Last week, we spoke about the rise of Casares as a destination for real estate investment in 2017, which almost inevitably seems set to continue long into 2018. As for the rest of Málaga province, Tinsa’s “Vivienda en costa 2018” report gives a very favourable summary of its current status, and Part 2 of our analysis focuses on other – perhaps more traditional – areas of investment on the Costa del Sol…
Buying a second home, buying to let or acquiring an investment property to renovate and sell on are huge decisions anywhere in the world. Your principal concerns may very well be the potential appreciation of your asset, the attractiveness of the area to buyers and the quality of nearby urban centres and amenities.
There are few areas that offer the same prestige, peace of mind and near-immunity to adverse market fluctuations as the “Golden Triangle”.
For many years now, the western Costa del Sol’s affluent areas of Marbella, Estepona and (slightly inland) Benahavís have been given this label of the Golden Triangle due to the exclusivity of their addresses, the calibre of their restaurants, bars and high-end hangouts, and the international celebrities and millionnaires who buy up the most luxurious and extravagant real estate imaginable.
And this is still the case. Property in Marbella is still by far the most costly and the prestige of areas like the Golden Mile, Puerto Banús and La Zagaleta has not waned in spite of the financial crisis. According to property valuations experts Tinsa, property prices compared to maximum levels a decade ago show the second lowest devaluation in the entire province. In other words, real estate clings on to its value, making it a wise investment at any point in time.
Villas in these exclusive areas are still changing hands for several million euros and, in the case of Marbella, new build licences increased by 143% from 2016 to 2017 – which was double the average for Málaga province as a whole in that period. This translates as extremely high buyer confidence and a rosy outlook for continued investment in the area.
As for Estepona, it has grabbed its fair share of headlines in early 2018 due to its appeal to foreign buyers and subsequent commercial success in terms of property transactions in 2017. Tinsa’s report reiterates the surge in interest in the area, with total property purchases last year 26.6% more numerous than in 2016: over ten per cent higher than the average for the province.
Does the idea of owning a luxury property in the Golden Triangle appeal to you? VIVA’s Exclusive Development, Oasis de Guadalmina Baja, is between Marbella and Estepona, just a 10-minute walk to the beach and is set in one of the Golden Triangle’s most exclusive addresses!
For more information about these luxury 4 and 5 bedroom homes, visit our website here>>