Insight into the Spanish property market, guides to help you make informed decisions, and a directory of real estate professionals and home service providers from a source you can trust.
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.
When you buy or sell property in Spain the sums of money are large, perhaps one of the biggest financial decisions of your life. The high transaction costs you will face like taxes and commissions only make the decision more important to get right. And when you own property in Spain you face a host of extra challenges to manage, and costs to control. Unfortunately, the Spanish property market is opaque and full of pitfalls, and notoriously unprofessional. Buying and selling property in Spain is not a decision to be taken lightly, and you may find it much easier to buy than sell if you don’t take care. In this market it is crucial to do your own research, and don’t rely exclusively on people who are trying to sell you something – let’s just say they might not have your best interests at heart. Spanish Property Insight is the only independent source of information and analysis of the Spanish property market. Don’t even think about buying or selling property in Spain without subscribing to Spanish Property Insight.
Many vendors slashed their asking prices in the last quarter of 2013, tempting buyers back into the market, claims a new report.
House sales were given a boost in the last few months of 2013 by desperate vendors slashing their asking prices by as much as 40pc, claims a new report by the Spanish property portal Pisos.com.
Vendors using the portal to market their properties reduced their asking prices by up to 40pc in the last quarter of 2013, though reductions of 25pc to 35pc were more numerous.
As a result, sales activity at the portal rose at the end of last year, as investors and cash buyers took advantage of dramatically lower prices in some areas, claim Pisos.com.
The biggest reductions of up to 40pc in just 3 months were to be found in Roquetas de Mar, Puerto de Santa María, and Alhaurín el Grande, all of them in Andalusia.
Asking price reductions of more than 30pc could also be found in Torrevieja (Alicante province, home to the Costa Blanca).
Excess housing inventories in some coastal areas partly explain the tumbling asking prices, as vendors finally start to capitulate after holding out for years. “Although the average price reduction in 2013 was not above 10pc, a large glut of homes in some areas forced prices down to attract buyers,” said Miguel Angel Alemany, head of Pisos.com. “Anyone now looking for a second home near the beach will face some excellent opportunities.”
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