The Costa del Sol is one of the most important real estate regions in Spain, we tell you what are the new real estate trends in this region.
With more than 150 kilometres of coastline, it has become an ideal location for real estate investment, especially for those looking for property near the sea. However, to make an informed decision about investing in the region, it is important to take into account the state of the economy and real estate market trends.
The Spanish economy is currently experiencing solid growth after several years of economic recession. According to the National Statistics Institute (INE), the Spanish Gross Domestic Product (GDP) grew by 6.4% in the third quarter of 2021 compared to the same period last year. Furthermore, the Spanish real estate market has shown a steady recovery in recent years. In 2021, house prices increased by 3.6%, according to data from the General Council of Notaries.
In the case of the Costa del Sol, house prices have been rising steadily in recent years. According to data from the real estate agency Idealistthe average price of housing in the region in January 2022 was 2.664 per square metre. This value is higher than the national average price, which stands at 1,579 euros per square metre.
In terms of property market trends, the COVID-19 pandemic has led to a shift in demand for property on the Costa del Sol. In this sense, there has been an increase in demand for properties with outdoor spaces, such as gardens and terraces, as well as properties with swimming pools and sea views. In addition, the trend of teleworking has increased demand for properties in quieter residential areas away from the city centre.
In short, the The Spanish economy is in a period of steady growth, and the real estate market has experienced a gradual recovery in recent years. In the case of the Costa del Sol, the prices for housing prices have risen steadily and demand for properties with specific features, such as outdoor spaces and sea views, is expected to continue to increase in the near future. With this information, real estate investors can make informed investment decisions in the region.
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