THE Spanish housing market hots up in September and Idealista property experts are alerting buyers and sellers to get set for a four month ‘gold rush’.
The popular housing website sees 15-20% more activity between September and December than at any other point in the year.
The second half of 2014 saw sales 15% up on the first half.
I’m going to the Place in the Sun exhibition at the NEC tomorrow so it will be interesting to see how busy it is in the Spanish section. Will report back!
Idealista are a sales/rental property portal who make their money that way, unlike R R Acuna and Associates who are independent analysts who say there are 1.6 million properties still for sale in Spain.
Pretty sure not only Spanish but other Med. property sections will be busy due to weather/winter factors as well as misleading sales information, just hope people have their wits about them and understand the 11% transaction costs on top of sales prices. Make considerably lower offers if tempted to view on one of the inspection flights, or better, have a week to think after viewing!
I’ve just moved out here and am actively looking for another property purchase in/ outside Vilanova y la Geltru, from what the agents say the banks still hold huge amounts of reposessed property which are being off loaded at competitive prices while the new builds and desirable part of their portfolio are being rented out in the hope of price increases in the future. As I go around sifting through a lot of run down property caused by unfinished work ( due to the crisis ) neglect, and the intention by a professional band of squatters who rip out anything they can resell. On the whole the big picture is pretty bleak if you want to make a quick buck ……. however picking up that rough diamond and turning it into your dream home will see you right in 2-3 years !!
Just be shure you have ALL the paperwork when buying property….a lot of houses have nice local papers with trumpets and angels on them…but are not registed in the cadastre or are build beyond the permissos …and thus illegal….and no…. getting a lawyer won t really help in Spain…as the buyer is always 100% responsible for any problems…whatever papers you have signed or received…good luck
Hots up? Oh, I guess that is ENGLISH. :)
I finally made it to the Place in the Sun exhibition but arrived late due to the M1 and M6 being almost gridlocked together with traffic cone hell. It didn’t seem all that busy but apparently it really takes off at the weekend. The question is how many visitors convert into buyers? The Spanish section was the largest by far and the exhibitors were all very professional in sharp suits. There were plenty of warnings about using recognised lawyers who were available for advice on purchasing property, tax and residency. The one thing nobody could advise on was the possible (likely?) Brexit, none of them wanted to go there! So is the Spanish property market going to finally take off? I would say the next few months are crucial and the jury is out until the end of the year.