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Home , Andalusia, Costa del Sol

10 Bricks & Mortar 1G P Friday October 23 2020 | the times 10 Bricks Friday October 23 2020 & Mortar the times

The picturesque Andalusian town of Gaucin is surrounded by mountains, cliffs and — and is the birthplace of the opera heroine Wish you lived in? , southern

Think idyllic country villas, not high-rises, says Emanuele Midolo

alaga may highest property prices in the region. In take some of the international demand geographically the historic centre of the city prices are that is out there,” Pérez-Peña Garrido sit in Britain’s €3,092 a square metre on average, with explains. “Developers are working to favourite riviera, high-end properties reaching €6,150 improve the quality of their projects to but just don’t a square metre, according to Savills. In become more attractive internationally.” call it the Costa the seaside district of Carretera de Cadiz Last year was a record for new-builds del Sol. prices can go to €11,350 a square metre. in the city. Cranes went up in the The city, which These, however, are still cheap when districts of -Teatinos, Mis the birthplace of , has compared with other Spanish cities, such Carretera de Cadiz, and experienced a fresh “cultural revolution” as or . A five-storey Rincon de la Victoria. According to over the past decade, is becoming more semi-detached property near the Savills, within these four districts alone popular with international home buyers. Mercado Central de Atarazanas market more than 4,000 units have been built “Malaga used to be a poor fourth to in Malaga city centre is for sale with the over the past 12 months. , Cordoba and , but over Spanish estate agency Lucas Fox. The Mark Harvey, a partner and the head the past 10 or 15 years that has changed 456 sq m property, which has four of the international department at the completely,” James Stewart says. He is bedrooms, four bathrooms and a private estate agency Knight Frank, agrees that the managing director of the Spanish lift, costs €1.9 million. if you want to attract international estate agency James Stewart, Savills’s “It’s crazy busy at the moment. buyers with “slightly more associate in , and has been We are receiving around sophisticated needs”, local working in the region since 1982. His 10 per cent more inquiries developers need to children were born in Malaga and went than last year,” says improve the quality of to school there. “It’s absolutely fantastic. José Felix Pérez-Peña the build. However, It has become a great city. It’s up there Garrido, the Cordoba where foreign buyers where it should be.” director of the can strike bargains Stewart explains that the Costa del Sol Malaga-Andalusia SPAIN is in the Granada became a mass tourist destination in the office at Savills Seville Andalusian late 1950s, with small towns and beach Aguirre Newman countryside. Top: a four-bedroom 8.6-acre estate. The seven-bedroom, resorts such as , who was born and ANDALUSIA Malaga Harvey explains villa with views of Lake seven-bathroom palacio, now run as and Benalmadena. “Those were the bred in the city. that is due to a key Viñuela is on sale for a luxury boutique , is for sale with fairly cheap mass- destinations He explains that Cadiz cultural difference. €399,500 with Lucas a £3.1 million price tag. with high-rise that started the prices went up by Sotogrande “It’s not in the Fox. Above: the village So is Malaga the answer to the Costa del Sol,” he says. about 25 per cent ’ nature to of Juzcar was painted overbuilt, overcrowded Costa del Sol? Marbella, which Stewart describes between 2018 and 2019, move to the country, blue for a Smurfs Rodolfo Núñez, a director of Lucas Fox as “an oasis with a jet-set element”, with the average price in 20 miles while the foreigners movie in 2011, and the Malaga, argues that you can’t really became popular in the 1960s and the city now standing at obviously love that,” he says, residents loved it so compare the two. “[The Costa] is one of 1970s. Estepona, a small town in the €368,515. Despite the virus, prices adding that the Spanish are “happy much they have kept it the most attractive tourist destinations Malaga province with 13 miles of are still going up about 2.5 per cent this to sell” these properties to them. “They that way in the world,” he says. “Malaga is a city beaches, followed suit in the 1980s and year, while in nearby cities such as Cadiz think they are crazy,” he adds, laughing. with abundant economic, social and 1990s. Malaga, on the other hand, was and Cordoba they have gone down by “ ‘You want my finca? Yeah, take it!’ ” cultural life all year long, not just during a late bloomer and only started to almost 5 per cent. This, Harvey argues, is because the summer. For the first time we’ve flourish in the mid-2000s under a new Most of the buyers are Spanish — at historically locals who elevated their seen a high number of homeowners city administration, which invested least for now. If international buyers social status moved out of the country living in Marbella moving to Malaga.” more than €100 million in culture and account for about 70 per cent of the into the cities. “They moved into He is echoed by Pérez-Peña Garrido, tourism. A new international airport, residential property market in the Costa town because there they have jobs, who calls Andalusia’s cultural capital Malaga-Costa del Sol, opened in 2011 del Sol (locals account for 30 per cent), opportunities, education. Why go back “a little joya escondida” — a hidden gem. and has quickly become Spain’s fourth the numbers are reversed in Malaga and to their fincas?” “I think people realise now that Malaga busiest airport. its countryside, with the Spanish still Knight Frank is offering a finca is a city that offers many things that the Now Malaga commands some of the having the ’s share. “Malaga needs to between Malaga and Seville with its own Costa del Sol doesn’t have.”