subject: Spanish property prices are now at prices of 10 years ago [print this page] Spanish property prices are now at prices of 10 years ago
The Marbella property market has certainly seen some highs and lows, I have lived on the Costa del sol for the last 15 years and I remember when I first arrived I met an elderly gentlemen who was living in the same urbanization as me and we were enjoying the view together we started talking.
He made a comment that has stayed in my head for the last 15 years, I will never forget what he said to me s (I have been living here for the last 30 years and I have seen this place the Costa del sol pronounced officially dead, and then brought back to life 3 times) well I guess this is the 4th Time, that the Marbella Property market is seeing downturn
What this shows is that all property markets have cycles and we are now at a low point in the market, in my opinion we needed this correction in the market, as property prices were getting silly, of course all fuelled with borrowed money from the banks.
Flooding the market with any product makes prices drop! Spanish builders fought to buy land and build any where they could; several kilometres inland from the coast on the Costa del Sol there are 1000s of new built properties that will remain unsold and unrented for some considerable time to come.
Here is another Comment that has stayed with me for many years; Beach front property will always sell Location location location.
Beach front or beach side properties have held up very well in the recent crash, As buyers who have sat on their hands and observed for the last few years waiting for the right time to buy a property in Marbella are now having a field day with so much available stock to buy, Beach front properties have a high demand and remain the best Investment, This goes from any International real estate market not just Marbella Property market
One thing we have in the Costa del Sol is sun, that will never go away and Marbella is still one of the best places in Europe to buy a home in the Sun, and is the easiest place to get to to have guaranteed weather
Property Tips for buying in the Costa del Sol
1. Stay as close to the beach as possible these properties hold their values more than any other
2. Make sure that the community fees are realistic some communities can charge hundreds a month this is like having another mortgage
3. Check that the community does not have debts in times of crisis some owners don't pay this can cause problems
4. Ask you lawyer to do a full due diligence and make sure that the property is in the general plan and fully legal with an occupation licence.
5. Make sure that you have a parking place included in the price lately some owners have been selling parking places off separately.
To find some great deals for a property in marbella
Anthony James
Thinking of buying a Property In marbella Contact us today we have some great Beach front property at great prices
