Above: On the market for €6,900,000 (approx. $7,591,035 USD), this luxury villa in Golf Costa Adeje offers panoramic ocean and mountain views.
Asten Realty
The island of Tenerife (Canary Islands, Spain)
Anton Sorokko
Founder and CEO
https://www.astenrealty.com
Tell us about your company.
Asten Realty became a presence in the south of Tenerife in 2013 when we converted an existing franchise in the Canary Islands, scoring as the No. 1 office in sales for three consecutive years in the brand’s national rankings. Operating as an independent company since June 2017, we improved the business model and are exceeding the standards of performance. We invest heavily in property promotion and portfolio awareness and design a tailor-made marketing plan for each owner. Our X factor—local expertise, boutique service and 100% reliability—has helped us receive an International Property Award for the best real estate agency in the Canary Islands in 2019/20 and 2022/23.
What is your philosophy for developing your team?
We recruit the best talent and provide top-level training to each team member before they start working with clients. We continue with on-the-job coaching and mastery sessions delivered by the Asten Business School of real estate, which we launched in 2016. We offer awards and motivation to inspire our team to get better every day and to share knowledge. We pay a generous commission on sales, which creates strong relations within the company and distinguishes us as one of the best places to work.
Tell us about your efforts to improve performance and collaboration among real estate firms in your market.
In 2018, we launched the open training project for real estate agents from other agencies in Tenerife: UPGRADE INMOBILIARIO®. That same year, we founded MLS Tenerife: a business-to-business multi-listing service for local real estate firms that simplifies and optimizes collaborations to help owners and buyers complete their real estate needs in the best way and in the shortest time.
How would you describe your current housing market?
Inventory is limited, and home prices are rising, with the average price being €500,000 (approx. $548,065 USD). Luxury properties go up in value faster than the lower and middle end. Detached villas are in high demand, and popular amenities include sea views, large terraces (which is not a norm here) and the possibility to rent short term. Owners don’t negotiate the sales price, and buyers pay the asking price, which was not common historically.
Are you seeing much foreign investment? What advice do you have for buyers outside your area?
Eighty-five percent of our buyers are from outside of Spain. Recently, we have seen an increased number of clients from Eastern Europe—Lithuania, Latvia, Poland and the Czech Republic. I encourage foreign buyers to take a closer look into the South Tenerife market. We are less exposed to price devaluation than mainland Spain. During the 2008 crisis, properties in mainland Spain dropped 65%, while prices here dropped 30% – 35%. This can be explained by the size of the local market, the warm climate and the possibility of renting out properties short term. We have low prices compared to anywhere in Europe as well as security and lovely people.
What value do you get from being a member of LeadingRE?
LeadingRE is a sign of quality. It distinguishes you from the rest of the agents in the area. It also brings you in close contact with the best real estate professionals from around the world. This international network supports us in generating more business and is a good closing tool for owners when we look for new listings.
M.E. Estates – Private Brokerage
Marbella, Benahavis, Estepona and Sotogrande within the region of the Costa del Sol in Southern Spain
Maurice Elst
Founder and Managing Director
https://www.me-estates.com
Tell us about your background and the philosophy of your company.
In over 20 years within the industry, I am fortunate to have worked as a managing partner in successful luxury real estate brokerage companies in different countries and as real estate sales director of leading golf resorts in Portugal and Spain. Taking this experience, I founded M.E. Estates in 2019 and built a team of local and international professionals who bring over two decades of experience. We are a boutique real estate consultancy with a local and international support structure.
What areas do you serve?
We are devoted to the areas of Marbella, Benahavis, Estepona and Sotogrande within the beautiful region of the Costa del Sol in Southern Spain. We have access to nearly all quality properties for sale in this region. Our portfolio of properties includes the best new developments as well as carefully selected private homes and estates that fulfill criteria we know are important to our buyers.
How would you describe your current housing market?
We have a wide range of properties and price ranges, with luxury apartments starting at €650,000 (approx. $712,104 USD) up to €35,000,000 (approx. $38,362,275 USD) for some of the most impressive estates. The luxury real estate market has gone through a period of substantial growth in the post-COVID period, partly based on pent-up demand. But Marbella has also established itself as a consolidated luxury destination in Europe, attracting buyers in search of a holiday home and those who take up permanent residence. Stock is limited in key locations in Marbella and other areas that are in high demand in the Costa del Sol. It is expected that the real estate market will start to slowly cool down, and prices may adjust, except for the most sought-after locations.
What home features or amenities are especially popular with your buyers?
Buyers are looking for more space in their homes, not only for apartments, but also for villas. They are spending more time than ever in their new (second) homes, often making them semi-permanent or even permanent residences. New developments that offer facilities such as outdoor pools, indoor pools, wellness areas and co-working areas are popular with buyers. And for clients searching for luxury villas, the basement has become an important area. They are also looking for luxurious features such as indoor pools, wellness areas, home cinemas and private gyms.
What are some of the most important trends in your market?
We have seen an influx of international families relocating to this region, so international schools are increasingly important, and the Costa del Sol offers a wide range of options. Newly introduced tax changes and incentives may also be attractive in some cases for private buyers as well as companies. It is expected that the new Start-Up law will attract remote workers and digital nomads, with Malaga probably being one of their preferred destinations. Buyers also prefer ready-to-move-in properties and are willing to pay a premium for this instead of having to go through the renovation process.
Are you seeing much foreign investment? What advice do you have for buyers outside your area?
This region continues to attract buyers and investors from many countries, thanks to the climate, year-round activities, the quality of infrastructure, international schools and accessibility. Traditionally, buyers from the UK are leading, followed by Sweden, Germany, Belgium, Norway, Denmark, the Netherlands, Italy and France. Recently, we have seen an increase in buyers from the U.S. and Eastern Europe (Poland, Slovakia, Hungary, Czech Republic). We always advise our clients to use the services of a professional real estate company to get a good overview of (and access to) all properties for sale, as well as the services of a local lawyer and financial advisor.
What value do you get from being a member of LeadingRE?
We are very proud to be a member of this important network. We love the fact that we can pick up the phone and call a colleague anywhere in the world, many of whom we meet during conferences, and be assured that they work with the highest professional standards. Furthermore, the marketing tools offered are second to none, and the education and conferences are extremely valuable.
