The Latest Spanish Property News from Kyero.com
February 2nd, 2010
I know this defies logic, and I'll understand if you decide that I've joined the pundits who only voice a positive spin on the Spanish property market - but, things do seem to be picking up in Spain.
Ignore property asking prices and ignore the government data - they're both misleading. Many vendors still have unrealistic expectations about what their property is worth today - and the government data has never accurately represented actual transaction prices.
Speaking with estate agents over the past few weeks, more than a few have reported increased sales activity, and the number of estate agents paying to advertise on Kyero.com is at a 12 month high.
Combine that with an overall 43% increase in activity on Kyero.com, and you'll understand why I say that the Spanish property market seems to be picking up. It's not just me either, several of this week's news stories also paint the same picture.
Learning from German Property Buyers in Spain speaks about how the German economy was one of the first out of recession - making the still-suppressed Spanish property market an ideal place for them to be investing right now.
In Brits Buy As Pound Gains Against Euro, we read that as the Euro slides against Sterling, buyers from the UK might be following suit and looking at investing in Spain again.
There are also signs that the domestic Spanish property market is picking up: New Mortgages Rise For First Time in 18 Months.
Now, let's be realistic about how you can find a competitively-priced property in Spain.
- Ignore the asking price and haggle hard
- Investigate new homes direct from the developer
- Always get independent legal advice
The economy in Spain is still struggling - and will continue to do so for a while yet. Unemployment is still growing, Spain's national debt is still worryingly large, and the country is still in recession. So, take your time and do your own research when buying in Spain.
Martin Dell, Kyero.com
Is any property below €50,000 a cheap Spanish property? Are cheap Spanish properties only to be found at auction or as bank repossessions? How much below market value does a Spanish property need to be to be considered cheap?
Continue reading: What IS cheap Spanish property?
