Property prices in Spain

[Nicholas Wallwork]

There is no doubt that the so-called “Golden Visa” has had a major impact on property prices in Spain with buyers from Russia, China and the Middle East flocking to the region. Despite the fact that minimum investment in Spanish property, to qualify for the so-called Golden Visa, is €500,000 this can actually be spread [...]

Click to Read The Full Story and Add your Own Comments to Property prices in Spain

 

[santjust]

Prices have fallen 46% compared to 2006 and they will keep on falling at a slow rate. We have are selling properties that have been sold at 250k€ during the boom at 125K€. There are still tons of bargains.

Banks sell directly, but very quickly. They cannot afford a property to be on the market at a bargain price for long. They sell at 75% discount during only e.g. 7 days. If the property is not sold during that time, it is pulled from the public market place.

The golden visas are for higher end buyers. 500k€ is a lot of money. Bear in mind that banks are not signing mortgages easily. This means that the buyers has to put a down payment of at least 50% to 75%.

The domestic market is still buying. Most of them buy cash. Surprising right?