Property in Spain
With the worldwide economic downturn slowly beginning to stabilise, the Spanish property market still shows no sign of recovering any time soon. The hangover from ten years of continuous growth now facilitates cash buyers with the ability to source great value property, but according to some experts, there are still reservations as to whether the market is actually at the bottom.
Carlene Gray of First Property Choice says, "there is definitely a glut of properties on the market and the current buyers we are dealing with understand this and are arriving on the coast expecting massive discounts on purchase prices." She contiues, "however, with the more established, prime location developments, many clients are getting a surprise with the level of negotiation vendors of these properties are willing to take." "You can find good properties offering excellent value, but you do have to compromise on some requirements in order to find them," she concludes.
These thoughts seem to be echoed across many of the respected and established agents on the Costa Del Sol, who feel that clients expectations are not being managed fairly by some press reports and poorly updated web sites. The laws of supply and demand are absolute and if you have a property that is well located, reasonably priced and gaining sufficient interest from buyers you would expect the present owner to less flexible on the sales price.
Staying in regular contact with a handful of respected agents, continuing to conduct research on the most popular portals and checking out some of the private classified adds in your chosen location will help you to gauge the correct prices for specific developments. This will also help you understand whether your offer will appear derisory to the sellor and help you avoid disappointment moving forward in your Spanish property search.
