So what is the future for the Spanish Property market in Spain as we head to 2011
and when will property prices start to rise again? These are all very good questions and the answers to these questions will differ depending whereabouts in Spain you are buying and if you are a local or international buyer.
Firstly where you buy is the major factor because besides what the international press would have you believe there are some areas of Spain that actually saw property increases this year and incredibly Costa Brava property prices actually increased in this recession, the worst in living memory.
So in this property market Spain if you're going to be looking for a deal in 2011 you will still find a good deal where there is a huge oversupply of property and that happens to be in Costa del Sol and Costa Blanca. However be warned these property deals are what I would call secondary locations and in Costa del Sol for example prime locations have actually sold for more money in 2010 than they did in 2009. Costa del Sol is in reality becoming a two tier or three tier market in one. What I mean by that is it's now very hard to buy a prime location apartment for under 300,000 in Marbella and you're more likely to have to spend closer to 500,000 for real prime location. However in Calahonda you can still buy a two bed Apartment for under 150,000 but not much. This situation is repeated in Costa Blanca where property in Javea and Moraira is more expensive than the rest of the coast
The other factor concerning the Spanish property market is if you're buying an international property or a local property because the local property market is going to take longer to recover and have price increases but most International people wouldn't want to live in local housing. However in 2011 you can be sure that overall prices will cost you more for international property than it would have done this year and certainly 2009.
My advice would be to take advantage of the Spanish property market this year if you are able to.