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Costa del Sol Property: Good time to buy!

The client, who is searching at this time, is in a very good position, as he is finding a big variety of good properties, as he has a strong position for price negotiations and he still can choose calmly. But it could be that the situation is turning soon!

There are first indications for a change of the market situation:

  • Under the pressure of the government, and a brilliant 2008 for Spanish banks, a few banks already have shown more  willingness to give credits to natives and foreigners.
  • The strong decrease of new constructions leads to a stronger demand of the available properties and for this reason to firm prices.
  • Very low interests, lasting insecurity on the stock exchange and a bigger risk with company bonds, let the money flow into the harbours of security, which means gold and real estates. There is less range for further price decline and a secure interest payment through renting or own use.
  • There is a complacency concerning Empuriabrava. The government has signalled that there will be no measures taken in the end. Thus, purchase and sale will continue to be possible without any problem.
  • Since the beginning of this year we have been seeing a strong increase of interested persons through the internet. This shows the tendency that more people are at the moment concentrated on an investment in real estate over here.
  • The usually high number of visitors in the summer will lead to more viewings/sales and therefore to a stabilization of the price level.
  • The worldwide billions which are being pumped into economy of all countries, lead to a stabilization of the big national economies and therefore to more buying power.

Certainly, these are only signals in a market, which cannot react rapidly, as for example the stock exchange can do. We as estate agents here in Costa del Sol  are not only getting the information from the local market, but from the worldwide network and we are therefore able to calculate the situation better. Thus we assume that the bottom will be reached at the end of  spring 2009. So, if you are on the search of a particularly good value bargain, the next months could be the last for it. As soon as the confidence of the sellers has returned, their willingness to adapt the prices will decrease.

Seize the opportunity and you won’t regret it. Our staff is looking forward to presenting you a selection of the most beautiful and most interesting properties.

 
 

Published in Costa del Sol Property News |