The housing market on the Costa del Sol is in full “recovery”, with Marbella, Mijas and Fuengirola among the five coastal towns that sell the most in Spain.
The valuation company Tinsa has again positioned the Costa del Sol among the Spanish coastal areas where there is a greater housing market recovery, with a sustained increase in purchases and prices and an increase of new construction projects. Their report “Housing on the coast 2018”, places the entire Costa del Sol in “Clear recovery”, along with some stretches of Alicante, Barcelona and Cádiz. The area between Marbella and Manilva was the first to be reactivated some three years ago, followed by the area between Torremolinos and Mijas.
The importance of this stretch of coast is reflected in the fact that three locations are placed within the top five spanish coasts (excluding those that are provincial capitals) with the highest number of home purchases and sales in 2017. Marbella is positioned third in the ranking with 4,285 operations in 2017 after Torrevieja (Alicante) with 5,084, and Alicante’s Orihuela (4,297). Mijas is fourth with 2,907 and Estepona fifth with 2,681. Benalmádena, sixth, registered 2,145 purchases. The average sale period for houses that are currently on sale is seven and a half months, a period shorter than that of previous years. Foreign buyers account for 33.5% of total of operations, with British, German and Scandinavian among the main customers. The percentage is lower than the previous year (37%), which reflects greater activity from Spanish buyers.
The Costa del Sol municipalities analysed in the report recorded average price increases of over 4% between the first quarter of 2017 and 2018, with the exception of Marbella, which has remained stable in this period (-0, 2%). Mijas however experienced a sharp growth of 13.4%.
Expectations about the foreseeable evolution of prices in the holiday home market in Andalusia for the next months are optimistic. In all the areas analysed, prices are expected to increase this year, with the exception of Algeciras and Chiclana, where they are likely to stabilise.
Siesta Homes is promoting 2 beautiful developments along the Costa del Sol for buyers looking to invest in Spain. After great success with similar projects such as the Aloha Hill Club in Marbella, buyers looking to invest in The Suites at La Cala Hill Club and The Oakhill can expect high quality living and incomparable services. Siesta Homes has a proud philosophy of always offering more and these two development are no exception. For more information about these stylish developments please contact Siesta Homes on +34 951 204 324 or visit the development websites, lacalahillclub.com and oakhillmarbella.com.