According to a recent study by a prominent Spanish property developer, the Costa del Sol is the region in Spain where the highest proportion of new build homebuyers make their purchase in order to secure a holiday home…
In fact, with 77% of new build property purchasers buying for this reason, the figure for the Costa del Sol is a shade over 4 times the national average of 19%.
The Costa del Sol eclipses the percentages registered by Barcelona (4.9%), Sevilla (1.6%) and Madrid (1.3%), while the study also shows that the Levante coast came second with 28.3% of new build purchasers buying as a second home.
As well as a generic recovery for the Spanish construction sector and an ever-increasing number of new build projects being carried out, which prove that work volumes are once again on the recovery back towards pre-crisis levels, the demographic of this type of buyer is a key factor in explaining the trend.
75% of new build homebuyers on the Costa del Sol are from northern Europe – whose inhabitants have been flocking to the Coast’s golden beaches for decades – so it should come as no surprise that an increasing number of second homes are being snapped up by this clientele.
Other than buying to own a holiday home on Andalucía’s Mediterranean shores, the data suggests that 13.5% of the new build demand is for year-round occupancy, while 5.4% intend to use their brand-new Costa del Sol home as an investment property.
If you’re reading this and want to find out what mouth-watering new build developments we have on the Costa del Sol, as a second home or otherwise, click here>>