Even the rise in interest can’t cool down the hot Real Estate market in Costa del Sol. Sales are a little less but prices continue to rise.
MARBELLA, MALAGA, SPAIN, May 25, 2023/EINPresswire.com/ — Costa del Sol is one of the most dynamic and profitable real estate markets in Spain and Europe, with strong demand, high sales and rising prices. According to the latest data from the Association of Registrars (Colegio de Registradores), the average price per square meter of property on Costa del Sol increased by 6% in 2022 compared to 2020 and by 10.7% in the third quarter of 2022 compared to the same period in 2021.
This positive trend is attracting US and foreign investors who are looking for a safe and lucrative investment opportunity in Spain. Moreover, with an investment of more than €500,000 in real estate, investors outside the EU can obtain a golden visa for Spain, which grants them residency rights and access to the Schengen area. According to Global Citizen Solutions, a leading consultancy firm for golden visa programs, Spain is one of the most popular destinations for golden visa applicants, especially from China, Russia and the US.
One of the areas that is experiencing the highest interest and activity from investors is Marbella, where villas are being flipped for profit. House flipping, the practice of buying and selling a property quickly for a profit, is becoming a common and successful strategy for real estate investors on Costa del Sol, especially in the Marbella area. According to Plexo Properties, an international real estate company that specializes in finding attractive investment projects for foreign investors, house flipping increased by 25% in 2022 compared to 2020 and is expected to grow further in 2023.
Plexo Properties helps foreign investors find attractive investment projects on Costa del Sol by offering them a wide range of properties, from new builds to resale properties and plots. Plexo Properties works in partnership with the best professionals in the industry to provide its clients with financing options and legal advice. Plexo Properties also offers its clients access to exclusive listings that are not available on other platforms.
Plexo Properties’ CEO, Mikael Hansen, commented: “We are very satisfied with 2022 and we are confident that 2023 will be even better. We have a great network of professionals who work hard to provide the best service and advice to our clients. We also have an outstanding portfolio of properties that cater to the most discerning investors. Costa del Sol is a unique place to live and invest in real estate, and we are proud to be part of its success story.”
Investing in real estate on Costa del Sol offers many benefits, such as high returns on investment, rental income, tax benefits and lifestyle. Costa del Sol’s real estate market has consistently grown over the years, with an average annual appreciation of 5%. Costa del Sol has a high demand for holiday rentals throughout the year, especially in the summer. This allows investors to generate income from their properties when they are not using them. Spain offers favourable tax conditions for foreign investors who buy property in Spain, such as reduced VAT rates, exemption from capital gains tax and inheritance tax for EU residents
Source: www.einnews.com
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