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I had a chat this morning with a well-known Spanish property developer based on the Costa Blanca.
Despite the slowing market, this developer reported that following a recent round of price adjustments (i.e. reductions), his team were mad busy - to the point where they were likely to be recruiting extra staff to cope.
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We came across a superb Spanish property opportunity last week – a top quality development in a great location, and with genuine discounts of up to 40% off.
With so many Spanish property bargains being touted as the next great thing, it´s sometimes hard to fathom what actually makes a deal a genuine opportunity. We reckon a property needs three key things to qualify as a genuine bargain in Spain – LOCATION, QUALITY and PRICE.
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We all know that there are plenty of bargain Spanish properties to be had in the current economic climate.
Unfortunately, British buyers seem so concerned with the demise of their currency that they are missing out on all of the opportunities.
In recent weeks, the Spanish real estate market has picked up considerably for many agents, particularly those that are offering their Spanish property bargains to home-grown Spanish buyers and their euro-zone counterparts.
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There really are some great Spanish property bargains available at the moment, particularly if you are looking to purchase in euros from a UK based vendor.
British sellers who are looking to repatriate their funds can now afford to discount their Spanish properties by even more than before, with sterling sinking to around 1.12 euros.
Let´s take this example. In the good old days when £1 was worth around 1.45 euros, a sales price of 200,000 euros would allow a UK based vendor to take their proceeds back to Britain at an equivalent value of £137,931. Continue reading »
