Malaga – Costa del Sol | Specialists focus on the present rise within the property market however worry a slow-down later this yr

“We’re as we had been in 2007,” stated José Carlos León, CEO of Nvoga and head of the Marbella-based actual property affiliation Main Property Brokers, which incorporates the primary teams within the sector. “However we might be victims of our personal success,” he warned.

Property gross sales on the Costa del Sol have elevated, particularly within the luxurious sector. The issue, stated León, “is the rise in development prices of latest properties, of between 3% and 4%”.

As a part of the Costa del Sol actual property sector’s III Solidarity Padel Match, representatives of the sector acquired collectively final Friday within the Felipe VI congress centre in Estepona for a convention. There, in a collection of talks and conferences, they debated the primary challenges dealing with the sector.

There was one concern on the programme that many had been significantly eager to deal with, however few wished to danger making a prediction: the potential of an actual property bubble.

“The market is worrying. There are indicators of it slowing down within the final quarter of the yr,” stated León.

What’s extra, “there’s a downside of amassed demand” which, in accordance with León, will probably be solved partially when the brand new city grasp plan (PGOU) is established.

“All of it got here without delay and in 2022 we now have made transactions price 10 million euros,” he stated. Nevertheless, on this second quarter of the yr, “indicators of slowing are already evident”.

If 2021 was an actual “record-breaking” yr, this one might be even higher, regardless of the aforementioned issues. In keeping with León, “property remains to be a safe asset”, regardless of the rise within the Euribor, the index usually used to calculate mortgage mortgage curiosity in Europe.

“Luxurious properties are promoting finest, as this isn’t affecting by fluctuations as consumers don’t depend upon mortgages,” he identified.

A key query was additionally the return of Spanish clients, “for residential, fairly than vacation tourism”. And above all, the looks of a brand new sort of buyer, Individuals and Canadians, who go to the Costa del Sol as vacationers and “go residence fascinated by it”.

“They’re searching for consolation, tranquillity and safety,” stated León. He pressured the latter, because it features significance given current occasions. Nevertheless the professional, who took to the stage of the Felipe VI congress centre to bop and sing (We Are The World, no much less, to the astonishment of the viewers), is cautious. “The sector needs to be extra skilled, there’s numerous unqualified observe,” he stated.

One of many details is the determine of the property agent, questionable, in his opinion. “The client will need to have the assure that every part will go easily after they make their buy,” he stated.