Buying Property on the Costa del Sol
The Current Property Market
The saying “It is an ill wind that blows no good!” has never been so apt when applied to the sales market on the Costa del Sol. With a lot of property seriously reduced in price due to a number of factors, this is the best time in the last five years to pick up a property which represents excellent value for money.
Many developers have slashed their prices and have arranged favourable mortgage terms with their bankers, individuals are selling to release equity or avoid repossession, and the banks are keen to clear stock on their books. The result is that people from the North of Spain are snapping up the bargains and the more astute investors are re-entering the market.
It is generally accepted that the market will not pick up much for at least two years and therefore there will be a finite number of serious bargains to be had at present. This can mean up to 60% off market rate.
Much has been written about buying property in Spain and many myths remain about the reality, however, potential pitfalls are easily avoided if you do your homework properly, and ensure you have solid legal representation.
If you would like to discuss possibilities in more depth then either drop us an email or call us on one of the contact numbers.