Why this time of year is advantageous for Spanish property buying

Posted on September 7, 2012 · Posted in Uncategorized

Buying property is all about timing.

A vendor who really needs to sell is really your ideal scenario when entering into a negotiation and is far more likely to lead to a lower price if your information is correct.

As it turns out, the banks in Spain who own properties on sale are in this exact position.

Arriving at the villa

Image by katsommers via Flickr

According to reports banks are already offering properties in popular locations like Murcia and Costa Blanca at discounts of up to 70%, because if they don’t sell before the market shuts down in Autumn they will be stuck on their balance sheets until at least next summer.

This is the last thing the banks want; the properties are expensive to maintain over the winter months, pools have to be cleaned and such like all at the banks’ expense. Worse, it is now believed that Spain will indeed create a “bad bank” to absorb the worse assets in Spain’s banking system under one roof. This is expected to drive down prices, making it in the banks’ best interests to get ahead of the market, drop prices now and save themselves the expensive winter. More Reading at homesgofast.com

At Davenport, we have a range of vetted Spanish properties available which are at rock bottom prices through our free consultation service with full after sales support.