Positive news for Real Estate and housing market in Spain — Houses are selling!
It has been announced that the the housing market had only fallen by 4,5 % in 2013, compared to 2012.
“According to the Ministry’s historical statistical series, the average price per square metre has fallen 28.8% since its peak in the first quarter of 2008 (when it stood at 2,101 euros per square metro).”
“There are some real bargains, especially at the top of the market,” says a spokeswoman for Savills estate agency, which has one new luxury villa on Mallorca slashed from £15.4m to a mere £9.5m.
Talking about Costa del Sol, southern Spain, many still refer it to as “Costa Catastrophe” following the big fall in prices and unsold new built properties populating the southern coast. It is true that many banks have opened Real Estate websites selling repossessed homes at a fraction of original prices, as far as 60-70% off.
However, Real Estates are doing the same thing. It is no longer only banks selling cheap, everybody is selling cheap!
Surprisingly Costa del Sol, a very active property market and holiday destination, has defied the numbers as leader in sales.
Southern Spain’s property market is not as bad as one may think. Yes, the original housing prices have fallen and the official real estate boom is over but now it’s buyers market. Now is the time to find a fantastic property (and/or investment) at a bargain price.
English speaking estate agents are growing in number, and believe it or not, Spanish properties are flying off the shelves.