Spanish Property Bouncing Back?

[News Hound]

02-02-2010 10:00 AM
I know this defies logic, and I'll understand if you decide that I've joined the pundits who only voice a positive spin on the Spanish property market - but, things do seem to be picking up in Spain.


I know this defies logic, and I'll understand if you decide that I've joined the pundits who only voice a positive spin on the Spanish property market - but, things do seem to be picking up in Spain.


Ignore property asking prices and ignore the government data - they're both misleading. Many vendors still have unrealistic expectations about what their property is worth today - and the government data has never accurately represented actual transaction prices.

Speaking with estate agents over the past few weeks, more than a few have reported increased sales activity, and the number of estate agents paying to advertise on Kyero.com is at a 12 month high.

Combine that with an overall 43% increase in activity on Kyero.com, and you'll understand why I say that the Spanish property market seems to be picking up. It's not just me either, several of this week's news stories also paint the same picture.

Learning from German Property Buyers in Spain speaks about how the German economy was one of the first out of recession - making the still-suppressed Spanish property market an ideal place for them to be investing right now.


In Brits Buy As Pound Gains Against Euro, we read that as the Euro slides against Sterling, buyers from the UK might be following suit and looking at investing in Spain again.

There are also signs that the domestic Spanish property market is picking up: New Mortgages Rise For First Time in 18 Months.

Now, let's be realistic about how you can find a competitively-priced property in Spain.

1. Ignore the asking price and haggle hard
2. Investigate new homes direct from the developer
3. Always get independent legal advice

The economy in Spain is still struggling - and will continue to do so for a while yet. Unemployment is still growing, Spain's national debt is still worryingly large, and the country is still in recession. So, take your time and do your own research when buying in Spain.

Martin Dell, Kyero.com



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[davieboy]

Good to hear a positive tone but I think the increased activity on kyero.com must have something to do with the dearth of information now in the UK with regard to Spanish property (as well as the excellent information on kyero.com of course...)
At one point there were loads of magazines - Spanish Homes, Spain, Everything Spain, Living Spain, 0034Spain along with the general titles like Homes Overseas etc.
They all seem to have disappeared and this has to do with:
a) Dreadful state of the Spanish property market as all of the ads that kept them in business were property ads
b) Migration to the internet. People look for facts and figures online and don't have to depend on the whims of editors or advertising dressed up as editorial or thinly disguised press releases masquerading as news.

Buyers have grown up and gone online so whilst it is cheering to hear that there is increased activity in the market that may well be attributed to activity from those who previously bought glossy magazines.