Garu Estepona celebrates 25 years of working in real estate

THE real estate market on the Costa del Sol has changed a lot in the last 25 years.

As a reference on the Costa del Sol and on the occasion of its recent 25th anniversary, Garu Estepona Real Estate, led by Roland Gillis, is a good example of the evolution and current trends facing this sector. Roland Gillis, the director of Garu Estepona, is of Belgian nationality and has been living on the Costa del Sol since 1969, with over 30 years of experience in the real estate industry.

Changes in the real estate market in the last 25 years

According to Garu Estepona's CEO, Roland Gillis, there have been significant changes, especially in terms of procedures, client profiles, and financing options. In the past, mortgages were limited to a maximum of 15 years, whereas today they can be extended up to 35-40 years. This means that many people can now afford to buy their own homes. Previously, international buyers came from an elite segment of society. At that time, taking a flight to view a property was expensive. Nowadays, it is affordable for anyone. However, the biggest gamechanger has been the internet. Information now reaches people worldwide in a matter of seconds, and the way of doing business has completely transformed. Previously, people worked with files and brochures, whereas today, they use mobile phones and computers.

Changes in the client profile

Twenty five to 30 years ago, there were no real estate agencies for Spanish nationals, and there was a market niche to be filled. Spaniards preferred buying rather than renting, but they would purchase directly from the developer or through a broker called a ‘corredor’. Garu Estepona recognised this opportunity and opened a real estate agency to meet this demand. Initially, their clients were mainly national, but now the majority are international. Around 2003, they began specialising in non-resident clients. Current-