3 bed properties in spain 3 beds in costa blanca 3 beds in costa del sol distressed properties in costa blanca distressed sales costa del sol a
During the Spanish property boom that took place during the earlier years of this decade, buyers became so caught up in the purchasing frenzy that the type of stock that they actually acquired really didn´t make too much of a difference to them. The most important thing in the (then) rising Spanish property market was to get a foot on the ladder, and with the glut of new-build 2 bedroom Spanish apartments that were built, most speculative investors ended up with this type of stock.
If you analyse the proportion of 3 bed units that were actually built within any given development of apartments in places such as the Costa del Sol or the Costa Blanca, you will son realise that in most cases, only a small proportion of the development was allocated to 3 bed stock – normally the corner units and maybe some of the penthouses. So if we estimate that 3 bed apartments make up approximately 20% of the total number of apartments and penthouses within most developments in Spain, it is safe to assume that this ratio still applies in today´s rather more depressed and distressed Spanish property market.
When we couple this with the fact that most buyers in today´s market are making the purchase with a longer-term vision and with the intention of using the properties themselves for family and friends, then a 3 bed property suddenly holds extra appeal.
This is something that we have noticed in the last 6 months here at Your Key to Spain. Most enquiries via our website are from prospective purchasers looking for a 3 bed property in Spain.
This presents the market with something of a problem.
The glut of available stock is made up of 2 bed properties, while the majority of demand is focused on the harder-to-find, less frequently available 3 bed properties. Therefore while there are savage price wars developing between vendors of 2 bed Spanish properties in some developments, the well-located 3 bed units within the well-regarded projects are holding their own, and are actually sometimes in high demand.
This doesn´t prevent eager buyers from expecting big discounts across all sectors of the Spanish property market, but prospective purchasers need to be realistic and take into account that smaller, micro-markets exist within the market as a whole, and these micro-markets are governed and manipulated in line with the same rules of supply and demand.
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