Costa del Sol Property Market 2023 - Overview
Where to invest on the Costa del Sol in 2023?
As we do every year, we’re here to provide you with the latest updates on the real estate scene along the Costa del Sol. Here’s a concise overview of the developments in 2023 and a glimpse into what we can anticipate for 2024.
In 2023, the real estate market along the Costa del Sol saw a contradiction. While the number of mortgages and property sales slightly decreased compared to 2022, prices continued to rise due to insufficient housing supply and the failure of a new government housing law.
The interest rate hike had a mild impact, especially in Malaga, where many properties were bought without mortgages. Forty-four per cent of home purchases in Malaga were mortgage-free, indicating strong purchasing power among clients or investors. Despite some decrease in demand following the interest rate hike, the demand remains high, leading to further price increases.
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