Cheap Property in Spain - Manage Your Expectations

Here I am again writing about bargain hunters searching for property on the Costa Del Sol region of Spain. As my previous REW posts allude to on this subject, there are a great number of clients currently biting the bullet and resuming their plans to buy a property in Spain. I feel compelled to write this post because of our experiences over the last four weeks of clients coming to the coast and being sorely disappointed with what they think they can get for their money.

Many buyers currently think that because of the current climate within Spain, that they will be able to secure their dream property, fitting a very strict criteria, in an absoute top location for way below market price. Firstly I want to make sure you don´t all think I am contradicting myself, as in my last REW post I gave some guidance about researching property prices. This still remains true, however the laws of supply and demand are constant and absolute. What I am trying to get across is that in what would be regarded as prime location, quality development you can think again about trying to acquire 50% discounts whilst adhering to a very strict brief, IE. must be ground floor, south facing, nice furniture included in the price etc. These sort of requests WILL leave you disappointed, as has been the case with several clients over the last month.

I think the media has left some people with unrealistic expectations, when it comes to the market it Spain. If you have an open mind and are prepared to do some real digging and research, you will find genuine bargains. Set a very specific wish list, development, orientation and more, you severely narrow your chances of finding anything. In fact with some of the requests we have had, at the price offered you would have more chance of lottery numbers coming in.

La Alcazaba in Puerto Banus is a perfect example to illustrate this point, this is a well located, popular development that rents well. We have had several clients offering massively below an already reduced apartment, now if you put all you eggs in one basket, with an almost derisory offer I am afraid you are setting yourself up for failure and you will still be deliberating about buying your dream holiday home in 2015. Of course you have the right to negotiate hard in the current climate, but my advice would be to broaden your horizons if you are looking for a real bargain, be flexible enough to compromise and you will be delighted with what you can find.

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: