Property Supplement Costa del Sol 25 – 31 January 2024 Issue 2012

P RO PE R TY THE S PE C IA L

On The Coast | Investing In Property Investing in property on the Costa del Sol, Spain, offers a lucrative opportunity due to its stunning Mediterranean climate, picturesque landscapes, and thriving tourism industry. The region’s popularity among international visitors ensures a steady demand for rental properties, providing a potential source of passive income. The Costa del Sol boasts a diverse real estate market, ranging from beachfront villas and golf course properties to charming apartments in historic towns.

Recent infrastructure developments, such as improved transportation and amenities, enhance the area’s overall appeal. Additionally, Spain’s Golden Visa programme, offering residency to property investors, further attracts foreign buyers.

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PROPERTY THE SPECIAL On The Coast | Investing In Property

While property values have historically shown appreciation, it’s essential to conduct thorough market research and seek professional advice to make informed investment decisions. With the potential for both rental income and capital appreciation, investing in property on the Costa del Sol presents an enticing prospect for those seeking a blend of lifestyle and financial returns.

A recently published report from a leading Real Estate consultancy group found that prices for Costa del Sol real estate went up 7.6 per cent during 2023 to an average of €1,977 per square metre. In quarterly terms, the increase was 1.2 per cent. After Madrid and Barcelona, the Costa del Sol has seen the highest increases in value.

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PROPERTY THE SPECIAL On The Coast | Investing In Property Real Estate Market on the Costa del Sol Analysis of the Andalucian property market shows that the rate of increase in house prices is beginning to stabilise. The average value of both new and used residential property saw a growth of 5.3 per cent in the fourth quarter of 2023, according to the report on local markets prepared by the appraisal company Tinsa. Despite the stability of prices in 2023, in line with the previous year, sales volume at the national level experienced a decrease of 8 per cent.

The luxury sector, largely dependent on the foreign market, has been a key player, contributing towards total sales in Spain to an impressive amount of €17,500 million.

In terms of financing, 47 per cent of transactions are made with savings, while 53 per cent opt for mortgages, revealing a diversity in purchase strategies in the current financial market. It should be noted that, although the luxury market has a big impact on the total sales volume, only 15 per cent of real estate transactions on the Costa del Sol exceeded €1 million in 2023, while 35 per cent were for homes below €500,000.

In terms of reasons for purchase, 56 per cent are first residences and 44 per cent are intended as second homes. The nationalities leading real estate transactions continue to be those of the UK, France, Germany, Belgium, the Netherlands and Sweden. On the regional level, Andalucia is still at the top of the list for buyers from the United Kingdom representing 16 per cent of the total.

Choosing your new home on the Costa del Sol There are many things to consider when choosing a new home, wherever it is. However, buying a property on the famous ‘sunshine coast’ has its own unique set of specifics.

Firstly, will this property be your new primary residence? If yes, it is important to consider how your everyday life will fit into the move. Families with small children should look at schools in the area, and practical needs should also be contemplated, for example, nearby hospitals, shops and any other unique, personal necessities. Many people choose to stay temporarily in the area they wish to buy in to experience what everyday life there looks like. Remember that some places on the Costa del Sol are much quieter during the winter season.

If it is to be a holiday home, or to rent out to others, make sure to research other similar properties in the area and their rates so you can gauge the earnings you expect to reap.

The coast consists of many different residential areas, all of which have their unique benefits. It is wise to consider whether or not you wish to be located somewhere that is busy and popular with tourists, or if you prefer a place a little ‘off the beaten track’. There are many towns and urbanisations that still consist of mainly Spanish residents, whilst others are far more international.

The valuation company Gesvalt has reported that Marbella is the most expensive place in the Costa del Sol to buy property, with an average valuation price of €3,343 per square metre. It ranks as the second most expensive city in Spain with over 50,000 inhabitants.

SVENSK HEMSERVICE PROPERTY Skensk Hemservice are a company, located in Fuengirola, that cares about each and every one of their clients.

They offer a high level of personal engagement and a value for all customers, whether their requests be small or large. They cater for many nationalities and are accustomed to helping people from all over the world find, and love, their new life in Spain. Svensk Hemservice are fluent in Swedish, English and Spanish.

However, this Swedish home assistance company can actually do much more than just help you manage the tasks of daily life and to perfect the household, they can also start by finding you your perfect home, right here on the sunny coast of Spain.

