Property values climb in Sotogrande

LAST UPDATED: 13 May, 2015 @ 18:01
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Property values climb in Sotogrande

THE laid-back Sotogrande lifestyle is still a great attraction for expats and those looking for second homes, according to local agents.

Although the property market is still some years off what it was before ‘la crisis’, sales in the area are steadily moving in an upward direction, However, it appears that Sotogrande’s near-perfect climate, highly-regarded international school and wealth of sporting activities will always be a big draw for families looking to relocate.

“It’s a relaxed and easy life here, and it’s still relatively unknown, maybe that is also the charm of the place,” said Monique Westdorp of Blue Sky .

“I have been so busy since spring and it feels like the market is really picking up,” added the Dutch expat, who has lived in Spain for 13 years.

In recent years, Sotogrande has become a melting pot of cultures too, with buyers jetting in from as far as away as Dubai and Australia. The Madrilenos also come in their droves.

“I recently had a client from Russia who was looking to spend €2.5 million on a property,” said Westdorp, who has been running her online business for over three years.

Although prices are as low as they are likely to get, it’s still a buyer’s market even in this exclusive enclave. Most sales are in the €6-700,000 price range and studio flats can still be found from as little as €100,000.

Andy Griffin, of rental firm Sotogrande Exclusive, has been in the area for 30 years and firmly believes prices are on the rise.

“The market is at about 60% of what it was but it’s definitely picking up,” he said.

“People are paying ridiculously low prices at the moment, who knows what it is going to be like in a few years’ time!”

Some of the most luxurious real estate can be found at BM Sotogrande in Pueblo Nuevo, where the most expensive homes are currently for sale at above €5 million.

As the ‘original top-of-the-market property developers’ in the area, founder Bradley Falconer and team are also the font of all knowledge on design and construction.

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