Property owners, banks and real estate agents turn to desperate measures to sell Cost

[Nicholas Wallwork]

Holiday properties in Spain are proving difficult to sell with owners, agents and banks trying to entice buyers with an ever increasing range of desperate measures.

Spain has around a million newly built properties that are languishing on the market and almost half of them are holiday homes on the coast.

Areas that were once popular with foreign property investors such as Valencia, Murcia and Andalucia are now full of unsold new homes. There 46,366 unsold on the Costa Blanca, 30,027 in Valencia, 27,279 in Murcia, and 21,902 on the Costa del Sol, according to figures published in Spain.

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[rowlandsbb]

I think the exact quantity of unsold properties is not clear but certainly a lot but also sale completions this year are not expected to be much down on 2008, mainly because the off plans bought a couple of years ago are now ready and the majority of buyers are completing their purchase

Not withstanding this there is no doubt that now is a good time to find a bargain if you are looking for a life style purchase
May not be the bottom of the cycle but that is a difficult call!

So if you find the life style home you want negotiate hard to get the best price possible......do not buy just because it looks cheap or the offers are good!!