Wednesday, 18 January 2023, 18:43
Although we are currently living in a time of social instability following two years of pandemic and the war that is taking place in Eastern Europe, everything we have experienced has had an impact on our way of understanding and valuing life, prioritising the important things. The option of remote working, more efficient in many cases; the importance of details; and knowing how to enjoy what is really worthwhile together with the time we have spent at home has meant that many people have decided to carry out renovations to adapt it to their needs, while others have seen it necessary to move house or even buy a second home with more outdoor space to spend long periods of time there.
In any case, we must bear in mind that this is not the first crisis that Spain has gone through, and the real estate sector has shown that it has always been part of the solution to any problem, economic or social. Furthermore, as a country, Spain continues to offer the legal security that foreign buyers demand, and the Costa del Sol in particular continues to be a world benchmark in terms of quality of life, infrastructures and services.
That is what they say at GILMAR Real Estate, a leading Spanish company in the sector that has been proving to hundreds of thousands of clients for almost 40 years that they have done the right thing in choosing them to buy, sell or rent their home.
"Housing has been the 'bank' of Spaniards. A house is an asset that you can sell, rent, inherit, donate, and even use as collateral in certain financial situations. Bricks and mortar never fail. Even knowing that there are other investment options, the culture of Spanish society has always relied on housing. We were, are and will continue to be part of the solution," says Jesús Gil, a partner along with Manuel Marrón.
Whether it's to live in or as an investment, when it comes to buying a property you have to take into account the areas of expansion. As GILMAR have stated, in addition to the Balearic Islands, the Costa Blanca and the Costa Brava, there has been a very significant demand in the province of Malaga and the Costa del Sol since last summer.
In this regard, the company stresses that collaboration with local administrations is essential to facilitate development activity. Good land development planning and the agility of the procedures involved in the process activates the development of new projects and stimulates the economy.
In terms of price, although demand generally leads to an increase in price, in the case of current constructions it also implies an improvement in the quality of new homes, a commitment to sustainability and the use of new energy sources such as aerothermal energy or ventilated façades.
It is therefore not surprising that there has been a diversification of the buyer profile. "Since last summer, there has been a significant increase in the presence of Spanish buyers, who have decided to switch from living three months of the year on the coast and nine months in other major cities to enjoying the quality of life offered by these areas for most of the year while spending just three or four months in their main residence. As for foreign buyers, we continue to see demand from citizens from northern Europe, among other areas," say GILMAR.
The company works with private and 'family office' investors who invest in newly built homes in order to obtain returns through rentals.
Moreover, they explain, investment funds are looking above all at hotel assets, office buildings, land and logistics. "Brick and mortar does not fail in our country, and both private buyers and investment funds (including large sovereign wealth funds) from many countries around the world know this," Gil emphasises.
For all these reasons, GILMAR are categorical: "It is always a good time to invest in real estate, especially if we are talking about the medium or long-term investor.”
In the case of new builds, GILMAR have a department specialising in the sale of developments that channels the growing demand for this type of housing, boosted by the search for homes that meet the criteria of energy efficiency and large terraces, something that is harder to find in second-hand properties.
Both in Malaga and on the Costa del Sol, this real estate consultancy offers interesting investment options, both for the end buyer looking to live and enjoy the quality of life in this privileged area, and for the investor who wants to obtain returns through rentals.
Within their wide range of new developments, two developments stand out as being very attractive to local buyers, mainly young people (couples with children). Within the medium-high segment, GILMAR highlight that one of the most successful developments - with a significant rate of sales - is 107 los Almendrales, a residential complex of 49 Scandinavian and contemporary style homes, located in an area well known by the people of Malaga.
The other development, which provides access to "more affordable" luxury housing, is Biznaga Plaza, an ambitious project of 25 one, two and three-bedroom homes on Calle Frigiliana. This magnificent architectural proposal will mark a before and after in this consolidated neighbourhood near the Misericordia beach and close to the modern and innovative Antonio Banderas seafront promenade.
If we extend the geographical scope to the Costa del Sol, GILMAR professionals highlight interesting developments such as Scenic Estepona, a development of 74 contemporary style homes in the town centre of Estepona. This is a turnkey product, which stands out for the high level of finishes and surfaces far superior to the rest of the new build product in the area. Nearby, in Manilva, we find Blue Suites, 2-3 bedroom flats just a few minutes from the town with unbeatable sea views and high quality communal areas with spa, gym and swimming pools, among others.
In Sotogrande Villas, in the Altos de Valderrama, those who love freedom, privacy and golf will find a paradise to enjoy nature. All this with a distinguished style and a new outstanding design based on sustainable architecture.
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