The Spanish property market offers homes to suit all budgets, but going by some of the asking prices at the top end, not all vendors have heard about the credit crunch.
A new survey of asking prices of 80,000 properties listed at Facilisimo.com, a property portal, provides some insight into what you get for your money in Spain.
The most expensive homes
The most expensive property advertised was a 3,000m2 pile in Madrid’s posh residential district La Moraleja, with 11 bedrooms, 12 bathrooms, numerous other rooms, 1 hectare of land, and a price tag of 13 million Euros.
That was at the end of last week, when Facilisimo released its survey. Today the same property is listed for 15 million Euros, an increase of 2 million (15%) in the space of 4 days. Perhaps the vendors thought it wasn’t selling fast because they weren’t asking enough.
It may be a big pad in Madrid’s La Moraleja district, but 15 million Euros is an optimistic price tag in today’s market. That’s the thing about asking prices – there’s no limit to what you can ask. Whether you will get it is another story.
The second most expensive home for sale at Facilisimo is a villa in Pollensa, Mallorca, with 1,200m2, 7 bedrooms and bathrooms, 12 hectares of olive groves, sea views over the bay of Pollensa, and an asking price of 12 million Euros. No doubt the vendors hope to catch the attention of a mega-rich foreign buyer (German, Russian, even British) looking for a trophy holiday home.
The most expensive flat will also need to appeal to foreign buyers if it is going to sell quickly. It’s a penthouse duplex in Marbella, 415m2, 5 beds, 6 baths, terrace of 184m2 all around, big sea views, and an asking price 3.5 million Euros.
The cheapest homes
The cheapest property listed was a 44m2, 2-bed flat in Lleida province (Catalonia), for 25,000 Euros.
The cheapest detached property was a 80m2 village house in Membrio, Extremadura, with 4 beds, 2 baths, and an asking price of 26,000 Euros.
Or how about a flat in Nerva, Huelva province, Andalucia, 2-beds, 1 bath, new kitchen and fully furnished, all for 29,000 Euros.
Rental prices for rich and poor
According to Facilisimo, rents are highest in the La Finca urbanisation of Pozuelo, a smart residential district of Madrid popular with football players from Real Madrid. Renting a house there will cost you 12,000 Euros/month (or cost around 5.5 million Euros to buy). What do you get? Luxury, with all the trimmings. 800m2 of floor space, lots of beds, baths, pool and plot of 3,000m2.
At the other end of the scale, the cheapest rental in Spain is a 1 bed flat of 55m2 in Acaucín, Malaga province (home to the Costa del Sol), for 200 Euros/month, community fees for the garden and pool included (not exactly the trappings of poverty).
Next cheapest, a 35m2 studio flat in Torrevieja, Alicante, for 220 Euros/month.