Many Costa del Sol property owners are wondering whether buyers are still active in the market. The answer is yes. Buyers are still looking and buying across Marbella and the Costa del Sol, although they are generally taking more time to compare properties and assess value. This article looks at what today's buyers are focusing on and why some properties are attracting more attention than others.
Are buyers still looking for property on the Costa del Sol?
It is perfectly understandable that you might ask that question, especially given the newspaper headlines and political situation in the world at the present time.
Over the last few years, we have repeatedly seen changing headlines, interest rates, political uncertainty, Covid, and many other issues that you would assume would have an effect on the property market. Currently, many property owners on the Costa del Sol are beginning to ask the same question:
Are the buyers still buying?
The simple answer is yes.
Buyers are still actively looking for property in Marbella and across the whole of the Costa del Sol. In many areas, demand remains healthy; however, buyers today are often approaching their decisions more carefully than they did during the strongest post-pandemic period.
The distinction is important. A few years ago, many properties were selling very quickly, almost regardless of presentation and price. Buyers were acting faster, stock levels were lower, and competition between purchasers was strong in many sectors of the market.
Today, for better or worse, the market does feel more balanced. Buyers are still looking. They are viewing and buying, but they are generally taking more time before making a commitment. It is perfectly understandable that they want to compare properties carefully, and they are thinking harder about value, condition, running costs, and general long-term practicality.
On this basis, the properties that are realistically priced, well presented, and ready to move into are generally performing the best.
Outdoor space continues to be a priority, particularly terraces, gardens, and usable year-round living areas. We are seeing that walkability to amenities is increasingly important. Many buyers now specifically tell us that they want to be able to comfortably walk to restaurants, shops, beaches, or other amenities without depending entirely on the car. Most buyers, fortunately, are happy to be able to walk to a few facilities, and they do not necessarily need to be able to walk to everything.
Energy efficiency is also becoming more relevant than many owners realise. Buyers are increasingly paying attention to solar panels, insulation, whether the air conditioning system is modern, and the general running costs of the property.
It is also fair to say that in some sectors of the market, buyers now have a far wider choice than they had previously. In some locations, there may be many similar apartments or villas competing directly with one another, which naturally makes buyers more selective.
In fairness, this is where some sellers can start to feel confused when, on the one hand, they hear that the market is booming whilst they see that their own property is remaining unsold. The reality is that buyers have not disappeared. They have simply become more discerning and they do have more choice.
In our experience, properties usually sell when the three main factors come together correctly, and these are:
- The presentation
- The location
- The price
If one of these elements is slightly out of line with the current market, buyers often hesitate and continue to search, and often find their dream home elsewhere. If you're wondering whether your property is correctly priced, our recent article on whether you should reduce the price of your Costa del Sol property might help.
The good news is that hesitation in the market does not necessarily mean there is a serious problem. Quite often it simply means that sellers need clearer guidance about how buyers are currently thinking and behaving, and understanding where their property fits into the current market.
This is where calm and realistic advice can make a real difference. We believe that it is important to approach the Costa del Sol market in a straightforward and honest way, without unnecessary pressure or exaggerated claims. It is our job to try to help vendors achieve the best price that the market will deliver, and we have many years of experience at delivering this goal.
If you would like to talk through your own situation and get a realistic view of the current market, we will be more than happy to help. Call us on (0034) 952 90 52 00, WhatsApp us, or email info@michael-moon.com
