According to Premier Marbella news sources, there are signs of a new property boom on the Costa del Sol. The residential market of the coast of Malaga bottomed out in 2011 and began to bounce back as early as 2012, two years earlier than the rest of Spain. With the avalanche of foreign tourism, Marbella and surroundings are the front runners. This new property boom has been led almost exclusively by international investors and buyers. This bullish path has been consolidated and the sales that in the whole of Spain grew by 14.6% in 2017, the largest increase since 2007 have soared in the municipalities of Costa del Sol, with cases such as Malaga capital (27.9%) or Estepona (26.6%), which almost double the average, according to Tinsa data.
Málaga, Marbella, Mijas, Estepona and Benalmádena lead in property transactions along the Andalusian coast, with 7,041, 4,285, 2,907, 2,681 and 2,115 homes sold last year. And the forecast is to continue the rise as real estate experts and banks agree that we are on the threshold of a new property boom for the real estate sector that will last, at least, until 2022. These expectations are reflected in the large number of residential projects that are entering the Malaga littoral market. It is estimated that currently there are more than 200 new construction projects on the Costa del Sol and around 11,000 homes for sale, which will be delivered in the coming years. The projects are driven by developers or foreign funds and also by local companies with their own funds or associated with other investors.
Leading Marbella property specialist Romano Keogh commented on the new property boom that the Costa del Sol is experiencing. The buyers in a very high percentage are international and the Scandinavians (Swedes, Finns and Norwegians) have taken the lead and are the top purchases of homes on the Costa del Sol. On the whole, they are the main players in this market together with Danes, Belgians, French, Germans and Dutch. The British are very affected by the Brexit, but they continue with a habitual presence and there are also Russian and Middle Eastern buyers.
Premier Marbella, offering over 25 years of dedicated service to the Marbella property sector, specialists in luxury properties, villas and apartments for sale in Marbella, The Golden Mile and other areas of the Costa del Sol.