Spanish Property Market Update 25.06.2008
Relocators
Come on Down!
There are bargain apartments and villas
to be had and plots of land in abundance at good prices for self builders.
However don't expect to make any gains for about 4 years.
Ask us where and how best to build.
Investors
Prices
are still falling with latest adverts showing 2 bed apartments on the
Costa del Sol starting at
126,000 Euros. Still more reductions to come but market should bottom
out at 95,000/100,000 Euros.
The Spanish Government are buying up
large volumes of unsold apartments to use as Protected Dwellings and
Social Homes. However still over 600,000 units to go.
Inland in Granada prices are starting at 89,000 Euros. This is excellent
value front line on a Golf Course.
However do not expect any quick returns as buyers cannot any raise mortgages from Spanish Banks who have stopped lending anything to the Real Estate Sector.