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.
Private vendors advertising their homes at the Spanish property portal Idealista.com dropped their asking prices by 10.6pc in July compared to a year before, the biggest fall since the crisis began.
The chart above illustrates how vendor price expectations have now fallen into negative double-digit territory as the Spanish housing crash continues into it’s forth year, with vendors under more pressure than ever from banks, the Government, and weak demand.
There is one thing to bear in mind, however. Asking prices in Spain tend to be much more inflated than in countries like the UK, where for various reasons asking prices are much closer to sales prices. Silly as it may be, too many vendors in Spain think they will get a better price if they price themselves out of the market.
Vernon White says:
Tell me!! We have given up looking at Agents etc, twice we have wasted money on Legal Fees only to find out Papers are not in order despite being assured by `Agents` that there were !
Only good thing is that now we can wait until the next place we like the look of and check ALL Paper work is up to date and we WONT be going via any `Agent` , especially `Brit` ones , they are parasites and as about as honest as a Banker !!!
hoping for a Private Vendor with sense , maybe we are the crazy ones, even looking to buy in Spain , but we have great friends there and we love the people , weel, the Spanish ones , the Brits are a moaning boring lot , Spain well rid if they all need to scuttle back to UK, as long as they wake up and smell the coffee and price their properties realstically , which even now is rather unlikely, hoping for a buyer to bump up their Pensions or relieve them of Debt !! Aint gonna happen guys !!
paul wentworth says:
Mark, Re your final para’ I said as much some 12/18months ago I had experience of Spanish vendors regularly putting their property with another agent at a higher price than previous, still living in the boom years and totally deluded!
But hey Vernon! love the Spanish people (well most anyway). Have some great Spanish friends.