This is the time to buy that special property in Spain on the CostaTropical de Granada

Oct. 25, 2009 - PRLog -- Many commentators believe that property prices in Spain are still falling. There are about 1,000,000 unsold new properties in the country so this belief is not surprising as the backlog of properties will take several years to clear. A closer study will reveal that these properties are in the most developed areas of the country and are mostly standard apartments and duplexes and prices are likely to fall a little more.

If you are looking for an individual villa or country property in a relatively undeveloped area you need to consider buying now. A few owners, either for financial or personal reasons, have discounted their prices in order to achieve a quick sale. This only applies to about 10% of this type of property currently on the market as other sellers are prepared to wait longer to achieve their asking price.

An area where this is happening is the Costa Tropical de Granada and inland towards the city of Granada. During the last recession in 1990, while prices tumbled elsewhere in Spain, the market here stood up well. Property prices have fallen 25% from their peak of 2 or 3 years ago but have now stabilised. This compares with a fall of 40% in some areas of Spain; however you can still find the individual owner in this area who is prepared to drop more to achieve a quick sale. It is these properties you need to buy now and the market, although not busy, is active. There are still buyers around. For example, about 16 properties have been sold on the prestigious villa development of Monte de Los Almendros in Salobreña this year.

An example of a property in this area that should be snapped up soon can be seen on www.countryhouseinspain.wordpress.com. This is a country property, over 200 sq.metres built, with private pool and about 9 acres of land. It is located only 30 minutes from the coast at Salobreña and Motril, 1 hour from Granada and 5 minutes from the village of Guajar Alto which has a good shop and a few bar/restaurants. It was originally valued a couple of years ago at 500,000 euros but was not put on the market. The owners put it on the market last year for 395,000 euros. but got no viewings. lthough there is no mortgage on the property the owners are under financial pressure to sell and have reduced the price to 295,000 euros. It is a property that has to be seen because the views are truly spectacular and it definitely has that wow factor.

There are no comparable properties for sale at this price in the area and the house has been approved as a vivienda unafamiliar (family house) by the Junta de Andalucia. Most rural properties are registered as naves (barns) or casa cortijos approved only by the local Town Hall.

For more information visit the web sites
www.countryhouseinspain.wordpress.com
www.guajar.com
or contact info@guajar.com. Tel: 00 34 958 069071

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I am an artist and writer living near a remote mountain village in Granada, Andalucia, Spain. I am currently writing and illustrating children's books two of which, The Wise Old Boar and The Lonely Digger, have just been published.