The Costa del Sol has been one of Europe’s top tourist destinations for a long time, and it is currently an ideal place to buy affordable properties and enjoy a lower cost of living. “This stunning stretch of coast ticks a lot of boxes. The weather is incredible, with 320 days of sunshine a year. It’s easily accessible, just a short hop from most European cities, with an excellent airport in Málaga,” says McMahon. “And it has something for everyone: top-notch golf, marinas, historic cities, museums and shops, restaurants, and nightlife.”
And it’s becoming even more desirable. “There has been an increase in the number of people coming for longer stays, combining vacations with working from home. And there has been a rise in the number of Americans buying second homes here, making this coast truly international,” says McMahon.
“There’s a wide range of properties for sale, whether it’s a small studio, an apartment overlooking a golf course or the sea, or a luxurious villa by the beach,” says McMahon. You can buy a one-bedroom apartment with sea views, ready to move into, for just 99,000 euros. For nearly double that, 185,000 euros, you can get an apartment in a beachfront complex with sea views.
In addition to the low property costs, Spain is also one of the few overseas destinations where it is easy for a foreign buyer to obtain a bank mortgage. “Banks are open and willing to lend,” says McMahon, noting in his report that interest rates remain relatively low, with variable-rate mortgages starting at 3.2% (2.7% for the first year) and fixed-rate mortgages ranging from 3.9% to 4.7%.
Insider tip: Prices are set to rise as financial and tech companies are setting up offices here, transforming it into the new “Silicon Valley” of the Mediterranean. “This is huge for a coast that is already generating significant interest among international buyers,” says McMahon.
Read the whole article here: https://forbes.es/lifestyle/341939/la-costa-del-sol-entre-los-cinco-mejores-lugares-para-comprar-inmuebles-baratos-en-todo-el-mundo-segun-forbes-usa/