Official figures point to Spanish property recovery
Maybe it’s the pound’s 18-month high against the euro or maybe it’s a belief that Spanish house prices cannot fall much lower – whatever the motivation, property sales in Spain are on the up.
June data from the College of Registrars showed a 7.04% increase for quarter one 2010 over the same period in 2009, and a 16.28% increase from the final quarter of 2009. Like the pound, these figures represent an 18-month high for volume of sales in the Spanish property market.
Chris Mercer, Director of Costa Cálida based estate agents Mercers, has experienced the change of fortune, “We can reveal a quite spectacular increase of 157% for quarter one 2010 over quarter one 2009 and, based on the number of enquiries we’re receiving, feel optimistic for the rest of the year. It seems that would-be Spanish property buyers are fed up of waiting in the wings and now want to make the most of a soft market.”
Housing portal Rightmove also saw some great results for Spain in May. The country topped their enquiry list and showed confidence returning to British buyers. However, according to the College of Registrars, home purchases by non-residents for quarter one 2010 accounted for only 4.24% of transactions (5,000 homes) of which the Brits took the largest chunk at 31.49% (1,574 homes). This isn’t going to clear the massive oversupply of holiday homes overnight, but at least sees an improvement on 2009.
Chris agrees, “All of our sales are currently price driven. Mercers’ audience is now mainly British, split evenly between retirement and holiday homes, but we are seeing a big increase in enquiries from Spaniards, in particular those from Madrid after a bargain holiday bolt-hole. And, with two bedroom homes on Camposol Golf priced from 55,000 euros, that’s 45,000 pounds, a bargain’s exactly what they get.”
On the market in Costa Cálida:
FOD 62, Fortuna Villa, Camposol, Mazarron
Phenomenal bargain. A three bedroom one bathroom property of 89m² set on a plot of 350m² with private driveway and plenty of room for a swimming pool. In a quiet location on Camposol Golf resort, the home is fully furnished to include white goods, has satellite TV and a log burner. Blue Flag beaches at Mazarron are within a 15 minute drive.
Price – € 69,950 euros (£ 58,278 gbp)
Mercers has a number of very motivated vendors (property featured on spanishproperty.co.uk) who will accept 5,000 - 15,000 euros less than the advertised asking price for a quick sale. Pick up the phone and discuss with Mercers today.
For more information, visit spanishproperty.co.uk.
