Property Market in Spain
Our current view of the property market in Spain:
Dec 2007
We feel that the outlook for the spanish property market is, long term, very positive given that Spain is still one of the most popular and accessible tourist destinations in the world. However, the recent downturn which we are now begining to see will undoubtedly have an effect over the next year or so, depressing the market further until probably around Qtr 4 2008 or even early 2009 by some estimates. It should be remembered that there can be great variations in the property market in Spain depending on the region.
Currently we favour the Murcia region, an area rich in culture and historical interest. Murcia is largely unspoilt in terms of urban development when compared to other coastal regions and is developing into a golfers paradise with some excellent new golf courses and golf resorts - notably, Polaris world, La Torre, El Valle, Riquelme, Condado de Alhama and other independant resorts such as Hacienda del Alamo, Pereleja Golf, Corvera Golf, Roda Golf to name but a few. The prices in the Murcia region are still very cheap compared to some other regions. On the North Costa Blanca our other current top recommendations are Javea and Denia where we are seeing some quite realistic prices - it is definitely a buyers market and now is a golden opportunity to pick up a bargain in one of these upmarket spanish seaside towns.
In summary, yes the market is slowing down and may slow even further in view of the global credit crunch but if you are buying for your own personal use with not so much emphasis on short term investment then we may have some great opportunities for you. Call or email us to discuss your requirements.
