Spanish Property developer Taylor Wimpey Espana has revealed it believes 2023 is a good time to buy property in Spain – in particular, on the Costa del Sol.
It’s a well-known fact that the Spanish property market was hit hard by the recession, and this resulted in asking prices on the Costa del Sol, which plays host to the tourist hotspot of Marbella, dropping by 30 per cent.
However, agents and developers in the region state that the Costa del Sol’s property market is beginning to show signs of life once again – and this is why now could be a good time to invest.
Ignacio Osle, sales director of Taylor Wimpey Espana, said: “In the first quarter of 2023, enquiries made by foreign buyers at our office on the Costa del Sol went up by 43 per cent, certainly an encouraging sign.”
Spain’s Ministry of Development has reported that 14 per cent of the property transactions made in the province of Malaga (where the Costa del Sol is located) at the end of 2023 were by overseas buyers.
In terms of where those foreign investors come from, Taylor Wimpey Espana has observed that Britons, Russians and Scandinavians are expressing the most interest in buying holiday homes on the Costa del Sol.
So why buy there? The Costa del Sol has always been a popular choice for Brits seeking their perfect holiday home – not least due to the 300 days of sunshine it gets each year. The cost of living is low too, with food, alcohol and everyday items like sunshine being far cheaper than they are in the UK.
The region also features designer shopping opportunities, Michelin-starred restaurants, nature reserves, spas and endless beaches. Even in the winter there’s plenty to do – including skiing in the Sierra Nevada mountains, if snow sports are your thing.
In short, if you’ve always toyed with the idea of investing in your own place in the sun, the Costa del Sol could be the ideal location.
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