6 reasons to buy property on the Costa del Sol
Is a move to the Costa del Sol something that you are thinking about? Are you thinking about investing in a property on the Costa del Sol? If so, now is the time!
The current situation of the property market on the Costa del Sol is looking better than it has done for a number of years and it is said that it is a buyer’s market. Prices have begun to bottom out and are now starting to see a slight rise and with property prices up to 40% less than in its peak in 2007, taking action now could see you achieve your dream home for a lot less than you may think.
Some of the reasons why people move to the Costa del Sol are the long sunny days, the fantastic beaches, the sparkling clear waters of the Mediterranean which ensures a wealth of various water sports. There are over 50 excellent golf courses, fantastic fiestas and a lifestyle that cannot be matched anywhere else in the world.
People enjoy and love the areas climate, cuisine, culture, festivals, exploring the history of Andalucia and are often amazed by the breath-taking views found in the nature parks and reserves, the mountains and the lakes.
So why choose Costa del Sol property?
1. The location of the Costa del Sol
Malaga and the Costa del Sol are in a fantastic location for exploring beautiful region of Andalucia. There are two international airports within easy travelling distance, Malaga Costa del Sol and the airport in Gibraltar. There are great road links between the Costa del Sol beach resorts, towns and villages and the major cities of the region, Cordoba, Seville and Granada. There are good rail links from Fuengirola to Malaga with further links to the inland areas of the province as well as high speed links to cities such as Barcelona and Madrid.
Along with the beautiful beaches, natural parks, mountains for hiking and skiing and with more than 50 golf courses and a host of attractions historical, cultural and modern it is easy to see why the Costa del Sol and Malaga is the number one place in Spain for expats and property investors from all over Europe.
2. The cost of living
The Costa del Sol and Malaga are great value for money especially in recent months with the pound performing strongly against the euro. Monthly bills such as rubbish collection, local taxes, electricity, public transport and food are much cheaper. It is also less expensive to dine out with a three course lunch menu available from around 8 euros. Going out for drinks is much cheaper also and you receive larger measures and stronger beers. Many traditional establishments in Andalucia and particularly in the villages around the Costa del Sol and Malaga will offer you free tapas with your drink.
3. More property for your money
Across the Costa del Sol and Malaga there are many promotions for bank repossessions which offer great value for money. Many of these repossessions start at less than 100,000 euros but it is recommended that a careful approach is adopted with bank properties and you should always consult an expert. Banks are also competing in the mortgage market and are offering some fantastic deals at the present.
Many of the regions in Malaga and along the Costa del Sol are more affordable than many UK regions. The average price in Malaga for a 2 bed property is 199,500 euros. If areas such as Marbella or Sotogrande are more to your taste then your budget will have to be more than in other areas and these places have a higher premium. Check out our website to see what is in your price range and where.
4. Safe investment
Property prices along the Costa del Sol and Malaga are still considerably lower than its peak back in 2007 with around 40% being knocked off property prices during the economic crisis. In the past 12 – 18 months the market has begun to pick up making now a great time to invest.
A great investment opportunity in Malaga and the Costa del Sol is an investment in the buy to let market. These types of investments can bring in a nice little income and it is possible to rent a property throughout the year. This is down to the great facilities on offer and the fantastic all year round climate. The Costa del Sol region is the top holiday destination for many northern Europeans and especially with people from the UK making the rental market one of the best on the Mediterranean.
5. Great for all the family
No matter what your age, the Costa del Sol and Malaga is a great choice for all. Families that have children love the quality of schools from state run schools where children receive a Spanish education to independent international schools that follow the English curriculum. There is an abundance of leisure activities for all ages with numerous sports clubs, great theme parks, water parks and safari parks.
Spain is a safe place for children to play outside and enjoy an outside lifestyle and it is also a safe place for adults to enjoy the late night life with many bars and restaurants being open past midnight. At weekends it is not unusual to see the bars and cafes full of families until the early hours enjoying the warm evenings which is a great way for you and your children to make new friends.
6. The quality of life
The Costa del Sol and Malaga offer great property prices, with potential rental incomes, top transport links, quality sports facilities especially for golf and water sports, amazing beaches and a diverse coastline. Also in this area you will enjoy a top class quality of life.
The Mediterranean cuisine is one of the healthiest diets in the world and is rich in fish, fresh fruit and vegetables, salads, pulses and olive oil. There are many sporting activities to choose from; a walk along the beach or a hike in the mountains or around the lakes on one of the various trails available and with the 320 days of sunshine the region has each year, living on the Costa del Sol can be very beneficial to your health.