Henry Aflecht, a 53-year-old millionaire from Finland, has announced the sale of his luxury villa situated on the Costa del Sol in Mijas, Spain, with a listing price of €2.6 million. Aflecht shared the news on his public Facebook page, emphasizing that he is selling at this price due to what he describes as a bear market, characterized by a prolonged downturn in property prices. This context suggests that he may be motivated to sell due to potential declines in the real estate market in the region.

The villa, which he purchased for just under €700,000 at the end of the last decade, boasts impressive amenities including an outdoor swimming pool, hot tub, and steam sauna, encompassing a total living area of 350 square meters with six bedrooms. Aflecht has also invested around €450,000 in renovations over the past four years and estimates that the total value of the home, factoring in furniture and appliances, could exceed €1 million over his purchase price. His expectations for a profitable sale, given the current market conditions, highlight the risks and potential rewards of real estate investment in fluctuating markets.

In addition to the villa in Spain, Aflecht also owns a property in Portugal, suggesting that he may have substantial investments in international real estate. The sale of this villa may serve as a benchmark for the luxury property market on the Costa del Sol, providing insights into how other high-end properties could be affected by the current market trends. His decision to sell at this time may reflect broader concerns about the viability of investment returns in similar properties, especially as economic uncertainties persist within the region.