Spanish estate agency Roan is organising a property bazaar in Madrid to sell holiday homes on the coast at discounts of up to 60%. The market will run from 25 to 28 June on the Paseo de la Castellana – one of the main shopping avenues in Madrid.

Roan recently ran a property bazaar – the first of its kind – to sell discounted primary homes in Spanish cities, principally Madrid. The event was a big success, claim Roan, who noticed that 12% of the 5,000 enquiries were for holiday homes, inspiring the idea for a market dedicated exclusively to second homes on the coast.

The properties on offer at the next event will have an average discount of 38%, claim Roan, with a maximum discount of 60%. Prices will range from 54,900 Euros to 330,000 Euros, with an average price of 118,000 Euros.

The cheapest property for sale will be a 53m2 flat in Torrevieja, on the South Costa Blanca, on offer at 54,900 Euros.

Most of the properties for sale will be from developers, from Spain’s alarming glut of new properties that have not yet sold. These will be offered key in hand, ready to occupy this summer. Some 20% of the properties will be bank repossessions.

The areas best represented in the market will be Valencia, Alicante (Costa Blanca), Murcia, Almeria, Huelva & Cadiz (Costa de la Luz), and Malaga (Costa del Sol). In particular Gandia, Denia, San Juan, Torrevieja, Benidorm, Roquetas del Mar, Vera and La Manga.

Advantageous financing options will be available, but only for the duration of the market, claim Roan.