Better than expected, is all I can say. There is plenty of misery, especially on the south coast, but some agents are reporting the best year ever, with sales driven by prices.
There is still a lot of over-priced property on the market, but if you make an effort you can now find genuine bargains with sea views walking distance to all the things people want.
The problem is, they have also built a lot of property that nobody wants, especially not at today’s prices. All that unwanted, unsold property makes the market look worse than it is. As usual, it’s about segments.
There is a lot of resales that have a very low standard in finish and build. Most agents and builders do not have an aftersales service so if you have a problem after purchase, have a good lawyer at hand. What can I say, you get what you pay for I suppose and aftersales service comes at a price.
Sales and rentals have been very good for us this year and it is true that a lot of it is price driven but unfortunately the market is like a malignant tumour that needs to be cut out as soon as possible. Only then can the market regenerate in a healthy way. This is going to take time and requires a lot of time and patience, not to mention money. In the meantime buyers have got some great opportunities and light is at the end of the tunnel.
I worked in the Torrevieja area last year and we cater to scandinavians. Sold a lot but mostly cheap stuff. The more expensive things only seem to have russian buyers. It must be hard to wade through all the stuff on the market though and lots of people are still trying to sell at pre-crisis prizes.
The things we actually sold was down 40-55% depending on area.
From a dear old client: Does it smell of dead rats in here?
Hi there Very similar with us. We aimed toward Polish property market, and we are quite well. Lot of people looking for bergain properties on Costa Blanca. The problem is all over Europe, and especially in Poland the PR in press, internet, news, spread up the news. now in Costa Blanca you cen get a 2 bed apartment on the front line beach for 90.000 euros. And there is a problem to convince the potencial client this kind of things DO NOT exist.... Kind regrds from La Mata.
Yes things are still slow on the property front in the areas you mentioned, but there are some amazing bargains to be had (if you are looking to buy). If you would like any help in finding a property I could help, as I live in Xeraco & work in Oliva and can put you in touch with a reputable agency that has a large selection of properties and also deals with bank reposessions. email@example.com