Costa Brava property market report 2008

Alt Empordà Property

Alt Empordà Here prices have decreased in the past year by approximately 7% reflecting a stabilisation of the market after five years of price increases running at around 25%. However, property is still selling well and the majority of properties sell within a year.

Report prepared by local estate agents

In today’s market, the buyer can expect to pay around €200,000 for an apartment going up to €1 million plus for well located luxury villa with views, or a villa on the canals at Empuriabrava at around €750,000. In this region there is a huge variety of property and the most requested properties tend to on the canal or for ultra modern contemporary property.

This is a recent trend with buyers wanting a fresh look from the traditional stone faced houses. There is also a great deal of demand for properties which need restoration.

The region is very international with Spanish, Germans, Scandinavians, Netherlands and British and Irish, markets which made a marked increase last year and Ryanair’s new routes into Gerona airport are definitely a factor here.

However, the main buyers are French accounting for approximately 40% of the overall market. Around 30% buy as a first residence, this is a growing trend with the British and Irish market and this is reflected in the relatively high average spend of €750,000, but the majority (60%) buy a second residence here spending on average between €200,000 – €500,000.

This region is still wide open with opportunity at all levels and particularly in this year’s market when vendors have to bear in mind that correct pricing of property is key as buyers are in a stronger position to negotiate.

Alt Emporda Property Prices

TYPEAV. PRICE €PRICE INCREASE 2006 VS. 2007AV SALE PERIOD IN MONTHS
Villa with views, 4 bed, 350m21.000.000 €– 5 %6 months
Villa no views, 4 bed, 350m2650.000 €– 7 %9 months
Apartment with views, 2 bed, 100m2290.000 €– 10 %6 months
Apartment no views, 2 bed, 100m2210.000 €– 10 %9 months
Country house, 3 bed, 350m2700.000 €– 17 %12 months
Townhouse, 3 bed, 180m2380.000 €– 5 %6 months
Plot m2450 €No change

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