Glimmer of hope for Spanish property market as sales rise

[Nicholas Wallwork]

There are signs that the Spanish property market could be bottoming out with sales stabilising but prices are still falling, according to the latest published figures.

Residential property sales in September were up 7.4% in September, according to date from the National Institute of Statistics. While this may be a piece of good news, the figures also show that prices are down 19% on the same time last year. Also compared to two years ago property sales are down 42%.

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[rowlandsbb]

Yes there are good signs about for example the Oasis Thabernax Country Club [ Tabernas Almeria] where the development stopped as a result of the bankig crisis ]this time lasy year has now re started
The developers have been able to re structure the financing of the build and Santander are now providing mortgage facilities to the buyers who are mainly non residents

This shows that now finance is starting to become available for this type of development in Spain again
Many of the plots for villa and apartments are sold / reserved and prices start form 99.000 € for a 2 bed apartment so it is not an up market development but one aimed at the holiday home buyer and retirement buyer who has limited finance

Overall a good sign

It is only because everyone can now see a good future that developments like this can get started again

 

[advoco]

I've noticed a pick up in demand for conveyancing recently and concluded that a lot of people unscathed by the recession have decided to get on with their lives and buy if the right sort of discount can be found. Longer term it's hard to be optimistic about Brits returning in large numbers because of the pound's weakness and the continuing overhang of vacant property. But we can hope.

 

[DC]

Unemployment is up, other countries will pull spain up, the socialist government is ruining spain like in all countries.

When they wake up in about 3 years time they will then real growth, up to then is going to be slowly slowly. Great place to retire though. Great climate.

 

[rowlandsbb]

The Costas of Spain will always be attractive to northern europeans because of the good all year sun and easy access
So when these economies start moving quickly again so the buyers will come out of hiding
UK buyes need an improvement in exchange rate and the general election out of the way so that confidence can improve

But to balance that you have the fact that UK is behind everyone else in northern EU with the recovery and prices in Spain may and I say may , just move again befor the exchange rate improves
So UK life style buyers do have a risk of losing out on the good deals by waiting- diificult
decision!

 

[Resale Centre]

The article hit the nail on the head really, properties are selling and fast especially if the price is right which is becoming the case with most of the new listings that we have been taking on. And yes, prices are still falling - which in my view simply can not continue the way it is at this moment in time, otherwise I'll have to start buying up a few!!!

Today I know of three people that have bought in our area on the Costa Blanca south, unfortunately none of them through us but there are hundreds of buyers out there right now taking advantage of the bargains that are around. Just didn't think that this near to Xmas we would have so many serious buyers here!

 

[kedisg]

Very Interesting article and i can agree that there does seem to be an upward trend in the real estate market around Alhaurin El Grande where i live and run a small real estate business. The work on the new developments has started up again and people are selling property Also there are new developments waiting to start in and around the town \

I do however feel that we still need to tread slowly as the market could easilly take a downward spiral as well. Heres hoping the upwar trend continues

Jim Mackie
Kedi Star Group S.L.

 

[jameswhiting]

I have to agree with you all. But to add a bit of optimism with currencies performing as they are, properties are relatively cheap for the Spanish who may have been priced out for the last few years.
The general consensus is that prices are still falling and everyone awaits for the market to bottom, an influx of Russians Scandinavians or Germans may start off boom time again!
Everything runs in cycles and we are just exiting the largest bubble in years, wrong place wrong time.
The Euro has made EVERYTHING related to the cost of living expensive and hopefully a new government will act and stimulate tourism once again!