Costa Estepona, Estepona
- Properties From $320,000
- Tenure: Freehold
- Estimated Rental Return: 10%
- Completion: Q4 2023
- This new building project is located in Cancelada on the New Golden Mile, between Estepona and Marbella on the Costa del Sol. By car, you can be at the Playa de Guadalmansa in five minutes, and you can also travel by sea.
- Marbella has seen prices sky rocket in the last 10 years, with many buyers moving a little further afield to find value. This means that there is still plenty of room for growth in the market, making Estepona a smart choice for investors.
- The Costa del Sol has a booming touristic market. Up to half of all property sales in Costa del Sol are foreign investments.
- The demand for holiday rentals in Estepona remains strong throughout the year, attracting tourists from all over the world.
The Property
This exclusive development is located in one of the best areas of Estepona’s New Golden Mile. The development comprises of 82 apartments distributed over four floors (mainly duplexes) with 2 and 3 bedrooms, as well as penthouses with solariums. All the properties have a terrace and/or garden, as well as a storage room and garage. Most of the properties have beautiful views of the Mediterranean Sea. The development has an outdoor swimming pool, gym, sports area, and an exclusive Club House. The area is very popular with golf lovers due to having some of the best in Andalusia: Flamingos Golf, Cancelada Club Golf, El Campanario Golf & Country House, and Atalaya Golf & Country Club, among others.
Why Spain?
- 87 million visitors per year
- 300 days of sunshine
- Low cost of living
Spain is considered one of the most attractive countries for real estate investment in Europe. In Spain, the demand for rental properties has increased by more than 10% year-on-year. An expanding market offers many advantages, such as a large number of potential customers, as well as less intense competition. According to a report published by the Central Bank of Spain in 2022, properties can expect a return of 11.2% per year. The good news for international real estate cash-buyers: it should be easier to find properties as interest rates are rising. In 2019 (prior to Covid), Spain was the second most visited country in the world with 83.7 million visitors. Some of the worlds biggest REITs have turned their attention to developing luxury homes on the Costa del Sol due to the high ROI.
Est. Return
- Occupancy Rates: 53%*
- Est Revenue: $31,400*
- *Based on AirBnB data
Location
The Costa del Sol is a famous tourist and relocation destination due to its high quality beaches, coupled with fantastic all-year-round weather. Estepona lies to the east of Marbella (one of the most expensive areas to buy property in Spain), offering a good value for money in a calmer area. Estepona’s recently refurbished old town is considered one of the prettiest in Andalusia. It has a variety of shops, restaurants, and entertainment options. This development is located on the New Golden Mile, a name given to the stretch of coastline between San Pedro Alcantara in Marbella, and Estepona. This area is popular with both tourists and permanent residents. It is located within walking distance of the charming villa of Cancelada, where you will find local shops and restaurants. For those seeking outdoor activities, Estepona is home to numerous golf courses, tennis clubs, and water sports facilities. Additionally, the town hosts cultural events and festivals throughout the year, providing a rich and diverse social scene.
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