For years, you’ve had your heart set on buying your own property on Spain’s Costa del Sol. But since the Brexit vote, you’ve sat with fingers crossed, waiting for the pound to euro exchange rate to improve. A third of property sales every year on Costa del Sol are to Brits who’ve taken a wait-and-see attitude, like you.
In times like these, you need a currency specialist, so your dreams aren’t stuck on hold as you worry about Brexit developments ruining your exchange rate. Ask your dedicated dealer about using a Fixed Forward to lock in a good rate, so you can relax and focus on finding your dream property. Whether your budget stretches to a luxury villa or a holiday bolthole, gather as much insight as you can before you buy your Costa del Sol property. Use online resources to explore the Andalucía region and learn how to select the best locations for holiday and retirement homes.
Yes! You can buy a sensational property that’ll reward you with years of sunny smiles. You can also pick your perfect golf residence while sidestepping the newest timeshare scheme: fractional ownership.
Málaga transport to Costa del Sol hotspots
The Costa del Sol stretches from western Punta Chullera to the cliffs at Maro, but begin your search where you arrive: at the airport. The top reason why this region is sought after is its easy access: more year-round flights come into Málaga Airport from the UK than any other Spanish airport.
Málaga, Costa del Sol’s capital, has a transport system that’s rare in Spain: a coastal train line. The Airport is served by the RENFE train with 13 stops, including its newest, Fuengirola. Location is absolutely crucial on the Costa del Sol, and properties within easy reach of the airport and train are a much better investment (and often less expensive) than those in popular summer resorts.
Málaga City: Modern penthouses in city palaces
Andalucía’s second most populated city is being transformed: Majestic 18th century buildings are being renovated into modern luxury flats. Increasingly international, the 11 city districts are markedly more sophisticated, and often more affordable than coastal developments.
Swathes of the historic district are peacefully pedestrian with easy walks to the best beaches, restaurants, theatres and art museums. You can go far without a car because nearby AVE trains connect the city to Seville, Madrid and Paris.
The architectural fusion of ancient Moorish castles overlooking the city and the modern harbour promenade make this southern Spanish city more popular by the day. City property prices have steadily risen, as has tourism, which is driving investment in buy-to-let holiday flats.
This is trending all across Spain-urban sunshine spaces are a better investment as Spain’s economic recovery outstrips all other European economic growth.
Renovation is trending with international investors
Málaga continues renovating, with the artistic area of Soho next up for improvements. Your lawyer or estate agent can check local records to find you a list of buildings scheduled for upgrades so you know where to position yourself.
City renovations are the hottest properties in Málaga, but note:
• Get renovation cost estimates from more than one local contractor.
• Factor these costs into the price, negotiating as necessary.
• Lifts are rare in older buildings; they make property far more attractive to holiday makers.
• Check that there’s nearby parking, as renters often drive.
• Visit the property on summer evenings to check how loud local restaurants and bars are.
• The best buys are near the tourist areas, not residential outposts.
Check out the Eastern coastal areas outside the city centre
The west side of the city is closer to the airport but let down by poor quality buildings and deserted lots. The eastern edge of Málaga is more picturesque, featuring blue flag sandy beaches you can walk to. La Malaguenta is within good reach of the cruise terminal, restaurants, beaches and other tourist amenities. El Limonar boasts beautiful beaches near reasonably priced townhouses and villas in a residential setting. El Palo and Predregalejo sit on hills that afford these former fishing villages stunning views.
Costa del Golf
With 70 golf courses, Costa del Sol has been dubbed Costa del Golf and Málaga’s fantastic climate means you can play all year ‘round. There are 16 courses in Marbella alone, and with four marinas, the opportunity to sail in for a day on the links. The ideal golf property needn’t be in Marbella, in Mijas you’ll find golf residences and resorts where you can enjoy plenty of challenging courses. This Costa del Sol golf course directory shows you where to find the best golf residence properties.
One Challenge to Sidestep: Fractional Ownership
When shopping for golf resorts you may cross paths with an opportunity to invest in what’s basically a timeshare called “fractional ownership”. The prices range from inexpensive deals on golf residences to those costing millions. In many ways, this investment is as bad as a timeshare because:
• You typically share a property with 13 other owners who’ll want to use the property at the same peak times you will.
• You won’t see a great return, and re-selling will be tough.
• If the property is managed by the developer, your fees will be high.
• If the owners manage the property, plan for plenty of petty disagreement.
• This new scheme isn’t fully regulated, so have your lawyer take a hard look at any documentation provided.