Blue-chip US property buyers head for Costa del Sol: Sharp rise in investors from across the pond in 2020

HOMEBUYERS from the USA have sharply increased in number on the Costa del Sol's 'Golden Mile' over 2020, as a result of 'the pandemic and being unhappy with Trump's government', according to estate agencies in the area.

In the past few months, the burgeoning North American market has risen from barely anecdotal to at least 15% of the total demand for high-end homes in the Málaga-province locations of Marbella, Benahavís and Estepona.

Customers cited former president Donald Trump's administration – whilst he was still in office – and the Covid-19 crisis, by which the USA was one of the worst-hit countries, as some of their main reasons for heading across the pond.

They included buyers of main residences and of property for investment, and were typically aged between 35 and 50, professionals, with young families.

Estate agencies and property developers and promoters say their US-based clients were seeking 'trustworthy investments, quality modern construction, and a sustainable lifestyle with good connections'.

In fact, the USA edition of Forbes magazine listed the provincial capital of Málaga as one of the 20 best European cities to live, work and invest in, citing 'excellent international education facilities' and 'some of the best facilities for remote or home working'.

Among the blue-chip properties which have gone to US buyers in the past few months is an off-plan villa in Benahavís with a top energy-efficiency rating, which is, according to agents, the type of building sought by customers from North America: 'Sustainable' and 'quality' in construction and 'based in natural, rural surroundings'.