RENT prices in Estepona have almost doubled in the past six years, new figures have shown.
According to property portal Idealista, a flat in the costa town will now cost at least €9.50 per square metre – or €650 per 70m2.
The figures, taken from January of this year, is the highest ever reached for the town and is a 9% increase on the year before.
The figure is still below Marbella (€10.60) and Malaga city (€10.80), but is the sixth consecutive year of growth since 2014.
That year saw 70sqm cost around €378, almost half the price of this year.
According to the report, the Estepona Pueblo area has seen the biggest increase of 11.3% in just one year.
Benamara-Atalaya had the second-highest increase of 9.6% year-on-year.
House prices in Estepona are also rising, with the per square metre price sitting at €2,208 in January, a 7.6% year-on-year increase.
Prices on Playa Dorada Beach soared by 18.8% year-on-year and by 12.4% in Estepona Pueblo.
While it’s good news for property owners, locals on social media have claimed they are at risk of being priced out of the neighbourhood.
“In the end people will go from Estepona to the surrounding villages,” one wrote, “It is incredible that a flat in poor condition is more than €600, I have also seen studios for €700… it’s better to get a mortgage then at least the house is yours!”
Another said they had ‘thrown in the towel’ and decided to look elsewhere.
One other admitted: “I went to Manilva instead and found a place for €500 with padel courts and swimming pool, I will be staying here.”