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 kyero.com 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 spanishpropertyclub.org.uk, 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.

Sunday, September 6, 2009

Overseas property agents should intensify marketing efforts

Overseas property agents should be accelerating their marketing efforts as the worst phase of the crisis has passed but they have still to make a great collective effort to ensure that the recovery begins as soon as possible, it has been stated.

Liam Bailey, an overseas property expert and director of Write about Property has said that the end of the downturn has been reached, but instead of breathing a sigh of relief and hoping that things will improve on their own, businesses need to take the bull by the horns. Bailey also pointed out the changes that the credit crunch has made to overseas property sales; that more people are shying away from the risk of emerging markets and favoring established markets.

He commented: "The winter months are a great time for overseas property sales, as people look for an escape from the brutal British winter. So now is the time to really step up your marketing campaigns. Potential buyers are no longer taking agents' word for investment potential they are also doing their own research, which I think is a good thing."

According to Paul Bradley, spokesperson for the Spanish property Owners Guild, cash ready investors could find that this is the right time to look at making an investment in Spain. the recent slump in house prices means that many bargains are available to prospective buyers. He pointed out that there are lots of distressed properties around that can be bought at a 30 per cent discount on current values.

However, he added that buyers expecting to benefit from capital growth should consider Spain as a long-term investment market.