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Many potential UK-based buyers of Spanish property are holding off in making a purchase, firm in the belief that they are best waiting until sterling has recovered at least some of its lost ground against the euro.
Of course, this makes sense. Why buy something now, when you can get it for 20% less in 6 or 12 months time?
But one interesting statistic may make those UK based buyers sit up and take notice. As one of the leading Spanish property portals, we have noticed increasing volumes of enquiries during the last 6 months – strange when you think of the financial mess everyone is supposed to be in. I guess this means that the purchase of a Spanish property is still on the agenda for plenty of people, particularly as the prices have come down and started to look so attractive. Although around 70% of our enquiries eminate from UK based clients, 70% of the actual sales volume can be attributed to non-UK buyers. And in the vast majority of cases, these buyers are from the eurozone.
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Here are some facts.
1. We are in the midst of a recession.
2. It is not the best time to be looking to achieve the best price for anything if you are selling.
3. There are some great deals to be had.
Now, let´s translate these facts to the Spanish property market. If you are a prospective buyer and you have found a property in Spain that takes your fancy, then you will clearly want to secure the best deal.
Now let´s pause a second……this is not an entirely different scenario to shopping for other commodities. For instance, if you fancy a new Mercedes, you would probably go and take a look at one or two dealerships and then haggle for the best price. Likewise, if you wanted some work doing at home, you would get a few quotes together and then try to secure the best price for the job. Continue reading »
