Re: Re: Costas – When will this market bottom?


“House hunters out and about all over the place” This was on another forum last year and I did ask the poster how they knew this and what nationality they were 😕

I lived in marbella during all the boom years and never noticed buyers all over the place let alone know their nationality.

So now the Germans are buying, well it’s a change from the Russians I suppose. 🙂 I know an Estate agent who is not British and sells almost exclusively to Germans and Scandinavians. They are keeping their heads above water by rentals and property management, scarcely sold anything in 2 years! They do have a lot of Germans wanting to sell though. This is in an area where there are as many German residents as Britsh.

It will be difficult to tell when the market bottoms out on the Costas. I guess it will be when individual buyers see a property they want and feel the price is reasonable. Many owners of decent property won’t reduce at all. I know a few who have properties on sale and will not reduce even if they have to wait years. Most of the reductions will come from blocks built way out in the sticks that no-one in their right mind would want.

One thing I do know, you won’t find real bargains by trawling the websites. You need to be on the spot and network or have someone there to do it for you…and I don’t mean those rip off property finders just a decent local agent who knows their stuff.