Johan is the co-owner of the company and an experienced property expert who manages all of the Svensk Hemservice real estate proceedings. He has recently created his own unique application that can be downloaded onto your smartphone which has been designed especially for buyers and renters that are interested in the Costa del Sol area. He has many years of practical experience in the real estate industry and is committed to finding the perfect fit for each and every one of his clients.

Svensk Hemservice will assist you throughout the entire process of buying your new home, from finding a property that suits your unique needs, to purchasing, and complete management of local taxes, not forgetting of course the best part, moving in! They provide their clients with the essential local contacts regarding lawyers and banks with whom they have extremely good relations and experiences. Svensk Hemservice will ensure that you get settled in your new home in the sun as quickly and smoothly as possible. They take care of all the hard work and hassle, so that you can focus on the important thing: enjoying your new dream life in Spain.

They can also help you to find properties to be rented for a short or longer periods, in order to try out living everyday life on the beautiful Costa del Sol before deciding to buy a property here, and moving out permanently.

Svensk Hemservice have a wide network of contacts and properties on the coast, alongside a deep and thorough understanding of the current real estate figures and trends in the area. Their committed staff possess the language and personal skills needed to ensure you get the best possible deal on your new home.

To take the first step to a new adventure on the Costa del Sol, or for any more information on the services Svensk Hemservice can offer, contact Johan on +34 622 66 42 37 and have a chat today about how he can assist you in any of your real estate needs. Alternatively, email Johan at johan@svenskhemservice.com

SVENSK HEMSERVICE PROPERTY FINDER Skensk Hemservice are a company that cares about each and every one of their clients, with a high level of personal engagement and a value for all customers, whether their requests be small or large. They cater for many nationalities and are accustomed with helping people from all over the world find, and love, their new life in Spain. Svensk Hemservice are fluent in Swedish, English and Spanish.

However, this Swedish home assistance company can actually do much more than just help you manage the tasks of daily life and to perfect the household, they can also start by finding you your perfect home, right here on the sunny coast of Spain.

Johan is owner and property expert that manages all of the company’s real estate proceedings. He has created his own unique application that can be downloaded on to your smartphone which has been designed especially for buyers and renters that are interested in the Costa del Sol area. He has many years experience in real estate and is committed to finding the perfect fit for each one of his clients.

Skensk Hemservice will assist you throughout the entire process, from finding a property to purchasing,

management of local taxes, and of course moving in. They provide the essential local contacts regarding lawyers and banks with whom they have extremely good relations and experiences.

Svensk Hemservice will ensure that you get settled in your new home in the sun as quickly and smoothly as possible. They take care of all the hard work and hassle, so you can focus on the important thing: enjoying your new dream life.

They can also help you to find properties to be rented for a short or longer periods, in order to try out living everyday life on the beautiful Costa del Sol before deciding to buy a property here, and moving out permanently.

Skensk Hemservice have a wide network of contacts and properties on the coast, alongside a deep and thorough understanding of the current real estate trends in the area. Their committed staff possess the language and personal skills to ensure you get the best possible deal on your new home.

Johan (+34) 622 664 237 johan@svenskhemservice.com www.svenskhemservice.com

THE BENEFITS OF HAVING A SECOND HOME IN THE SUN A beautiful break in the Spanish sunshine, something that many people spend months looking forward to, as they work and save for a summer holiday.

However, what if that sun filled getaway didn’t have to be limited to just the summer, or even limited at all. At the same time, imagine a holiday without the cost of accommodation. These factors and many more are why people from all over the world continue to purchase holiday homes on the Costa del Sol. Euro Weekly News sat down with one such person, Susan Millington from the UK who has owned her dream home in the sun in Estepona for just over a year.

We asked Susan what gave her the idea to buy on the sunshine coast. “Well me and the family have always loved it here, especially Estepona, and we were coming about twice a year,” she explained. “We always joked that we’d love to come out every month if we could, and then finally last year I decided to take the leap, and here we are!”

What a leap! Susan then told EWN that: “It’s changed my life. I come out very often, even if it’s just cheap last minute flights and a couple of nights!” When asked what the best part of owning her home here is, she stated: “well I can speak a lot more Spanish now, mucho mas!, and I feel I have a second home, an extra life, rather than it being just a break from life.”

