The latest house price index from Kyero.com, a leading property portal, shows a decline in the average asking price from €280K to €270K – a small but significant indication that perhaps vendors are becoming more realistic about what their property is actually worth on the open market.
“Some of the average figures for individual provinces are still all over the place, but overall, I hope we’re beginning to see a new realism in the asking prices of Spanish properties,” said Martin Dell, head of Kyero.
“Weighing this report alongside a raft of other metrics we track in intimate detail, my guess is that now is a great time to haggle a good deal on property in Spain. I think we’re at, or near, the bottom of a 10-year property cycle and we’ve 5 years of growth ahead of us.
“That won’t be true of every location – and it certainly won’t be true of houses or developments which were ill-conceived and badly located in the first place. However, armed with the available data, the prudent buyer can get a great deal now – particularly buyers from other Eurozone countries.