The Costa del Sol is one of the most popular tourist destinations in the world. It is no secret that the worldwide Covid pandemic brought a virtual standstill to any form of tourist activities, causing wide-spread loss of income for those whose livelihood depended on the tourism trade.
As countries are recovering from the after-effects of the pandemic, most keenly sought after destinations are being opened up for a revival of the tourist trade with renewed enthusiasm and attractive features to lure tourists from all over the world. And Costa del Sol is in the forefront of development and revival as a lucrative and exciting tourist destination. The timing for purchasing an investment property for rental purposes in the tourist trade has never been better, as the demand for lucrative and exciting tourist destinations is experiencing a phenomenal upward surge. Not only as a holiday home, but also to rent out when the property is not in use
Expats are increasingly making Costa del Sol their permanent choice of residence, and thereby offering a multitude of support systems for those wishing to settle in Costa del Sol. When it comes to choose of property one could choose to live in the busy surrounds in the midst of activities of hotels, restaurants, harbours and sporting venues or one could choose a villa in a more rural environment in a number of the small-town settlements all along the coastline. Either way, there is a property suitable to every lifestyle need of the discerning investor.
Another exciting development in Malaga is that Google is establishing a new cybersecurity centre. Google is looking to invest a total of 650 million dollars into this exciting venture, which will not only create lucrative employment opportunities in the Information Technology world, but making investing in Costa del Sol one of the best investment opportunities in the world which guarantees a solid return of investments in the area.
Furthermore, plans are moving ahead for bringing EXPO 2027 to Malaga. In essence the Expo 2027 will offer knowledge, and make available diverse solutions to make cities more environment friendly while promoting sound ecological practices enabling cities to move towards a more sustainable and environmentally friendly manner of city development in the future. Businesspeople and the City of Malaga are working together on the Expo 2027 initiative that will offer solutions to challenges to cities globally, and will address the issue of caring for the environment facing many cities in the future in the modern era. Not only that, but the Provincial Government also aims to utilise the developed site where the Expo will be hosted, once the Expo is concluded, and turn it into a sprawling developed aimed solely at viable ecological solutions and focus on sustainable methods for future city developments in the world, creating further very exciting investment opportunities to compliment residential and business investments currently being considered.
Not only is Spain is on average 8% cheaper than most other European countries as far as basic consumables like food, groceries and other region-specific commodities, but the Andalusian Government has approved a decree for the reduction in the Transfer Tax paid on the purchase and sale of second-hand property of only 7%, making this the lowest tax rate of its kind in the country, which means that investors will be able to stretch their budget a little further, leaving one with extra money to spend on the purchase of property in Costa de Sol.
Furthermore, the abundance of existing properties for sale makes investing in Costa del Sol a very lucrative proposition. For the more discerning investor, purchasing a parcel of land for development of houses, villas or apartments makes an equally exciting alternative to owning property in Costa del Sol.
As with any other real estate market in Europe, Prices of properties do fluctuate from year to year, and for European investors this is a well-known fact. Notwithstanding price fluctuations, Costa del Sol is attracting investors from the United Kingdom, Netherlands, Germany and also from the Nordic countries like Sweden, Denmark and Norway. In fact, more and more investors from other parts of the world like the Americas, Eastern Europe and even Asian countries are drawn to the lucrative and beneficial investment opportunities presented in the Costa del Sol.
So, are you now ready to embark on the exciting journey that leads to investing in Costa del Sol? Then look no further.
If you would like assistance to find properties in Benahavís, Nerja, Malaga, Marbella or the wider Costa del Sol, contacts info@dmartiis.com.