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Spanish property bargains. Or are they?

Posted on by peteradmin247

By Peter Lenga, 

The Spanish property market has seen a major decline in house sale prices over the past four years. However, prospective buyers should still be very wary because bargains are often not as good as they appear. what About Bank Repossessions and Distressed sales

Spain embarked on a major building program to satisfy the demand for holiday homes in the early 90’s. Many of these properties were over priced, built in poor locations enjoying few or no amenities. The majority of these properties were financed by UK or Spanish banks, with potential rents being used to help repay the mortgage. It soon became apparent there were more holiday lets available, than customers requiring them.

In recent years the demand for this type of property within the rental market has  fallen dramatically, in favour of those properties in more desirable areas. Consequently many of these homes are empty, repossessed, or previously sold at a loss by the owner. This is a result of the massive fall in the Spanish property market.

With asking prices for properties in Spain now some 30%+ lower than in 2007, buyers are returning to the market in search of repossessed and cheap property bargains  Although there are some superb Spanish properties for sale at attractive prices, the majority of properties are on developments that should be avoided. The rules are still the same – If it’s too good to be true, it probably is !

Properties247.co.uk only work with the most established developers and main agents with whom we have a long standing relationship, in order to ensure that your investment in overseas property is 100% legal and secure. We cover the whole coast of Spain including the best inland areas.

We have:

Developers on the southern Costa Blanca who have been established since 1985, with over 10,000 properties sold to date in areas such as Torrevieja, Cabo Roig, La Zenia, Guardamar, Orihuela. They are highly respected and main promoters for most of the other Costa Blanca based builders and banks.

A Realtor with 21 years experience on the east side of Costa Del Sol with access to the best new builds and resales in Calahonda, Cabopino, Miraflores, Fuengirola and alike. A senior figure within the Spanish National Association of Estate Agents, with access to most major bank repossessions as well as  offering a full rental facility.

A unique team on the Sol. This consists of architect and master builder in Marbella, registered estate agents and experienced project managers of bespoke new build projects in Marbella and the surrounding estates, such as El Madronal, and La Zagaleta.

Specialist agents in Marbella providing the highest level of service and competitive prices in Puerto Banus and Golf Valley, Nueva Andalucia.

Our partners are developers who are well established in their region, having built and sold legal Spanish properties to thousands of satisfied clients over the last two decades. All agents approved by Properties 247 have  demonstrated an intimate knowledge of their local market and hold a proud record of outstanding customer service.

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