2020 time to invest in the Costa del Sol
Property Mail talks with Property expert Peter Bowerman about the Costa del Sol property market.
W
hilst everyone is recovering from the over indulgence of Christmas, the Overseas
Dreams team are graſting away listing all the best properties from 80k bargains right up to the multi million euro villas all along the Costa del Sol. Typically, January is the month of preparation ready for the February to May period which is one of our busiest times of the year which sees a surge in sales. Why is the Costa del Sol still Europe’s favourite destination? Firstly, as the name would suggest, Costa del Sol (Sun Coast) has around 320 days of sunshine a year and an average annual temperature of 24.3°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.
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Why are so many Brits / Europeans investing in the Costa Del Sol again? Well, property is still one of the safest and most lucrative forms of investment available, oſten giving people a better nest egg when they retire from work, than a pension. History shows that with long term property investment, prices always go up, even with all the fluctuations in-between. Property prices in the UK and most Northern European countries have already caught up with their original pre crisis value and now offering very little capital growth for the near future. Te Spanish property market, however, is still around 20% lower than its pre crises values. Meaning if you buy in a popular location like the Costa del Sol now, while the prices are low, you could be looking at up to 20% 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 investors dream. Our typical buyer is aged between 40-60 years old and is already sitting on good equity in their residential property and now comfortable enough to invest in a second Spanish property for either personal use, “buy to let” or a bit of both. 2020 promises to be a busy and exciting year for Costa del Sol Real estate with investors from all over Europe flooding back to the Spanish property market, most looking in up and coming areas like the extremely sought aſter “La Cala De Mijas” and Marbella’s “Nueva Andalucia”, along with old favourites like Benalmadena and Estepona.
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