Monday, September 21, 2009

Spain offers bargains galore

An expert on Spanish property has argued that now is a very good time to buy in Spain as it has more bargain-basement holiday homes. Many Britons appear to be waiting to see if prices fall further in spite of falls of between 30% and 50% in some areas.

According to reports, Sales volumes in popular holiday home areas have dropped and a backlog of over one million homes are available in some of the country’s most popular regions, including brand new Spanish property in the Alicante area of the Costa Blanca, Valencia and Malaga on the Costa del Sol.

Spanish property is now plentiful due to the surplus of availability as sales have fallen and the fresh availability of some repossessed homes, meaning buyers have plenty of choice. Writing for the Times of the Internet, the market manager of, Steven Clarke said that with prices falling and many sellers offering incentives, this could be a good time to secure a bargain.

Other appeals include the potential income from holiday lettings and advantages in terms of price. Rhona Hutchinson of Integrated Relocation Spain has said that Prices may be 30 per cent to 40 per cent lower than last year, and further negotiation is possible. Further locations recommended for those seeking Spanish property at knock-down prices include famous party city Barcelona and Mallorca for those seeking a taste of island living.

Homes Worldwide has taken a similar view, Noting some of the recent developments in the Spanish property market and said that now is not a great time to sell a property in Spain and it is a good one to buy because of the lower prices currently available.