Property sales in the Costa del Sol have increased every month over the last two years.
Working as a property investment advisor and qualified senior surveyor in the Costa del Sol and the UK, I have seen a positive change in the property market over the last three years.
Throughout 2014, property sales on the Costa del Sol were already showing signs of recovery, with increases in month on month property sales compared to the same months in 2013, but the key question at the time was: would prices fall further and is this a sustainable recovery?
Fast forward to the third quarter of 2015, and I can give you the answer to the question: property prices have now stabilised and the recovery has proved to be sustainable. Great news for the Costa del Sol and everyone working in the real estate business.
In fact, not only has the Costa del Sol property market proved sustainable but 2015 month on month property sales’ figures show an increase on the same monthly figures in 2014, according to the National Institute for Statistics.
The Costa del Sol is also leading the way in Spain on property sales, buyers’ confidence is high and the Spanish economy is now the fourth economy in Europe based on GDP.
The improved economics of Spain is attracting more and more international investors and international developers who are buying land along the coast from banks and landowners, and this trend should continue in 2016.
With the increase of buyers coming to the Costa del Sol we are now seeing an increase in the revitalisation of developments that have been dormant and are now being completed and offered for sale, such as in the Puerto Banus area and Las Terrazas de Cortesin luxury development.
However, the majority of properties on the Costa del Sol on sale today are existing properties of all types. From two bedroom apartments starting at around €150,000, to villas from around €1 million.