Europe's premier sports resorts have recently marked significant anniversaries, with Sotogrande in southern Spain reaching the impressive milestone of 60 years. Despite the challenges of Brexit, a global pandemic, and increasing living expenses, British buyers continue to migrate to these sought-after destinations.
Dubbed as "retreat markets", these destinations have become the ideal choice for affluent buyers looking to turn their dreams into reality by investing in second homes for extended stays in this era of flexible working. In 2023, prime second-home residential resort markets saw an average increase of seven per cent.
The evolution of Sotogrande, located near Gibraltar, has been ongoing with a staggering €150 million invested in its reinvention over the past decade, and there's more to come. Encompassing 20km² – nearly 10 times the size of Monaco – Sotogrande goes beyond being just a 'resort'. Tranquil roads wind through forests, lakes, golf courses, and various developments that have evolved over the years. The appeal of golf is undeniable, with renowned courses like Valderrama, Sotogrande, La Reserva Club, and Almenara Golf, all contributing to the area's allure. In addition to golf, Sotogrande is a prominent destination on the professional polo circuit.
Furthermore, the exclusive La Reserva Beach Club now offers owners and guests a sanctuary to enjoy, complete with a large sandy-bottomed lagoon pool, a water sports lake, and a Racquet Centre featuring tournament-level clay courts and glass-walled padel courts. This addition brings a new dimension of leisure to a resort known for its golf and polo offerings.
Sotogrande’s property offerings range from off-plan apartments with large terraces at Village Verde in La Reserva from €830,000, all the way up to a 4,200m², a one-off masterpiece that will only be built when a buyer commits to the €22.5m asking price. This price has never been seen before at Sotogrande, even outstripping the one-off villas at The Seven, each designed by different world-famous architects, and costing from €14m.
According to Sotogrande's sales director, Rita Jordao, approximately a quarter of property buyers in Sotogrande come from the UK.“What has increased is the number of families who decide to make this their primary residence and register their children at the Sotogrande International School. They now account for 45 per cent of buyers, up from 30 per cent two years ago”. She also mentions that the prices of new phases have seen a significant increase of 50 per cent during this period. “Sotogrande is a mature destination – it has spent 60 years honing its reputation as one of the most exclusive destinations in Europe. It was designed to create a private, safe and healthy destination surrounded by nature where you can disconnect, or always be active, as you choose.”.
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Photo credit: La Reserva