Looking for cheap property in Spain? Keep this in mind!

A lot has been said about the Spanish housing market over the last couple of years. Basically, the market was overheated and the crisis in the united States put an end to this. In general in Spain since 2006, prices have come down by some 20-25%, depending on the area. In large cities such as Madrid, Barcelona or bilbao, prices per square metre are still between 4,000 and 5,000 euros.

On the Mediterranean coast the story is different. Due to regional circumstances, the unsold stock was much larger and the turnover of pre-owned property was much faster. This has brought prices in the area of Murcia and particularly Alicante down, known as the Costa Blanca south, by as much as 45-50% in comparison to 2006.

The Torrevieja area has been the cheapest on the Mediterranean coast since 2008. Asking prices vary widely, but for properties that are actually being sold, the range between 1,200 and 1,400 euros per square metre.

This constitutes an exceptional investment opportunity for cash-heavy investors. The market now offers packages of properties in existing communities or urbanisations at bottom-dollar levels. These are either owned by banks, or by developers who are no longer able to sell them piecemeal.

Prerequisite for this type of deal is a local contact with a more than thorough knowledge of the Spanish business climate and the real-estate market.

Especially certain Spanish banks are not renowned for their ethical approach to real-estate dealings. A new player could easily overlook some of the pitfalls inherent in such transactions. This is where Real Costa Blanca can play a crucial role.

If you are looking for a good deal or in other words cheap property on the Costa Blanca south of Spain do not hesitate to either sent us an email via our contact form or give us a call on +34 965703238.