AS of mid-2024, Mazarrón has overtaken Gandía as the most profitable coastal area for property investments in Spain. According to Fotocasa’s ‘Profitability in Coastal Towns in Summer 2024,’ the average return on coastal properties is 6.5 per cent.
Coastal Property Returns: Mazarrón Tops the List
Mazarrón, located in Murcia, now leads with an impressive return of 11.4 per cent, surpassing Gandía’s 10.8 per cent. Gandía, which had been at the top for the past three years, is now in second place. The report notes that only these two towns offer returns exceeding 10 per cent this year, whereas five towns surpassed this threshold in 2023.
Fotocasa Report Highlights Mazarrón’s Investment Appeal
Other notable coastal areas with high returns include Laredo and Águilas, both at 9.6 per cent. Conversely, San Sebastián and Calpe have the lowest returns, at 3.7 per cent. Maria Matos from Fotocasa highlights that while coastal property returns are generally strong, Valencia’s coast has notably outperformed Andalucía this year and Murcia continues to rise.
A Boost for Mazarrón’s Economy
This significant increase in property returns is a promising sign for Mazarrón’s local economy. Higher investment returns attract more investors and tourists, which can lead to improvements in infrastructure, an increase in local businesses, and greater employment opportunities. As Mazarrón garners more attention and investment, it is poised for further economic growth and development, enhancing its reputation as a prime coastal destination in Spain.
Impact on Local Homebuyers and Housing Affordability
However, this increase in property investment also has implications for local residents looking to buy homes. As demand from investors increases, property prices are likely to rise, making it more challenging for locals to afford housing. This could lead to a greater need for affordable housing solutions and may prompt local authorities to implement measures to ensure that the local population can still access the property market.
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