What’s the Costa del Sol property market like at the moment?
January 2024

This without doubt continues to be the question I get asked most! January 2024 has got off to a busy start with many agents reporting positive sales activity. There has certainly been an increased number of inquiries in January from buyers planning to come out early in the year.

The central theme of a shortage of properties will continue in 2024

Current demand outstrips property supply. The central theme remains the shortage of good resale properties and also new builds available on the market. There continues to be more buyers from an increasing number of diverse countries who are looking to buy a home, or invest on the Costa del Sol than there are good properties available for sale.

Is now a good time to buy a property on the Costa del Sol?

As a buyer you want to buy a property at the best possible price and as your agents, our core intention is to help you do that.

Are house prices higher than they were two years ago? Yes. Are house prices better value now than they will be this time next year? I believe that will prove to be the case, so now is as good a time as any to buy a property on the Costa del Sol.

Opportunity for buyers to secure their ideal properties, despite the competition on the Costa del Sol property market.

Buying a good property in the current climate has become somewhat of a competition.  Those buyers who have their finances ready are more likely to secure the properties they desire. If you genuinely intend to buy a property this year, it’s time to get serious and have your finances in order.

Buyers visiting in the first quarter of the year generally face less competition from other buyers, so if the timing works for you, it could work to your advantage.

Costa del Sol New developments

New development projects are sold out before construction is underway and even sometimes even before it has started. Given the shortage of quality resale properties on the market, demand for new developments will continue to be high and sales will continue to thrive in 2024.

It’s a sellers’ market

Due to a shortage of quality stock that has resulted from significant buyer activity over the past three years, property vendors generally find themselves in a strong negotiating position. Of course each transaction is different and the balance of ‘power’ in the ‘seller : buyer’ relationship is unique each time.
 
It is my view that the Costa del Sol market is going to continue to be buoyant throughout 2024.  I think the number of transactions will be similar to that of 2023, but the transaction values will be higher. There is a definite trend to quality and developers will continue to target the luxury market.

Perhaps now, more than ever before, working with an experienced agent to advise you when buying a property will be critical to your successful transaction.

You can download the full 2024 Costa del Sol Market Forecast HERE


To arrange a time to talk through the market and discuss your personal situation email us at [email protected] or reach out to us using the form on the right.

Interested in reading a snippet from our market forecast from the previous year? Click HERE

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