Well, I have lived in spain most of my life and know a lot of business people who have worked and work in the property industry who keep me updated on a regular basis. Obviously the market is very different now to what it was a couple of years back when you would not even get away with a 2% discount off the asking price in Spain. Now however there is room for negotiation, but most sellers have discounted heavily already as some estate agents won’t even bother marketing your property if your asking price is ridiculously high. Not many sellers, if any, would put their property on a website at a price expecting to sell at 50% below the asking price unless they are in reposession proceedings. So Katy is right in saying that it would be helpful to know the vendors situation. I am currently selling my property and if someone offered me 30% below the asking price I would not even bother getting back to them as I would assume they are just time wasters. If I had to sell below this mark I would hang on and continue with holiday rentals for a couple of years until things picked up. Banks are trying to help distressed sellers now with offering interest only mortgages for a couple of years and that coupled with the possibility of renting your property out takes the pressure off a lot of sellers, so some will not even budge from the asking price and just wait. But it varies a lot depending on the sellers current situation. I would think around 10 – 15% below the asking price is a good deal, but obviously check out what others are on for or even better have sold for so you can get a better idea, as most estate agents don’t even know themselves what the true value is of most properties on the market and can only gauge prices from what has sold in the past year and at what price.