Spain’s property market is definitely showing signs of recovery and growth thanks to many factors such as the economic stability and the good offers that can be found all over the country. The numbers and statistics show that last year has exceeded all expectations in terms of number of tourists that visited the country and properties sold.
This positive trend translates into the return of big investments and more practically by the number of the off-plan and under construction projects we are currently seeing on the coast. For the first time since 2007, many new developments are getting sold out within just few months of their launch. The whole Costa del Sol is getting its share of the boom but some areas are growing more than others, as in the case of the New Golden Mile, or the area extending between Guadalmina and Estepona.
If you head towards Estepona on the coastal road, you will see a dozen different projects being advertised along the way, and you can currently buy anything from a 2 bedroom apartment for €200.000 up to a 4 bedroom villa for €1.500.000. A lot of these projects have sold 40 to 50% of their inventory in the last 6 months only.
So why is this area so popular?
The New Golden Mile is a very strategic area linking two major towns on the coast, Marbella and Estepona, within 10 to 15 minutes. The beach and the various amenities have made this area quite popular among people seeking to be well connected but not necessarily wanting to be in a busy town.
This 16 Km stretch provides all the services that tourists and residents need, from restaurants and hotels, 2 stars up to 5 stars such as the Kempinsky hotel and Villa Padierna, to supermarkets and shops, schools and golf courses, sports clubs as well as clinics and hospitals.
If you would like to discuss the choices available on the New Golden Mile, we will be more than happy to assist.