The Spanish city of Málaga and the Costa del Sol area are seeing a sharp increase in the number of people moving from other European countries. This is largely responsible for the change in lifestyle by young people who are choosing to live as digital nomads.
Andalusia and Costa del Sol increasingly popular
The data, presented by the Notaries’ Statistical Information Centre, shows a growing interest in buying property in Andalusia. Comparing the results of sales in the first quarter of 2022 alone, the region saw an increase of as much as 62% in concluded contracts for the purchase and sale of houses and flats by non-resident citizens. In the following months, we have seen further growth in the local property market.
We are still waiting for the final summary for Q4 and the whole of 2022, but there are many indications that it was a record year for the property market in Spain, and certainly in Andalusia and the Costa del Sol. Malaga city council, meanwhile, reported that the platform launched in February 2021 to help so-called digital nomads adapt to a new place – www.malagaworkbay.com – had been visited by more than 160,000 users by the end of 2022.
Why so much interest in the region? The reasons can be traced back to two events we have experienced over the last few years. The first was undoubtedly the COVID-19 pandemic. Millions of employees were forced to work from home during the restrictions designed to contain the spread of the virus. As a result, many companies were forced to introduce remote working. As a result, employees discovered the huge benefits of working from home, which from now on could be almost anywhere in Europe and the world.
The second event was the outbreak of war as a result of Russia’s aggression against Ukraine. This contributed to a significant increase in interest in property on the Costa del Sol from residents of Central and Eastern Europe, with an emphasis on Polish and Ukrainian nationals. It was these two nations that increased their share of the Spanish property market the most in Q3 2022, relative to data recorded by the Registradores de España a year earlier.
Malaga attracts workers
One of the magnets that attracts digital nomads (see guide to obtaining a digital nomad visa) to Andalusia and the Costa del Sol is the technology hub, located in one of the region’s largest cities. Malaga TechPark is a space that brings together startups, entrepreneurs and innovators from different industries, with the aim of creating an enabling environment for entrepreneurship and innovation, which in turn is expected to contribute to economic development and job creation in the region.
Malaga TechPark offers a wide range of services for entrepreneurs, including: access to funding, mentoring, training, networking, infrastructure and resources, as well as access to global markets and clients. The hub also has a coworking space where entrepreneurs can work and meet with colleagues. The Hub is also committed to promoting innovation and entrepreneurship in the region by organising events and educational programmes for young people and future employees. You can find out more about Spain’s Silicon Valley here.
If we combine the opportunities for growth that Málaga offers with the easy and quick access to the sea and the forms of recreation that the Costa del Sol provides, it is easy to conclude that it is now one of the best places to live and work in Europe – and not just for digital nomads.
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