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Ok. I´ve seen the place I want. It´s gorgeous. It´s a 3 bed townhouse in Rio Real – yes I know, going back to the same area, but it is nice, trust me. In fact, it´s not really a townhouse. It´s a semi-detached villa, with all of the boxes ticked – covered terrace, eat-in kitchen, fireplace, great views, south-east facing. It needs a lick of paint and a bit of updating, but it´s been reduced from €620k to €470k and is located in one of Marbella´s best areas. Having sold my 2 bed apartment for €499,000 last year, I could even end up ´quids-in´ on this whole house-moving experience if I get the place for a good price.
Apparently the vendor isn´t desperate. He retained a 10% deposit from a buyer who was unable to complete last year, hence why it´s now at a lower price.
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The most common type of enquiry we receive at the moment goes something like this:
“I want to buy a villa in Marbella, but I want it to be priced around 40% - 50% under the valuation”
Let´s look at this request a little more closely.
Firstly, most vendors of Spanish property have reduced their asking prices considerably from the advertised prices of recent months. So it´s fairly typical to come across villas for sale in Marbella, reduced from previous asking prices by around 30% - 40%, with a discount of 50% sometimes available if the vendor is really desperate to sell. But certainly, discounts of 30% - 40% on previous asking prices are realistic to expect. Continue reading »
