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August really is beach time – that is if you can actually get on the beach and anywhere near the sea! I remember our first August in Spain and I was open mouthed at the number of people on the beach, ten deep, with brollies touching!
This is a difficult time for anyone looking at properties. The agents find it incredibly hot and exhausting and the potential clients wilt in the midday heat – roll on cooler September and October. We tend to see July & August as the quieter months in the housing industry, but it is the time we see many more Spanish enquiries.
Enquiries overall are up around 20% for the first quarter of this year compared the same time last year and this must have something to do with clients realizing that now is the time to buy, as prices will only remain this low for another year or so. There are a number of 90 – 100% financed properties around, all you need is around 10% + tax, so if you are thinking of investing, now is the time to give us a call.
The Costa Cálida is on average 29% lower than house prices throughout Spain. This doesn't sound good, but, having said that, it seems to be bringing in the clients and with the exchange rate strong for those wishing to take their money back, it is a good mix.
The average house price in 2008 before the big crash was €216,000 now we are looking at €165,000. Let's hope at the end of the next quarter we will see a slowing down in reduction of house prices.
The average cost of a 2 bedroom property at year end 2010 was €139,000 with a 3 bed at €202,000 and a 4 bed being €280,000. It will be interesting to see the difference at the end of 2011. Interestingly the average for Spain was €159,000, €249,000 and €380,000 respectively.
That's all for this month so bye for now and enjoy the sun!
For more information on buying or selling property contact
Jennie or Sue at
Email
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or telephone (0034) 635 434 651 or 646 692 471 |
