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It seems that we are in the midst of a global economic downturn and a worldwide property crash, so is it the right time to be buying Spanish property…and in particular, is it a good time to be investing in property off-plan?
A lot of agents and commentators are reporting that we are nearing the bottom of the market in some of the more popular areas of Spain, with the attraction of genuine discounts in some of Spain´s most thriving resorts proving just too tempting for a large army of bargain-hunters. So while key-ready Spanish property and resale opportunities abound, the off-plan market seems a perilous place to be in a market downturn. Continue reading »
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The last 30 days has seen a record number of appointments for clients from Your Key to Spain wishing to view properties in Marbella on the Costa del Sol.
We had already seen a huge increase in the number of enquiries from the website for property for sale in Marbella during the last 6 months, compared with the same period last year, and this interest is now translating itself into viewings.
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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.