PROPERTY PRICES IN MALAGA WILL CONTINUE TO RISE IN 2024

Solvia anticipates changes in property sales in Spain and the province due to high interest rates, but believes that the high demand will keep prices up.

Housing prices in Malaga and Spain will continue their upward trend (albeit moderate) in 2024. The Solvia Market View 2023 study suggests that robust demand for housing will offset an overall reduction in transactions. The clear “cooling” in sales that the real estate sector is experiencing is due to interest rate rises, which have pushed up the Euribor and the cost of financing. This is reflected in the latest Solvia Market View 2023 study, which highlights that, despite a period of slightly lower sales prices will continue to rise, mainly due to the shortage of houses on the market.

“The slight reduction in sales we are witnessing is not due to lack of demand, but to scarcity of supply, but increases in value in 2024 will continue to grow with similar increases to this year, between 1.5 per cent and 2.5 per cent,” explained the Director of Real Estate Business at Solvia, Ernesto Ferrer-Bonsoms.

The province of Malaga is an example of this trend of adjustments. Sales have been lower in the first three quarters of the year, with a total of 24,400 transactions. Prices, however, have risen by 5 per cent year-on-year.

“The market remains under pressure in an environment of high interest rates, which together with the impact of inflation has made it difficult for many potential buyers to purchase a home,” says Ferrer-Bonsoms. However, compared to previous years, activity levels remain high, according to Solvia’s estimates.

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PROPERTY THE SPECIAL On The Coast | Investing In Property “Costa del Golf,” Perfect Place to buy a home!

The Costa del Sol, often referred to as the ‘Costa del Golf’, is favoured by golfers for several reasons.

Firstly, its Mediterranean climate ensures mild winters and hot summers, allowing golf enthusiasts to enjoy the sport year-round without extreme temperature variations.

Beautiful villas, townhouses and apartments are a part of scenic landscapes surrounding the golf courses and further enhance the overall golfing experience, with views of the Mediterranean Sea, mountains, and lush greenery.

The region boasts a multitude of golf courses, featuring diverse designs and challenges. Ranging from championship layouts to more casual options, these courses are known for their high quality and some have hosted international tournaments, contributing to the area’s reputation as a premier golf destination.

Golfers are treated to visually appealing and relaxing surroundings.

The Costa del Sol has developed robust golfing infrastructure,

Working with agents on the Costa del Sol Home buyers will probably be unfamiliar with how agencies work and more importantly, how they collaborate, on the Costa del Sol. Most foreign buyers will be accustomed to viewing properties through listing agents; that means for instance, if you find six properties you like which are listed for sale by six different agencies then you have to contact each one separately and make arrangements to view.

That’s not how it works here. With a few exceptions, mainly at the top end of the market, every single agent working on the Costa del Sol has access to pretty much every property currently on the market. Agents subscribe to a central data base of properties, collaborate on viewings and share commission in the event of a sale. And this can be to the advantage of buyers because they just need to choose one agent to support them through the process, they will do all the work for you and save you a lot of stress.

One of the popular real estate portals in Spain is Idealista. A very quick search of all property for sale from Torremolinos down to Sotogrande reveals a total of over 30,000 homes. As a buyer you are unlikely to have the time or inclination to search through them all and with so much to choose from many buyers become overwhelmed. That’s when a good agent who understands what you’re looking for becomes invaluable as they will do all the hard work for you.

Key to the rise in property sales on the Costa del Sol is the golf property market. Renowned for its world-class golf courses and resorts, the Costa del Sol has become a magnet for golf enthusiasts and lifestyle investors. Properties located in a golf development offer a unique blend of leisure, luxury, and sports opportunities, making them in extremely high demand.

including resorts, hotels, and academies, making it convenient for golfers to access top-notch facilities, receive professional instruction, and enjoy a comprehensive golfing experience.

Accessibility is another advantage, with well-connected airports and transportation networks, making it easy for golfers from various regions to travel to the Costa del Sol for golf vacations or extended stays. The region also hosts a vibrant golfing community, attracting enthusiasts from around the world. This sense of community adds to the social aspects of golfing, providing opportunities to connect with fellow golfers and participate in events and tournaments.

