With property prices in some of Spain’s best resorts, villages, and beach locations at their lowest for six years, now is the time to buy property in Spain, argues a respected voice within the industry. Prices this low suggest a potential to rise significantly in years to come.
That is the message from Bridget Rosser, sales and marketing manager of the Cheltenham-based Almanzora Group, a company that sells property in the Almeria region of south-east Spain. Prices for some of the properties on the resorts sold by the Almanzora Group have been reduced to levels not seen since 2003.
“Over the years, the property market in Spain – especially the ‘investment’ market – has proved to be extremely cyclical, much more so than it is in the UK,” says Rosser. “Therefore it offers much greater and, in reality, more obvious rewards to those who take timely and thoughtful advantage of it.
“Although setbacks must occur, just as they do in any economy, I predict that the overall market in Spain and in its coastal provinces will recover in due course and go on to deliver healthy investment returns.”
Rosser is looking beyond the current problems of the credit crunch and falling confidence, and bases her arguments on powerful underlying trends such as lifestyle and demographic changes that are set to drive demand in the long-term. But even in the short-term, Rosser sees hopeful signs in the form of government efforts to get the market going again. “Government moves to stimulate lending are welcome news for buyers,” says Bridget.
The Almanzora Group has announced across-the-board reductions of 20% to 30% off for properties on well-established developments in Almeria.
Developments include Desert Springs – Europe’s only international award-winning luxury family resort and championship desert golf course – and the traditional fishing village Villaricos and nearby Playa Marques, known for its seven kilometre long Great Sandy Beach, El Playazo.
The properties range from apartments, townhouses and cottages to villas, beach houses and country houses.