Selling Your Home on the Costa del Sol: The Essential Guide 2023

ARE you thinking of selling your home on the Costa del Sol but don’t know where to start then look no further. This essential guide will take you through the different steps to help you throughout this exciting journey. From finding the ideal estate agents to effective home staging tips we’ve got you covered.

Selling a property can be stressful especially if Spanish is your second language, so the Euro Weekly News has created this guide to help you through the process. This guide will explain how to sell your property by breaking down the process into simple and easy-to-follow steps, ensuring we cover all the important topics like your property’s value, required documents, and tax obligations as well as a reputable estate agent that can save you time, effort, and stress.

Choosing a Real Estate Agent

Choosing the right real estate agent is an important decision as a skilled and experienced agent can make the difference between a hassle-free sale and a stressful costly ordeal. As there are many properties on the Costa del Sol for sale and for rent it is essential to begin this journey by conducting thorough research and seeking recommendations from a trusted source. Look for an agent who specialises in property in Costa del Sol and has a proven track record. Communication skills are crucial; you want an agent who listens to your needs, responds promptly, and keeps you informed throughout the entire process.

What are the Benefits of Working with a Real Estate Agent?

Market Expertise: Real estate agents have in-depth knowledge of the local housing market on the Costa del Sol, including current trends and pricing.

Contacts: Agents have direct access to a catalogue of people already interested in properties for sale on the Costa del Sol giving potential sellers greater exposure. Agents also have a network of professionals like home inspectors and contractors which can be helpful throughout the process.

Hassle-free Process: Agents save their clients time by pre-screening properties, setting up showings, and handling paperwork allowing you to focus on other aspects of your life.

Price Guidance: Agents help sellers set the right price for their property based on the market to make sure you don’t overprice or undervalue your home.

Legal Help: Real estate agents help ensure paperwork is completed correctly which can protect their clients from any legal issues in the future.

Market Exposure: Agents will market your property extensively and reach a wider audience through their listings, social media, websites, and contacts.

Our recommendation:

Marbella Viewings

Marbella Viewings boasts nearly two decades of unwavering dedication to the Marbella real estate market and surrounding areas.  With a background in tourism and airlines, they are committed to providing frontline client service and maintaining the highest standards of integrity. Marbella Viewings specialises in offering professional and hassle-free advice to both buyers and sellers of residential properties on the stunning Costa del Sol. With extensive experience spanning from Benalmadena to Casares.

Marbella Viewings prides itself on delivering a high level of personal service, ensuring that every client’s unique needs are met with precision and care. Whether clients are looking to buy their dream home or sell a prized property, Marbella Viewings offers a friendly and transparent approach, guided by mutual trust and transparency.

Services for Sellers

For those thinking about selling, Marbella Viewings goes above and beyond to showcase a property’s true potential. Their services include professional photography, virtual tours, video presentations, and detailed floor plans, all designed to maximize the appeal of a property to potential buyers.

Multilingual Support
Marbella Viewings offers assistance in several languages, including English, Danish, Swedish, Norwegian, German, and Spanish, ensuring clear communication throughout the process.

Marbella Viewings’ property specialists excel in Marbella East, The Golden Mile, Nueva Andalucia, and Estepona. Their extensive residential portfolio features a wide range of high-quality properties, including luxury villas, contemporary apartments, exclusive penthouses, and elegant townhouses. From Marbella to Mijas Costa and beyond, they have your dream home waiting.

Let Marbella Viewings be your trusted partner in the journey to selling your property on the Costa del Sol.

Contact Marbella Viewings Today

Telephone no. 0034 634 44 88 28

Email: peter@marbella-viewings.com

Website: https://marbella-viewings.com/

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Opening Hours: Monday – Friday 10 am – 7 pm, Saturdays against appointment.

