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Property in Costa del Sol
The Costa del Sol, on Malaga’s coastline, is one of the best known tourist destinations in Spain and extremely popular amongst foreigners to buy a property. It is located in the south of Spain with Costa de la Luz to the West, Cost Tropical to the East and provinces of Sevilla and Jaen to the North.
Costa del Sol is 160km long and due to its perfect climate and sandy beaches it began to become a popular tourist destination in the 1960’s. Later on many foreigners have decided to settle down in Costa del Sol or buy a holiday home and today lives more than 200,000 none Spanish EU citizens on a permanent or temporary basis.
The popularity of Costa del Sol is also reflected in the number of new promotions taking place, which during the last 15 years has exceeded to over 500,000 new properties being built. In 2006 the number of new properties built was approx. 40.000 (a decrease of 6% compared to 2005) which follows a general trend in Spain where the construction of new properties has reached a more moderate level.
Due to this building boom most of the coast line has already been occupied by hotels or new complexes but it is still possible to find less exploited areas on the first line to the beach, in the West and East of Costa del Sol.
The price is also an important reason why we see buyers looking further inland or east of Malaga for properties.