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I believe that the best way to go about searching for Spanish properties in the current market is as follows:
1. research the areas so that you have a specific location in mind, eg Marbella
2. browse the internet and speak to agents with properties advertised in your chosen area.
3. ask the agents how they work – do they have their own stock of properties and do they have access to any more?
4. ask them if they collaborate with other agents, and ask them if they work purely as ´property finders´ .
With the sheer volume of properties in Spain for sale, many prospective buyers are turning to Property Finders for guidance. Here is why: Continue reading »
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Although many prospective Spanish property buyers are keen to invest in property for sale in Mallorca or the other Balearic islands of Menorca and Ibiza, most buyers still seem to be favouring making a purchase on the Spanish mainland.
With the majority of buyers now purchasing properties in Spain for 2nd homes, holiday residences and jet-set boltholes, the key criteria are now related to year-round ease of access, amenities and weather.
Many find that although a 2 week holiday on the beach in Mallorca is idyllic in the summer, during the winter months when people are often looking to best utilise their place in the sun, island living doesn´t quite stack up.
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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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Crikey – what on earth is happening to the exchange rate at the moment.
After the scary days of January when the sterling euro exchange rate fell to a record low of 1.02 and some travelers were being paid 96p for each euro purchased, we saw a steady recovery to highs of 1.18 in June this year – hardly back to the good old days of 1.47 but a move in the right direction!
And now, our hopes are dashed again. As I write, one British pound is worth a paltry 1.0801
Continue reading »
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It may be true that there is a glut of property for sale in Spain at the present time. Thousands of unwanted properties litter the Spanish costas, bought up by eager investors during the boom years, fuelled by expectations of rising prices and cheap finance.
So you would think that there is more than enough Spanish properties for sale to satisfy the current demand…and let´s face it, although that demand is picking up, there aren´t exactly hordes of eager buyers battering down estate agents´ doors just yet!
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The profile of the typical Spanish property buyer has shifted markedly in the last 5 years.
During the boom years, buyers were snapping up anything they could, with demand for Spanish properties outstripping supply, meaning that most buyers contented themselves with buying off-plan and waiting for completion………..just happy to be part of the investment bandwagon. One of the most in-demand regions a few years ago was the Costa Calida, located in the south-eastern corner of Spain, and home to the well-known Polaris World golf resorts. At the time, buyers felt that consolidated areas such as the Costa del Sol and Costa Blanca had reached their peak, and that better investment returns could be achieved by buying into a lesser-known area with big plans. Continue reading »
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You´ve found the perfect property in Spain. It looks like a great deal – a lovely 2 bed apartment in Marbella, nestled in the hills and with lovely sea views.
It´s priced at €200,000 and you really want it.
But you´ve been advised by friends and colleagues to negotiate HARD! After all, everyone is desperate to sell their properties in Spain.
Your initial thoughts are to go in with an initial offer of €140,000 just to test the vendor´s resolve. Maybe he´s so desperate for cash that he´ll have signed up and taken you for a thank-you sangria within the hour!
Sadly, for you, the reality is likely to be somewhat different.
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Most buyers of Spanish properties within communities love to have a view of the swimming pool within their grounds. This often particularly suits parents who can keep an eye on their kids from the comfort of their teraces, with their ice cold beer in hand, while little Johnnie and Rosie are trying to drown the neighbour´s kids in the deep end.
But bear in mind that if you are buying a Spanish property purely for the view of the swimming pool, all lit up beautifully at night, and you cannot stand kids, then you may be advised to steer clear of the place during July and August. This is the peak season for pool use in Southern Spain. For the rest of the year, the pool simply acts as a calm oasis, resplendent in all its glory.
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PRICING
Thirdly, check the pricing. Although many commentators think that it´s now a great time to pick up a bargain Spanish property, you will need to tread carefully when dealing with an off-plan project. If a developer acquired the land during the recent boom years, chances are that he will need to recoup this cost by charging a premium to his buyers. Ask your lawyer to find out when the land was purchased – this will at least give you an idea of the yields that the developer is working with.
PROJECT PARTNERS
If you are considering buying into a resort-style development in Spain, check the status of the contracts that have been drawn up between the developers and any 3rd parties that are critical to the project´s success, i.e. golf course management and design companies, hotel management companies etc. For instance, if the resort´s main selling point is the on-site premium hotel and spa, try and make sure that the hotel will be built, and is not just on the wish-list of the developer. Continue reading »
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I´ve just moved into a new villa in Marbella, and was initially nervous about the heating arrangements.
Let me explain.
I have been in Spain for 8 years, and although I´ve moved about a fair bit during that time, I have always lived in Spanish properties with air conditioning installed for both warm and cool air. To be honest, I´ve never been a great fan of air con. The air is very dry and can irritate the skin and the eyes after a while, but I doubted there could be a viable alternative.
I was wrong. Continue reading »
