Costa del Sol Property Market Update – August 2016

Costa del Sol Property Market Update – August 2016

 Sun, sea, sand and sangria –Costa del Sol has plenty of it. It is perhaps the most popular region in Spain among British expats, and is connected by a number of cheap flights to the UK.

Costa del Sol receives millions of tourists every year. It is also a popular overseas property destination. In this article, we tell how why it makes a lot of sense to buy cheap real estate in Costa del Sol fast, especially now, given that the Spanish economy is on the rebound, following a prolonged economic crisis.

Costa del Sol gets sun, a plenty of it, for 325 days a year. There are a plenty of sporting and entertainment options here – including many world class golf courses. The beaches – what can we say about the beaches – they are simply gorgeous. The best you will get anywhere in the Mediterranean.

The nightlife is fun, alive and vibrant. The place thrives at night and the fun and games continue until the early hours of the morning. The nightclubs in Costa del Sol are in a class of their own.

But it’s more than just that. The infrastructure is first class, as you would expect in a developed economy. It has all the modern amenities you would expect, including cheap public transport, fast internet and excellent communication systems. The hospitals are well equipped, and the healthcare is more affordable than what you would get in the UK.

Here are more reasons to look for cheap properties for sale in Costa del Sol. Investing in property in Spain is a great way to diversify your portfolio.  Spain has had a turbulent year politically, and hasn’t had a government in power since December, 2015. But now, the political gridlock in Spain seems to be close to an end and we expect a stable government under the leadership of Mariano Rajoy of the People’s Party to be formed soon.

But does it really matter if there is a government in Spain or not? Probably not, as 2016 has so far been a great year for the Spanish economy.  The Spanish economy grew at 2.9% this year, which is actually much faster than Italy, which has a stable government.

The property market has been doing fairly well as well, especially in Costa del Sol. Even Brexit doesn’t seem to have had much of an impact on the real estate scenario here.

Properties in Costa del Sol are still 20% to 30% below their peak prices of 2007/08, which is a good thing, as it suggests that things are just about to get better. The recovery has only begun, but there is no doubt in anyone’s mind that property prices in Costa del Sol are on the way up. There has never been a better time to invest here.

Finally, this is not a bad time to sell your house in Costa del Sol as the pound has simply capitulated against the euro following Brexit. At the time of this writing (August 16, 2016), the pound has continued to decline and the Pound to Euro exchange rate now stands at 1.14. So, your home for sale in Costa del Sol will now fetch a much higher price than before. 

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