Marbella has highest property prices in Costa del Sol
Wednesday, 15 Feb 2006 12:41
Costa del Sol property prices are higher in areas favoured by international tourists
Marbella is the most expensive city in the Costa del Sol to buy property, with prices exceeding £2,000 per square metre.
Velez-Malaga, on the other hand, is the cheapest town in the Costa del Sol to buy property, with prices per sqm of £1,453.
The revelations comes as part of a report showing that towns in the Costa del Sol favoured by international tourists have much higher property prices than those towns favoured by Spanish tourists.
Spanish property portal idealista.com reveals that East Marbella has the highest property prices in all the Costa del Sol at £2,231 per sqm.
Owners in West Marbella ask, on average, for £2,016 per sqm, while in downtown Marbella properties fetch £1,984 per sqm.
This is much lower than Madrid and Barcelona, where the price of an average property is £2,708 per sqm and £2,998 respectively, but considerably higher than other Spanish towns in the Costa del Sol region.
Towns favoured by Spanish tourists, like Torrox, Estepona, Rincon de la Victoria, Mijas and Velez-Malaga have average property prices of between £1,624 per sqm and £1,453 per sqm.
But in towns which are a hit with British and German tourists, like Torremolinos, Fuengirola and Benalmadena, the average price per sqm is between £1,821 and £1,738.
In the provincial capital of Malaga, meanwhile, owners are asking on average £1,722 per sqm.