2021 was a bumper year for new builds in the Costa del Sol.
According to the College of Architects of Málaga, 7552 new homes were completed – which is a 22.5% increase compared to the previous year, and a 67% increase compared to 2019. Most of these were located in Málaga City (2006). However, Estepona took second position with 1237 new build homes, followed by Fuengirola (687) and Marbella (681).
2021 also saw a huge rise in building licence approvals, with the total number up by 15.5%.
Collectively, these statistics suggest that the new build market is accelerating fast. Demand for a ‘fresh out of the box’ home appears to be rising and – in our opinion – it’s easy to understand why.
Of course, your ‘dream’ property in the Costa del Sol will depend on your personal needs, tastes and preferences. But compared to older re-sale homes, new developments have many benefits to offer. And thanks to this new wave of construction, there’s certainly a lot of choice for prospective buyers.
Usually, new build properties in the Costa del Sol are bought off-plan. Which means, you have to wait for them to be built. And compared to re-sale homes – that are typically available to move in immediately – it could be many months before you get the keys.
However, at present, this isn’t strictly the case.
Numerous projects have been completing their first phases, as construction continued through the pandemic – and you can find many ‘key ready’ properties that have never been lived in, simply waiting for someone to move in. Just pick your favourite from the line-up and, if your finances are in order, the property could be yours in as little as 3-4 weeks.
If you choose to buy off-plan, some new developments in the Costa del Sol are completely customisable – depending on what stage the construction is at, at the time of purchase. The build itself could be modified in line with your wishes, and you’ll be given the option to choose the finishing touches – such as appliances, bathroom tiles, flooring covers etc.
Even if you opt for a new build that’s ‘key ready’, compared to a re-sale home, it’s still significantly easier to put your stamp on the décor. Replacing the previous owner’s interior design choices can quickly become a tedious (and costly) job. But with a new build, you’re given a blank canvas – that can be swiftly tailored to your specific tastes and preferences.
In an effort to improve their aesthetic and efficiency, many re-sale properties in the Costa del Sol have been refurbed in recent years. But the reality is, new developments still tend to be of a much better standard – constructed to a higher specification and built with modern materials.
As a result, not only do they look stunning, they’re also incredibly energy efficient and eco-friendly. Thanks to their state-of-the-art heating systems, they also tend to be cheaper to run.
Technically, the cost of a resale home (per square metre) is usually less than a new build. But in many cases, new builds still turn out to be the more cost-effective option of the two.
Why? Because you need to factor in any renovations. Whether the roof needs re-tiling, you’d like to knock a wall down, or just wish to update the décor, the cost of updating an old property can soon add up – particularly if you discover unexpected issues (e.g. mould, water damage).
By contrast, it’s possible to move straight into a new development – without the expense of any repairs or refurbishments. And under Spanish law, you’ll be given a 3 year warranty on building works, and a 10 year warranty on both design faults by the architect and structural defects.
All new builds in the Costa del Sol have an excellent location. With a focus on lifestyle, they’re typically situated in gated communities – surrounded by lush green spaces, with on-site security and a host of 5* amenities within the development itself (e.g. swimming pools, gyms, spas).
Set on the outskirts, they offer the best of both worlds.
They’re the perfect base to enjoy peaceful days in the sunshine, tucked away from the hustle and bustle, with spectacular views and lots of outdoor space to enjoy. Something that many people are prioritising since the pandemic! Yet they’re still just a stone’s throw away from the big towns and cities, with easy access to many shops, bars, restaurants and amenities.
Due to their enviable location and immaculate condition, brand new properties – particularly those in tourist hotspots such as Estepona and Marbella – are much easier to market.
They’re a popular choice for holiday-makers, generating a solid rental return during the summer months. And therefore, are a savvy option for investors looking to extend their portfolio.
Plus – when it comes to selling up – the value (and asking price) for new developments in the Costa del Sol has continued to rise over recent years, and it never takes too long for them to be snapped up by a buyer.
Think a new build property could be for you?
As a leading real estate agency, with an extensive collaboration network, we have a comprehensive selection of new developments for you to choose from. This includes developments that are exclusive to us – such as One80 Suites and Residences, Pure South and Eden Resort and Club – as well as all other new build homes currently available in the area.
Prices vary from a couple of hundred to several million euros. But they all boast the advantages listed above. And both off-plan and ‘key ready’ options are available, including a range of apartments, townhouses and villas to suit all needs, preferences and budgets.
At the moment, buyers are certainly spoilt for choice when it comes to new developments in the Costa del Sol – and we’re confident we have the ‘dream’ new build for you.
So why not take a look? See if one catches your eye?
Or, if you have any questions, please don’t hesitate to get in touch. We’re always happy to offer our expert assistance. Simply give us a call on +34 952 939 460 (+44 208 068 7606) or send an email to info@bromleyestatesmarbella.com and we’ll respond to your enquiry as soon as possible.
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