Buying a second home in a popular tourist area can be a profitable long-term investment. You can use it as inexpensive accommodation for your own relaxing holidays, but you can also earn an additional income through renting it out as a holiday let. You'll gain a high degree of financial security, as property can usually be relied upon to improve in value over time. In recent years, the luxury sector in particular has seen annual property prices increase by an average of nineteen percent. However, you'll gain the most advantages from a second home if you choose the best location. Ideally, you should consider the possibility of it becoming your main residence, particularly when you retire.
Many investors are attracted to the Costa del Sol for its wide selection of luxurious, yet affordable properties. You'll find it's less expensive to live in the area than in countries such as the UK or France, making it a popular destination when you reach retirement age. The region has superb amenities including an excellent public transport system and close proximity to the busy international airport at Malaga. When you choose to live in the Costa del Sol, you'll enjoy a warm climate. Even in the coldest month of January, the temperature rarely falls below fifteen degrees Celsius and on average, the sun shines for 320 days every year. You can choose from several desirable locations in the Costa del Sol that are ideal for second home investment.
You'll adore the spectacular scenery of Marbella with its views of the Mediterranean Sea to the south and la Concha mountain to the north. The town is famous for its luxury lifestyle. You can dine at many high-quality restaurants that serve local and international cuisines and enjoy the lively atmosphere of sophisticated bars and nightclubs. There are many outdoor activities for you to pursue. If you love to sail a yacht, it can be safely moored at the sheltered marina of Puerto Banus. If you're a golf enthusiast, consider properties in the exclusive neighbourhood of Nueva Andalucia where there are several championship courses. When you purchase a second residence in Marbella, there's enormous potential for renting it to tourists throughout the year. You can quickly resell your property and make a profit, as prices in Marbella generally realise an annual increase of approximately 2.8%. The town is popular with investors from the UK, Denmark, Sweden and Norway.
To the west of Marbella, you'll find the picturesque town of Estepona that has retained the charm and character of a fishing village. You can choose a quaint, whitewashed villa near the promenade or an elegantly refurbished, traditional property in the Old Town. Estepona deserves its title of the Garden of the Costa del Sol as there are flowers everywhere. One of the most beautiful town squares is la Plaza de las Flores which has beautiful architecture, a fountain and spectacular floral displays. You'll love the surrounding scenery with its impressive views of Los Reales Mountains, pine forests and the Mediterranean Sea. If you enjoy peace and quiet, the wide, sandy beaches in the area are perfect. There are several developments in Estepona that provide you with investment potential. To the east of the town, you can choose a luxury apartment with excellent facilities and a sea view. Other areas you should consider include los Granadas del Mar, Alcazaba Beach and Dominican Beach.
If you travel east of Marbella, you'll find Fuengirola, one of the most popular resorts on the Costa del Sol. It has a total of eight sandy beaches, lined with multi-storey hotels. You can invest in a luxury apartment along the beachfront. Around one quarter of the resident population is made up of UK nationals, so English is frequently spoken in many shops, restaurants, bars and cafes which are located along the promenade. If you love shopping, Fuengirola has independent boutiques and the Parque Miramar, the largest shopping mall on the Costa del Sol. On the high ground overlooking the town, is the tenth century fortress, the Castillo Sohail. Here, you can look forward to Fuengirola's festivities, including regular live music events and a variety of entertaining fairs devoted to themes such as cuisine and handmade crafts.
At the extreme west of the Costa del Sol, you'll discover the dramatic scenery of Manilva. You can enjoy strolling along wide, sandy beaches, admire the towering cliffs and explore streams meandering through valleys full of aromatic pine trees. Manilva is a fairly relaxed town with a selection of luxury properties to choose from. For a traditional fishing village atmosphere, you could choose the el Castillo area. Here, you'll find scattered groups of quaint bungalows and villas overlooking the quiet beaches. If you prefer being near to lively bars and restaurants, you should consider la Duquesa which is by the town's marina. To invest in a luxury villa in an exclusive gated community, your ideal location is in the nearby hills. At la Paloma, you can choose a modern, luxury apartment or villa with spectacular views of the Rock of Gibraltar and the Mediterranean Sea. On particularly clear days, you might even see the mountainous coastline of North Africa.
To the north of Estepona and Marbella is Benahavis, and together, the three towns form the fabled Golden Triangle. Here, you'll find the most exclusive investment opportunities in luxury villas and apartments. If you love peaceful surroundings away from the busy tourist areas of the coastline, the picturesque town of Benahavis is ideal. You can admire wonderful views of the nearby mountains, hills and woodlands. Benahavis is actually one of the most sought after locations. If you invest in property here, you'll be able to command the highest rentals of the entire Costa del Sol. In the Old Town, you can choose one of the most expensive, refurbished, luxury homes that retain unique features. On the outskirts, there are many newly-built luxury apartments for you to choose from, including those in the exclusive La Zagaleta estate. If you'd like to play golf, there are many luxury properties near the courses of Los Arqueros and La Quinta.
Between Marbella and Fuengirola, you'll find Mijas, with its modern amenities, convenient transport and sophisticated restaurants and bars. The town hosts entertaining festivals in the summer along with regular weekly markets. Whatever your taste, you'll find an extensive range of investment opportunities in Mijas. If you prefer a large, traditional property, the Old Town is perfect, but for an exclusive, modern development, you should choose the shoreline. You'll love the relaxed atmosphere of Mijas Pueblo with its exclusive selection of quaint, whitewashed villas. They have an authentic air of Andalucian charm and could easily rival those at Estepona for being picturesque. If you'd like a lively area with beachside bars, choose a luxury apartment overlooking the beautiful sandy beaches at Mijas Cala. Here, you can gain a high holiday let income, as Mijas is such a desirable location, particularly for UK tourists.