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I suppose everyone watched the hour-long programme dedicated to the woes of the Spanish property market, broadcast last night on ITV.
“Paradise Lost” took a long look at several buyers who had all encountered terrible hardship after buying their dream home in Spain. Let´s look at the cases that were featured:
- a middle aged gentleman who had bought an overpriced 2 bed apartment in an undeveloped area of the Costa del Sol during the height of the property boom. He had paid €250,000 euros, and he couldn´t sell the thing at €180,000 at auction.
- A British couple who had bought a villa in Marbella and had been forced to move out as they were unable to afford the mortgage repayments.
- 2 buyers who purchased on a decidedly dodgy development on the Costa Blanca Continue reading »
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The subject of pricing in Spain is very topical at the moment. I was talking to a few people yesterday who were all agreeing that it seems that most businesses here on the Costa del Sol, particularly restaurants and others in the food and drink industry seem intent on raising prices.
Having just returned from the UK, where it seems that every business is constantly having to think of ways to promote their goods and services by embarking on radical promotions and discounting, I am utterly amazed that here in Spain, the opposite seems to be true.
I´ve been told that this is a Spanish thing – i.e. their way of protecting their margins is to increase prices in the hope of attracting more revenue rather than discounting in the hope of attracting more customers.
Continue reading »
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The most common type of enquiry we receive at the moment goes something like this:
“I want to buy a villa in Marbella, but I want it to be priced around 40% - 50% under the valuation”
Let´s look at this request a little more closely.
Firstly, most vendors of Spanish property have reduced their asking prices considerably from the advertised prices of recent months. So it´s fairly typical to come across villas for sale in Marbella, reduced from previous asking prices by around 30% - 40%, with a discount of 50% sometimes available if the vendor is really desperate to sell. But certainly, discounts of 30% - 40% on previous asking prices are realistic to expect. 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 »
