This is a website for buyers, owners, and sellers of property in Spain, offering reliable information and resources to help you get things done with confidence. It is run by Mark Stücklin, author of the Spanish Property Doctor Column in The Sunday Times (2005-2008), and the book ‘Need to Know: Buying Property in Spain’ published by Collins.
Banks own almost half the stock of new homes for sale on the Costa del Sol, according to a study by property consultants Aguirre Newman.
Of the 22,000 newly-built homes for sale on the Costa del Sol (Malaga province), 10,000 are being sold by banks. Effectively, that means banks control the supply side of the market, and determine asking prices more directly than ever.
The study also reveals that 98pc of homes for sale in the region are key in hand, compared to boom years when half the market was off-plan. The off-plan market has almost ceased to exist, with only 2 new developments started last year on the Coast.
The number of homes for sale on the Costa del Sol fell 4pc last year, and asking prices dropped 13pc, says the report.
Source: Idealista
William says:
It just show how the Banks collude !
Although it will only take one Bank to break ranks and off load its stock at reasonable prices, before the rest dump them on the market, which will cause prices to crash to levels we haven’t seen before.
There are over 500,000 new homes in Spain that haven’t been occupied yet ! So that shows the seriousness of the situation.
Hang back and wait to pick up a bargain !
francine ANGEL says:
i would like to find a great deal in costa del sol along the coast by marbella Francine