British have been the main buyers in the region for years, but they have their favorite zones as well
The British have had a long history with the Costa del Sol dating from the years 60`s, and although for a while the relationship seemed to have cooled, the English seem to have lost interest in the region. Part of this is confirmed by the increased buying that occurred between 2013 and 2014 where property purchases by citizens of this nationality grew by 27%, ie, buying properties on the Malaga Coast by these is reactivating and seeks to maintain over time.
What is the origin of the British tradition by investing in Costa del Sol?
As stated earlier, this coast has been popular with British as a tourist destination and real estate investment since the 60`s. Therefore, the generation of baby boomers and generation Z children or adolescents spent their summers in the region, seeking to revive the same past experiences with family, or want to come to reminisce the time of his youth during his retirement. Therefore one could say that is almost a love affair between the British and Spain.
The climate of Spain that offers not so hot summers and mild winters compared to the English climate, makes it perfect to come to invest in Costa del Sol, as also the cost of buying a property and living in Spain is much cheaper than in the UK, for this reason, many retirees come to the country, making their pension pay much more than being in your home country or elsewhere.
The villas, which are preferred by the British have lower prices compared to the properties that are available in England, and in addition, these retirees have the facility that can sell your home free mortgage to buy your villa in Marbella or some other area of the region, and still continue to have money to enjoy retirement, that is why many people prefer to sell their properties to these citizens.
Why prefer the Costa del Sol?
The British prefer to buy in this region than anywhere else in Spain, since the prices of the properties despite the economic crisis, remained stable, and today presented a positive performance in contrast to the rest of the country. In addition to the economic advantages that exist by investing in the Costa del Sol, properties and infrastructure of these stand out in Europe, also it has excellent highways, public transportation, and Malaga airport is just 30 minutes by car, with airlines low Cost providing cheap flights to major cities in the UK. To this is added, the shops, restaurants, parks and recreation centers, and of course, the beach, so it is almost impossible to get bored on the Costa del Golf.
Now then present the areas of the region which are preferred by the British to invest in real estate:
It is the beach area, located on the edge of the coastline, as Guadalmina Alta is separated by the homonymous river, and also serves as a border between the towns of Marbella and Estepona.
Guadalmina Baja has a privileged location being close to both Puerto Banus and Estepona and San Pedro de Alcantara. The resort began its development since the 60s and was revived in the 80s, and continues until now. To this it is added that owns a golf club belonging to Hotel Guadalmina which overlooks the sea.
Most properties in the area is large mansions and luxury villas are priced at several million euros. Other smaller properties can also be found, near 8th Street, with prices starting from 450,000 euros. If what you want is an apartment, like most buildings are in lane 3.
Guadalmina has a homonym beach of a total of 1.6 kilometers long with typical golden sands region, and allow the water sports such as windsurfing and jetski. On the beach there are two clubs and two bars for those who want to dance and eat, always with first aid kits, coast guard, toilets and showers perfect for family use and has a blue flag since 1992 for its quality.
It is located east of Marbella, and is the area preferred by the British. This is a residential area with large green spaces that lead to the beach, so much of buyers choose it because it is easy to access and walking or by car. It also has 2 golf clubs, these are Santa Maria and Elviria Hills. It is also the site where the most important nightclubs of the city that are located on the beach, including Nikki Beach.
Elviria is different from the above-mentioned areas of Marbella, since it is not characterized by luxury and not be so exclusive, which helps the prices are a bit lower and accessible to buyers. Prices in the area generally ranging between 200,000 euros and 700,000 euros for 3-room apartments that are among the most sought after by family groups.
Marbella offers investors a wide variety to choose the kind of property they want. However, speaking of Marbella we speak of luxury and exclusivity in properties, so the areas selling are central and large turnout as Puerto Banus or the Golden Mile, and Guadalmana where you can find some of the most sumptuous properties region, such as mansions and luxury villas. Other areas tend to be more residential and Nueva Andalucía and Elviria are some of the favorite of British citizens.
