Torremolinos – a real estate perspective

I always feel a little bit sorry for Torremolinos, simply because it still suffers from a reputation is gained in the 70’s as a low budget and boisterous destination with a large contingent of British beer-drinking louts. Nothing could be further from the truth. Yes, this was the place where tourism on the Costa del Sol began in the 1950’s. The town developed from a sleepy fishing village (another one!) into a gigantic tourist center and attracted many celebrities from around the world such as Grace Kelly, Ava Gardener, Marlon Brando, Orson Wells and Frank Sinatra.

In 1959 the Art Deco styled Pez Espada hotel was opened (still in operation today), the first luxury hotel on the coast. By 1965, Torremolinos was already consolidated as a major tourist destination.  However, as tourism started to spread in a linear pattern along the coast and more competition for the tourism business increased, Torremolinos ventured down the package holiday route and thereby gained the poor reputation described above.  However, this disappeared a long time ago and now the town offers many attractions and services to its residents and tourists alike, such as a Crocodile park, botanical gardens and beautiful beaches.

Property prices in Torremolinos

Probably one of the least expensive areas on the west side of Malaga but prices are not necessarily significantly less than other areas.  Villas tend to be situated in residential areas away from the town center, so would require a car. Prices for older villas are between 500.000€ – 700.000€ and newer ones with views will sell for around 1M€ or more. Two bedroom apartments cost up to about 250.000€ but ones on the beachfront, or close to the beach with excellent views, can sell for easily double this amount. Unfortunately, in terms of investment, buying a property here will not give such a good return, simply because there is less demand for the area.