations bring such a good return if they are rented out either as holiday home or long term that it just makes sense to keep it. Only data and graphs from official resources. Everything is easier to understand in an Infographic : Full article below.
Want to hare this Image On Your Site? Simply add this code :. The Spanish property market has fallen to a standstill situation, as the rest of the economy in most European countries, although it is expected to resume activity during , as the coronavirus crisis follows its natural course.
The recovery will be due to domestic demand by Spanish nationals and the holiday property market by European citizens. This could be one of the extraordinary measures that are now being implemented by the Spanish Government, to prevent that all new housing promotions suffer the consequences of a long term crisis. VAT is applied to the property so the reduction would benefit all buyers, regarding their nationality. The foreign holiday property market might be subject to high and low fluctuations as the crisis progresses during this year, once the movement restrictions are lifted.
Real Estate Agents are finding new innovative ways to keep customers interested and be ready to attract three types of customers, in an ideal scenario of a sudden rush in the property market:. Assuming that interest rates remain low for the time being and there is a lack of alternatives to make a return, the flow of money that goes towards the property market will remain high.
This will ensure stabilization of Spanish house prices in A good indicator of the evolution of the property market in Spain can be seen in the data showing the price per square meter.
This data can be used to forecast and predict the path of the Spanish housing market. As the graph below shows, the growth continues steadily into Our Properties in Spain.
According to the European Commission, the growth prediction for the Spanish economy in is 1. The unresolved political issues to be dealt with by a fragmented Parliament and the demands in Catalonia and the coronavirus Covid situation are factors that might influence the already weak global economy, in Europe and the rest of the world.
The construction sector in Spain seems to be moving once again. The supply of housing is still growing faster than the demand. This mainly applies to existing construction. There is much more housing supply on the market than the market can handle. The demand is growing slightly, but the supply is growing much faster. That is because, during the Spanish property crisis, sellers have been holding on for years, waiting for better times to sell their property. New construction is relatively expensive compared to the existing constructions.
That is also the reason that it is difficult to sell new homes. And even in new construction, supply is growing faster than the potential buyers market can handle. Do you know all the Spanish Property Taxes? Learn all about them in this 'easy to read' article. Property investment appears as a safe place for money, helped by low interest on Spanish mortgage rates, based mainly on the Euribor, now at While savings have not delivered any decent return for years, due to the same negative values.