La Cala and the Costa del Sol is building again
You can’t miss the reappearance of cranes on the horizon and the new developments which are springing up along the Costa del Sol. As we are based in La Cala in Mijas Costa we’ve been noticing it here more than ever and are delighted to see how many jobs are being created and the renewed interest in property in the area. There hasn’t been this much activity since the golden age of real estate at the beginning of the millennium and its being driven by demand from foreign buyers, as well as the reactivation of Spanish buyers.
A third of all the new development projects completed in Andalucia between March 2018 and 2019 were in the Malaga province according to the Sur in English. They add that two reports from a real estate firm and a valuation firm confirm the good health of the real estate industry in the Malaga province, both in terms of new properties being built and the increasing property prices. The Tinsa report showed that property prices here in Mijas have increased by 15.3%, but the company’s commercial director stressed that there’s a long way to go to reach the top prices seen in 2007. He also noted that lending controls and more gradual price increases protects the Costa del Sol from the real estate bubble that burst due to the financial crisis. Read more
The confidence in the Costa del Sol being shown by property buyers is being echoed by businesses who are investing in the area and creating more for the tourism sector and jobs for residents. Greek hotel chain Ikos are investing 150 million euros in a hotel in Estepona which is due to open in May 2020. The Four Seasons group are opening a luxury hotel and private residences on the beachfront of Marbella, making an investment of 650 million to make this project a reality and there are many more businesses investing in the Costa del Sol.
We are very happy to see building projects spring up all around us in La Cala, as we’re seeing a large growth in demand for long term rentals throughout the year and holiday rentals in the peak season from April to September. La Cala is desirable because of its great beach area, community feel, nice restaurants, bars, amenities and the large weekly market. Tenants and holiday makers like the proximity to Fuengirola and Mijas Pueblo, the short trip from the airport and the great golf courses and leisure facilities nearby.
Our holiday rental clients love apartments in the La Cala Golf Resort, Dream Gardens and La Cala Azul. They like to be close to the beach, or within walking distance of the centre of La Cala, as well as developments with nice communal pools and gardens. Contemporary styling and open plan living is also popular, as well as great terrace space and opportunities for outdoor eating and socialising. Inland golf properties are also popular, as guests like the quiet, the views and the chance to be within walking distance of a golf course.
We are actively seeking more holiday rental properties in La Cala de Mijas to meet demand, so if you own a property, or are buying one of the new off-plan developments and thinking about renting it out please talk to us. The sooner we can list your property and get it promoted on our website, social media and out to our partners, the sooner we can get it rented out. Pop into our office in La Cala and let’s discuss how we can help you earn rental income.