Is there anyone looking to buy in this market, hoping to find a bargain? If so, what’s your general impression as you do your research and look around? Are you seeing falls in asking prices? Are you starting to see bargains, or at least reasonable value, or are vendors still dreaming in bubble-land?
– 2 bedroom villa in La Torre Resort. 1 year ago the cheapest resale price was about 210K Euros. Now one can find for 169K beofre bargaining.
So E210K at 1.5 = £140K, E169 at 1.28 = £132K. Its not fantastic discount land for a UK buyer especially given most other investments (stocks in particular even gold (to a lesser extent) have fallen apart in the period). The exchange rate adjustments wipe out much of any perceived gain. If the seller is mortgaged (via a Euro mortgage) they have caught a cold, the (UK) buyer unfortunately is not in big clover unless they mortgage heavily and anticipate favourable exchange rate movements or hold Euro deposits between the two dates.
The best bargains were around when polaris were (quietly) offloading part paid properties approx. 6 months ago, but they were few and far between, some of the flash offers they had on were just rubbish.