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Understanding the Market

The Costa del Sol (Coast of Sun) in Andalucía, is located in the southern region of Spain. This picturesque coastline has evolved into an exclusive haven, boasting some of the best towns, pristine beaches, and world-class golf courses. Originally gaining international recognition as a tourist hotspot during the 1950s, it has since maintained its status as a premier destination, attracting individuals looking to settle, retire, or acquire holiday residences or golf properties. The attraction of the Costa del Sol extends across borders, with a diverse group of visitors and residents, particularly hailing from the United Kingdom, Germany, Scandinavia, and France. Among its notable areas, Marbella stands out attracting the rich and famous, drawing in prominent figures such as Eva Longoria, who recently acquired a luxurious villa along this magnificent coastline.

The Costa del Sol is a melting pot of rich cultures, blending a variety of experiences and influences that add to its lasting charm. With Malaga-Costa del Sol Airport located at the heart of the Costa del Sol, it creates a housing market that is very attractive and will give an excellent return for those looking to invest in a home in the sun. However, like with most things in Spain, it’s really useful to have a professional to guide you through the selling process.

What is my property On the Costa del Sol Worth?

With its optimal location and idyllic year-round weather, a two-bedroom apartment usually sells for an average of around €300,000 depending on their location. Villas with private pools will usually sell for a minimum of €500,000 with prices rising as high as €20 million. As always we recommend that you speak with an experienced estate agent to get an accurate valuation of your property.

The nationwide Instituto Nacional de Estadistica (INE) released statistics that showed a year-on-year increase in the price of housing in Spain overall of 7.6 per cent (-2.2 inflation-adjusted). More specifically in Andalucia, the year-on-year growth was 8.3 per cent.

Also noteworthy, the property demand in Spain remains robust with house sales increasing by 14.7 per cent overall.

For more on the Costa del Sol Property Market click here

How to Sell Your Home Quickly on the Costa del Sol

Working with a skilled real estate agent as we have mentioned previously will really speed up the process along with an accurately priced property. Getting to grips with the current real estate trends in the Costa del Sol property market could considerably boost the efficacy of your sale strategy. Let’s take a more in-depth look at some recent trends:

Selling Your Home with Solar Panels

An increasing trend in the Costa del Sol’s real estate sector is the increase in demand for homes that have installed solar panels or other sustainable technologies. Thanks to the year-round sunshine this option is not only good for the environment but it is good for your pocket. Properties with solar panels or ecotechnology will increase your property’s attractiveness and market worth.

Also, keep in mind you will need to have the necessary documents such as the building permits, system warranties, and installation certificates for your potential buyers.

Costa del Sol location

It will come as no surprise that properties that are located on the coast and if possible with a sea view are still high on the list of properties for most buyers. The increasing popularity of golf properties which are located near some of the best golf courses in Europe offer the typical Costa de Sol lifestyle. Recognising the importance your properties location can assist in determining a good price point and help to sell your property quickly.

What Documents Do You Need to Sell a House on the Costa del Sol?

There are a number of documents required in order to sell your home and a good real estate agent will help you through this process by helping you to fill out and organise all the relevant paperwork. To give you an idea of the documents required here is a handy list of the top documents you may need:

-Preparation of utility contracts, community charges, and ‘Suma’ invoices. Liaison throughout the transaction with representatives of the Buyer and Notary.

– Preparation of Notary Appointment and all related Paperwork

-Translation at the Notary.

-Calculation of 3 per cent retention.

-Calculation and advice regarding Capital Gains Tax.

-Fiscal representation throughout the whole process.

-Calculation of Goodwill and a letter of ‘Good Standing’ with your community fees from the administration of your community.

-Title deed, the Escritura Pública (original ones if possible)

-Passport

-NIE certificate/card

-IBI, Impuesto sobre Bienes Inmuebles (Real Estate Tax)

-Cadastral certificate

What Does It Cost to Sell Your Home on the Costa del Sol?

