Gary´s view of the Spanish Property Market – 1- 9th Dec 09
At present the market is still in a depressed state and will continue to be this way for the foreseeable future but what this is doing is making prices drop to a more realistic value, something which will please potential purchasers. For those looking for an affordable holiday home, the market right now means realising that dream is more affordable than it has been in 5 years. For those seeking to purchase for investment the opportunities are plenty but the key is to ensure the property has rentability, meaning it can offer people something more than normal. There are lots of developers offering discounts but the key is not to the buying price but what happens once you complete. This is why it is important to speak to rental companies prior to completion to get their view, something Complete Spanish Property undertakes before taking any property on.
We are unsure what the implications will be in Spain of the Dubai crisis but it is going to have a knock-on effect to all those countries/companies who lent money to Dubai and are now struggling to get it back. America will suffer, United Kingdom as well but with Spain having two of the top five richest banks in the world then potentially money will have been given to the Dubai investment. We will just have to hold our breath and hope Spain doesn’t get dragged in too much.
For many 2009 has been a tough year and we hope we can start 2010 with optimism but positivity breeds positivity so we are adopting this attitude to ensure we can source, market and sell good quality properties for good prices. Investment-wise, there are some good opportunities out there, with low initial deposits, so if you are interested in talking about current opportunities please contact me
Yours, Gary
