Buying a property on the Costa del Sol can be a very exciting and smooth process, but it can also be a very frustrating experience…so how would you like it to be for you? The answer is easy – everyone of us wants to see our ideal property in the first viewing, get a massive discount on the asking price, sign and complete with no complications, receive the key, move in and start enjoying either the new beautiful home or juicy returns on the property investment on the sunny coast of southern Spain! The reality is unfortunately often somewhat different.
The property market in Malaga and the Costa del Sol is back to its recovery, which is fantastic news for sellers and real estate agents but making buyer’s position somewhat weaker. Good properties which are priced correctly and are in the locations with high demand are being sold very quickly and there are often several buyers competing for one property. Some locations, such as Malaga city centre, have literally doubled the prices over the last 2-3 years due to massive demand from foreign investors. Most of such properties are being transformed into holiday accommodation rented to tourists.
So which part of the process can become frustrating? Having gone through same experience ourselves, we’ll try to name just a few somewhat annoying parts.
Well, there are definitely more than enough estate agents serving local and international buyers, maybe even too many! However, the majority are still Spanish agents, especially for certain areas such as for example Malaga city! And, although the international demand has increased substantially, many of those agents still speak ONLY Spanish. Of course, if you do not speak Spanish you can avoid working with Spanish agents, but by doing this you might be losing on a substantial selection of properties, among which might be exactly your ideal one!
Patience, time and persistence are some of the keywords to a successful property hunting in Malaga and Costa del Sol. Be prepared to chase after the agents as they do not always respond to your enquiries; regularly (several times a day) and persistently search all internet resources such as portals, social media, agents’ websites; go through local property papers; walk or drive the streets and look out for “For Sale” signs in your preferred search areas; be flexible for viewings. Being a property buyer in Spain is almost a full-time job! And makes it even more difficult if you are not personally here.
So how can Malaga Expat Consulting help to make buying a Spanish property a pleasant and smooth experience for you? Well we can take over all the frustrating part described above and do the work of searching and chasing, requiring time, patience and persistence. We will find and short-list the properties matching most closely your requirements and agree viewings for you to attend. We can also do viewings on your behalf in your absence and get back with full report. Once the property is found we can negotiate on your behalf, representing solely your interests, and afterwards follow it up till completion. While the legal conveyance of the property and preparation for the Notary should be performed by a lawyer of your choice, we can still be your point of contact liaising between all involved parties, as trust us, Spanish lawyers also need chasing sometimes.
Once the Title deeds are signed, there are still a few more steps to complete, such as transferring all utility bills with suppliers, changing over rubbish and IBI (rates) in your name at the Town Hall, registering your details with the Community of owners. All of this involves lots of legwork and time and fluency in Spanish, and surely your lawyer will offer it to you as part of the package, but here is where you can save by letting Malaga Expat do it for you. Furthermore, if you plan a refurbishment, it would require obtaining a building license from the Town Hall, which we can help you with as well. Our service range doesn’t stop there. Should you decide to start renting your Malaga property for holiday lets, we can properly register it, advise on regulations and obtain for you the obligatory tourist letting license required in Andalusia.
Do you still wish to buy a property on the Costa del Sol? Then get in touch with your thoughts and requirements and we’ll be happy to provide a personalised quote to help you find your ideal Spanish property.