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As followers of the Realista blog know, the Costa del Sol new build market has experienced one of its busiest periods since late 2020. This strength continues, as was apparent at the recent real estate fair, Salón Inmobiliario del Mediterráneo (SIMED), in Malaga. The three-day event offered over 11,000 new properties and attracted thousands of potential buyers.
Renewed developer presence
The 2022 edition of SIMED has underlined the current upward trajectory in the Costa del Sol new build market with the presence of the largest developers in Spain. The biggest names attended the event to showcase their latest off-plan properties on the coast.
In recent years, SIMED saw a reduced presence, due to the tail-end of the last property crisis and the pandemic. However, the 2002 event was one of the most successful ever, with 170 developers, offering over 11,000 homes. The majority of the properties for sale were on the Costa del Sol, with 30% in the neighbouring provinces of Cadiz and Granada.
Demand well ahead of supply
Unprecedented demand is the main reason behind the current fast-paced sales rate and ever-rising prices. Demand for Costa del Sol property currently exceeds supply as new residents and second-home buyers flock to the area.
“The Costa del Sol is a destination with magnificent conditions for relocation, visiting and, of course, investing,” said Juan Manuel Rosillo, President of the Malaga Association of Builders and Developers (ACP). “Numerous companies, including multi-nationals, can see this and have made the Costa del Sol their base as a result.”
Strong potential for luxury homes
At SIMED, the international real estate consultancy Savills highlighted the potential for the Costa del Sol new build market within the high-end sector. The company stated that branded residences have grown by 150% over the last ten years. Furthermore, analysts believe this niche market will expand by 100% by 2027.
The Costa del Sol is increasingly a focal point for this sector, although the market remains small for the moment. Two branded residences are currently under construction in Marbella, carrying the signatures of Four Seasons and Epic by Fendi.
Karl Lagerfeld Villas, W Marbella and Liora by Pininfarina have also announced future projects in the resort area. According to Savills, several other luxury new-build projects seek to link up with an international brand.
Discover the Costa del Sol new build market
At Realista, we market all the latest new-build projects up and down the Costa del Sol. If you’d like to see what’s available, get in touch with our expert team who will be more than happy to advise you on options and types to suit you.