Property prices in Estepona

The charming town centre has many picturesque plazas and streets that all follow an attractive colour scheme and are mainly pedestrianised. The glamorous Puerto Banús is a mere 30-minute drive away and those visiting the area on business will find the modern Estepona exhibition and congress centre on the eastern side of the town.

Estepona has a hot dry climate with an average temperature of just over 18ºC and an impressive 330 days of sunshine a year.

Playa del Cristo and Playa de la Rada are the two beaches closest to the town with the former being slightly smaller and the latter offering nearly 3 kilometres of shoreline and a very attractive seafront promenade with bars, restaurants, play areas and lifeguards. All beaches in Estepona are kept spotlessly clean and offer all the necessary services and amenities for a comfortable day by the sea.

There is an excellent selection of restaurants on the cobbled streets of Estepona old town, serving authentic local cuisine and the port area is ideal if you fancy enjoying some locally caught seafood whilst taking in views of the Mediterranean. International visitors are well catered for too with Estepona offering everything from Chinese to fish and chip restaurants.

Unlike other areas of the Costa del Sol, Estepona is not a nightlife hotspot but it does have a great selection of vibrant bars and restaurants and is perfect for those seeking a more low-key and high-end leisure scene.

Other than enjoying the beach and a spot of fine dining, Estepona also has some interesting cultural landmarks including the 15th Century San Luis Castle, the town Clock Tower, the Los Remedios Church and the old bullring.

Cultural celebrations and events also take place all year round, with the most spectacular taking place in the warmer months, starting with the San Isidro Labrador celebrations in May, followed by the San Juan summer solstice party, the annual Fiesta Mayor in July and culminating with the Virgen del Carmen and Virgen de los Remedios religious celebrations in July and August. These public festivities are an ideal way to mingle with the locals and get a feel for authentic local traditions.

In most Spanish cities, property prices are still below their peak of 2008. However this is not the case for Estepona! Indeed, real estate prices in Estepona have now reached €2,200 per square metre which is 10% higher than it was in 2008.

House prices in Estepona are at a record-high €2,200 per square metre
image source: Idealista

Year-on-year average property prices Estepona have increased by 7.6%, ending 2019 on €2,200 per square metre and have surpassed the prices in 2007 by 12.1%, when they averaged €1,963 per square metre. Compared to 2014, when they averaged €1,477 per square metre, prices have risen by 50%, giving a Compound Annual Growth Rate (CAGR) of 8.3% since then.

At the end of 2019 average rental prices in Estepona showed an annual increase of 5.6%, rising from €8.9 per square metre to €9.4 per square metre, and they are almost 60% higher than they were in 2014, when they averaged €5.9 per square metre.

The number of sales transactions in Estepona in the third quarter of 2019 (685 sales) showed an increase of 10% when compared to the number of sales in the third quarter of 2018 (623 sales) and an increase of almost 22% when compared to the number of sales in the third quarter of 2014 (563 sales).

Willing to buy or sell a home in Estepona? Contact our property advisors.

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