The Costa del Sol’s property market is on a remarkable upswing, with a staggering 7.6% growth in 2023. Let’s delve into the latest trends and factors behind this flourishing real estate landscape.
- Property prices in Costa del Sol rose by 7.6% in 2023, averaging €1,977 per square meter.
- Marbella is the most expensive place to buy property in the region, with an average valuation of €3,343 per square metre.
- Benalmadena, Estepona, Fuengirola, Mijas, and Torremolinos all have average property prices exceeding €2,000 per square metre.
- Foreign buyers account for a significant 34% of the market, reflecting international interest in Costa del Sol real estate.
- Over 35,500 property transactions occurred in the region in 2023, making it the fifth busiest market in Spain.
- Luxury properties are prevalent, with 35% priced over €1 million and a notable concentration in the ‘Golden Triangle.’
- The golf property market is booming, attracting enthusiasts and investors alike.
- Property prices in Marbella and Estepona have seen substantial increases in the past two years.
- Experts predict a further 7% rise in residential house prices in Spain for 2024.
- Spain’s robust economy continues to drive demand for real estate in the region.
In conclusion, the remarkable growth in the Costa del Sol property market has garnered attention, and it is widely perceived that prices on the Costa Blanca will similarly rise, driven by the expanding golf market, making it an appealing prospect for both investors and homebuyers.
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