Reply To: need help !!!! buying a property

Chris Nation

Hello John

I’m looking to buy in VLC city centre. I’m competing with the locals, by and large, if ‘competing’ can be used to describe a market which the latest TINSA stats say has dipped 2.2% y-o-y and has an average sale period of 14 months.

Unlike Joe, I fixed myself up many months ago with a fluent English speaking independent lawyer so, sorry, I cannot put my business your way.

The question I have been casting around for and found no answer, the answer to which may help Joe and others as they approach the moment when the talk get round to turkey, is – what do you observe as the % between asking prices and agreed prices? Clearly, every case is unique but in a particular market, say inner city flats or rural wrecks, a pattern must emerge.

My hunch is that it took the Spanish a very long time to realise that the gravy train had been derailed and adjust prices accordingly and that, with outfits like Kyero and other selling agencies with a vested interest in stimulating interest bigging-up the very modest signs of recovery, prices will again be related to the good old days.

Any ideas?