Unique Development in La Quinta, Nueva Andalucia Please contact us for more information The multinational, multilingual team at Roc Estates are dedicated to finding you your dream home on the coast of Spain, specialising in bargains, bank repossessions and distressed sales in the most sought-after areas including Benalmadena, La Cala de Mijas, Calahonda, Marbella, Puerto Banus and Estepona.

At Roc Estates, their business model is about quality rather than quantity, so you can be sure the team will be with you throughout your journey, providing you with honest and transparent advice.

With unrivalled experience and expertise gained from over 20 years of selling properties on the beautiful Costa del Sol and in Scandinavia, the team at Roc Estates focuses on negotiating the best price for their clients, making the process as enjoyable as possible!

This small and friendly company has access to over 20,000 properties and over 150 agencies across Andalucia, and can provide you with a huge range of contacts such as lawyers, architects, builders, management, rentals and tax through their associates.

Not only do Roc Estates have access to every single property for sale on the Costa del Sol, they can also help you to build your dream home, matched exactly to your taste and lifestyle. Their team of experts in consulting, project management, and reforms work with some of the most recommended architects and designers on the Costa del Sol to enable you to create the perfect property.

Perhaps you have found the property of your dreams but you want renovations? Roc Estates helps their clients to renovate or reform smaller properties and larger jobs such as transforming an Andalucian villa into a modern contemporary style Villa. And, if you are looking for a new build Spanish property on the coast, Roc Estates have over 150 developments of all types including charming townhouses, luxury new build villas and modern apartments.

With Roc Estates´ expertise and professionalism, all of their clients benefit from a personal and honest service, enabling you to make informed decisions. So, whether you are looking for a bargain holiday or retirement home, investment property, or to build your own new home, Roc Estates are committed to finding you the right property at

the best price. The team can also provide you with rental and management assistance, their sub constructors to rent or built you the perfect new home, or why not take a look at their incredible renovations and new builds?

Website: https://www.rocestates.com/home Address: Av. Salvador Vicente, 10, 29631 Benalmádena, Málaga Telephone: +34 650 95 20 84 Email: info@cestates.com

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PROPERTY THE SPECIAL On The Coast | Investing In Property Property in Costa del Sol: Is it still a good investment?

The real estate market in the Costa del Sol is currently booming but there is a big difference now to the boom-and-bust cycles of the 1990s and 2000s.

The pandemic and subsequent lockdowns have initiated a move away from the cities to both the country and the coast and has also spurred many buyers into bringing plans forward: making that move sooner rather than later.

In addition, the reduction in stamp duty to a standard 7 per cent, together with demand for Golden Visas for buyers from third party countries (which now includes the UK) has fuelled demand for properties priced above €500,000. This upsurge in property searches has coincided with a shortage of stock: yes, there seems to be plenty of properties for sale and many agents selling them but, there remains a shortage of good quality property at a reasonable price.

Economics inevitably dictates that, as supply reduces and demand increases so prices will rise and Moody’s confirms that prices have risen steadily over the last five years.

In addition to capital appreciation, you can realistically expect to rent out nine months a year on the Costa del Sol as a holiday rental thanks to the benign climate and all year-round tourism. This can be used to offset overheads such as maintenance expenses and mortgage repayments.

According to the latest data from the Registrars Association, over 35,500 properties changed hands on the Costa del Sol during the year of 2023. The figure is the fifth highest in the country, behind Madrid, Barcelona, Alicante and Valencia, and indicates a busy market on the sunshine coast.

Unico Properties is a professional and independent real estate agency on the Costa del Sol. Our team will help you in English or other languages. You can contact us at the office in Estepona, but also online we are ready to assist you.

Sell your property with confidence | If you are considering selling your property on the Costa del Sol, there is no better option than Unico properties. We give you free and professional valuation of your property. Knowing how much your property is worth is the first step to selling it successfully.

BUYING A PROPERTY ON THE COSTA DEL SOL We also specialise in the sale of new and existing properties on the Costa del Sol. Are you looking for a flat, townhouse, villa or something else?

We will search for the perfect property for you. Our working area stretches from Malaga to Sotogrande with well-known places like La Cala de Mijas, Marbella, San Pedro de Alcantara and Estepona. We guarantee you personal, professional service and sound advice. All th e properties on our website have been selected by us and are of top quality. Can’t find what you are looking for? We can personally guide you through our database of +1000 properties on the Costa del Sol.

