“I want to be near the sea but also close to the mountains…
I want to live in the country but have all the convenience and facilities of a big city…
I want to have my privacy but I don’t want to feel isolated…
I want no extremes of temperature: I don’t want it too hot or too cold…
I want a beautiful garden but it has to be low-maintenance…
I want to be close to the airport but away from any noise…
The house has to be immaculate but I don’t want to spend any time cleaning it…
I want to mix with Spanish people but I want to live in an Expat community…
I’d like a traditional house but with a modern feel to it…
…I want a location where I can live a Millionaire’s lifestyle on a shoestring budget”
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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?
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Supply and demand governs any market. Not all vendors are desperate to sell. In fact, with a market recovery likely at some point in the coming years, many vendors are content to keep hold of their properties rather than dispose of them at a discounted price.
Demand is always greater for beachside properties in Spain, or for properties within prestigious and highly regarded developments or areas, so in these cases vendors are more able to command the asking prices.
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We´ve all seen the headlines during the last 18 months. Not a week goes by without some sort of negative article in the UK media, or some ´hard-hitting´ TV documentary, lamenting the woes of the Spanish property market.
The media is all-powerful in the UK, and despite everyone protesting to the contrary, most of us believe what we read in the papers.
Within a very short space of time, the media is capable of ending the reign of politicians and football managers, of provoking unnecessary public health scares, and of destroying entire businesses and industries.
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Although the Spanish property market has been through turbulent times recently, the two things that buyers always look for is QUALITY and LOCATION.
Certainly, for those seeking to purchase luxury villas along the Costa del Sol, one of the buyer´s key criteria is normally SECURITY. Unless you are prepared to employ your very own security guard around the clock, the choice is limited to a handful of quality urbanisations that offer discerning buyers those all-important features of PRIVACY and SECURITY.
We are working in a market where the buyer is faced with lots of choice – almost too much! Therefore, that buyer can afford to be picky. Yet, every day we encounter vendors who simply cannot understand why their Spanish property isn´t being snapped up, despite numerous viewings.
The easiest way to tackle this issue is to imagine yourself as a buyer.
Most of us decide within the first 10 seconds if a property is right for us, so first impressions are SO important.
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Many of our clients have been asking us about the availability of properties that have been repossessed by the banks in Spain.
Apparently, there have been lots of ´lists´ of repossessions doing the rounds of estate agents, particularly in the Costa del Sol, with details of seemingly incredible deals, such as villas valued at 2 million euros, now available for 500,000 euros.
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Now may be a good time to invest in Spanish property, but my advice would be to tread with caution, and to be well researched.
The market in Spain has taken a hammering in recent times, and although not every vendor is desperate to sell, some of them are. Remember that a large proportion of these properties were purchased as 2nd homes, meaning that they were bought as a luxury item. So as the economic climate for owners becomes more gloomy, disposable incomes begin to shrink and people face job losses and spiraling debt, it is these luxury purchases that are often the first to be cashed in.
It is a popular destination for German and English tourists. Over 200 kilometres of some of the best beaches in
