Flat in Marbella!

I have been watching property prices with great interest of the past 2 years and have deliberately held back from buying as prices have continued to fall across many areas of southern Spain. I did get very close to buying a nice medium sized villa early this year near Albox but as it was still considered an "illegal build" after 6 years so I reluctantly gave it a miss!!

This year it seems to me that many more vendors are having to continue to reduce the prices as many properties are just not selling.

I do understand where some property vendors have held the price as there may be a mortgage to be repaid etc.

However there are still some ridiculously over ambitious prices being asked in some areas. I have just seen a rather pleasant 2 bedroom/bathroom flat - sorry apartment - for sale in the Marbella area for 350k euros!! I fully understand the ethic of location, location, location but I have seen some great 4 bed roomed villas with pools in very nice locations for way less than that!

As I say it's just an observation of  "the rose tints"  still being firmly worn by some vendors.

Mind you if they can get a buyer to pay that kind of money for an apartment good luck to em.

But I doubt that there are many prepared to pay a premium like that for Marbella these days.

Cheers

HI STEVE

I THINK U DID THE RIGHT THING , THIS IS STILL NOT THE RIGHT TIME TO BUY AND PRICES WILL

STILL FALL FURTHER,AND I AGREE WITH U THAT SOME AREAS AND PROPERTIES A WELL O.T.T

WITH THEIR PRICES.THE PROPERTY MARKET IS AT A NEAR STANDSTILL CURRENTLY WITH

10s OF THOUSANDS STILL UNSOLD FOR MORE THEN 2 YEARS AROUND THE COSTAS, AND

AGENCIES LAYING OFF STAFF OR PUTTING THE SHUTTERS DOWN ALTOGETHER.

MY VIEW IS TO HOLD FIRE AND RENT AS OPPOSED TO BUY AND SEE HOW THINGS GO..

I ALSO AGREE WHEN U SAY MARBELLA PRICES ARE STILL EXHORBITANT, AND FOR THAT

MONEY U COULD GET A MUCH BIGGER PROPERTY WITH A LOT MORE SPACE  BUT IN A MAYBE

LESS UPMARKET AREA .,ULTIMATELY ITS YOUR CHOICE.

BEST OF LUCK