House Buyers Desperate To Live On Costa del Sol

The desire to live in Spain’s Costa del Sol appears to have reached new heights with a surge in off-plan sales.

According to information from developer Taylor Wimpey Spain on Wednesday, July 19, more than 30 nationalities, including Spaniards, have acquired a home, writes La Opinión de Málaga.

What Are Off-Plan Sales?

Off-plan sales are the acquisition of an apartment or house based on a plan, that is, before construction has even begun. The popularity of the Costa del Sol area coupled with the limited availability of finished new constructions has seen a massive surge in off-plan sales.

Despite British developer, Taylor Wimpey Spain, currently having several projects under construction, it has completely sold out of its stock of finished homes. At the moment it reports that off-plan sales account for 100 per cent of its operations.

Statistics from Taylor Wimpey Spain indicate that the Costa del Sol is the area with the highest growth in the country in terms of increased new contacts. So far this year has seen a 68 per cent increase in potential buyers

Some examples of homes from the developer include Estepona with prices of €245,000 and €348,000 (plus VAT) respectively. Casares Playa from €278,000, Mijas at €370,000, or above €600,000 in Marbella.

Which Nationalities Are Buying?

Taylor Wimpey Spain’s customers in Malaga are made up of 89 per cent foreigners compared to 11 per cent of Spanish buyers. They also pointed out that off-plan sales were a feature among Spanish nationals, not just foreign buyers.

Although no comparative figures were made available, the developer did point out that some of the most prominent buyers came from the UK, Belgium, Iran, Russia and Poland.

The areas within the Costa del Sol region that rank the highest in terms of desirability are, San Pedro de Alcantara, Casares Costa, Estepona and Marbella, on the western coast of Malaga.