Málaga and the Costa del Sol have long been associated with opulence and luxurious living, where prices are steadily rising year after year. Nicknamed the “sunshine coast,” it attracts newcomers not only for its coveted lifestyle, with relaxation and freedom, but also promises career prospects. Recently, however, the idyllic coast has become even more desirable with the long-awaited drop in real estate prices.
A shift in paradigm
Ranked as the 12th most expensive city in Spain, Malaga’s sun-warmed coast is considered a haven for the affluent, with stunning sea views, sprawling villas and an array of luxury amenities. The steep price tags on homes seem almost inevitable, but this unexpected turning point appears to have been caused by a steady rise in interest rates, as reported in a recent SUR article. In recent months, it has become common to receive emails stating a “price drop,” which has caused excitement throughout the real estate industry. If you are considering the Costa del Sol as your investment destination, now is the time, according to a real estate expert. Any buyer can benefit from this economic shift, but resale homes in particular are benefiting from this welcome drop in prices; investing in resale luxury homes can be an extremely wise choice. The possibility of owning a piece of this Mediterranean paradise is increasingly becoming a tangible reality for anyone considering the move.
Is December the month to buy a luxury home?
Amid our unexpected recent price drop, this might be the perfect time to immerse yourself in the world of Luxury Real Estate, considering that December has its advantages in the real estate world.
- Fewer buyers means lower prices – as tourism declines during the winter months, there are fewer buyers enjoying all the Mediterranean charms. Sellers with luxury estates have a limited pool of investors, which means they may be more receptive to reasonable offers, giving you the chance to obtain more favorable terms.
- Economical pricing – not only will sellers settle for lower prices, but before the end of the year, homes for sale can be listed at a discounted price, making investments along our sun-drenched coast much more affordable. Whether this is because real estate agents want to close deals before the end of the year or because dropping prices during the low season in Spain is nothing special, you have the upper hand.
- Reduced competition – less activity in the real estate market in December offers you a stress-free buying experience. A greater number of luxury homes will be available for viewing at your convenience, and offers can be posted with little to no worry that another investor will take away your future property.
- Availability of professionals – everyone involved in your real estate transaction will almost certainly have a less hectic schedule during the winter, giving you more efficient help and more attention to detail during the purchase process.
The Costa del Sol real estate market is undergoing a transformation not seen since the COVID-19 era. This positive shift is not predicted to last long; so, we recommend taking the plunge if you have considered investing in our coastal gem. The recent 4.5% price drop according to SUR, along with December being the month to buy, is an opportunity no one should miss. Whether you are looking for an airy beach house, a secluded oasis of luxury or an outstanding offering on the edge of Marbella’s famous Golden Mile, invest and take advantage of these favorable conditions. Have you decided that now is the right time to buy a luxury property on the Costa del Sol? MDR luxury homes can help you find your perfect home.
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Myriam at
Myriam@mdrluxuryhomes.com
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