local property market update

Local Property Market Report June 24 – Orgiva, Lecrin Valley, Lanjaron, Velez De Benaudalla, La Alpujarra, Costa Tropical

June 2024 Local Property Market Update: Vital Insights for Homeowners

Hola, it’s Mathew here with our monthly roundup of the local property market. We’ll dive into the latest facts, figures, and news affecting you, local homeowners. Let’s start with some key statistics: If you prefer to watch the full video which goes into much more depth, just click on it in the blog.

Property Market Overview

In the current month, we’ve observed some interesting shifts in the property market across various areas.

Lecrin Valley

This month, Lecrin Valley saw a total of 186 properties available for sale, marking a 30% reduction year on year. The average asking price remains relatively stable at €138,000, with the price per square meter at €931, reflecting minor fluctuations from last year.


Lnnjaron had 84 properties for sale, showing a 10% decrease in stock from the previous year. The average price per property was just over €100,000, or to €832 per square meter. However, this area experienced a significant 39% drop in average prices, highlighting some irregularities in market trends.


Orgiva’s market remains robust with 81 properties available for sale, a slight increase from last year. The average asking price here is €240,000, a 5% rise, with the price per square meter at €1,283, staying fairly consistent.

Velez de Benaudalla

In Velez de Benaudalla, there were 69 properties on the market, with an average asking price of €175,000 or €1,219 per square meter, showing stability in both pricing and stock levels compared to last year.

Key Issues in the Market

One of the main issues we continue to see is “stale stock”. Properties that linger on the market can deter potential buyers, who may assume there are issues with the property. This highlights the importance of obtaining a professional valuation rather than relying on average prices, especially when considering square meter prices, which can be highly inaccurate.

The term “slow mover” is used in many mature markets to describe properties that have been on the market for an extended period. In Northern European markets, a property can earn this label in as little as 12 weeks. This can negatively impact its attractiveness to buyers, particularly those looking to relocate from abroad. It’s essential to incorporate this consideration into your overall marketing plan, especially if your property is appealing to foreign buyers.

Summer Viewing Trends

As summer vacations kick in, viewing tours are booked up weeks in advance, providing ample opportunity for potential buyers to explore properties. However, it’s crucial to be wary of tourist viewers—those who schedule viewings on short notice without serious buying intentions. Often, they haven’t obtained their NIE numbers and are just using a spare day of their holiday to view properties out of curiosity.

A telltale sign of a tourist viewer is a lack of feedback from your agent post-viewing. If your agent isn’t providing any feedback, positive or negative, it likely means the viewers were not genuinely interested in buying. To save time and effort, ensure your agent qualifies viewers properly.

News Highlights

Holiday Rentals

The holiday rental market has been rocked by significant changes. Malaga, Sevilla, and now Granada have ceased issuing new holiday rental licenses. Barcelona has announced a ban on all holiday rentals starting in 2028. This trend could spread to other municipalities, causing uncertainty for those in the holiday rental market. Buyers who want to rent our properties are now hesitant to purchase properties without holiday licenses, impacting the market dynamics significantly.

Illegal Rentals

There’s a crackdown on illegal rentals, with fines up to €100,000. Authorities are actively searching for and penalising illegal listings. If you’re renting a property without a tourist licence, be prepared for inspections and potential fines. This crackdown is part of a broader effort to regulate the rental market and ensure compliance with local laws.

Golden Visas

The Golden Visa program, which offers residency for investing €500,000 in Spanish property, is under threat of abolition. Despite this, there’s still a strong demand for high-end properties. Properties owned for up to 10 years can still be included in Golden Visa applications. This presents an opportunity for those who already own property in Spain and are considering applying for the visa.

Mortgage Mis-selling

The mis-selling scandal surrounding mortgages by Spanish banks continues. Homeowners affected by hidden clauses that led to higher charges are receiving compensation, sometimes up to €50,000. These cases involve clauses that set a floor on interest rates, causing homeowners to pay more than they should have. Legal advice is recommended if you believe you may have been affected, as compensation could be substantial.

Bogus Gasmen Alert

Beware of fraudulent gas inspectors, especially in the LecrinValley. These scammers claim you need an up-to-date gas inspection and certificate, replacing your regulator and hose for an inflated price. Genuine gas companies do not make unsolicited visits. Report any suspicious activity to local authorities to prevent others from falling victim to this scam.

Final Thoughts

Stay updated with our latest videos and get in touch for any questions or further information on the local property market. We’re here to help. Don’t forget to like and subscribe to our channel for more updates. See you next time!

Bye for now.

By staying informed about these trends and issues, you can make better decisions regarding your property investments and sales. If you have any questions or need assistance, don’t hesitate to reach out to us at Hola Properties. We’re always here to help you navigate the complexities of the real estate market.

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