Estepona 2022 – What a Year It Has Been!

What a year it has been!

We start by highlighting that Estepona is better than ever. This year alone we have seen the inauguration of a large underground car park in Plaza del Ajedrez and the brand new seafront promenade, including a large pedestrianised area and a new cycle lane, which has greatly reduced the level of traffic on Avenida de España.

This beautiful space follows the theme of “The Garden of the Costa del Sol”, with flowers, plants and palm trees lining the walkway.

Furthermore, the brand new Town Hall of Estepona is located in the centre of town and will soon be inaugurated. It will introduce new systems to facilitate due diligence related to property sales and other administrative matters.

The new Cultural Centre of Estepona is currently being built on the seafront promenade between Estepona Port and the Old Town. It will be a tall building designed to become an exciting new space for the city, including cafés, libraries and a viewing point overlooking the sea. This project reflects the significant investment currently taking place in Estepona.

Estepona undoubtedly stands out and continues to be a fantastic place to live, remaining extremely popular with property buyers on the Costa del Sol.

We started 2022 with a very strong property market. Prices remained relatively high to match the level of demand from buyers arriving from all over the world.

However, we felt that prices were initially somewhat overinflated. We have been very open about our opinion regarding the level of overvaluation taking place in the market, which created unrealistic expectations for sellers.

July 2022 marked a turning point for the property market in Estepona. Prices have undoubtedly been influenced by the war in Ukraine, the rising cost of living and the political and financial instability affecting Europe as a whole.

As a result, property prices in Estepona have softened slightly, reaching what we believe to be a more realistic level. Although Estepona is very much “in vogue” and buyers continue to search for their dream homes here, it remains a traditional Spanish town with authentic charm — something our clients truly appreciate and what makes Estepona so unique.

We feel very fortunate to work closely and personally with both our buyers and sellers. We always say that an estate agent is only as good as the quality of their service and the properties they represent. We are proud to receive regular recommendations and listings from both new and repeat clients after 23 years in business.

Looking ahead to 2023, we feel very optimistic. We already have some excellent new listings lined up and we look forward to introducing our buyers not only to their new homes, but also to their new lives in the sunshine.