bargains cheap demand developments properties property spain supply a
There are some real property bargains to be had in Spain, but these tend to be in the areas of over-supply, and so although the properties may appear cheap to purchase, they may not necessarily represent the best value for money.
Again, the media´s obsession with the philosophy of ´cheap is best´ doesn´t always stack up to be the best advice. Supply and demand dictate that very often the cheapest properties are the ones that are unwanted. The price tag may seem attractive, but if the properties are in relatively un-developed areas or within empty developments, does this really mean that it´s a good value investment?
These media ´experts´ are causing problems – for the market in general, but also for the genuine buyer who is looking for a great property in Spain. Buyers who believe what they read may well end up losing out on the opportunity to acquire their dream properties or may end up buying in completely inappropriate areas for their needs.
I wouldn´t have a clue how to advise a client to buy a property in the UK, and I wouldn´t expect anyone to listen to me if I tried, so it amazes me that millions of people are prepared to base their prospective Spanish purchases on reports from journalists who have rarely visited or researched the individual areas within the Spanish regions, the pros and cons of individual streets and projects within those areas, and the demand and supply for the myriad of options available.
But then I guess we are all just suckers for a good headline!
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