Update on the Costa del Sol Property Market

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Elite_MainPic_Bahia Pics 014If you own a Costa del Sol property it’s been a difficult few years since the bubble burst, but slowly but surely green shoots are appearing and in some popular areas prices are rising again as demand increases. Whether you want to sell, or simply know that your investment has value, this is great news and there was an in-depth article about the market in the Telegraph which will shine a spotlight back on the area and position it as a desirable location once more.

The article was looking at the price reduction which has been seen since the crash and speaking to both buyers and experts about their opinion of the market. Overall they were agreeing that the worst seems to be over and whilst it is still a buyers’ market due to the glut of properties, buying a property here for the lifestyle will also be a good long term investment. They were keen to stress that this is not an area to get rich quick, but that property prices do seem to be on the up as demand from pensioners and other parts of Northern Europe push the market in the right direction. Read the full article here

The key is certainly to look at the property as a long term investment and see how you can monetize it in the short term whilst the market slowly recovers. An obvious way to do this is by renting your property during the holiday period, or on a long-term basis, to cover costs and make a profit from the property even if the market won’t pay the price you need right now.

The issues with evicting tenants put people off renting long term, but faster eviction processes via the courts have improved the situation and if there’s someone on the ground to collect rents, deal with any issues and generally keep the tenant relationship on a positive footing most unpleasant situations can be avoided. This is where a Costa del Sol property management company comes in very handy, as they are your eyes and ears and an impartial party who can step in to solve issues on your behalf to keep the tenants happy and the rent coming in.

For short term rentals the issues with key collection and solving issues during the stay, as well as collecting deposits, cleaning and inspections can all be handled by professionals to make the guests happy and remove any stress from you the owner.

If you would like to see how we can help you to minimize stress and maximise income please send us an email with your requirements and we will provide a list of property management services and prices – info@homecareontheweb.com

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