Re: Re: More Bad news for Spanish Property!

#80530
Fuengi (Andrew)
Participant

@angie wrote:

According to Town Crier, 45% of all new builds on the Coast remain UNSOLD, that´s up 20% on year ago.

It takes an average 52 months to sell a flat, and 56 months to sell a villa, in both cases prices would have been slashed no doubt!

although i won’t argue with these stats i will say the following.

Where are these new builds located
At what price are they selling

Example: A development is located at the top of Calahonda, the developers is trying to sell 2bed/2bath, 85m2 aparments for 270.000€ (more or less). I will say the qualities are lovely but the location and amenities in the area are abysmal. Panoramic sea/mountain views
We’ve got a resale going to completion there and it sold for 180.000€ within 3 month of going on the market.

and another property 1bed/1bath second line beach, fuengirola, 41m2, 9 terrace, been on the market 4months and sold for 205.000€. partial sea views. no parking

both sold to spanish. The first proeprty beats the spots of most properties i’ve seen, yet the price had to drop 22%. the second droppped 2% to sell.