Heavily discounted holiday homes are still available to purchase across the Costa del Sol despite an upturn in the local real estate market which has been given a boost by foreign investors flocking to the region to pick-up cut price holiday villas.
For many years the Costa del Sol has been one of the most popular regions for Brits looking to buy a holiday home in the sun. With over 300 days of sunshine every year, long stretches of beautiful beaches and plenty of luxurious holiday homes.
However following the increase in value of the Euro and the long standing legal battle against illegal planning permission, which have plagued holiday home owners for the last two years, the number of Brits looking to buy in the region began to dive. This lead to a surplus in supply of holiday apartments and villas, thus leaving many developers and sellers with no option but to reduce their asking price for property across the Costa del Sol region.
With many luxury holiday villas and apartments available at heavily reduced prices a new breed of buyers have been attracted to the region. The influx of Russian and Eastern European investors have begun to snap up bargain deals restabilising the local Costa del Sol property market.
This more stable market has resulted in prices increasing over the last 8 months. However despite these increases there are still some great value holiday villas and apartments available to buy in some of the most popular Costa del Sol resorts.
Mijas Costa to the west of Malaga and Calahonda to the east of the regions capital are two of places where the best value property can be found. With holiday apartments still on the market at the 200,000 mark and luxury four bedroom family villas available from just 400,000 now seems to be the time to buy.
The advice from local estate agents is to act quickly if you want to buy in the Costa del Sol as despite some sources suggesting prices will remain low for two more years the increase of prices in some areas of the Costa del Sol suggests that the market may pick up at a quicker pace.