 Costa del Sol - Calahonda & Mijas Property
2007 report
This report was prepared by Engel & Völkers, a real estate agency with offices in many of Spain's most popular destinations. It is reproduced here with permission. More information on Englel & Völkers
Calahonda & Mijas Costa del Sol Property
Calahonda, and its adjacent regions, such as
Riviera del Sol, Miraflores and La Cala provide
many attractive amenities. In addition to second
home owners, this area attracts many permanent
residents, especially families who are looking for
a main residence offering good value for money.
Property here is made up of attractive apartment
complexes, townhouses and villas. There are
three commercial centres with a good variety of
shops and services, restaurants, cafeterias and
bars. The area offers plenty of sports facilities
with 10 golf courses within a 10 kilometre radius.
“La Cala Golf Resort” is the largest golf resort in
Europe featuring a David Leadbetter Academy, a
five star hotel and one of the most modern health
spas in Spain. Calahonda also has its own port
– Cabopino, which features a great range of
water sport facilities, tennis courts and health and
fitness centres with many good beaches close by.
The Costa del Sol Hospital, which is considered
the best state-funded hospital in the region is
located nearby and there are various good schools
to choose from.
The Buyer
The main market is British (40%), followed
by German (25%), Spanish (15%) and then a
mixture of Scandinavian, Swiss, Dutch, Irish
and other nationalities. The majority of buyers
are attracted to the fact that this area has a good
tourism infrastructure which is specifically geared
to foreigners. The most requested properties
are apartments (particularly penthouses) and
villas and the average spend for an apartment is
around €260,000. The most requested locations
are Calahonda, Riviera del Sol and Miraflores.
Buyers here want locations close to/beside the sea
and nearby to all the amenities, shopping etc.
Property Values
Average prices for apartments are €160,000 for
a 1 bedrooms, €220,000 for a 2 bedroom and
€300,000 for a three bedroom. A penthouse
with 2 bedrooms can be acquired for an average
price of €360,000 and a townhouse with 2
bedrooms for €340,000. The average price for
a villa with three bedrooms is approximately
€700,000.
Investor Tips
Many areas are still well priced including
Miraflores, La Cala and some parts of
Calahonda itself. There are plans to built new
hotels and a marina which will boost tourism,
make the area more attractive for residents and
should increase the demand for holiday rentals.
Torrenueva is a charming place that still offers
reasonable prices with facilities that may be
lacking in areas which have been developed
more recently. |
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