Nov 24
Should Spanish Developers be Discounting their stock?
developers in spain discount properties non completion off plan spanish property properties in spain spanish development a
developers in spain discount properties non completion off plan spanish property properties in spain spanish development a
Imagine that you invested in an off-plan Spanish property in 2006, paying the advertised price of 200,000 euros, with an initial payment of 30% (60,000 euros). The time has now come to complete on the property and to pay the remaining 70% of the purchase price, but you´ve just discovered that the developers have sold a similarly sized neighbouring property on the same Spanish development for 140,000 euros.
Not a nice feeling is it? But can you blame the developers?
There are a number of reasons why a developer may reduce the price of their properties in Spain. Amongst them are falling demand, where simple economic pressures mount upon a developer, forcing the company to dump stock at ´sale´ prices.
