So 2020 was a very strange year indeed, and the beginning of 2021 has not been much better. Although the vaccine is now being rolled out, and a glimmer of hope is on the horizon. For most people normality is not arriving as quickly as they would like.
The Costa del Sol has not escaped the craziness, after an incredibly hard lockdown that saw children not leave their houses for two months, and people borrowing neighbours dogs to just get out of the house, the Costa del Sol has emerged to a reduced tourist season. The Brits largely had to stay away due to the quarantine measures of the UK and Spanish governments, and other nationalities visited, but in reduced numbers.
So, we are left with a lot of questions about our beautiful coast, and its future in the property market.
Firstly, will prices drop significantly? And if so, is it worth investing?
Our answer would be that the Costa del Sol will bounce back from a tourism point of view. Spain has been a favourite for tourists for years now, and it´s close vicinity and fantastic climate are not going to change. Once the flights are back up and running, we expect for the streets to return to their pre covid hustle and bussle.
Towns like Fuengirola, Benalmadena and the always desirable Marbella are firm favourites, due to their fantastic beaches and their choice of activities.
There are other favourites emerging, for example, in the last five years, Estepona has developed into one of the most sought after areas of the Costa del Sol, it holds close its Spanish feel, and is simply one of the prettiest towns on the coast. The ´Garden of the Costa del Sol´ initiative has transformed the town, around every corner is a new park or floral arrangement, palm trees line the main roads and the little old town streets have plant pots in different colours. The result has been simple and stunning, and has only made it more desirable.
If Covid-19 had not happened, the Costa del Sol was on track for a very busy summer. So for that reason, the Costa del Sol is still an excellent place to buy, there is no denying that property prices will reduce however, it is very unlikely they will crash as investors will view this coast as an excellent place to purchase and sit on properties until the economy turns around again.
The coast is busy even in the winter, so there will always be a long term rental market to tap into. As with anywhere, it is all about location, location, location.
Alternatively, you might want a second home, or if you want to relocate to the costas permanently, what are you waiting for? We could talk forever about the benefits!
Marbella Carpentry-Construction
Neil
648 606 780
