Residences Istán: Going off the beaten track … to Istán
Foreigners’ appetite for property in Spain shot back up in 2022, hitting 13.75% of all home purchases in the country, according to the Colegio Registradores. The figure marks an increase of 2.95% over 2021 and breaks a five-year trend of foreigners making up a falling share in Spanish property purchases.
Leading the field when it comes to foreign buyers are Britons, who accounted for 11.07% of property sales to foreigners in 2022. They are followed by German, French and Belgian buyers. Overall, British buyers accounted for 1.52% of all property purchases in Spain during the year.
In terms of property types, British buyers are seeking a wide range of properties. Sales and Marketing Director at Taylor Wimpey España, comments:
“There is elevated appetite from British buyers for a wide range of properties in Spain of late. Beachfront and frontline golf properties remain perennially popular, of course, but we’re also seeing strong demand for everything from urban residences with everything on their doorstep to homes that are off the beaten track.”
Almazara Boutique Residences exemplify the kind of homes that those looking for something tucked away are seeking. Nestled in the midst of 100-year-old olive groves and fruit trees, on the site of a dilapidated farmhouse and old oil press – the “almazara” that gives the development its name – the homes overlook the reservoir at La Concepción. With motorboats and jet skis not allowed on the water, the reservoir is a stunningly serene location, popular with walkers, picnickers and those hoping for a glimpse of Marbella’s extremely rare otters.
Nearby, the centuries-old village of Istán nestles at the head of the Rio Verde valley, one of the access points to the beautiful Sierra de las Nieves natural park. The narrow streets of the Moorish village were designed for mules and packhorses, meaning that motorists need to leave their vehicles behind and explore on foot. Istán is home to an impressive 15th century Arab tower surrounded by gardens, the 16th century Church of San Miguel and a charming old wash house surrounded by traditional houses covered with climbing roses and bougainvillaea. Just outside the village, visitors stop to catch pure, crystal clear mountain spring water as it cascades down the rocks.
Enjoying panoramic views of Marbella Bay and Gibraltar, the homes at Almazara Boutique Residences, in Istán, feature a sympathetic rustic appearance that feels at one with the natural surroundings. Within the development, the properties are split between apartments at Almazara Hills (priced from €345,000 plus VAT) and townhouses at Almazara Views (costing from €540,000 plus VAT). This mix of property types is again well suited to current buyer demand, as Taylor Wimpey España’s Marc Pritchard explains:
“There’s a lot of variety in terms of property type when it comes to buyer demand. We have a lot of buyers wanting apartments and plenty seeking houses, particularly with space they can use flexibly to mix up leisure time with some periods of working from home. Spain is meeting a wide range of foreign buyers’ needs right now.”