Estepona is, nowadays, one of the most sough-after area’s on the New Golden Mile (Costa del Sol). We have scanned this lovely old Spanish town for the best new apartments to buy in Estepona.
Buy new apartment Estepona
Nowadays, the Marbella-area property market is more resilient and mature than the national Spanish market. In 2011, during the crisis, the property market in Marbella and Estepona hit the bottom, but recovery started already in 2012 (2 years prior to the rest of Spain). The reason for this? The uprise of the property market was led exclusively by foreign investors and property buyers. This stong international market has always distinguished the Marbella area property market, as well as most Spanish resort areas, from the rest of the country. Consequently, the market recovery in the Marbella area is more mature than the national market, and percentage sales increases have begun to level off, whilst still increasing on a national level. For example, on a national level the 2017 sales volume is still 21% below that of pre-crisis levels of 2007, whilst in the Marbella-Benahavís-Estepona area, the 2007 sales volume has been surpassed by 10.4%.
Marbella area sales (Marbella, Benahavís, Estepona) in 2017, contrasted with prior years, can be seen on the following table. Overall one can see an increase in sales volume of the three municipalities from 2016 to 2017 of 11.15 %.
The explication for the steep increase in number of property transactions in Estepona is a combination of factors. Besides a firm and visionary local government, led by mayor Urbano, it can be related to the development in the local property market.
- Significantly greater availability of full zone development land in Estepona compared with Marbella.
- Delays in the acquirement of building licenses in Marbella of a year or more, pushing developers to invest in plots in Estepona and Benahavís, where licenses are presented far more quickly.
- The relatively lower property prices in Estepona, compared with the most consolidated (and often more reputable) residential areas of Marbella and surroundings.
What happend to the property prices?
According to the land registries of Spain, prices of residential properties rose in 2017 by 7.6% across all of Spain. After the sharp downturn in the property market and the economy itself during the crisis and with distress properties now drying up in most areas, such a price increase is no surprise.
The number of new developments in the Marbella area
To help you understand the new build property market better, we have done a full research of the off-plan developments that we believe to be representative of the current market, of 61 new developments being built in Marbella, Estepona, Benahavís since 2016. These new off-plan developments offer properties ranging from of €150.000 to €4.000.000 and represent a total of 2.657 new build properties. Of these properties, 61% of them have already been sold or are under contract, with a significant proportion still under construction. Moreover, many of the new developments in Estepona or Marbella have future phases, yet to be released.
The large amount of properties, plus the new projects coming that are planned to be released, provides today’s property buyer with a large scale of contemporary and luxury homes and apartments.
New build villas and apartments are available “off-plan” at competitive prices. The majority of developers offer clear advantages of stage payments in both categories, with bank guarantees and building licenses yet in place.
Buy new apartment Estepona
Buying a new apartment is Estepona, thus, is not easy. While the internet provides solid insight, the wide variety of new build/off-plan apartments can complicate things. We are aware of that. To makes matters easier, we have listed the best new developments in Estepona available at the moment.
The three circles represent the area’s in Estepona that are ‘moving’ in term of residential new developments. The area on the left is where the hospital will be. This section is only minutes from Estepona port. The smaller circle is known as the Estepona port area, where various of new build apartment projects are developed. Perhaps the hot spot in this area is called Las Mesas (see South Bay Estepona).
The circle far right is located about 5-10 minutes driving from the town of Estepona. The areas La Resina and Selwo are included here, and will house more than 1000 new build apartment and new build villas before 2022.
Estepona is, due to earlier mentioned reasons the most sought-after contemporary property location on the Costa del Sol in Spain. Only in Málaga there are more new developments under construction.
Estepona’s unique micro-climate, sunny, blue skies are guaranteed 325 days a year. Estepona is protected on one side surrounded by the Sierra Bermeja mountains (protected Green zone), on the south-side by the Mediterranean Sea. It is one of the most southern hotspots in Europe, but moreover, one of the highest light intensity locations in the world.
But its ideal climate doesn’t stop there. Thanks to its optimal Mediterranean climate, mild winters, and moderately warm summers are common. The average temperatures in the summer fluctuate, on average, between the 27 and 32 degrees. During the winter, daily temperatures are on average 20 degrees.
Since 2017, the traditional fisherman town is the center of growth, development, culture, and entertainment. Estepona offers a wide selection of comfortable living area’s, surrounded by sea, mountains, beautiful nature and all modern amenities (new hospital finished end 2018).
Search New apartments Estepona
Las Olas Estepona
Green Golf Estepona
Vanian Green Village
Oasis 17 Estepona
South Bay Estepona
About Terra Sur Homes
Terra Sur Homes is located just outside the city center of Estepona. We are an experienced real estate agency in the Marbella and Estepona area for over 6 years. Feel free to contact us for an independent opinion on new developments in Estepona or Marbella.