I keep hearing about the property crisis in Spain. You'd think they'd be giving it away, so where can you actually find Spanish Property at low prices on the net or anywhere? Most of the sites that say they specialise in this just seem to be trying it on and there is not a bargain to be had,
Neil
Neil gurgled happily, sounding much like they were saying:
Try looking at Spanish sites aimed at Spaniards, not sites in English aimed at people looking to buy second homes or emigrate.
The spanish market doesn't work quite like the british property market :-) I don't know much about the new-build situation, but a lot of spanish-owned property that's notionally for sale is really just a second house that was inherited from parents / grandparents. It's placed with estate agents in the hope, rather than the expectation, that someone will be daft enough to come along and buy it. However, if no-one does buy it, then it's no big deal - the incentive to sell is not as great. The way they're priced is not what we're used to either. The popular view is that all brits and germans are rich, so they can afford to pay what the buyer wants - rather than any ideas we may have about supply and demand.
Having said that, the reality of having a buyer wave wads of cold, hard cash is often hard to resist. So While the prices on the 'net and inthe estate agents' windows seem ludicrous, it may be worth trying a cheeky offer of 50% of the asking price. Sooner or later somone will cave and accept your offer.
However, be very, very careful. Even in "good" times the spanish market can be incredibly slow. I don't recall the exact website but there's a spanish language report which lists the average time-on-market for properties listed by region. It _averages_ over 2 years in most places. So if you do find out you don't really like the place you've just bought, it's still gonna be yours for a long time. Oh yes, and there's a nice big tax to pay when you buy - around 7% and a huge agents commission when you sell - up to 6%, so you need prices to rise a lot just to break even - and that's not going to happen anytime soon.
Forget the headline prices, what's happening is that sellers are accepting HUGE discounts to get rid, so find one you like and offer 35 % less, there's your bargain!
Peter
Forget the headline prices, what's happening is that sellers are accepting HUGE discounts to get rid, so find one you like and offer 35 % less, there's your bargain!
Peter
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