Views and News
Property Market Recovery – Update
The indications are that the property market has bottomed out. According to G-14, the committee of directors of Spains´s leading developers, the market for new homes is officially on the road to a mild recovery. “There is basis for optimism in the latest figures for September from the National Institute of Statistics”, they state. “Sales have risen for 5 consecutive months although year on year they are still down by 20% and compared to September two years ago, they are down 42%. Sales are bouncing back now largely due to lower prices and stricter controls on mortgage lending. However, for the recovery to continue developers have to make every effort possible to make Spanish property prices more attractive”.
The recovery in sales is expected to continue in the months ahead, this prediction based on the fact that, whilst there has been no major turnaround in the health of the market since April this year, there has been no lurch downwards either. It appears to be bumping along the floor…
All this seems to indicate that now is the time to buy…we know for a fact that there are crazy bargains to be had right now and we know of buyers offering way below the asking price and getting it…if you have been waiting for the right time to buy, all the indications are that this is it!!
Speaking to Estate Agent friends here all the signs are that investors and bargain hunters have started a mini buying spree and they are already running out of bargain basement properties to sell. We are in the process of providing links to our most trusted Agents….In the meantime if you are interested in investment opportunities contact us and we´ll pass on your details
