The Costa del Sol, long hailed for its sun, sea, and sand allure, has recently emerged as a beacon of unprecedented growth. In 2019, the region celebrated record-breaking visitor figures, a trend that continued into 2022 with revenues reaching a staggering €17.081 million. The transformation didn’t stop there; in April 2023, Marbella witnessed a remarkable surge in hotel room rates and occupancy, breaking the shackles of seasonality with an astounding 74.14% occupancy rate. This is a pivotal achievement in the world of tourism.
What sets this region apart is not just its tourism success but also the thriving real estate market. Nearly 300,000 foreigners, constituting 18% of the population, call the Costa del Sol home. In 2021, the area experienced its busiest year in property sales since the pandemic, with prices maintaining a steady upward trajectory. The luxury real estate market witnessed an unprecedented boom, with foreigners making up 90% of buyers.
The statistics tell a compelling story. By the end of 2020, new-build property sales had skyrocketed by 41%, and the trend persisted into 2021. February of that year saw one-fifth of homes on the market sold within a week, while 16% were off the market within a month. The Costa del Sol is not just a tourist haven; it’s a real estate goldmine.
This review merely scratches the surface of the Costa del Sol’s remarkable resurgence. To delve into the details and understand the factors driving this unprecedented growth, read the full article.
Explore the full story of Costa del Sol’s resurgence by reading the complete article here.
