Interesting Costa del Sol property

Well the property market is definitely getting interesting now with all sorts of properties coming onto the market at very competitive prices. We are finally seeing a return to the ‘real’ market prices that could be found prior to 2004.
Of course if you look into the statistics supposedly prices have returned to their 2006 figures, but with all due respect to those who compile the stats, this is in our opinion slightly optimistic.

Of course, as I hope you realise, you cannot generalise about property as certain areas hold their values better than others. And of course when the property boom was in full swing many bought as inflated prices which as skewered figures to no end!
Quality and location is closer to the 2006 average, but as many who did buy ‘investments’ are starting to realise, their properties do not fall into either category.

There is also the situation where people who bought 10 or 20 years ago, can still sell for far more than they bought and still undercut similar newer properties substantially.
A good example of this is this 2 bedroom Mijas Costa apartment. At 99.000€ you will not find anything similarly priced. And with a small amount of reform you will have a property that will have you friends, who bought investments or holiday homes in the last 3 years green with envy. With only 10.000 of work spent on this property and renting at 500€ a month, you could be looking at a return of 5% per annum, which is higher than the average rental yield for Spain. And that’s not taking into account future selling price when the market picks up again.

Another example would be this 3 bedroom Fuengirola apartment for sale. A great holiday home or all year round residence with the beach only minutes away. Several large shopping centres nearby and of course the centre of Fuengirola is relaxing 20 minutes walk away. This sort of property with pool, gardens, underground parking and storage is still extremely hard to find in Fuengirola.

In both cases these apartments are the best prices properties in the community/area as the vendors realise that too attract attention in the current market you need to undercut your competition.

Regards
Andrew Bellés

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One Response to “Interesting Costa del Sol property”

  1. Gaidlylusuasp says:

    I think you are thinking like sukrat, but I think you should cover the other side of the topic in the post too…

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