The Naked Agent Spain

Hi. Welcome to the the first posting from the Naked Agent Spain.  The blog is here to give potential buyers, sellers and those taking out a mortgage a few tips along their buying / selling journey.   Also, I'll regularly discuss various issues in the Spanish real estate market.

As we all know the Spanish property market is not in great shape at the moment - bribery, scandals and lawsuits aside, property prices seem to be falling, banks have tightened-up their lending, interest rates are high, some developments have been left unfinished and petrol seems to be running out!!   However, in every market 'crisis' there is always an opportunity.   Years ago when SARS hit Hong Kong, everyone was in a panic, and the property prices crashed.  Those who were bold enough to buy in the Asian crash are now sitting on a very handsome profit.  Those that didn't are ruing the missed opportunity.  The difficulty is in knowing where to look and when to take the plunge!  

Whether it's the right time to look at buying in Spain is anyone's guess.  Some feel prices will fall more, some feel we are near the bottom, and others prefer not to think about it.  But two things are for sure - 1) Spain will always be a popular destination with the fantastic lifestyle it offers and 2) If you do your research, there are some excellent bargains out there at the moment.   

However, if you are planning to buy, there's no point rushing out and spending all your hard earned savings in a hurry.  The secret is to take your time, plan your budget and affordability, get your mortgage in order and then scout around for the deals in an area which you know.    Over the last few years too many people buying in Spain have focused purely on investment, and not enough on the lifestyle which owning a property in Spain can give you!  At the same time, too many buyers have got caught up in the excitement (me included) when buying, and not done enough of the background checks.  The real secret, whether the market is rising or falling, is to do your research and plan within your budget. That way you should have plenty of time (and ideally some money) to enjoy the real the Spain!

I believe Spain are about to kick-off against Russia, so that's where I'll leave it for today.