Buying & selling in the 2018 Spanish Property Market
Peter Bowerman’s 25 years experience in real estate and investment are the backbone of his successful Costa del Sol, master real estate company “Overseas Dreams”. He gives us the latest hot property news on the Costa del Sol.
The Costa del Sol is still Europe’s favourite destination and as the name would suggest, Costa del Sol (Sun Coast) has around 320 days of sunshine a year and an average temperature of 20°C. Having one of the best microclimates on the planet means beautiful long summer evenings spent socialising or relaxing outside, lazy days on one of the numerous sandy beaches and golfing on some of the best golf courses in the world. The Costa del Sol offers an incredible lifestyle, with beautiful Marinas, chic designer shops, traditional Spanish Tapa’s bars serving fine Spanish wines and glamorous seafront restaurants with their Michelin star Chefs. Living well in Spain is still very affordable, with food and drink prices below the E.U. average.
Spanish market reports show that property prices have continued a steady growth over the last four years, with evidence that it is likely to continue at a sensible and sustainable rate. Helped by significant International demand, affordable house prices, a rise in investment from a variety of financial institutions and a flourishing Construction Industry. Last year, Spain was also reported as being one of the best countries for the cleanest and safest beaches in the world by the Association for Environmental Education and the Consumer (ADEAC). It would seem that beautiful “Blue Flag” beaches, a quality lifestyle, dining al fresco and low property prices are all very alluring to the British buyers, who regardless of Brexit, remain the largest group of foreign buyers, followed by the French, Belgians and Scandinavians, all jostling for position behind them.
THINKING ABOUT BUYING?
The last remaining distressed sale deals and repossession properties we have for sale along the Costa del Sol are being hoovered up quickly, but buyers can still find some great deals amongst our many resale properties with some vendors looking to sell quickly due to change of circumstances. Off-plan and new build properties are in very high demand again as they offer buyers some great off-plan discounts. In Andalucia, Property Developers are meeting the rise in demand for luxury new-build properties and the construction of new developments and modern villas is evident along the coast.
However, that’s not to say the Spanish property market is flying in all areas. Properties in less popular or marginal locations are still slow to sell for good reason. So for the best quality of life and long term investment, stick to high demand areas like the “Costa del Sol” with its fabulous infrastructure and best climate in Europe. Especially target areas between Malaga and Estepona such as the popular; La Cala de Mijas, Benalmadena, Marbella, Nueva Andalucia and Benahavis, but be warned, trying to negotiate on price in these hot spots is getting more difficult.
You really need to see a number of properties before buying, so you can get a real feel for what’s available in the different locations. It’s amazing how many clients are focused on wanting to be in a certain area, yet end up changing their mind halfway through their search process and buying in another area entirely. So choose a Real Estate Agency, that covers the whole coast, so you can use their expertise and experience to recommend suitable areas and properties to view. If viewing with us, I would recommend you let us show you a number of areas you had not even considered before, to get a better idea of the value and size of property that are available in different locations.
A Master Agent like ourselves can offer clients just about every property for sale on the coast between Malaga to Gibraltar, and you only need to deal with one of our friendly staff to see everything, no need to contact lots of different Agents and try to juggle individual viewing appointments all along the coast. Allowing us to show you everything available, not only makes life a lot easier for you but having just one Agent viewing everything with you, helps us understand exactly what you are looking for and gives you the best chance of finding your ideal property.
There are no shortcuts, websites provide good information but rarely portray the reality of the property or area. Many will disappoint, with some new developments displaying example photos of million euro penthouses, stating prices in the development start from just 300,000, but obviously with a 300k budget, the photos are not going to reflect in any way what you will actually be viewing. Also, in some cases photos simply can’t portray the true beauty, size or surroundings of a property, so you really do need to spend a little time explaining exactly what you are looking for so we can guide you into the right properties to view. After we search through thousands of properties looking for the most suitable to your requirements and with our extensive knowledge of the coast and properties, we should be able to find your ideal property in under 10 viewings as long as your budget is realistic to your requirements.
THINKING ABOUT SELLING?
If you are thinking about selling, now is a great time, with all the renewed interest in the Costa del Sol and September & October historically being our strongest selling months. Again, using a Master Agent like ourselves offers some major benefits, as we not only market your property throughout Europe and continually advertise your property on the best Spanish property portals and Costa del Sol property magazines, but we also market your property through just about every Estate Agent on the Costa del Sol, via our 4 interagency property networks. This means you simply list your property with just us, deal with one of our team who will accompany every viewing, yet every Agent on the coast will be able to offer your property to their clients and we simply share our commission with them. No more worries about giving out lots of keys or dealing with lots of different Agents. Our Valuers are very busy every day taking on new properties, so contact us now for a free valuation and the best marketing packages on the coast. We are waiting to show you what makes us stand out from all the other Agents and look forward to getting you moving.
Peter is a frequent contributor to the UK / Spanish press and was one of the panel of experts for Overseas Property Professional magazine, having spent most of his working life as a professional Real Estate Agent and Valuer. He is also the Managing Director of one of the coast’s top Master Real Estate Agencies “Overseas Dreams” with registered offices in both Marbella and La Cala de Mijas.
For more information on buying or selling property on the Costa del Sol, contact Peter or any of his team on Tel: (0034) 951 551 444 or email: info@OverseasDreams.com
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