As our blog posts have been tracking, the Costa del Sol property market has consolidated its position as one of the leading lights in Spain. With brisk sales in Q3 and continuing price hikes, there’s no doubt that the current trend is up.
It’s, therefore, no surprise to find that two of the most popular spots on the Costa del Sol with property buyers, Marbella and Estepona, have seen the highest price rises in the country. In addition, Los Monteros in Marbella ranks as the most expensive place to buy a home in Andalucia.
Biggest price hikes in 2021
The property portal Idealista recently published a report looking at the districts in Spain where property prices have increased the most since 2019. The Costa del Sol dominates the rankings with four of the top ten areas.
Las Salinas in Roquetas de Mar heads the table for the entire country. Property in this part of Almeria province has seen the biggest increase in Spain. In two years, homes have seen values skyrocket by almost double (46.3%). The square metre price does, however, remain much lower than on the nearby Costa del Sol.
Three districts in Marbella
After Roquetas de Mar, Golf Guadiano in Badajoz and La Concepción neighbourhood in Cartagena, the Costa del Sol arrives on the listings. Nagueles in Marbella sits in the fourth position. Property in this part of Sierra Blanca has seen a price hike of 41.2% over the last two years and the square metre currently costs €3,440.
Golf property on the Costa del Sol always attracts a premium and the homes available at Las Brisas golf course in Nueva Andalucia are a good example. Prices have gone up by over 38% in the last two years, the sixth-highest increase in Spain. They currently stand at €4,537 per square metre.
Still in Marbella, Bello Horizonte at the east end of the city has also experienced strong demand and as a result, prices have gone up by over 34% since 2019. The seventh highest in the country.
Estepona features in the eighth position with a 33.8% rise in property prices at Guadalmansa. This beachside district has a privileged location on the New Golden Mile and includes some of the best seafront property in the area. Homes here cost an average of €3,751 a square metre.
Marbella has most expensive real estate in Andalucia
Unsurprisingly, Madrid takes the top spot. The exclusive neighbourhood of Recoletos in the Salamanca district officially has the most expensive property in Spain. Buying a home here will set you back €8,863 a square metre. The Área Romántica district in San Sebastián and Sarrià in Barcelona complete the trio.
But when it comes to locations in southern Spain, real estate in Marbella again takes the top position. On the east side of the resort and with some of the best beaches in Marbella, Los Monteros lays claim to the most expensive property on the Costa del Sol. And in Andalucia.
According to the Idealista survey, properties in Los Monteros cost an average of €5,392 per square metre. The figure represents an increase of 22% compared to 2019.
Find your prime property
Our team at Realista wasn’t surprised by the survey results – after nearly 30 years in the Marbella real estate market, we’re well aware that a good location is worth its weight in gold. And certainly, properties at Las Brisas, Nagueles and Los Monteros all tick the location box.
But there are also dozens of other great places to buy a home on the western Costa del Sol. So if you’re looking for the one that’s right for you, just get in touch. Our friendly and knowledgeable team will be only too pleased to help you find the perfect property.