Spanish Property News

This Spanish property news blog aims to provide you with the most interesting news on the Spanish property market and useful tips.

Spanish property bargains in 2013

Gareth Jenkins - Friday, January 11, 2013

Spain faced its toughest year yet in 2012 seeing the plummet of property prices that nobody ever was able to imagine. Properties that were once valued as much as 220,000 Euro now being offered as low as 85,000 Euro and still having a hard chance in getting sold. 

Spanish banks sustained an ever growing and unwanted property portfolio as developers and home owners failed to face up to their monthly repayments and were forced to give up the unfinished developments and house keys in the laps of the good old bank manager. 

Spanish estate agencies had no choice but to unite their forces with the banks (the new Spanish estate agents) in their fight to offload the unwanted stock that the banks possess. 

And as for the home owner that just needs to sell, well not a hope in hell as property prices dropped more and more making it practically impossible to fetch a decent sales price. 

An "each to their own attitude", developed and a negative vibe together with a weakening exchange rate ripped through the once joyful everlasting holiday atmosphere the Spanish Costa once had, forcing many UK ex-pats to fly back home with their tails between their legs.

Spanish Property up for grabsBut it is not all bad news... Really it is not. Home buyers that have waited patiently for years, attending home exhibitions and doing their homework, are now in a perfect position to invest in some unbelievable bargains in Spain.

Russian and Chinese investors got off to a flying start in summer 2012 and are continuing to snap up the deals on the Spanish Coasts, predominantly Costa Blanca and Marbella.  

Many say that these new markets are going to drive the Spanish property market out of the wreckage, however this may be short lived and probably not enough to sell all of the stock properties there are available for sale. 

The question is, how long are you prepared to wait? There is plenty available for everyone however nobody is getting any younger.... Carpe Diem, because property in Spain really is "Up for grabs", in 2013. 

- Gareth Jenkins

With more than 10 years experience in the Spanish property industry, Gareth can provide recommendations and also offer professional assistance with all the technical aspects of buying, selling or renting a property in Spain.

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