z THE PRO property
back to CONTENTS
Javi Az / Shutterstock.com
WHY THE COSTA DEL SOL REMAINS AN
As long as the sun continues to shine, the area of Southern Spain, and especially the Costa del Sol, will always have the ability to cast a spell on Northern Europeans who are becoming increasingly depressed with long harsh winters and unpredictable summers. WORDS SEAN WOOLLEY
OF CLOUD NINE SPAIN
T
he area between Málaga and Sotogrande has always been a holiday hotspot, with the resorts established in the 60s and 70s, such as Torremolinos and Fuengirola, home to a plethora of high-rise 3- and 4-star hotels, but the area further west, encompassing resorts and towns such as Mijas, Marbella, Estepona and Benahavís, offers a very different feel, with some of Europe’s very best hotels, together with some of the finest leisure, retail and sporting amenities available in the Mediterranean. This area, which receives an average of 320 days sunshine 152 / FEBRUARY/MARCH 2021
INVESTORS FAVOURITE IN 2021
per year, has become a magnet for second homeowners over the last 20 years, especially since the advent of low-cost air travel with the likes of EasyJet and Ryanair, which has created plentiful and great-value commuter routes from virtually every European city. Many of these property investors have taken the plunge entirely by moving to the Costa del Sol on a permanent basis, drawn by the outdoor lifestyle, highquality international schools and the improved connectivity and accessibility. The lockdown in 2020 has actually fuelled the already exiting desire of thousands more potential visitors and emigrés to Spain. Dispirited and depressed, most of the Northern European population is desperate for at least a holiday in the sun, and perhaps a longer stay! With the advent of home-working and flexible working practices, many people are seriously looking at basing themselves somewhere warmer
and with a better lifestyle on a full-time basis. After all, why work from home in Middlesbrough or Mannheim, when you can do so from the comfort of your own home in warm and welcoming Marbella?! 2021 could present a perfect scenario for property investors on the Costa del Sol. New development has been on hold for the last 12 months, meaning the market in the strongest and most affluent coastal areas has not experienced an over-supply of new stock. Property owners have refused to panic during the pandemic, meaning that, unlike the global financial recession of 2008-2012, there has been no significant downward drag on prices. Having said that, some much-needed price corrections have taken place which has brought the market back into more sensible pricing parameters. In terms of demand, 2020 saw consistent levels of interest from prospective buyers, especially
