Resurgent Year Ends with Excellent Prospects for 2018
As the year draws to an end, there is a palpable and universal belief among leading experts and analysts that the property crisis has now been definitively overcome, and the future looks bright for buyers and vendors alike – in 2018 and beyond.
Here is just some of the recent good news that confirms the industry’s positive expectations…
- At the end of November, more than 11 million foreign tourists (many of whom will become home buyers) had visited Andalucía during 2017 – already beating the previous year’s record of 10.6 million. Britons represent the highest proportion of visitors (23.3 per cent), followed by those from the Nordic countries (13.6 per cent), now more than both German and French tourists. According to the ministry of tourism, nationally 77.8 million tourists visited Spain during the first 11 months of last year, compared with 75.6 million in the whole of 2016.
- In Mijas municipality Bekinsa has begun construction of Jardines de Las Lagunas, a 600-home project involving a reported investment of €200 million and a town hall requirement for the company to develop a 10,000 square metre green area for public use.
- The growing importance of holiday rental homes on the Costa del Sol was reflected in invitations for the Andalucian Association of Tourist Homes to take part in two major industry forums in December. According to Andalucian Tourism Register figures, the number of beds available in tourist accommodation homes on the Coast at the start of December was 80,700, compared with 79,577 in hotel establishments.
- El Mundo reported that great excitement had reigned at the Madrid Stock Exchange when Aedas Homes joined Neinor Homes (in March) as the first stock market flotations of Spanish home builders in 10 years. The newspaper said this reflected a return to growth in the property sector post-crisis, while also representing a solid new business model backed by foreign investment.
- In his latest report on the Costa del Sol real estate market, Spanish Property Insight’s Mark Stücklin lauded the appeal of Estepona, “blossoming as house-hunters and investors fall for its natural attractions and good governance”. According to Stücklin, “A clear sign of Estepona’s promising future can be seen in the investors it is attracting. A big vote of confidence comes from Aedas Homes, Spain’s leading residential property developer, and a publicly listed company… With many new projects in Spain’s main cities already underway, Aedas Homes has chosen Estepona for the first two of its developments on the Coast aimed at local and international buyers… If a company like Aedas Homes, with all the resources it dedicates to analysing the potential of a location, is investing in Estepona, other investors should take note.”
Luxury Living
We therefore stay in Estepona’s ultra-popular New Golden Mile area for our final featured home of the year: a stunning beachfront apartment priced at an excellent €999,000.
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