Sunshine, a growing economy, and captivating culture – the Málaga region has it all! And this spring, it seems the world agreed. Málaga Airport witnessed a record number of visitors during the spring season (March-May 2024), solidifying the Costa del Sol's position as not only a top tourist destination but also the perfect location to relocate or invest!
If you've been dreaming of moving to paradise or just investing in property here, you might be wondering: is summer 2024 the perfect buying time? Let's weigh the pros and cons to help you decide.
Sizzling Advantages:
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Growing Market:
The Costa del Sol's property market continues to see positive growth. While the breakneck pace of 2022 has eased slightly, property prices are still on the rise. Reports suggest an average increase of around 5-7% year-on-year, with some areas like Marbella experiencing even higher growth of up to 15% in recent years. While this indicates a hot market, it's not without its advantages for buyers. With a stable economy and increasing rental yields, the Costa del Sol remains an attractive investment opportunity.
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Peak Season Appeal:
Visiting the Costa del Sol in summer allows you to experience the region at its most alive. Bustling beaches, buzzing restaurants, and a calendar packed with events showcase the area's vibrancy. This can help solidify your decision if this energetic atmosphere aligns with your dream lifestyle.
Summer Downsides:
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Limited availability:
After a busy few months of Spring 2024 there is limited stock available. It might be prudent if you can´t find your ideal property to wait until after the summer rush. Many owners delay putting their properties on the market until September so that they can capitalize on the peak rental season! However, Summer is a great time to establish exactly where you want to buy!
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Reduced access:
The hot rental market in the summer also means that it is often difficult to visit the properties you want to see as they are rented! It is a frustrating time, so maybe use it relax by the pool and start your property search in earnest in early September!
The Verdict: It Depends!
Summer 2024 could be a fantastic time to buy, especially if you find the property you are looking for. However, if you don´t get “that feeling” from the properties you visit, don´t rush into it! Wait a few months and see what Autumn brings! The property market is stable and we are confident that the right property will come along in 2024!
Ultimately, the best time to buy depends on your individual priorities and Marbella Homes will help guide you. Contact us now.