So what is the current situation?
Based on information we have amassed over the last two decades (enquiries, viewings, sales, prices, etc.), and current figures from authoritative industry sources, it is clear there has been a significant upturn after the crisis years, including both number of sales and prices.
In some cases, prices fell to as low as they were at the turn of the millennium. At VIVA, for example, we have promoted new-build apartments from developers for less than €100,000 – which truly is an amazing price offer.
However, as the market has improved, prices have started to rise gradually. Having said that, there are still some great bargains available on the Costa del Sol, although be warned that they won't be around forever.
It is not just developers who have lowered their prices. Vendors keen to sell have also reduced prices by as much as 50 per cent compared with the peaks of 2006-2007 when the real estate market went into decline – for diverse reasons covered elsewhere on the VIVA site. (Incidentally, in our view the actual market reached its peak during 2004 and had a long slow slide through to its bottom.)