Spain - Costa Almeria
Spain - Costa Blanca
Spain - Costa del Sol
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Spanish Property Market News
This is an interim report intended to give potential buyers and sellers of Spanish property a snapshot of the current state of the Spanish property market, from an independent point of view. To this end it reviews the Spanish government’s latest figures on the performance of the real estate market, and contrasts these with observations from Spanish property
professionals and other individuals currently involved in the market. Official figures show average Spanish property prices still rising by just over 10% per year in nominal terms (6.7% in real terms), whilst the Spanish property inflation rate slows. Property professionals working in areas popular with foreign buyers – principally the costas – report a different picture. They report that that market is very slow or stagnant, with an excess of supply
over demand in many areas, and stable or falling prices. Properties are taking time to sell, and cash buyers in a position to complete quickly can negotiate significant discounts from asking prices.
Whilst the government’s figures show property prices increasing by around 10% on the popular Costas, property professionals in these areas report that prices are stagnant or even falling for most types of property. According to professionals working in the business, the price expectations of vendors are now unrealistic, and until these come down the market will stay flat. There are now signs that vendors are starting to accept substantial discounts in order to make sales, and we can expect this trend to continue in the short term. So despite the government’s figures it appears we are in a buyer’s market. Buyers can shop around, take their time, and make aggressive offers.
The buyer’s market, however, only applies to properties in second or third tier locations. For the small number of properties in the very best locations, for instance beachfront walking distance to shops and restaurants, the market is still hot. Properties in top locations appear to be still selling fast, and prices for these properties are firm. Sales of super-luxury properties costing millions of Euros in exclusive areas of the Costa del Sol are also going well, as Europe’s growing number of multi-millionaires still choose Spain as the place to buy their holiday homes.
For the bulk of the market prices are too high and there are too many properties chasing too few buyers. This situation will continue at least for the remainder of the year, if not longer. Cash buyers in a position to complete quickly are starting to find that vendors are prepared to accept figures that are substantially lower than their asking prices. Prices may yet go lower, at least in real terms (as inflation erodes the real value of stagnant prices), but it is already possible to pick up attractive properties in reasonable locations for less then they cost a year ago.
Spain - Costa del Sol - Estepona
Comprising of 183 fully equipped apartments in a tranquil development where you can discover all the advantages of luxury living, Sotoserena offers a blissful blend of tropical gardens, stunning views and
From : €249,400
Spain - Costa Almeria - Vera
Apartment, Townhouse, Villa
At Pueblo Salinas you can live near to the sandy beaches of Vera as well as having the lovely natural environment of this privileged area on your doorstep, giving you the chance to enjoy the best of both
From : €159,614
Spain - Costa Calida - Los Alcazares
Apartment, Townhouse, Villa
The fantastic golf resort of Roda Golf and Beach is located very close to the Costa Cálida beaches of the Mediterranean, at Mar Menor. Apartment complexes, semi-detached houses and detached golf villas of
From : €229,100
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