Spanish Property Insight › Forums › Spanish Property Forums › Property Questions & Answers › Where are all the 70pc discounts and bargains from banks? › Re: Re: Where are all the 70pc discounts and bargains from banks
Mark, I think that bahia de Plata is pretty good at €164,000.
There are 70% off bargains all over Spain; from Eixample in Barcelona, Ibiza and the costas. The banks are not going to offload properties quickly; they are slowly selling massive blocks to “overseas” investors; ie major funds, who are taking a five to seven year view – they (investment co) are paying nearly nothing basically, and the banks write off some major amounts of debt. The rest of the unsold property will be DRIP fed into the market (via banks own agents) over the next five years.
I reckon that we will look back to 2012 as the turning point in the “depression” and a missed opportunity not buying into stock markets and more specifically prime real estate in Spain at 1999 prices. Bargains abound; you just need to look and be nice to your local estate agent 🙂 😉 😉