A diverse, multi-cultural, cosmopolitan yet traditional Spanish Coastal Town.
Of Estepona’s population of 70,000+ inhabitants, 22,000+ are foreigners of 120 different nationalities. According to livingcost.org, the average cost of living per person in Estepona is €976 – 25% less than Madrid, 30% less than Rome, 49% less than Paris and a whopping 61% less than London. It is even 25% cheaper than its more expensive neighbour Marbella.
Interesting fact: there are 320,200 Spaniards living and working in the UK (2023) and only a slightly lower number of British living in Spain.
Retirement in Estepona.
With notably low taxes on working and retirement income, Estepona is one of the more tax-friendly areas for older workers and retirement. Home prices vary from 150K -16M++
Estepona does not tax Social Security retirement benefits, and the property taxes are relatively low. There are also many 55+ communities to be involved with, along with excellent hospitals and healthcare clinics located around the Province.
Rental Homes.
Prices vary enormously. The average is around 1,100/mo for 2 bedroom properties, but you can find places for less than 800/mo, and then up to… the sky´s the limit! We know of several that list for more than 5,000/mo! However a 3 bedroom family home should average from 1,200/mo to 2,200, depending on location.
City living and average Rentals.
Home prices for City living is more expensive. In the Centre for example the average Studio Apartment is around 1,100/mo, and a 3 bedroom Apartment 2,200. But if you are willing to share and have “roomies”, you could expect to pay between 500-800 each, possibly less. If you are able to commute and live on the outskirts, or in the countryside the prices are considerably lower. A good quality 3 bedroom can be found for around 800-1400.
Home Build – a great option at this time.
Land is today cheaper, with significant reductions in price last year. One of the reasons is the foreclosure process here. There have been many failed developers in recent years, and these properties are being released to the public by the Banks, with the encouragement of the Government. If you are considering your own home build rather than looking at homes for sale, buying land and living in Estepona is a very good move at this time.