Thursday, 20 November 2025, 10:40
The construction and development company Guamar started marketing its new development, Coto Homes, in Mijas this week. The works were just getting under way and the sales stand had not even been set up yet, but the advertisements for the properties were already on the main property portals, such as Idealista. They were in the midst of this when a mail arrived at their offices that was, to say the least, striking: the representative of a cooperative of Polish investors was offering to directly take over almost the entire first phase of the residential development.
Borja Codes, the development manager, explained that the strong offer came from a real estate agent based on the Costa del Sol, who represents a cooperative made up of 40 families from Poland. Although the purchase, if necessary, will be made individually by each of them, by presenting an offer as a block they are able to negotiate better prices and conditions. But also the control of the community of owners (and its statutes), once the building is constructed.
If the deal goes through, this group will take 80% of the planned housing units in the development in one go
Since then, the Malaga developer and the group of investors have opened negotiations, which are on the right track, and which, if finally closed, will lead them to acquire 80 per cent of the 50 planned homes at once.
The group has a chairman, who sets the investment destination and represents the investors. To this end, they are advised on opportunities and regulations by agents who are compatriots and in many cases have been based on the Costa del Sol for years.
High demand from the East
“This happened in the first week of marketing, when we didn’t even have the sales stand set up yet,” explained the manager. “For us it’s phenomenal, not only because of the sale, but also because we have acquired land there to develop 100 homes on two plots. So, if we reach an agreement, the development of the first phase would already have been dispatched and we could start directly with the second phase,” he added.
The discount foreseen for this en bloc sale operation will range from eight to ten per cent of the initially foreseen price, although it depends on the specific property. In any case, buyers know that they are buying at a special price and, moreover, with the opportunity to choose, because they have arrived just when it was starting up, so they have the entire catalogue to choose from.
The Coto Homes development will be located in the El Coto residential complex, close to the Loma del Real park and the A-387 road (from Fuengirola to Mijas). The planned homes will have one, two and three bedrooms, with landscaped ground floors and penthouses. “So, there are families who can invest a little more or a little less, and choose between a one-bedroom flat or a three-bedroom flat,” the manager explained.
Price range
The price range goes from 250,000 euros for a one-bedroom to 600,000 euros for a three-bedroom, although there is a lot of variety, depending on the type of property and its characteristics. On a different scale are the penthouses, which will exceed one million euros.
In addition, interested parties can add one or more parking spaces (there will be around 50 available) and storage rooms, which are sold separately.
Apart from the homes themselves, the key for future owners will be the communal areas. The development will be equipped with a beach-style swimming pool with sun loungers, large green areas, a gym, sauna, changing rooms and a space for celebrations with a kitchen, among others. In addition, the homes will offer certified high-level qualities. “Although it is true that you spend a lot more on the building work, the client is willing to pay a lot more than for a normal flat”.
Polish market on the rise
The truth is that the Polish buyer has become in recent years a reference for new developments on the Costa del Sol. Factors such as the uncertainty caused by the proximity and instability with Russia have played a part in this decision. But, above all, economic development, the rise of the new upper classes in this and other Eastern European countries, good airport communications and the attractiveness of the Malaga coast.
Codes illustrates this with the example of what happened with another Guamar development, the Pacaraima residential complex in Torremolinos. In this one, 90 per cent of the clients are foreigners, and of those, half are Polish. “They see it as their home, not as an investment, a place with a mild climate to spend the winter. The airport is vital on the Costa del Sol and it is vital that it continues to be extended, because we are only three hours away from 80 per cent of Europe,” he said.
The Dutch are also increasingly interested in this destination for home purchases (20 per cent of buyers in the case mentioned above); although Norwegians, Russians, Danes, Italians, Belgians and Swiss also appear, to a lesser extent.