While property prices in Spain fell on average by over 30% after the housing market crash, the affected areas reacted differently to the crisis. In many regions in Spain the prices lowered by as much as 70%. In other areas, like the Costa del Sol, they did not fall by as big a margin and they also stabilized faster.
Some parts of Spain have yet to reach the bottom of the market, while the Costa del Sol is on its way up again.
The fact that different regions in Spain are recovering at a different rate affects the average price, making it very hard for the foreign property buyer to determine the optimal value of a property in their preferred area. In prime locations like the Costa del Sol, property prices have started to climb again, so buying real estate in this area can be a good investment at this time.
Buy now, while prices are on the upswing
Selling property in the Costa del Sol for over 30 years now, Hiperprop has seen the rise and fall of property values. In recent years, prices were as low as they had been 10 years ago, but they have started to climb again. This means, property values are on the way up and there are still occasional bargains to be found. Buying now assures you a great future investment at a great price with the value of your property climbing in the near future.
Properties are now selling up to 50% faster compared to the previous year. This increase in demand will soon make your property more valuable. We can help you find the right property with the right potential for your budget while prices are still advantageous.
Where in the Costa del Sol is property value rising fastest?
Beachfront property is most popular among overseas buyers and for that reason prices along the coast are going up faster than further inland. Among the most sought after areas are Marbella, Mijas Costa, Fuengirola and Estepona. The increase in demand comes mainly from foreign buyers, especially the British, French, Belgian and Scandinavian, but since the introduction of the “Golden Visa”, interest in Spain has risen from other parts of the world. So if you are not looking for a short-term investment, you can get a nice property only a short drive away from the coast for a lot less money. The demand is also growing in inland areas and therefore prices are also expected to rise there.
Lower prices in Spain, but high benefits
Prices of property have not fully recovered yet and therefore there is a lot of potential growth in coming years. Property can still be purchased for relatively low and reasonable prices. Along with a healthy climate and high standard of healthcare, the benefits of living in the Costa del Sol are high and the cost is still low compared to many other countries.
Life expectancy and happiness are above average in Spain, and you don't have to pay extra for it. The general cost of living in Spain is low by comparison to the UK, Germany or France.
We care about your future
It is best to get the advice of a reliable real estate agency like Hiperprop when you go looking for property in Spain. We can give you expert advice on available properties and their future potential, and we have access to a large selection of real estate throughout the Costa del Sol area, which will save you valuable time.
We make it our mission to find you exactly what you are looking for, and we can offer you a list of independent and experienced property lawyers who can guide you through the whole process of buying your property in the Costa del Sol.