Recap of the Costa del Sol & Sotogrande’s sales market during the first six months of 2021
03 August 2021
Director of Alanda Properties
3rd of August 2021
With the first six months of 2021 coming to a close, we can now look back and do a balance of what it’s been like, and what a ride it’s been!
As we had been repeatedly pointing out, the drastic tax cut in property taxes in Andalusia from April 2021 sent the real estate market into frenzy mode, particularly in Marbella and Sotogrande, where the market high-end has been booming since March.
The last five months have been nothing short of hectic. Truly, one has to back to the boom days of 2007 to see such an active sales market.
August, in line with what we could reasonably expect, has been the inflection point where everything fizzles down until the end of the holiday season. August traditionally marks the low season in the real estate market as everyone has on their minds the holiday season. The market will pick up once more in September through to mid-November.
I firmly believe that as from September, we are going to experience yet again a very strong sales season fuelled again by the massive tax cut on buying property. Buyers will be taking advantage of the spectacular tax cuts offered by the regional government of Andalusia until the end of the year, which in most cases amounts to a two-digit tax save! It’s truly a once-in-a-lifetime opportunity to pay such low property taxes. Buyers should seize this unique market opportunity as these tax breaks are due to end on the 31st of December this year.
Contact me at Alanda Properties for bargain-priced property or long-term lets in Marbella, Sotogrande, and the Costa del Sol. You will be surprised to learn the deals this new market has to offer on prime locations.
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