Spanish Property Prices

This revised article is from the Federation of British Estate Agents. \\\"Where now for Spain´s beleaguered property market? Much has been made of the impact of the credit crunch, a correction that many thought was coming anyway, the ugly overdevelopment of some coastal areas, the demolition of illegally-built homes in areas such as Andalucia and the collapse of some Spanish property firms. Yet some will wonder if that is the full story. In one sense it definitely is not, for Spain is still selling property to Britons. Figures from the Association of International Property Professionals for last year showed that the market share of British overseas buys had dipped from 31.6 per cent a year earlier to 25.4 per cent, but this still left Spain out in front as the most popular overseas market for UK buyers. A lot of this will not, of course, have been investment buying. Second home buyers and retirees will have had the same reasons to buy as before, with plenty of sun, sand, sea and golf courses available. Speaking recently in general terms about property markets hit by the credit crunch, Amberlamb director Rhiannon Davies said that \\\"those who buy in very low today and cash in on the financial crisis will reap the dividends over the long term\\\", as an established market in a trough would, because of its string \\\"fundamentals\\\" start to grow again sooner or later. In either case, however, the rationale is the same. Markets like Spain are not dead, just slumbering, meaning that those who buy before the alarm call will stand to pick up bargains that will turn in a healthy long-term profit when the sleeping giant awakes and marches out of the valley.\\\" The property market in Playa Blanca and Lanzarote echoes the above general statement for Spain. Simply put, for those with cash or who only need a small mortgage, it is a great time to buy as nervous home owners reduce their prices for a quick sale. For the best property deals in Playa Blanca Lanzarote, contact Freedom Properties today.

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Date Published: 05-05-2008