Spanish villas and apartments still affordable
Tailor Made estate agents Spain
real estate, property, estate agents
Are you still thinking about a home in Spain
Spanish Villas and apartments are affordable and getting cheaper as the Pound strengthens against the Euro. People often ask me is it still cheap to live in Spain.
Of a morning before starting work my day starts in the Sotogrande Port with a cup of coffee and a very good coffee it is not bad for 1.50€ when its almost double that in Britain. Then in the same waterfront marina a glass of good Rioja red wine still only costs 2.79€ yet I paid £5.80 for similar measure in a local pub back in my home town of Poole Dorset.
Like most of the world fuel is dropping Spain also has a lot of duty on fuel yet this last week fuel was down to 1.01€ per litre. In many restaurants you can still find a menu del dia 3 courses with a drink for 10 euros
One thing I do notice is that clothes cost more in Spain as they do not tend to make the same discounts as in the UK having said that I look forward to my return to Poole & Bournemouth when I stock up on bargain clothing.
For the Brits who live in Sotogrande Southern Spain a slice of Britain isnt very far away 25 minutes infact. Gibraltar is on the doorstep and my wife seems to enjoy a weekly trip to the rock when she stocks up on all things British including food from Morrisons.
Property has remained low in price although much of the developments that are too cheap were not worth buying in the good times let alone in this recession. However if you have the right agent who knows the areas and is honest then you can be guided into some very nice locations where bargains do exist.
The rule of thumb is the nicer the location the fewer bargains you will find after all rich people live in wealth locations and the wealthier you are the less likely you are inclined to drop your price to bargain levels.
The villa pictured would once have been valued at 2.2 million euros and is now on the market for 1.45 million. Recently I sold a waterside apartment that was once valued at 790.000,00 euros and has just exchanged contracts for 310.000,00 euros sold with a berth thrown in for free.
The market has become busier and we have seen a new influx of Brits arriving with money to spend the fact is that the bargains have been selling and now there are a lot fewer of them. In Sotogrande its a trickle feed of property. There are a lot of over priced homes on the market in wealth areas a reflection of the low interest rates and wealthy people able to hold on to the property hoping the market will change at some point when the price they want will be recovered. Estate Agents put the property on the books and arrange viewings most of the time simply using the house or apartment as a marker stick to show how real the bargain property they initially inquired about still is a great buy.
In the most upmarket of areas such as Sotogrande its often a question of timing whether you will be arriving at the right time. Last month a client who had seen 3 houses he would like to view arrived only to find that all three had been sold. They were simply the three properties that every agent in town was trying to sell in the previous month. Once those and been bought agents are once again anxious to find an owner willing to take a hit. Time is ticking and bargains are fewer maybe in another 9 months the market will see a price adjustment in buyers thinking. Buyers will soon be arriving and then leaving having to rethink their budgets. Mentally they will need to adjust to a new tier of prices caused by the simple fact that demand is starting to outstrip supply for the first time in 7 years. Tailor Made estate agents are very much aware that for people looking to visit in months rather than weeks any bargains they will have seen are likely to have sold by the time they arrive.
The market is on the turn but there is still opportunity
Tailor Made real estate agency
, estate agency
, estate agents
, Francis Payne
, real estate
, spanish villas