Sean Woolley, Justin Mowle and Jackie Waters from Cloud Nine Spain sat down recently to discuss the merits of Estepona and to choose which was their favourite area now to purchase property –Estepona or Marbella.
Justin Mowle, Director of Cloud Nine Spain:
“I love Estepona. It’s half the size of Marbella, and pretty much half the price. There’s more space, less traffic, a beautiful old town, lovely marina and you’ve got some great beachfront and hillside properties, so for me, massive tick in the box for Estepona over Marbella.”
Jackie Waters, Director of Cloud Nine Spain lives in Estepona:
“Estepona, in my opinion is one of the nicest areas out here. I’ve lived here for 15 years and it’s got everything. You have the Old Town where you can go into the restaurants, the tapas bars, and find excellent value for money. You can grab a cheeky meal and glass of wine for about 10 euros. And you’ve got the fantastic Paseo, where you can walk along the side of the beach for miles, taking in the spectacular views.
“It’s just a great way of life. You can be as Spanish as you want to and it’s friendly. It’s basically, in my opinion, a beautiful, beautiful area.
“I love Marbella, but for good value for money, both property wise and living costs, Estepona in my opinion is the perfect place to be.”
Marbella resident Sean Woolley:
“The beaches are white and sandy, the promenade is immaculate, there’s loads of restaurants, loads of bars and lots of things going on. On my last visit I noticed it was a little less blingy than Marbella, a little bit more authentic, but very cosmopolitan with a lot of Spanish too.
“In terms of similarities to Marbella, you’ve got a beautiful old town, but Estepona feels more manageable and there’s more space and less hustle and bustle. Estepona has a lot going for it, so it’s not surprising that we’ve been selling a lot more properties there in the last five or six years than we ever did previously. Estepona is an easy sell, especially when you look at the prices compared to Marbella.
“I’m looking to buy an investment property in Estepona, and a 2-bed is between 200,000 euros and 300,000 euros, whereas in a new build development in Marbella a similar 2-bed property would be 700K.
“So that’s a big difference!”
So there you have it … a unanimous vote for Estepona. The team feel that the property market is strong in Estepona and that although prices have increased in recent years, there’s a lot more to go. The new developments which are currently being built potentially offer an excellent return and there’s a lot of interest in buy-to-let properties for investment purposes.
“I think in time, we’re going to see the high demand and dwindling supply, push those prices quite a bit higher,” Jackie Waters said. The three experts believe that the market still offers excellent value for money and is on the up. Sean agrees, saying, “It’s got a lot of legs to move.”
So the message is, that Estepona is definitely hot right now and has a lot to offer whether you want to buy a holiday home, or live there full time. “But if you want Estepona, you need to be quick to get in there, while it still offers good value for money,” Sean said.
Read more from Cloud Nine here about real estate on the Costa del Mar.
Read more about Spain here in Dispatches’ archives.
Sean Woolley is the founder and director of Cloud Nine Spain. With 20 years’ experience of helping clients buy and sell properties in Spain, he’s known as “The Property Doctor” and has contributed to a host of publications. He has recently written the book “From the Ground Up – The Insider’s Guide to Buying Spanish Property,” sharing his years of experience, real life stories, tips and tricks with buyers interested in investing in Spanish Real Estate.