Why buying a property in Nueva Andalucia could be a good opportunity? March 31, 2023
Investing in a property in Nueva Andalucia, Marbella, Costa del Sol, Spain can be a wise decision for many reasons. The region of Costa del Sol has long been a popular destination for tourists and expats alike, with its stunning beaches, Mediterranean climate, and vibrant culture. In recent years, the real estate market in the area has become increasingly attractive to foreign buyers, making it a prime location for investment.
Nueva Andalucia, located just west of Marbella, is an area that has gained significant popularity in recent years. It is known for its luxurious villas, high-end apartment complexes, and stunning fincas. The area boasts a variety of amenities, including golf courses, luxury shops, and top-notch restaurants. It is also close to many popular destinations in the region, such as Puerto Banus and Marbella’s old town.
Reasons why Nueva Andalucia is a good pick?
One of the main reasons why investing in a property in Nueva Andalucia can be a good opportunity is the growing demand for high-end real estate in the area. According to a report by Lucas Fox, a leading real estate agency in Spain, the demand for luxury properties in Marbella and Costa del Sol increased by 44% in 2021 compared to 2020. The buy and sell pressure went down significantly during the covid years, but never halted completely thanks to the continued high interest and sales through video calls and remote viewings. This trend is expected to continue in the coming years, as more and more buyers seek to invest in properties in Spain and change lifestyle with a priority on a healthy work/life balance.
Another reason why Nueva Andalucia is an attractive location for investment is the diversity of nationalities living in the area. According to data from the Spanish government, the largest groups of foreign residents in Andalucia come from the UK, Germany, Sweden, Norway, and France. This diversity creates a vibrant community, making the area a great place to live and invest in. The presence of many nationalities also means that there is a wide range of cultural events and activities, making the area attractive to tourists and visitors.
Spanish Government in support of foreign buyers
The Spanish government has introduced a number of measures in recent years to attract foreign investors to the country. These measures include tax incentives, such as the Golden Visa program, which allows non-EU citizens to obtain residency in Spain by investing in real estate. This has led to an increase in the number of foreign buyers in the area, further driving up demand for properties.
In terms of Nueva Andalucia specifically, the area has many features that make it an attractive location for investment. For example, it is located in close proximity to the famous Puerto Banus marina, which attracts many high-net-worth individuals and celebrities. The area is also known for its luxury golf courses, which make it an attractive destination for golf enthusiasts. In addition, the climate in the region is pleasant year-round, making it a great location for those looking for a second home or a place to retire.
Overall, investing in a property in Nueva Andalucia, Marbella, Costa del Sol, Spain can be a smart financial decision. The growing demand for high-end real estate in the area, combined with the diverse community and favorable government policies, make it an attractive location for investment. With its luxurious amenities and pleasant climate, Nueva Andalucia offers a great quality of life for residents and investors alike.
Are prices more stable in Nueva Andalucia than in rest of Spain?
The property market in Costa del Sol and especially Nueva Andalucia is primarily influenced by international buyers. This also means that the price volatility is less affected by the national financial situation in Spain. A lot of the investors have a strong financial base and have bought properties here as a second home or to diverse their investment portfolio, meaning that even if the property prices would decrease in the rest of the market there has historically been a stable price here as they have not been forced to sell the property for financial reasons.
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