helping people find there dream homes on the Costa Blanca

We are Dave & Bev we run a property findind business from the Uk. We have been back and forth for the last 20 years and have a house in playa flamenca house by the pool.

In all Property market downturns
19 March 2011 @ 16:31

In all property market downturns there is a lot of sitting on fences before committing to purchase, but there always comes a moment when price reductions get so interesting it’s time to get down off the fence. Given the stable and steady increase in Overseas Property prices over the course of years, Property Investment still provides a safe and secure way to increase your wealth base.Known commonly as distressed sales, property bargains are being offered to market at heavily discounted prices. A window of opportunity has opened up for buyers who want the best property at a reasonable price. That window won’t stay open for ever. The pound may still be struggling against the euro, but local price cuts in Spain have returned them to good value holiday destination status. Prices have fallen dramatically in Spain over the last 12 months, making the country one of the cheapest for typical holiday spending items in a 36-nation list.Will property prices in Spain drop any further? In vastly developed areas quite possibly, although reputable & key areas are already seeing prices rise again. Well located and quality property has seen prices already bottomed out and the number of purchasers is increasing. It is more than six decades since residential tourists discovered the likes of Marbella and with the property market once again beginning to stir, Spain has some excellent properties for reasonable prices.The Spanish Government, Developers and Banks are drawing a common strategy in an attempt to promote Spanish property market abroad, with the UK and German home buyers in the spotlight. Also to encourage buyers investing in property, the Spanish Government says it wants to give more security to foreign property buyers.There are properties available at more or less the construction price and in the long term these have to be a good investment. It’s a great time to buy a property for anyone with a long term vision and for their own use. As always the key when buying is location and with an abundance of completed property awaiting sale in key areas of Spain could make now the perfect time to invest. The expert recently named Spain as one of her top spots for buying property overseas, along with France, Italy, Portugal and the US.

www.spanishdreamproperty.com

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4 Comments

normansands said:
19 March 2011 @ 18:36

there will always be great interest in a sunny clime, but much more needs to be done by the government toactually right the wrongs that have taken place

Mystic Meg said:
19 March 2011 @ 19:47

It will be a long time before Spains reputation and credibility will recover, bargains or not. Apart from the legal issues much of the devolpment during the 'boom' years were of poor build quality which will probably become expensive liabilities in the not too distant future..

dartboy said:
26 March 2011 @ 13:25

talking up the market won't make it true .
prices rising really you should be ashamed
given the stable and steady increase what are you talking about we had a property bubble driven by cheap lending a bubble which has now burst and prices have plummetted leaving lots of people with negative equity and now the cheap lending has gone and intrest rates are set to rise meaning people who borrowed to the max will be repossed putting more property onto an already flooded market.

Bev said:
26 March 2011 @ 18:47

Dartboy read it again. It's not talking about people who bought 4 years ago at the height of the boom but about the opportunity to buy now at the lower prices. Of course there are those in negative equity, those to whom the banks lent too much and those whose circumstances have sadly changed for the worst since they bought during the boom, but that's the same in ALL countries - Spain, Portugal, Greece, Cyprus, UK, USA, France .... you can finish the list yourself.
It's not 'talking upthe market' - it's true that in some areas of Spain prices are rising slightly but in others they are not yet, which may include where you are. So opportunity to invest as long as you choose the right property at the right price in the right location. Yes there are some properties that were not built to the best standard and these will be harder to sell as they are not good investment, but there are also some good quality properties in sought after areas that are going to prove a good LONG term investment as oppossed to liability. No the property market wont flourish overnight but it will slowly improve for the better locations and quality homes. That is why now is a good time to buy wisely.
I've lost value in my Spanish house but I have also lost value in my UK house too. I'm not looking to sell my Spanish house so it doesn't matter what it's worth at this time, that only matters when you want to sell. I would like to downsize in the UK but it's not currently worth it. So the downturn in the UK market has effected me far more than the downturn in Spain!