Property Sales Perspective
There's no doubt about it, with property developers and agents going out of business left, right and centre, and the reluctance of banks to grant mortgages for properties in Spain, these are tough economic times indeed for the Costa del Sol property market.
Having said that, the global recession means that for those with the ready cash and a keen eye for a great investment, 2009 is absolutely the best time to buy in Spain for years!
Property prices have fallen to levels unseen for nearly a decade, with developers, homeowners and agents doing their utmost to attract buyers. So now is your chance to snap up an unprecedented property bargain, and the ideal time to negotiate on price, location and extras on a property that perhaps would otherwise be completely out of reach given 'normal' market conditions.
Although the pound to Euro exchange rate may not be at its most favourable, the cost of living on the Coast is still generally lower than in most parts of the UK, so owning a property here is still an attractive proposition for many people. In fact, recent research by GlobalEdge highlights the fact that Spain is still the most popular country for buyers searching for property abroad.
Spain is also one of the easiest countries to relocate to, according to a recent HSBC study "The Expat Experience", which found that Spain, along with, Canada and Germany were the countries foreign residents found easiest to integrate themselves into.
The study also found Spain as the perfect country in which to raise children, with 59% of parents surveyed saying that their children spent more time outside than back in the UK. The survey also showed that a staggering 94% of foreign children living in Spain speak two or more languages.
Another survey by the Alliance & Leicester concluded that foreign residents in Spain get an average of eight visits from family members and their friends each year.
News like this means that overseas property investors still find Spain a more attractive proposition to move to than other countries.
A spokesman for Taylor Woodrow España was recently quoted as saying "Despite the continued competition from newer emerging markets such as the Far East, Spain has and continues to be one of the most popular choices for those looking to buy abroad."
He added that Spain is a "tried and tested location" and has an established reputation when it comes to property investment.
Furthermore, Shelter Offshore recently said that the falling price of property in Spain could be "fantastic" for UK investors and those looking to expatriate to the Mediterranean country.
Property Sales Opportunity of Spring 2009
With all that in mind, George Thomson, our Property Sales Executive has searched through our wide portfolio of property for sale to bring you what he considers to be our 'Property Sales Opportunity of Spring 2009' and it's this fabulous two bedroom apartment in Estepona with some of the most spectacular sea views on the Costa del Sol.
What's more, the owner needs to sell this property quickly, and has recently reduced the asking price from €235,000 to €160,000.
Here's what George has to say about this property:
"The apartment is set in a peaceful complex of Vista Bahia, close to the local fine sandy beaches near the Casares road, just 10 minutes from Estepona and 5 minutes from the bustling port of La Duquesa. As such, there is a wide choice of bars, beach bars, restaurants and other facilities very close by. The apartment itself has a south facing terrace with incredible views across the Straits to Gibraltar and the North African coastline. The kitchen comes fully-equipped. Whether you're looking for a holiday home or a property to rent out at €160,000 this property is an absolute snip."
If you'd like to talk to George about this or any other property for sale in our portfolio, please call him on +34 952 83 95 95. Alternatively you can send him an email at George@HomeSalesontheWeb.com
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