By Catherine McGeer • Updated: 02 Apr 2024 • 11:25
Image: Shutterstock/Creative Cat Studio
If you love house-flipping shows on Netflix you will love this article. The Euro Weekly News sat down with the best real estate agents on the Costa del Sol to get insider knowledge on house flipping on the Costa del Sol. We dive into topics like the best areas and types of properties to flip and approximately how much profit you can make from this type of real estate investment.
House flipping isn’t just a business for some; it’s a true passion that transforms old, abandoned properties into vibrant homes. For Costa del Sol estate agents, the joy lies in witnessing an apartment or villa, once sad and neglected, come to life again and find new owners eager to embrace the charm of a restored property.
Top Tip: Invest wisely by seeking affordable options, but remain vigilant—don’t be misled by low prices alone. Ensure the locality meets your standards, as this crucial step is where profitability truly takes shape.
In the world of house flipping on the Costa del Sol, Marbella takes centre stage. Exclusive locations like Puente Romano, Puerto Banus, Sierra Blanca, and Nagueles offer luxurious apartments and villas, attracting those with substantial budgets.
For those with a more modest budget, areas like Elviria and Las Chapas in Marbella provide opportunities with beautiful plots and gardens, often containing old villas just waiting to be revitalised.
Beyond Marbella, Fuengirola city centre surprises with its potential for flipping, offering a variety of amenities and a beach-centric lifestyle for those seeking an easy-to-maintain holiday apartment. Villas in Torrequebrada, Torremuelle (Benalmadena), Sierrezuela, and Campo Mijas (Mijas) present attractive flipping options with spacious plots and stunning views.
Top Tip: Find a reputable contractor and establish a thorough contract. A good constructor is the key to keeping the project on schedule.
The choice of property plays a crucial role in successful house flipping. For apartments, the ideal candidate would be a unit with a terrace and sea view, ideally south-facing and within walking distance of the beach and amenities. If the community also provides parking and a pool, it becomes an irresistible offer.
In the villa category, properties with a pool and sea view (or open views to mountains or golf courses), a well-maintained garden ensuring privacy, and a garage stand out. A single-level layout adds to the appeal, making the property more attractive to potential buyers.
Top Tip: Invest thoughtfully in your renovation, considering both style and materials. The ultimate goal is to enhance the property’s value for a lucrative resale. Discerning buyers will not appreciate a hasty or frugal renovation. Therefore, approach decision-making as if the project were for your personal use while maintaining a tastefully neutral style to appeal to a broader audience.
Profit Potential: Successful flips can yield substantial profits, especially in sought-after areas like Marbella.
Creative Expression: House flipping allows for creative expression in design and decor, turning a neglected property into a work of art.
Property Value Increase: Renovations can significantly increase the value of a property, providing a substantial return on investment.
Job Creation: House flipping contributes to the local economy by creating jobs for contractors, designers, and other professionals.
Top Tip: Engage in effective communication with your real estate agent from the project’s inception, valuing their expertise in discerning market trends and buyer preferences. The choice of a skilled agent is pivotal in successfully marketing and selling your property. Select a reputable agent with a keen understanding of the market to optimise the potential of your flip.
Our recommendation: Asunto del Sol Established nine years ago, Asunto del Sol has become an example of excellence in the real estate industry, specialising in the picturesque Costa del Sol region of southern Spain. Led by the visionary Hanna and her dedicated team, the agency has garnered a reputation for turning dreams into reality, helping clients find their ideal homes under the sun. Focusing on sought-after areas like Marbella, Mijas, Benalmadena, and Fuengirola, Asunto del Sol guides clients through every step of the purchasing process. From obtaining NIE Numbers to opening Spanish bank accounts and securing insurance, the team ensures a seamless and stress-free experience for their clientele. Asunto del Sol prioritises quality over quantity, catering to serious investors looking for large properties, particularly villas on the Costa del Sol. Taking pride in overseeing all sales personally, Hanna guarantees transparency, meticulous planning, and utmost client satisfaction. What sets Asunto del Sol apart is its commitment to unrivalled customer service and a focus on quality properties. The team’s extensive knowledge of the best areas on the Costa del Sol allows them to offer unique insights into each property’s potential. Their passion for house flipping adds a distinctive touch, as they revel in transforming old, abandoned properties into vibrant, desirable homes. For the team at Asunto del Sol, the joy lies in witnessing the rejuvenation of properties and matching them with delighted new owners. Their commitment to preserving the charm of old Costa del Sol while breathing new life into these spaces is evident in every transaction. Asunto del Sol not only sells properties but also fosters a sense of community and appreciation for the rich history and potential of each dwelling in this stunning region. Hanna and the team warmly welcome you to get in touch and discuss your property needs on the Costa del Sol. Website: Click here Telephone: +34 611 201 408 / +358 440 801 122 Email: hanna@asuntodelsol.com Facebook: Click here Instagram: http://Www.instagram.com/asuntodelsol_realestate Sponsored
Our recommendation:
Established nine years ago, Asunto del Sol has become an example of excellence in the real estate industry, specialising in the picturesque Costa del Sol region of southern Spain. Led by the visionary Hanna and her dedicated team, the agency has garnered a reputation for turning dreams into reality, helping clients find their ideal homes under the sun.
