The Property Market In Estepona Since Brexit
- Share:
-
-
-
We would like to share an insight into the current property market in Estepona, as it has been several weeks now since the result from the Brexit vote, which we know was a big surprise to many!!
We never like to comment or give our opinion in regards to the political decisions that have been reached in this country, or any other for that matter, as it is our duty to remain neutral. However, we were surprised with the result of the Brexit vote and along with many others, we did wonder what the impact would be on the property market on the Costa del Sol and more specifically, in Estepona.
As we expected, we initially had a lot of questions from vendors and potential buyers from the UK concerning exchange rates and the effect that this would have on their sale or purchase. It was a case of “riding the wave” up to certain extent, and for a week or two this is what happened.
Summer in Estepona and the Costa del Sol is sometimes known as a quieter time for estate agents, as a lot of people are on holiday and do not want to spend their time looking at properties… However, this has without a doubt been the busiest Summer that we have had in years. As we work closely with our clients, we have come to understand that they do not want Brexit to get in the way of their plans, they have chosen to proceed with their intended purchase, which some had been planning for some time, for many reasons. The cost of living in Estepona remains so reasonable when compared to the UK, and crucial factors such as the climate, the outdoor lifestyle and the quality of living are just too good to put on hold. Also, a very important factor to consider is that although the exchange rate has had a negative impact on buyers, this % is often negotiated in the purchase price!! So it does not need to cost you that much more than it would have done before the Brexit vote.
Taking into account that you can purchase a 3 bedroom apartment next to Estepona marina for just 149,500 euros or a 4 bedroom detached villa near Don Pedro for 378,000 euros … It is still a buyers market if you know where to look!
Now in September, which is always a busy month, we are doing our best to keep up with the number of requests for information that we receive on a daily basis. Our clients absolutely love it here and the amazing improvements that our town has seen over the years. Having been established in this area and selling properties in Estepona for the past 18 years, we are so proud to work and live in this wonderful part of the world. We were here before, during and after the recession and we can safely say that we have absolute confidence in the future for Estepona. If you are considering a purchase, we recommend you make a start today, not only because it is a strong financial investment, but because life is for living!!
As always, we welcome any questions.
Thank you for reading and have a lovely week (hopefully filled with tapas and a glass of wine in La Casa del Rey!!)
The Future Homes team –
