Optimistic Outlook for 2024 Despite Geopolitical Uncertainty and Rising Interest Rates
Marc Pritchard, the sales and marketing director of Taylor Wimpey Spain, has expressed a positive outlook for the sector in 2024. This is despite the prevailing geopolitical uncertainty and rising interest rates. Pritchard maintains that Spain, and particularly the Costa del Sol, remains an attractive destination in various sectors including tourism, quality real estate, events and trade fairs, gastronomy, and as an ideal location for teleworking.
Seven New Projects Announced for Costa del Sol
During a presentation, Pritchard announced seven new projects planned for the Costa del Sol this year. The company also plans to deliver 1,000 homes throughout Spain by 2025. Among these projects is Almazara Forest, located between Istan and Marbella. This project is part of a larger plan that includes Almazara Hills and Almazara Views, with a total investment of 30 million euros.
British Developer Adapts to Changing Tourism Trends
Taylor Wimpey, one of the longest operating British developers on the Malaga coast, has adapted its commercial strategy to accommodate the notable reduction in the seasonal nature of tourism on the Costa del Sol. According to the latest CIS survey on hotel occupancy in March, which reported 221,000 overnight stays and a 68 percent occupancy rate, Taylor Wimpey anticipates a significant increase in foreign buyers, many of whom are digital nomads.
Almazara Forest: A Blend of Modern and Rustic Aesthetics
Almazara Forest, located between Istan and Marbella, will feature 24 two- and three-bedroom apartments. These apartments are designed with an ‘open plan’ concept, but with a rustic aesthetic that aims to blend with the surroundings. Situated in the heart of the Sierra de las Nieves, at the foot of La Concha mountain and just a few minutes from Nueva Andalucía, the buildings will have an energy certificate A and feature large landscaped terraces, a community swimming pool, gardens with native plants, garage and storage room. The flats are expected to be ready by February 2026, with prices starting from 360,000 euros, excluding IVA (Spain’s sales tax).
