MARKET REPORT AUTUMN ISSUE, LIVING SPAIN

MARKET REPORT AUTUMN ISSUE, LIVING SPAIN

MARKET REPORT AUTUMN ISSUE, LIVING SPAIN

I am writing my current masterworks in the relative calm of our air-conditioned offices in the centre of Moraira, on the very brink of Ed's dreadline', in the middle of August the Silly Season'. This is the busiest we have ever seen our sleepy little village; it appears the recession brings bonuses, as well as penalties, maybe many folk cannot afford the long-haul destinations and are now rediscovering the attributes of Spain for their fortnight of guaranteed sunshine. We seem to be awash with visitors from other European countries right now, notably the French and Italians, to this particular area. Happily, this is also translating to a noticeable increase in buyer enquiries, from the Brits, Europeans in general, and surprisingly, a high proportion of Scandinavians. Interest has been so high that we have abandoned any ambitions to follow the example of most of our local competitors who are closing at lunchtime, or for the siesta period, during August we are continuing our normal 10 hour opening.

Once again the clear signal locally is that the death of the Spanish market has been greatly exaggerated! So, in terms of the local property market, where are we at now? We personally are well ahead of last year's sales figures, and a number of other Moraira agents are also performing well.

Who's buying? Still it's the Dutch, Belgians, Germans and French who are reaping the benefits of their boldness, also the Scandinavians seem keen to capitalise on the strength of their currencies, against the Euro; even the English are becoming far more active, but proportionally, they are outshone by the enthusiasm of the canny Scots, who are picking up far more than their share of the buying opportunities. Extravagant claims of local agents and their Russian clients seem to be rarely more than urban myth. Thankfully, when they do materialise they tend to buy around Altea, which suits us in Moraira!

Who's selling? Well the must sell' vendors those who had financial difficulties or serious health issues etc. - have now been bought out of the local market. With their departure, the short-term, opportunistic ghouls touting so-called distressed sales' and property bargain' auctions are also evaporating from the marketplace. Current vendors aren't such an easy touch; they are no longer prepared (or needing to) sell their properties at give-away' prices, nor are they to keen to accept rude offers. There is definitely a keen sense of optimism here in the Moraira area, and this is manifesting itself with a tangible and growing resilience from vendors who, from past local experience, have a very good idea where Moraira property prices will be heading, in the not too longer term!

Conclusion? Check back on my past advice and local market views and you will see that my previous forecasts have proved pretty accurate, whilst the doomsayers have been totally wide of the mark. While others procrastinate, the bolder folk are reaping all the benefits and making the best of current opportunities whilst they are still appearing on the market. I remain convinced there is more to be gained by buyers acting sooner rather than later. Do your research, take good advice, then ACT NOW!

Chris Garwood Partner, SELECT Villas of Moraira, Moraira, Alicante.

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