Tightening Costa del Sol property supply means both buyers and sellers are urged to move fast
It’s hardly news, of course, that the Costa del Sol region of Spain is a highly in-demand property destination – but it seems that this has become even truer in recent times! With Europe and the wider world mounting its gradual comeback from the restrictions imposed by the COVID-19 pandemic, it appears that buyers and sellers alike have stirred into action.
Higher-end Costa del Sol homes – including much property in Sotogrande – has been especially booming. And as expatriate newspaper The Olive Press recently reported, various factors are contributing to low supply and climbing prices in the region.
Why is the local property situation particularly urgent now?
Here at BM Sotogrande, we’re hearing more and more about buying frenzies taking place across the Costa del Sol, with would-be purchasers sometimes having to make quick decisions to snap up the property they have their eyes on.
And as has been identified in local media, this fast-moving market is attributable to a number of circumstances. The coronavirus crisis has certainly exerted its own effect, by making people less inclined to consider major cities when seeking out property in Spain.
After all, many of us since the onset of the pandemic have got accustomed to working from wherever we wish to work during the COVID-19 situation. We have our fast Internet connections and the comfort of home, and just don’t need to be commuting for work to densely packed cities where the risk of virus transmission may also be higher.
Then, there’s the situation of particularly affluent investors, who may be looking for solutions that provide a better return on their investment than the banks can offer. With its track record of retaining and even increasing in value through times both good and bad, property in Sotogrande has long been attractive in that regard – and has become even more so lately!
Oh, and we could also mention that while new property developments do continue apace in sought-after areas of Spain like the Costa del Sol, they haven’t been quick enough to replenish the available housing stock in popular regions without prices rising. Financing in some areas has been tight, and this is having the effect of limiting the supply of high-end dwellings in the region.
A time of strong activity for the Sotogrande property market – and your cue to act
You might be a prospective buyer, eager to snap up property in Sotogrande now, so that you can sit back and enjoy the continued appreciation in value that looks practically guaranteed for a while to come. Or perhaps you’ve read the reports yourself of escalating Costa del Sol property values, and would like to take advantage of the healthy market?
Whatever your situation and aspirations, we’re ready and waiting to help here at BM Sotogrande! Get on the phone to us, send us an email or even visit us in person at our Pueblo Nuevo office, for advice and guidance on your next steps in the Sotogrande property market.