THE DOORS ARE OPEN ON SPANISH PROPERTY SALES
If ever there was a time to snap up a bargain Spanish property, then that time has to be now. Never before has the chance been so affordable to own your own Spanish property, to live, retire, work or generate revenue by cashing in on the still increasing tourism market.
According to the real estate valuation firm Tasaciones Inmobiliarias (Tinsa), in Ancalucia, the average price of housing fell by 6.8% in August over the same month of 2010, which marks an incredible accumulated drop of 23.5% since its peak in late 2007.
The price drop is starting to ease now, which many industry professionals feel is finally at the bottom of the trend, and that prices will soon start to increase, in the same way that overseas tourism had dropped in recent years, in favour of the so called “staycation”, but has now started to reach record highs once again, with some areas registering 100% hotel occupancy over the summer months.
Across all of Spain, the average house price fell 6.4% in August over the same month of 2010, and in the metropolitan areas, there was a decrease of 5.8%. In the Balearic and Canary Islands, property only dropped by just 4.9% during August.
After all figures are adjusted, based on the historic information and current sales, there is now a 29.2% drop on ​​the Mediterranean coast. In the capital and large cities, the cumulative reduction in the price stands at 25.6% and in other urban areas it stands at 23.4%.
These figures alone show how property prices have dropped, and with the new tax measures announced by the government, it is quite clear that prices will soon start to creep up. In real terms, irrespective of the reported conditions of other European countries, estate agents across Spain are already seeing a rise in enquiries, inspection trips and sales, as eager investors, one step ahead of the game, are snapping up the best of the bargains already at rock bottom prices.
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Filed under: http://www.theleader.info/article/30369/Home Insurance | Spanish Home Insurance | Home Insurance in Spain | Spanish Property | Spain Property | Spanish Real Estate | Spain Real Estate
