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The Costa del Sol continues, as it has done for
several years, to lead the way in both property price rises
and property development. Ministry of development figures
showed a 25% increase in prices on the Costa del Sol for the
year 2000. The average for the whole of Spain was 14.8%. New
developments continue to appear at an alarming rate and the
small gaps between front-line properties are being snapped up
by developers. On this part of the coast, a massive amount of
luxury town houses are being built.
The demand is now for high quality properties and
to satisfy demand, developers are building top-end villas in
the £200,000 to £250,000 price range. On the Costa del Sol
alone, during the year 2000, 70,000 new units were approved.
The Costa del Sol is thriving due to the influx of foreigners
and will continue to do so.
Mortgage demand is also on the increase, with
300.000 million pesetas being loaned during 2000.
This represents 23,000 mortgages compared to
22,000 in 1999. It is noted that many more
Spaniards are also buying properties now,
especially on the coast.
There are property 'hot-spots' on the Costa del
Sol and everywhere you look, you will find
communities of foreign residents who have bought
properties.
Some of the most popular resorts are;
Benalmadena
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Fuengirola
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Torremolinos
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Marbella
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Mijas
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Nerja
The Costa del Sol is also a good place to live if
you plan to work in Spain. There are many
job opportunities
or you could
buy a bar on the Costa del
Sol. |