OFF PLAN APARTMENTS FOR SALE IN MARBELLA

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New build 2- 3 bed apartments Los Monteros area Sea Views Indoor swimming pool From 375.000€

A APARTMENT FOR SALE IN ESTEPONA, N NEW GOLDEN MILE:

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RESALE 2 bedrooms Large terrace Sea views Parking and storage Price: 289.000€

Noami Cuyvers: +34 666 236 566 Chris Eyskens: +34 646 455 090 Nickey Corr: +34 711 020 324 English Elena: +34 642 30 24 28 German, Spanish, Italian and English

Unico properties: Centro comercial Bahia Azul 11, 29693 Estepona (Málaga)

info@unico-properties.com | ıwww.unico-properties.com

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PROPERTY THE SPECIAL On The Coast | Investing In Property NEW BUILD OR SECOND HAND

You will have seen the cranes on the horizon as Costa del Sol property developers build to keep up with demand. But is it best to go down the route of new build or are you better with a resale home that has had a previous owner (or owners)? Buying brand new has the advantage that there is no seller to change their mind or try and delay completing the transaction. You know a developer wants to conclude matters and doesn’t have any other agenda.

There can also be a considerable financial advantage to buying new, especially if you opt for an ‘off plan’ development which is yet to be completed. Many projects are offered to the market place for reservations, months, or in some cases years before building work is due to start and prices are often reduced by between 20 and 25 per cent for reservations at this early stage so it can be a great way to buy if you are happy to wait.

DID YOU KNOW! The Benefits of Golden Visa Many countries have their equivalent of ‘The Golden Visa’, but the Spanish visa is one of the least complicated to obtain.

Holders of a Golden Visa in Spain have a Spanish residency permit. This gives them permission to live and work in Spain, freedom to travel within the Schengen area, and extended rights for family members. The Visa is available to people who invest a minimum of 500,000€ in real estate, whether it be residential or commercial.

It should be purchased without a mortgage, although any amount above the 500,000€ may be financed.

The process is relatively quick, the first stage of which is taking possession of the property. This may take around 6 weeks. Applying for the residency permit should take no more than 20 working days.

The documents required are a valid passport from a non-EU country, private medical insurance issued by a Spanish company, criminal records check, proof of income to support the family, and the relevant documents demonstrating your investment.

The visa is initially valid for one year and can be renewed for a further two years if you keep the property. This is up to a maximum period of 5 years after which permanent residency may be applied for.

To make sure there are no problems and that things go smoothly, it is best to seek professional advice.

That’s not the case of course for resale homes; buyers can be moved in often within just a few weeks of finding their perfect home. And then there is the ‘what you see is what you get aspect’. It is likely that the urbanisation is well established, the garden is well cared for and you know exactly what is around you in terms of buildings and services.

Working with agents on the Costa del Sol. Home buyers will probably be unfamiliar with how agencies work and more importantly, how they collaborate, on the Costa del Sol. Most foreign buyers will be accustomed to viewing properties through listing agents; that means for instance, if you find six properties you like which are listed for sale by six different agencies then you have to contact each one separately and make arrangements to view.

Many areas in the Costa del Sol are also starting to soar in value.

A study by the Gesvalt has found that properties in the areas of Benalmadena, Estepona, Fuengirola, Mijas and Torremolinos currently have an average price that exceeded €2,000 per square metre.

Urban

planning and the Marbella of the future..

It is important that Marbella has an urban plan adapted to the 21st century that responds to the future needs of the municipality - the current plan was approved in 1983 - but it is even more important to have a clear idea of the model that the city should aim for.

Professionals involved in urban planning and the real estate sector on the Costa del Sol have advocated that the public administrations should focus their efforts on thinking about the Marbella of the future and the improvement of its services.

“The challenge is no longer to have a general plan, which we have been dreaming of for years; the challenge is to find a model for the city. What kind of Marbella do we want for the future? What infrastructure do we need? We have to think about a strategic plan for the future,” said José Carlos León, president of the association, Leading Property Agents of Spain, at a conference held at the end of 2023.

“Without a doubt, the urban plan is very necessary, but there are other infrastructures and needs, such as water or roads, that we have to address as a strategic plan for the future,” added the president of the collective which has more than 20 years’ experience in the Costa del Sol real estate market.

“The challenge is to continue improving infrastructure and services. In the towns of the Costa del Sol we have to have the best in the world,” he concluded.