If you are thinking of buying property on the Costa del Sol, Spain, welcome to a popular real estate market that is an ever-revolving circle of home buyers and sellers. Every day, apartments and villas are bought and sold to a global audience flocking from all over the world. We understand the appeal, haven fallen in love with the Costa del Sol ourselves.
However, before you rush out and buy the first property you see, it is worth doing a bit of research and gaining local knowledge to ensure you buy your dream home and not something that becomes a headache. So, in this article, we look at common questions asked and how to set foot on the property ladder of the Costa del sol in southern Spain.
Buying Property on the Costa Del Sol
About the Costa Del Sol Property Market
When it comes to property investment by foreign buyers, Costa Del Sol tops the list as one of the most popular places. Some buy a holiday home; others look to invest in a buy-to-let, while others plan to retire and live in Spain. Despite the popularity, property prices remain affordable, ranging from your bargain homes to luxury properties reaching six digits and more. A few reasons attract foreigners to look at properties for sale.
The first is the tourism market that encourages a cosmopolitan atmosphere and ensures English is widely spoken throughout the region. Secondly, Costa del sol is home to many foreigners of various nationalities. In some places like Mijas, the expat population is as much as 36%. Many Brits, either renting or owning property, live here all year round.
Lastly, with the housing market attracting buyers from worldwide, local officials constantly reinvest back into communities to keep this source of foreign income coming. This means excellent transport links, good healthcare, decent schooling, and a wide range of bars, restaurants, and shops. What more could anyone looking at property for sale want? Additionally, if you buy and want to sell your property in years to come, Costa del Sol promises high liquidity thanks to the buyers that come in from around the world.
Reasons to Buy a house on the Costa Del Sol
- When it comes to new property, affordable prices keep the market going and attract buyers and property investors with potential capital growth.
- The Costa del Sol is a global tourist brand and ideal for anyone looking at a rental property.
- Over 300 days of sunshine a year, coupled with stunning beaches and an outdoor lifestyle.
- To keep real estate investment going, local councils constantly upgrade infrastructure and amenities.
- Year-round flight schedule to many countries worldwide, making getting to your second home quick and easy.
- Diversity is everywhere, from the dining out and entertainment scene to culture and traditions. You will undoubtedly find the lifestyle that you want.
Where to Buy on the Costa Del Sol
Deciding where to buy will depend on two factors; your budget and expectations. For example, if you are purchasing a holiday home rather than an inland location, a new home with a beachfront position with a sea view would be ideal. Benalmadena and Fuengirola are famous for their beaches, while the Marbella region is trendy for residential property.
Places like Puerto Banus and the golden mile are known for the luxury detached villas for sale. Meanwhile, houses for sale in Estepona embody the characteristics of the revamped old town. Malaga also features many suburbs, with many townhouses for sale that promote spacious living. For more information on where to find properties for sale, see our area guide for the Costa del Sol that also talks more about buying property in Spain.
How to Buy Property
1: Before you start your property search, get your finances in order. Don’t forget that as well as the down-payment and house price, factor in closing costs and legal fees, like land registry, notary, conveyancing, solicitor, surveyor, furnishings and utilities connection. The market operates in euros, so find a good foreign exchange company that can offer reasonable rates and low transfer fees.
2: Come out to the Costa del Sol for a viewing trip or start looking at houses for sale now by browsing our overseas property portfolio. All property listings contain everything you need to know, including purchase price, location, number of bedrooms and bathrooms, home features and contact details for further enquiries or to arrange a viewing.
3: Use a lawyer with experience in dealing with property in Spain. They will be responsible for due diligence like an appraisal and ensure the sale and home-buying process runs smoothly. They or us can also help you apply for the NIE number that you will need to open a bank account to pay taxes.
4: Once you have found the apartment or villa that you want to buy, pay a deposit to have the home taken off the market. At this point, your lawyer will also draw up a contract.
5: Once your lawyer is ready to proceed, sign for the title deed, get the utilities into your name, put your key in the door, and have a toast because you are now the proud owner of a home on the Costa del Sol of Spain. Buying a property has never been easier.
Buy a Property: Showcase Development
Overlooking the Calanova golf courses, these properties to buy are within a large resort focused on lifestyle and pleasure. The new development maintains Andalusia vibes while embracing modern living and is perfect for holidays or foreigners looking at buying a house and living in Spain. Sitting 75 minutes from Gibraltar airport, 30 minutes from Malaga airport, and 15 minutes from Marbella, and Fuengirola, getting here is quick and easy.
Altogether 80 new homes cover 17,200 square meters, which sits just 10 minutes from the Mediterranean Sea. Ranging from one-bedroom penthouses to 4-bedroom family homes, some residential properties feature either a garden or solarium. All have terraces or balconies, making al fresco dining the order of the day. Final additions include gourmet kitchens with appliances, ensuite bathrooms, walk-in wardrobes, rainwater showers, and outdoor summer kitchens can be installed upon request.
If homebuyers want a private swimming pool, opt for a penthouse or ground floor apartment; otherwise, there is a wide choice of amenities within the resort itself. They include a spa and wellness centre, a fully equipped gym, a golf stimulator, a kids’ entertainment centre, a gastro bar, a 12-seat private cinema, an indoor heated and outdoor pool. Overall, they are the perfect home. Prices start from 369,000 Euros, and if you would like to put these on your shortlist for buying a home, contact us quoting listing numbers ESMIJA 536 to 541 or see the full listing here.
About Us: We are Spot Blue, an international real estate agent, with many new build, resale, off-plan and furnished luxury villas, penthouses, and apartments for sale on the property market of the Costa del Sol. Browse our portfolio if you want to buy a property with peace of mind, either for a good investment, holiday home or permanent living in Spain. Alternatively, contact us today and speak with an agent to answer your questions about buying property on the Costa del Sol or follow us on Facebook to stay up to date with property news from Spain.