The Spanish property market is very attractive to foreign investors. The decision to buy real estate in a country famous for its excellent weather, great cuisine, beautiful beaches, and passionate flamenco, can be an exciting step. However, as with any major purchase, there are many key factors to consider. Are you thinking about investing in property? Do you want to buy an apartment, house, or flat in Spain? Discover 10 reasons why it’s worth using the services of a local, reliable real estate agency when searching for and purchasing property on the Costa del Sol.
Investing in Property in Spain: To Use an Intermediary or Not?
Where to start with investing in property on the Spanish coast?
IMPORTANT: It should be noted at the outset that many intermediaries operate in the Spanish market. Recently, however, their numbers have been growing even faster, a result of significant interest in this market and an increasing number of people considering buying property in Spain. This trend is driven by several factors, including inflation, rising property prices in Poland, and the war in Ukraine. The pandemic also played a role, opening up remote work possibilities for many.
When deciding to buy property in this part of Europe, it is worth choosing a reliable and proven agency that will facilitate the entire process.
1. In-depth Knowledge of the Local Real Estate Market
Real estate agencies, like ours, have a thorough understanding of the local market and its legal framework.
This knowledge allows us, on one hand, to find properties that perfectly match buyers’ needs and expectations, and on the other, to avoid the risk of potential legal or financial issues. This, in turn, translates into efficiency and satisfaction with the property purchase transaction.
2. Personalized Offer Matching
Real estate agents in Spain have access to databases aggregating properties for sale (both new builds and resale) or for rent ( holiday or long-term).
By understanding clients’ individual needs and expectations, they can propose properties that match their preferences and budget.
It is worth emphasizing that all agents have access to the same resources. What sets us apart is primarily our service.
– When my husband and I decided to open the first Polish real estate agency in Marbella over 20 years ago, there were many real estate agents operating in the market. Right from the start, we set ourselves an ambitious goal to stand out from other companies. This was the highest quality of service, which has become the foundation of our business – says Renata Lorens, co-owner of International Investment Marbella.
3. Professional Advice
Local real estate agencies offer professional advice – from identifying client requirements, through searching for suitable offers, to finalizing the transaction. This knowledge and experience are extremely helpful in ensuring the smooth and effective completion of the entire purchase process.
For example, there are differences between properties intended for long-term or holiday rentals and those purchased for personal use. Key factors here include: region, town, exact location, layout of the apartment, flat, or house, and the number of bedrooms.
– At International Investment Marbella, we differentiate the property search process for investment clients and those seeking a primary residence. We strive to present clients with various options, also providing additional information such as: potential maintenance costs, potential rental income, location potential, return on investment, etc. – says Renata Lorens.
4. Assistance with Financing
Considering buying an apartment, flat, or house with a mortgage? Reliable agents also offer help in finding the best financial solutions, including mortgages for up to 70% of the property value in Spain.
5. Transaction Security
Professional real estate agencies ensure transaction security through document verification and proper handling of formalities related to purchasing an apartment in Spain.
6. No Buyer’s Commission
Unlike in other foreign markets, real estate agencies in Spain do not charge commission to clients intending to purchase property, whether from the new build or resale market. The costs associated with commission are always borne by the seller.
This practice allows buyers to save time and eliminates additional financial burdens for potential investors in Spanish property.
7. Support Throughout the Purchase Process
Spanish real estate agencies provide comprehensive services, including not only support in finding the dream property (for investment, rental, or as a second home) but also assistance with formalities related to signing the contract.
– We help our clients navigate the entire purchase process. From obtaining the Número de Identificación Extranjero, the equivalent of the Polish tax identification number, to securing a mortgage in Spain and signing the deed of sale – says Patryk Mormul, a real estate agent at International Investment Marbella.
8. Overcoming Language Barriers
Culture and language can be barriers for foreign buyers. Local real estate agencies provide support in the client’s native language, facilitating communication with property owners, lawyers, notaries, banks, and public administration institutions.
9. After-Sales Services
It is worth knowing that real estate agencies like ours do not stop at just selling the property.
– At II Marbella, we offer a full range of after-sales services, including: property handover, assistance with interior design, furniture selection, renovations (for resale properties), property management or comprehensive management services, property maintenance, and property oversight for the client – says Renata Lorens.
10. Spanish Properties: Developers Don’t Sell Units Directly
The Spanish real estate market differs from what we are accustomed to, for example, in Poland. One key difference is that developers only construct the project; the marketing and sale of their developments are handled by commercialization companies that collaborate with real estate agencies, such as ours.
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In summary, using the services of a local real estate agency when planning to buy property in Spain can significantly simplify and streamline the entire process, providing clients with professional support, expert knowledge, and a successful completion of the purchase transaction.
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International Investment Marbella is the oldest Polish real estate agency operating in Marbella. It is a family business that has been active in this market for over 20 years, offering safe and proven investments on the Costa del Sol, where the sun shines for approximately 320 days a year.
Are you looking to invest in a house, buy an apartment or flat? Are you searching for new properties, or perhaps you are interested in the resale market? Wondering what is truly worth investing in and which locations are ideal for tourist rentals in Spain? Do you want to know about current apartment prices and rental rates? Contact us.