Thursday, February 25, 2021
Home Residential Boom in the C...

Boom in the Costa del Sol’s Luxury Home Market: Almost 11,000 New Homes are up for Sale

Marbella (Andalucía)

The luxury residential market is growing in one of its favourite locations, the Costa del Sol. New single-family home developments are being constructed for the first time in areas such as Torremolinos and Fuengirola. Traditionally, high-rise homes and super-luxury multi-family projects were built in those areas, which used to be oriented towards villas. That is according to the latest report from the international real estate consultancy Savills Aguirre Newman.

The new concept of super-luxury multi-family developments is concentrated in the most exclusive urbanisations, such as Finca Cortesín with the Las Albercas project, or in more specific locations in Marbella and Estepona, such as The View and The Edge developments on the beachfront.

During 2019, single-family housing accounted for almost all of the activity in the luxury market along the Costa del Sol. Of the 1,468 single-family homes on the market, the new developments were concentrated in Marbella (26%), Mijas Costa (23%) and Estepona (16%). Torremolinos, Fuengirola and Benalmádena accounted for 17% of all of the new single-family homes along the coast. “In recent years, new build properties have returned with a bang with numerous projects and around 10,860 homes (of all types) on the market in total in 2019”, said José Félix Pérez-Peña, Director at Savills Aguirre Newman Andalucía.


Who Are the Construction Kings in the Balearic Islands?

Ten of the major real estate companies, including Taylor Wimpey, Metrovacesa, Aedas and Vía Célere, are going to deliver nearly half of the almost 2,500 homes that are scheduled for completion on the islands this year, according to Brainsre.

The Lowdown on the Decrease in Rental Prices in Madrid Post-Covid

The price of rental homes in Madrid has decreased for the third consecutive quarter, although the average asking price still exceeds 1,200 euros per month, according to Brainsre.

Ranking of Property Developers in Barcelona By Number of New Homes They Plan to Complete

Five property developers lead the new-build residential market in Barcelona and neighbouring towns, according to the big data platform Brainsre.

The Rental Market a Year After the Outbreak of the Pandemic

Rental prices are continuing to fall, with a decrease of almost 9% in the last three months alone, according to Brainsre. Nevertheless, the amount of time it takes to find a tenant has increased by 40% since the Covid crisis began.

Latest news

S&P Forecasts a Moderate Rise in House Prices in Spain in 2021, With a “Sprint” of 4.3% in 2022

Home purchase intentions are at their highest level since 2003, but the ratings agency warns of overvaluations.

CBRE GI & Montepino Receive 12 Offers for the Logistics Operation of the Year

Large international funds, sector specialists and Spanish private banks are all bidding in what is expected to be the largest real estate transaction of 2021.

The Hotel Sector Continues to Suffer: Revenues Plummeted by 73% in January

Overnight stays in hotels fell by 81.2% in January to 2.3 million; while the average daily revenue per available room (RevPAR) stood at 12 euros, down by 73%, according to the INE.

Grupo Ática and the Calabuig Family Buy Land From Coral Homes to Build 675 Homes in Benicasim

The plan is to build 25 single-family homes, 650 high-rise apartments and a hotel on the acquired land, which spans 240,000 square metres in total.