This is one of the favorite British buyers, who are the biggest investors across the Costa del Sol. Nueva Andalucía can be considered an extension of Puerto Banus with a tendency to be more residential according to real estate specialists. in addition to three golf courses account, which attracts many visitors and tourists who help the reputation of Marbella to be known as the Costa del Golf too. These fields are Los Naranjos, Aloha and Las Brisas, all located close to each other, and are the reeason of that Nueva Andalucía is also called the Villa del Golf.
Notably, entertainment sites in Nueva Andalucía, are aimed at foreign investors or immigrants in general, and is very close to Puerto Banus, but without being surrounded by the noise, traffic and crowds that characterize the port .
Currently available in the area are second-hand properties, or resale, since building land is scarce. The price of the properties can be very variable, and you can get property for 260 thousand euros, but if we move to the built in valleys of the golf villas, can reach up to 585 thousand euros.
Nueva Andalucía also has a beach near Puerto Banus cone 1 kilometer long, 4 beach clubs, 6 bars and even swimming pools within the clubs. Also it has bathrooms, showers and lifeguards for your safety and your children.
Characterized by being a small town, he has managed to keep his past, taking care of their history and traditions. It is located on the Mediterranean coast, and has everything needed to accommodate large numbers of tourists, but only expect a small population of 70 thousand people. Numerous hotels, restaurants and activities that are available to perform in the city.
To compete with its neighbors in the Costa del Sol, Estepona has its own area where most luxury 5-star hotels and busiest beach bars throughout the city are to have fun during the day and night. Of course, more luxurious properties are in this new Golden Mile, located largely off the beaches.
You can get apartments from 150,000 euros in two rooms, and depending on your room, can reach 200 thousand euros. The town houses are also quite in demand in the region, and its price can be around 200 thousand euros and 450 thousand euros.
Estepona is recommended for those who come in family or groups are golf fans, as the atmosphere is given for that. Thus, if you are looking for a place to settle or enjoy the summer with his family and in addition to this, enjoy sports, Estepona is an excellent choice.
Estepona has several golf courses for those fans of this sport, they are: Atalaya, Atalaya Rosner, El Campanario, Coto de la Serena, Estepona, El Paraiso, resin, and Valle Romano.
Foreign citizens are encouraging the market. More and more foreigners who acquire properties on the coast or in inland areas, mainly British, German, Scandinavian, etc. In the first quarter of this year more than 2,000 transactions with persons from other countries were given. This now accounts for 40% market share and is almost 81% more than the previous year.
In total have been sold over 5,000 properties, representing a 66% increase in the province in relation to 2013. Compared to 2008, then about 7,500 home sales, which was performed the best sales year in the city.
Financial institutions now offer these properties can be achieved by low prices. The cheapest are apartments whose price starts from 42 000 euros, Other apartments on developments such as resin can be achieved between 220,000 euros and 300,000 euros, with three rooms and common areas. Studio flats and offices are also available to investors, with values up to 35% lower than those initially possessed.
The economical advantage of british citizens
Sun, financial repression and low prices. A perfect cocktail that is causing the British to become the main buyers of homes in Spain, especially in the beach areas. And it is that the traditional appeal of the coast, poor returns on savings add up measures by the Bank of England and the hope of a housing recovery in Spain. The rise of the pound against the euro makes it even more affordable investment for a British medium that has also seen prices in their own country have not stopped growing.
The Bank of England has kept interest rates at a record low of 0.5% since 2009, which has moved to the interest offered by banks to British savers. A financial repression that makes the British seek alternatives for their savings, and the Spanish brick as there arises a good choice.
To this is added the fact that it is increasingly expensive to invest in housing in the UK, where prices have risen 25% since December 2007 to December 2014, according to the National Bureau of Statistics, led by London, where only last year rose 18%.
In addition, the recent rise in the pound against the euro, 13.5% in the last 12 years, makes housing in Spain is still cheaper for the British.
Drafted by: CAPD
Contribution to the reader: Get to know the main areas where the british gather in Costa del Sol in order to buy a property, the features of these zones and also the economics advantages that they have.