Askthose who have long owned property in this glorious part ofAndalucía, and they might consider it slightly ridiculous toquestion the merits of investing in real estate here. But at BMSotogrande, we can also completely understand that you’ll besecond-guessing, and third-guessing, every investment decision youmake amid the recent ups and downs we’ve seen around the world.
We are, ofcourse, largely referring to the turbulence brought to theinternational economy – and even people’s freedoms – by thecoronavirus crisis. But there are also other recent factors, such asBrexit, that might be causing some hesitancy in you when consideringproperty to buy.
So, let’srun through some of the reasons why Sotograndeproperty consistentlystands out from the alternatives when it comes to genuinely‘COVID-proof’ investment opportunities.
Sotogrande is simply a fabulousplace to live, work and play!
It mightbe the “obvious” point to make, but it’s an important one,nonetheless; the property markets that are most likely to continue tothrive during broader global uncertainty and struggle, are those thathave always been attractive in times both good and bad.
Sotograndedefinitely fits the bill here – it was recently described, quitejustifiably by British newspaper TheTimes, as “Spain’ssecret playground for the super-rich”. Sure enough, Sotogrande isinhabited and frequented by politicians, royalty and other members ofthe international elite.
But evenif you aren’t much into ‘celeb-spotting’, you could scarcelybeat the mix of high-class leisure and sporting amenities here, orthe area’s finest of fine-dining establishments.
The property market here has provedconsistently robust in times of difficulty
TheCOVID-19 pandemic doesn’t represent the first headwinds that theSotogrande property market has ever faced successfully; after all,there was also the late 2000s and early 2010s global economicslowdown. Back then, the value of Sotogrande homes held up well, evenwhile prices in other areas of the Costa del Sol fell – a trendattributable largely to the local residents’ financial status.
Lookingnow to the impact of the latest crisis, it is interesting to notethat new developments in the Costa del Sol being put on hold hashelped prevent an over-supply of property. This – combined with therefusal of local property owners to panic – has helped guardagainst any significant drop in prices.
The Costa del Sol and Spanishproperty markets are already recovering nicely
Indeed,according to valuation firm Tinsa, average market values for homes inSpain’s Mediterranean coastal areas have actually gone up by 5.1%over the past 12 months as of February 2021, compared to the 1% fallseen in capitals and large cities. This hints at another potentialeffect of the pandemic; would-be property buyers choosing idylliclocations like Sotogrande as bases from which to work from home, bothduring and beyond the immediate crisis.
Furthermore, the keyreal-estate market indicators for Spain as a whole are lookingincreasingly healthy as the country plots its path out of the worstof the pandemic. Official data released this month revealed thatproperty transactions in the country went up by 32% in March comparedto the situation a year earlier, reaching the highest level sinceJuly 2019.
What doesall of this mean? Well, it indicates that if you’re waiting for themost opportune time to invest in Sotograndeproperty from a priceperspective, there may not be a better moment than now to firm upyour interest in local real estate.
Here at BMSotogrande, we expect plenty ofpent-up demand for Sotogrande property to be released as vaccinationrates rise across Europe and the coronavirus pandemic graduallybecomes a mere memory. To learn more about the latest opportunitiesand to have a chat with us about your own ambitions in Sotograndeproperty, don’t wait any longer to getin touch with our friendly team.
