Reply To: Anyone looking for a bargain in this market?

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Anonymous
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The problem is there are plently of so called bargains out there on the type of stuff you wouldn’t want to buy – concrete structures in out of the way locations – mainly new builds – desperate developers etc

But when you try to find the exact right property in the exact right location – centrally located, spacious and with views – resale apartments – then the discounts are less than expected. I have 1 Irish and 2 madrid people looking for such properties.

But that said I have seen seen certain villas in the Mijas and Benalmadena area almost half in price from where they were 12-18 months ago – but even back then I would have said they were totally overpriced – didn’t sell then and they are not selling now. Prices are probably being distorted by sellers in deperate need of cash.

Pricing is all over the place at the moment and that in itself is not helping matters leaving aside all other global problems and GBP/EUR rates etc. There is not enough transaction to get a real feel for the market.

Also I think now you have a different type of buyer from the sheep that came on past inspection trips. I notice most are buying on word of mouth – ie an introduction from a friend and no estate agent involved and the price then seems to be fairer to both parties. Example would be an Irish guy with a holiday home on a development and bringing over a buddy who’s interested in buying and introducing him to another buddy on the same development who’s selling.

These are just my own feelings and observations