2019 Time to Invest in Costa del Sol T
Property expert Peter Bowerman looks at the 2019 Costa del Sol property market.
he Costa del Sol is still Europe’s favourite destination and as the name would suggest, Costa
del Sol (Sun Coast) has around 320 days of sunshine a year and an average temperature of 20°C. Having one of the best microclimates on the planet means beautiful long summer evenings spent outside, lazy days on the sandy beaches and an incredible lifestyle with beautiful Marinas, chic designer shops, traditional Spanish Tapas bars serving fine Spanish wines and glamorous seafront restaurants with their Michelin star Chefs. Enquiries and sales during January were good, which bodes well for this February to May period, which is historically always one of our busiest times of year for sales. So why should you invest in the Costa Del Sol? Well, property is still one of the safest and most lucrative forms of investment available, oſten giving people a better nest
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egg when they retire from work, than a pension. If you buy in Spain now, while the prices are low, you could be looking at up to 30% capital growth when the prices return to their original values. But it’s not just the increased value that you can enjoy, many buyers are subsidising mortgage costs by renting their property out during the months they are not using it, which is every property investor’s dream. History shows that with long term property investment, prices always go up, even with all the fluctuations in-between. Another important factor for the Costa del Sol property market is that property prices in most Northern European Countries including the UK, have already caught up with their original pre crisis market value and there is hardly any further growth expected in the near future. In fact, many first-time buyers have been priced out of their local market altogether and some are
now purchasing their first home in Spain as a “buy to let” investment. Our typical Buyer, however, is aged between 45-55 years old, from the UK or Scandinavia and is already sitting on good equity in their residential property and comfortable enough to now invest in the Spanish property market, which is set to blossom once again. Brexit is very unlikely to cause much change for British buyers looking for a holiday home in Spain, but Brits looking to move permanently in the very near future might want to take advantage of applying for residency while the UK is still in Europe. It’s currently very easy to get Spanish residency as a European citizen, but nobody knows what conditions would need to be met by Brits aſter Brexit. At the moment you have until the end of March to register and we have a list of the best English speaking Lawyers along the coast
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