Focusing on sought-after areas like Marbella, Mijas, Benalmadena, and Fuengirola, Asunto del Sol guides clients through every step of the purchasing process. From obtaining NIE Numbers to opening Spanish bank accounts and securing insurance, the team ensures a seamless and stress-free experience for their clientele.
Asunto del Sol prioritises quality over quantity, catering to serious investors looking for large properties, particularly villas on the Costa del Sol. Taking pride in overseeing all sales personally, Hanna guarantees transparency, meticulous planning, and utmost client satisfaction.
What sets Asunto del Sol apart is its commitment to unrivalled customer service and a focus on quality properties. The team’s extensive knowledge of the best areas on the Costa del Sol allows them to offer unique insights into each property’s potential. Their passion for house flipping adds a distinctive touch, as they revel in transforming old, abandoned properties into vibrant, desirable homes.
For the team at Asunto del Sol, the joy lies in witnessing the rejuvenation of properties and matching them with delighted new owners. Their commitment to preserving the charm of old Costa del Sol while breathing new life into these spaces is evident in every transaction. Asunto del Sol not only sells properties but also fosters a sense of community and appreciation for the rich history and potential of each dwelling in this stunning region.
Hanna and the team warmly welcome you to get in touch and discuss your property needs on the Costa del Sol.
Website: Click here Telephone: +34 611 201 408 / +358 440 801 122 Email: hanna@asuntodelsol.com Facebook: Click here Instagram: http://Www.instagram.com/asuntodelsol_realestate
Financial Risk: Flipping involves a considerable financial investment, and market uncertainties can impact profit margins.
Time-Consuming: Renovations often take longer than anticipated, leading to potential delays in selling the property.
Market Fluctuations: The real estate market can be unpredictable, affecting the demand for flipped properties.
Unexpected Costs: Unforeseen issues during renovations, such as structural problems, can lead to additional expenses.
The average return on investment in Costa del Sol house flipping hovers around 30 per cent, ranging from 20 per cent to 50 per cent. Achieving the higher end of the spectrum requires dedication, time, creativity, substantial investment, and a deep understanding of the market. Successful agents have even managed to reach an impressive 60 per cent return, a testament to their expertise in identifying what sells. To avoid setbacks it is important to understand buyer preferences. Ultimately, the key to success lies in a combination of skills, dedication, and a keen understanding of market dynamics.
Top Tip: Present the property with tasteful furnishings, this will enhance its visual appeal but also highlight its immediate readiness for occupancy, a quality highly valued by potential buyers, thereby optimising its value.
House flipping on the Costa del Sol involves a strategic and well-informed approach. Aspiring individuals should begin by educating themselves on the intricacies of the local real estate market, and understanding popular areas, property values, and relevant regulations.
Defining clear financial goals and assembling a proficient team, including real estate agents, contractors, and legal advisors, is crucial. Financial preparation, assessing potential properties, and creating a detailed budget are fundamental steps. Thorough research on target areas, property evaluations, and renovation planning comes next.
Obtaining necessary permits and overseeing the renovation process are critical aspects, followed by effective property marketing in collaboration with real estate professionals.
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
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I am an Irish writer who has been living in Spain for the past twenty years. My writing centers around the Costa Cálida. As a mother I also write about family life on the coast of Spain and every now and then I try to break down the world of Spanish politics!
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