Mission Statement: to assist the integration of foreign residents living in Spain
By EWN •
Published: 31 Oct 2024 • 15:00
• 1 minute read
The property market on the Costa del Sol is booming, and not just because of the summer heat! In my 23 years in the industry, I’ve seen many changes, but the post-COVID surge is unprecedented. The market is now more mature and established than ever before.
When I started as an estate agent in Calahonda in 2001, our clients were mostly British or Spanish. Today, the coast attracts a diverse international clientele, thanks to extensive development and improved infrastructure. For example, direct flights from Gothenburg (Sweden) to Malaga have increased from one per week in the 90s to 11 per week now, reflecting a broader trend across Europe. Malaga airport saw 161,684 flights in 2023, up from 104,536 in 2000. Meanwhile, the number of homes in Malaga province has grown by 40 per cent.
For estate agents, the market has transformed dramatically. New technologies allow us to reach global clients with just a few clicks. 3D tours, video tours, and social media enable potential buyers to explore properties from their living rooms in London, Oslo, Berlin, or Örkelljunga. This convenience has sped up the buying process significantly. In 2015, selling a property took months; now, it often takes just weeks or even days.
However, there are fewer properties for sale now. In August 2024, there were 54% fewer homes on the market in Malaga province compared to August 2015, despite an increase of 120,000 homes since then. The market is now characterized by high demand and limited supply, making it a seller’s market.
If you’re considering selling, choose an estate agent with a well-established office in your area. They will have better local knowledge and possibly an existing client list. Ensure the agent is registered and has public liability insurance. Look for agents affiliated with API or GIPE, the major estate agents’ associations in Spain.
[email protected] • www.startgroup.com
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