Latest “Costa del Sol” property news
Property Mail talks with Property expert Peter Bowerman about the Costa del Sol property market.
During July & August, as expected the coast ignited with beach parties galore and millions of locals and holidaymakers flocked here to enjoy the Costa del Sol’s luxury lifestyle to the full. Now though, the coast returns to the more relaxed Mediterranean way of life, most ex-pats moved here for. It is normal for September to be one of our busiest times of year with buyers coming from all over Europe and despite Brexit, the British buyers are still narrowly leading the way followed by the French, Scandinavians and Belgians etc, all jostling for position behind them. All of them wanting to capitalise on Spain’s fabulous weather, healthy alfresco lifestyle, good infrastructure, steady economic
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recovery and flourishing property market. Tere are plenty of Brits viewing with us
now all looking to secure a Spanish home quickly and apply for residency before Brexit. Property prices continue to steadily increase at a sustainable rate as they have for the last five years, helped by significant international demand and affordable house prices. Statisticians and the banking community predict price increases to continue for the next few years at least. Foreign tourist numbers are still very high with their generous spending habits, highlighting the importance of tourism in Spain. Tis along with the shortage of quality long term and short term holiday rental properties along the coast, has led
to a large number of “Buy to Let” investors getting back into the market. Regarding BREXIT, When the referendum
result was announced, a lot of people were in shock. “What have we done?” and “How will it affect me?” Obviously, Brexit doesn’t really effect holiday home owners / buyers in Spain at all, as property ownership in Spain is nothing to do with the EU agreement. However, it did raise concerns for some UK expats currently living in Spain as well as many potential buyers wanting to move to Spain in the near future. Te UK government & the EU had already agreed that both UK & EU citizens living in each others regions would retain many of their current rights. Even
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