Your Spanish Property Questions Answered

Received this question from Tina "I have been planning to live in Spain for the past few years and hope to move out to the Benalmadena area this September.  I do not really want to rent as I plan to move permanently and want to settle down straight away. Are prices going to drop any further over the coming months?"

Hello Tina and thank you for your question.  Prices have already dropped by some significant margin over the past few months as investors have been selling much of their off plan stock at very low prices.   There are still many unsold properties around Benalmadena so in theory prices could continue to fall until these start moving again.

Saying that, we find that the vast majority of owners are preferring to hang on to their properties for as long as possible so as not to sell at a loss.  We find the Spanish owners particularly reluctant to drop prices.

We find many buyers trying to put in ridiculously low offers for apartments which the owners usually reject straight away.  Prices have dropped but what seems to be happening is that things are starting to level off a little as most of the desperate investors have already offloaded their properties, and therefore those that remain are hanging on as much as possible until things improve.

There will always be bargains, you just need to find them.

Good luck with your property search.

For and on behalf of Livingstone Estates who specialise is property in Estepona, property in San Pedro de Alcantara and property in Mijas.  View our Costa del Sol streaming webcam.