We just received a property for sale in Spain enquiry that just compelled me to write this blog and just illustrates why UK citizens are missing out whilst the rest of the world takes advantage of the Spanish property market.
To quote the buyer on a property that is on our site for 1.25 Million Euros, the clients proposed to pay 200,000 Euros Cash for the property. I suppose if you don’t ask you don’t get but it does show the ignorance of a lot of perspective buyers from the UK mainly being fed from the uneducated UK Press.
The reality is for these would be buyers the best deals were bought last year in the Golden triangle of Puerto Banus, Nueva Andalucía and Marbella or other similar prime location areas in the Marbella property area.
The first example is La Zagaleta where all the great deals between 2 Million and 3 Million Euros have now been taken from the market. So now you will have to pay closer to 3.5 Million Euros for a property you could have bought last year.
Another example is a very good client and friend of mine who bought in a development close to the beach in Puerto Banus for 399,000 Euros. Now the least expensive unit in this development is selling for 525,000€ so in reality my client could actually sell his property now for a profit.
There will always be exceptions to the rule but the reality is that the best deals are in the past and every month that goes by the more likely it is that your property in Spain will cost you more not less.
That is the reality of the market but unfortunately the majority of UK Buyers seem not to think that’s the case mainly fed by the UK Press.