New houses and developments in Estepona
Newly built homes in Estepona
Between Manilva and Marbella, one of the most important municipalities on the Costa del Sol in terms of tourism and real estate is Estepona. A town that doubles its population every year thanks to visits from national and international visitors. According to the National Institute of Statistics (INE), more than 140,000 people traveled to Estepona in 2022, from just 76,000 inhabitants.
Its location, services, proximity to the Malaga capital, just 70 kilometers away, and the quality of its coasts, have made it one of the areas of the Costa del Sol with the greatest supply of newly built homes. Currently, there are 50 recently constructed developments in Estepona, including those that have been completed and those that are under construction. A figure comparable to cities such as Alicante, Valencia, the province of Seville, or the Balearic Islands.
According to the latest data on the new build market published by the Ministry of Transport, Mobility and Urban Agenda, the value of the square meter in Estepona rose by 2.90% in the last year, currently standing at just over €2,700/sq.m.
The average prices per square meter in the 5 most notable districts of Estepona are:
- Center, around €2,600/sq.m.
- Bel Air-Saladillo, around €2,800/sq.m.
- Bahía Dorada, almost €2,600/sq.m.
- Sierra Bermeja, above €3,200/sq.m.
- Atalaya-Benamara, around €2,800/sq.m.
What areas of Estepona have the highest number of newly built homes under construction?
Currently, the neighborhoods with the highest volume of developments are:
Estepona pueblo, where more than half of the new homes are concentrated. It includes the historic center, downtown, and the entire urban nucleus of the municipality, excluding the peripheral areas and newly created districts. Apartments, flats, and duplexes predominate, both in the interior and in areas near the port and the coast.
Nueva Atalaya. It is a very popular area for golfers. It is located in a natural enclave, between the mountain and the coast, and with countless golf courses in the area. It is the closest area to Marbella, only 16 kilometers away.
Cancelada. Located in the eastern area, this suburban district has grown so much that it has its own police station, health center, post office, and two bus lines. It is located in the interior of the Costa del Sol and very close to the large hotel complexes in the area.
Bahía Dorada, the namesake territory of one of the most important beaches in the town. A coastal area where the main residential complexes with sea views are located. Very close to daytime and nighttime leisure areas, hotels, and supermarkets.
What influences the price of new build homes in the city of Estepona?
In general, supply and demand are the determining factors for setting the price of newly built developments in Estepona. In particular, it is the municipal public entities that are responsible for approving construction permits, which will give the green light to recently constructed developments in the city.
This town is part of the top 5 cities in the province of Malaga, where more new homes are approved and built. The ranking is led by Fuengirola, followed by Marbella, Malaga capital, and Estepona. According to the College of Architects of Malaga, in 2022, only in the third quarter of the year, 217 new construction properties were approved.
Estepona is part of the top 5 cities in the province of Malaga where the most new homes are approved and built. The ranking is led by Fuengirola, followed by Marbella, Malaga capital, and Estepona. According to the Malaga Architects Association, 217 new construction properties were approved in the third quarter of 2022 alone.
Other important and determining factors for setting the price in this location are tourism levels, foreign investment, and the purchasing power of buyers. These factors make their properties exclusive and focused on a very select and specific audience.
Regarding the property itself, the square meters, location or orientation, as well as the materials used, amenities, and private or common areas, are the most important elements to calculate the final price. As well as its proximity to the Costa del Sol, one of the most outstanding coastal areas in the country.
What is the situation of new construction developments in the Estepona real estate market?
Despite having only 76,000 inhabitants, Estepona has a very active and reference real estate market in the south of the peninsula and the Costa del Sol. Three new housing units are sold every day, a very high figure and similar to provincial capitals throughout Spain.
According to data collected by the Ministry of Transport, Mobility, and Urban Agenda, in 2019 the total transactions of this type of property in this municipality were 371, in 2020 976, in 2021 820, and in 2022 1045.
In this location, the economic and health crisis has been almost imperceptible, thanks to foreign investment, which is very important in the area. In fact, according to data from the same public entity, the price per square meter has not significantly decreased in the last decade; it has remained on the rise, as has demand. In 2019, it was 1,982 €/m², 2,349 €/m² in 2020, 2,493 €/m² in 2021, and 2,700 €/m² in 2022. This has made new properties the main real estate option in the municipality.
What is the importance of buying new construction apartments compared to second-hand homes in the city of Estepona?
The quality, location, views of the Costa del Sol, amenities, and pre-sales service offered by construction companies, especially for non-resident citizens in Spain. Buying a new property offers incomparable extras compared to second-hand properties.
In addition to these elements, the great difference between the two lies in the common areas and luxury finishes. In this municipality, it is possible to find villas with garages for 3 cars, private pools, or groups of houses with paddle tennis courts in the common areas. New residential developments are designed to offer all these services, amenities, and respond to the seasonal habits of customers. For second-hand properties to provide something that new properties offer as standard, they need a partial or total renovation.
Where to buy new properties in Estepona?
The village or the areas of Nueva Atalaya, Cancelada, and Bahía Dorada are the areas where the highest number of recently constructed properties are concentrated. Therefore, this is where the demand for this type of property in the municipality is located. The range of possibilities and costs is so extensive that there is a wide variety of options available, including villas, penthouses, ground floors, or semi-detached houses, ranging from 100,000 euros to over 1,000 euros.
Within the municipality of Estepona itself, new properties with a medium price range can be found both inland and in the areas facing the famous Costa del Sol. These include apartments in residential complexes with a pool, private security, and a gym, with one bedroom for 195,000 euros, two bedrooms on the beachfront for 297,000 euros, or duplexes with sea views and three bedrooms for 475,000 euros. Semi-detached houses are located in the interior and outskirts of the village, with a cost ranging from 300,000 euros to 525,000 euros.
The most exclusive, luxurious, and expensive properties are located between Bahía Dorada and Cancelada. In both districts, properties have an average price of over 600,000 euros. The sophisticated offer includes four-bedroom villas with 500 square meters for 1,300,000 euros with a private pool, garden, and garage, duplexes with sea views, three bedrooms, and 100 square meters for 765,000 euros, or three-bedroom semi-detached houses with 200 square meters for 530,000 euros.
In Nueva Atalaya, located inland, houses built in residential complexes focused on family vacations can be found. In this area, very close to golf courses, a semi-detached house with 140 square meters, three bedrooms, a communal pool, but with a private garage and storage room, can be purchased for 296,000 euros.