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Costa Del Sol & Spanish Property Market Review 2018 - 2019
Property Mail talks with Property expert Peter Bowerman about the Costa del Sol property market.
P
eter is one of the most published Costa del Sol property experts in both the UK & Spanish press.
He is also the Managing Director of the successful “Overseas Dreams” Master Real Estate company with registered offices in Marbella & La Cala De Mijas. I have to say, I feel very privileged living and working in Spain’s favourite sunshine coast, the Costa del Sol. I work just as hard as I did in London’s busy property market, but everything seems so much nicer when you are driving along the coast bathed in flickering rays of sunshine through the palm trees, instead of being stuck in traffic under drizzling grey skies. Every day is very different, as some days we are valuing
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Marbella’s most prestigious villas and the next we are valuing bank repossessions or liquidation properties, at forced sale prices, that we need to sell in under 6 weeks. Te investors are flooding back to the market and I spend a lot of my time guiding them into the best “buy to let” or capital growth deals, however, nothing is more satisfying than helping clients find their first sunshine holiday home and making their overseas dream a reality. Spanish banks seem keen to offer mortgages again to the non-residents and you can expect to get between 60-70% of the purchase price or valuation, whichever is lower. Although data shows that in the more affluent and exclusive areas like the
Costa Del Sol, nearly 70% of the foreign purchasers are cash buyers. Brexit is very unlikely to cause much
change for British buyers looking for a holiday home in Spain, but Brits looking to move permanently in the very near future might want to take advantage of applying for residency while the UK is still in Europe. It’s currently very easy to get Spanish residency as a European citizen, but nobody knows what conditions would need to be met by Brits aſter Brexit. At the moment you have until the end of March to register and we have a list of the best English speaking Lawyers along the coast that can assists you with this. Although, at the time of writing, it looks like you
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