Cheap Property in Spain - Increased Porfolio

Over the last month we, at First Property Choice,  have significantly increased the number of properties under the €200k mark, in the Costa Del Sol region of southern Spain. This is due to the demand in traffic for this and associated phrases on most of the search engines and in line with the current bargain hunting that is taking precidence in the current market conditions.

Surprisingly it is possible to find great apartments in desireable areas for up to 50% less than they were at the height of the boom. This is enabling buyers who had previously looked at emerging markets to enter into this very much established holiday home hotspot.

I had called the bottom of the market in Spain on one of my previous REW blog posts and I honestly believe that for sought after areas and property of decent quality I am not too far off the mark. The poor Spanish economy will not have a massive bearing on these areas as they are often populated by people from all over northern Europe and beyond. Germany and France seem to be coming through this recession the quickest, where Italy and Spain are seriously lagging behind.

Banks are also taking control of their own destiny, by setting up a real estate agancies within their infra-structure ready to sell repossessed property quickly, in the hope they can re-coup some of the losses created by over zealous lending practices.

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