19/02/2025
Two apartments purchased 10 months ago from the former mayor of Estepona (the neighboring town to Marbella in southern Spain).
These apartments are located on the main street of Estepona, in an unbeatable second-line to the beach position.
Years ago, the former mayor connected the two apartments into one, and it was evident that no one had lived in them for at least a decade.
The renovation process included re-registering the property with the Spanish land registry, converting it back into two separate apartments, obtaining municipal approval for a comprehensive renovation, executing the renovation, and ultimately finding worthy buyers.
The buyers received full support, including a detailed understanding of the area, future city development plans, and guidance that led them to be fully prepared to purchase. In fact, with one of the couples, the trust was so strong that they didn’t even visit the property before committing.
The two families who purchased these apartments—one 10 months ago and the other 3 months ago—did so at an average price of €460,000. They recently refused offers to sell at €620,000, just two months after completing the purchase (having paid 30% upfront and the remaining 70% upon completion). They understand that, with Estepona’s grand development plans, these properties will likely be worth significantly more in the near future.
The apartments will be rented out either long-term or short-term, depending on the new owners' preferences.
It’s always a pleasure to know that I’ve helped great people make a smart investment and elevate their lives in one of the most sought-after locations in the world.
The second apartment will be in the next post.
