Costa del Sol Property – The Latest Market Update

One of the questions people often ask is, “Who actually calls the bottom of the property market?” The answer is, almost certainly, those at the forefront of the market, such as VIVA… 

We see activity and trends in real time – as they happen. Journalists and commentators, on the other hand, only report on these trends as information filters through to them, sometimes between six and 12 months later.

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.)

In conclusion... 

  • Are prices still falling?

No, perhaps with the exception of isolated areas in Spain, well away from such residential-tourist hotspots as the Costa del Sol, where issues other than the crisis and subsequent recovery come into play. 

  • Is now a good time to buy property on the Costa del Sol?

Yes, unquestionably. Only for the right person, however, and in the right circumstances: when the property is affordable and the price is right, when it is suitable for its purpose, and when it represents a clear and simple investment that will generate equity growth over the years.

If you would like to know more about the current market, or contact us for information related to our own property portfolio and services...

THE VIVA BLOG

Would you like to find the property that's perfect for you?

This site uses cookies... Cookies are small files that help improve your experience on our site. By browsing our site you are agreeing to our use of cookies. Find out about cookies here Accept & Close

Find a Property

Share

Want to know more? Ask me

Sophia Mertens

Sophia Mertens
Customer Services

Spain +34 951 272 743
Freephone UK 0808 168 1469

Schedule a visit and the VIVA team will do the rest!

Sophia Mertens

Sophia Mertens
Customer Services

Want to know more? Ask me

Sophia Mertens

Sophia Mertens
Customer Services

Discover home trends on the Costa del Sol

My Account


Create an Account

Reset Your Password

Enter your email address and we will send it to you:


Subscribe