3,000 estate agents expected to go broke in Málaga province

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  • #52806
    Profile photo of Anonymous
    Anonymous
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    3,000 estate agents expected to go broke in Málaga province
    By h.b.
    Mar 12, 2007 – 8:47 AM
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    There are more than 10,600 estate agents in the province

    It’s been estimated that 3,000 estate agents will go bust in the province of Málaga over the next few months as the housing market slows down.

    The number was given to the Opinion de Málaga newspaper by the President of the Professional Real Estate Agents Association, Óscar Martínez.

    Offiical figures show that there are now more estate agents than bars across the province, at more than 10,600, with many of them being created to take advantage of the real estate boom.

    Now though, higher prices of property and increasing interest rates are slowing the market considerably, with the average time a property is now on the market increasing to nine months.

    http://forum.globalhousepricecrash.com/index.php?showtopic=16999

  • #70908
    Profile photo of Anonymous
    Anonymous
    Participant

    I read on another forum a post from one of one of the “regular” EAs,saying they were planning ahead for their exit from the market place later in the year..just in case!

    Now though, higher prices of property and increasing interest rates are slowing the market considerably,

    I thought prices were supposed to be falling in Spain. 😉

  • #70916
    Profile photo of katy
    katy
    Spectator

    Confusing figures are coming out all the time, about a month ago Diario Sur reported that it takes an average of 30 months to sell a house in málaga province (which from the for sale signs I see every day seems about right!). It was also recently reported that prices went up by 9% last year (oh yeah 😯 ).

    Now wait for post from one of the agents to say that in their area they have gone up and selling well!!

  • #70918
    Profile photo of Anonymous
    Anonymous
    Participant

    Your long experience on this forum is beginning to show, Katy…… 8)

    “Official figures show that there are now more estate agents than bars across the province, at more than 10,600”
    Maybe struggling EA’s should devote a corner in their offices serving Sangria and cappuchino…..non-smoking of course.

  • #70923
    Profile photo of Anonymous
    Anonymous
    Participant

    We had a Sotogrande agent round last week and he said it was 8 months to sell a property 3 years ago and now it’s 28 months. Which we knew so would have been fun if he said anything different!

  • #71003
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @katy wrote:

    Confusing figures are coming out all the time, about a month ago Diario Sur reported that it takes an average of 30 months to sell a house in málaga province (which from the for sale signs I see every day seems about right!). It was also recently reported that prices went up by 9% last year (oh yeah 😯 ).

    Now wait for post from one of the agents to say that in their area they have gone up and selling well!!

    Katy I’m curious. Did the Diaro Sur say what the average price was or the m2 price?

    30months?!? believe it or not i’ve had my property on sale for 2 weeks and have had an offer already, which i’ve accepted. But then again (IMO) I put it on the market for a realistic price.

  • #71008
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Katy

    I am sure the prices have gone up by 9% – the Spanish sellers have the opinion that if it doesn’t sell this year just add ten percent to the price and it will sell next year – or “my neighbour wants €200,000 for his apartment so mine is worth €240,000 because I have got a dog and my fence is red”

    That doesn’t mean they are selling though.

    As for property in my part of Malaga – well we just cant get enough 2 bed apartments.

    Oh hang on – I live in Valencia.

    Actually even here it is flat as a pancake at the minute (and fortunately I am now starting in earnest my musical career so look out soon for the CD lol)

    By the way anyone who is currently selling a house – may be interested in a little guide I wrote called

    “Why is my house not selling”

    – not only is there a guide to what you can do to make your house stand out in the crowd but there are about 30 or so free websites that you can advertise on as a particular (private vendor). Most of them are Spanish but if you don’t speak Spanish and have difficulty in putting together an advert send me a PM and I will write one for you.

    There is no cost to the guide

    Best regards

    Vince

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