Costa del Sol's Unprecedented Growth

The original sun, sea, and sand destination is also the home to some of the images that most typify Spain. While these aspects hold true, the region is currently undergoing a significant transformation.

In 2019 the Costa del Sol registered its best-ever year regarding visitor figures. In 2022, it broke the record in terms of revenues reaching €17.081 million In April 2023, the city of Marbella witnessed a remarkable surge in hotel room rates and occupancy, reaching an astounding 74.14%, achieving one of the great dreams in the world of tourism: the rupture of seasonality. Meanwhile, the real estate market continues with its upward trend.

Costa Del Sol / Second First Residences

The Costa del Sol is one of the most popular holiday destinations in Spain, as well as one of Europe’s favorite relocation spots.

Officially, nearly 300,000 foreigners live there, comprising 18% of the population, and in some resorts, foreigners make up nearly half of the inhabitants. In 2021, the area saw its busiest year of property sales since the pandemic crisis, and prices have continued their steady upward trend.

By the end of 2020, sales of new-build properties had skyrocketed by 41%. Sales in the luxury end of the market achieved a level never witnessed before, with foreigners comprising 90% of the buyers. This trend continued in the first quarter of 2021, and during February of that year, one-fifth of the homes on the market were sold in less than a week, while 16% sold within a month.

Portugal's Secret

Portugal has received major media coverage as a tourist destination, and in 2022, it was named the Best Tourist Destination in Europe by the World Travel Awards for the fifth time in six years. The country has also become a key destination for real estate investment. Why all this buzz?

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