The aptly named Costa del Sol is a year-round sunshine destination. Expats fleeing frigid northern Europe flock to small cities strung like pearls along the southern Spanish coast, where 320 days of sun a year offer a luxurious beach lifestyle at a fraction of California’s cost of living.
Marbella, the cosmopolitan capital at the heart of the region, has emerged as Spain’s luxury property leader, according to a recent forum analyzing the high-end real estate market. Its 34% share of high-end homes put it ahead of the Balearic Islands, Madrid and Barcelona, which account for just 10% each.
The Costa del Sol’s appeal is multifaceted, but the climate and gastronomy are two key draws. British buyers remain active in the region, despite Brexit and the plummeting value of the pound. They are attracted to the low-tax regime, high-end infrastructure and international schools, which often offer scholarships to local children. The stability of the Spanish economy, relative to other European countries, also reassures investors.
Idealista reports that property prices in the Costa del Sol hit record levels in October, with demand outpacing supply. The municipalities of Malaga, Benahavis and Estepona all recorded prices above EUR4,000 per square meter. Property management costa del sol