Malaga is positioned as one of the most attractive destinations for foreign residential tourists. Atalaya Emotion is one of the Alicante-based holding company's latest projects to be launched in the area, which has sparked a lot of interest among customers from all over the world
Malaga, 25 July, 2023– TM Real Estate Group, a leading Alicante-based company in the residential tourism industry, specialising in the construction and development of second homes along the Mediterranean coast and the Caribbean, continues to consolidate its position on the Costa del Sol with Atalaya Emotion, its latest project in the area, located in the heart of the Golden Triangle.
The province of Malaga plays a very important role in residential tourism in Spain. Aware of the high demand from international customers on the Costa del Sol, the company considers it a strategic location to strengthen its position as a leading company in this industry in Spain, as evidenced by an investment of more than 165 million euros since 2015.
According to the most recent studies, of the almost 90,000 property purchase transactions in 2022 by foreign customers, the Costa del Sol (Malaga) is positioned together with the Costa Blanca (Alicante) as international customers’ favourite destinations. So much so that in the last year there has been a notable increase for both locations (+68% in Alicante and +54% in Malaga).
Likewise, according to TM’s annual study of residential tourist profiles for Spain as a whole, Malaga is confirmed as one of the most attractive destinations for foreign residential tourists, with a significant increase in the number of clients from Eastern Europe and other countries such as Kuwait and Thailand. This increase is driven by the war in Ukraine and the rise in remote working, which has rejuvenated the profile of residential tourism to an average age of 51. Similarly, the average budget earmarked for house purchases has increased from €630,000 to €740,000, and 75% are buying their homes with their own funds without resorting to financing.
In this context, TM continues their commitment to the Costa del Sol and is well underway with their Atalaya Emotion residential project, a residential development located in the exclusive area of Atalaya, very close to all the services and leisure facilities of Puerto Banús and Marbella. The houses are currently under construction and are scheduled to be delivered by the end of this year. So far, 66% of the development has already been sold.
Residential Atalaya Emotion.
The development includes different types of properties. The ground floor 2- and 3-bedroom apartments with come with a private garden, while the first floor apartments have large terraces, and the duplex penthouses have a solarium.
Customers who have purchased a home in this development come from a wide range of countries: Belgium, Czechia, Denmark, France, Germany, Kuwait, Morocco, the Netherlands, Norway, Poland, Russia, Spain, Sweden, Ukraine, and the United Kingdom.
With this project, TM continues to strengthen its position as a leading development group on the Costa del Sol, where it already has other projects such as the three phases of Los Miradores del Sol in Estepona, Golden Green in Nueva Andalucía, Benalmádena Higueron Bay Residence and Dream Gardens, Marbella Senses and Puerto Banús Bay Residences, in Marbella.