Nota simple: This usually costs around €5 at the land registry office

Energy certificate: This cost will depend on the size of your home but the average cost is around €45

Cédula de habitabilidad (if it is compulsory in your autonomous community): The cost varies depending on the autonomous community and can range from €15 to €55.

Plusvalia: Sellers pay this tax based on the incremental value of the land over the number of years you have been the owner.

Community fees: If you live in an urbanisation you need to make sure all the community fees are up to date as this can slow down the sale of your property as you need to present a Community Certificate to the buyer when signing the title deed.

IBI and Utilities: IBI (council tax) needs to be paid for the full year by the seller and utility bills need to be up to date and proof will also be required to prove this.

Mortgage cancellation fees: If you have not yet finished paying the mortgage: this will be determined in the contract you signed for the acquisition of the mortgage and will vary according to your conditions. You may also be required to pay a Mortgage Cancellation and Registration Fee at the Notary, this can cost anywhere between €600 and €1,000.

Non-Resident Retention Fee: The 3 per cent retention fee is a capital gains tax that is applicable to non-residents when they sell a property. The buyer of the property will have to retain 3 per cent of the Escritura Sales Price to pay directly to Hacienda on the vendor’s behalf towards their Capital Gains Tax. The retention is based on the difference between the original purchase price of the property and the price it is sold for.

Agents Commission: If you do decide to work with an agent you will also have to pay their fees.

Legal Fees: A good legal office will help you arrange most of the documents required help you calculate the 3 per cent retention fee and give you advice and fiscal representation throughout the selling process.

Does Selling Your House Count as Capital Gains in Spain?

Yes, and capital gains tax (CGT) is due on the profits made from selling a property in Spain as mentioned above. When selling a property or investment the profit earned during the sale is taxable under Spanish law. A good legal office can help with this.

Selling your Home Tips

Selling your home can be a challenge but with the right people, strategies, and preparation you can increase your chances of a speedy sale. Here are some tips and insights to help sell your home.

According to a study by Iowa State University recently digital listings with more photos and descriptions can earn higher sale prices for the full case study click here.

It is important to declutter and depersonalise your home, fix any obvious repairs, and stage your home to sell.

Top tips on how to stage your home for a sale

Declutter rooms: clean and declutter your home, we even recommend putting some items in storage. With clean clutter-free rooms, your potential buyer will be able to picture themselves in the space.

Repaint bright or bold colour schemes: use neutral tones to create a blank canvas for your buyer.

Rethink layouts: Optimise the space you have so whether you’ve got open-plan interiors or floor-to-ceiling windows that provide exquisite panoramic views across the neighbourhood, make sure you’re showing them off!

Depersonalise: Store personal items to again help the buyer picture themselves living there. Minimalism is in, so it’s also a good idea to limit the photos and personal items on show and thin out bookshelves and display cabinets. In particular, a clear top shelf will give the appearance of higher ceilings.

Potted plants: Fresh green potted plants dotted around the property can make your home really inviting.

Fragrance: Use diffusers, candles, or even freshly baked goods to create an inviting fragrance.

Exterior: We spend most of our time outdoors in Spain so making sure the exterior and entryway of your property are clean and tidy is essential. Help your buyer to imagine themselves enjoying the outdoor Costa del Sol lifestyle. You’re not just selling a property, you’re selling a home and a new lifestyle for your lucky buyers, so make sure to entice them in by showing it off! Many people move to Spain in search of the sun, so presenting a sun-kissed rooftop terrace or a glistening outdoor pool is sure to draw people in.

Marketing Photos: Staging the garden or dining area is a great way to present your property as part of the aspirational lifestyle buyers can imagine for themselves. Consider setting places at the table with your nicest silverware and ensure that any art pieces are framed and neatly placed.

For a handy area guide and a Costa de Sol Map click here

If you found this article useful, remember to keep coming back for more top tips on living in Spain.

Read more about Costa del Sol news in the Euro Weekly News Costa del Sol edition-click here