Status of Spanish Property Market
We have heard whispers over the last couple of years stating “It’s Back, Buy Now” and although it is safe to say that there was an increase in activity from buyers,there was no significant spike to write home about. Many potential buyers were still living in the shadow of the global crisis which had a major effect on the Spanish property market back in 2008.
The winds of change!
Spain is recovering – and it is recovering at a rapid pace.
Over the last couple of years the main buyers were mainly outside the UK but thatis also changing. More and more enquiries and purchases are now coming from UK and Irish based searchers looking to take advantage of the low property prices in Spain.
Interestingly, according to an article a couple of days ago in the Telegraph, it stated that figures provided by the Organisation for Economic Development showed that Spain has one of the most undervalued housing markets in the world.
Prices have dropped dramatically since the crash and even brand new developments are selling at much more affordable rates.
Another noticeable factor in the current market is a distinct lack of stock. Demand is now outweighing product availability and that will eventually only drive prices upwards again.
Are you considering purchasing a property on the Costa del Sol?
Now is the ideal time to start that search. We have access to a large database of quality and great priced properties for sale right along the Costa del Sol. We are also actively growing our stock with new listings daily.
If you would like to discuss your property requirements and what is currently available or would like to get some information on properties for sale, please use the form below.
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