Used Spanish property will not go lower Real estate experts said. The Professional Association of Real Estate Experts (AOSIS) ensures that the price of second – hand Spanish property “will not go lower” and that the trend will be to “stay at the same level or even increase , “especially in areas where housing is scarce since “there is very little new construction” According to the president’s association opinion, this is a good time to buy a home in Spain.
In addition, the president of the association advised not to sell your house, unless necessary to move house, but remember that if you sell cheap, buy cheap.
Experts believe it is a good time to buy housing and the uncertainty could delay the recovery of the sector, but will not stop it.
The Professional Association of Real Estate Experts also assured that second-hand Spanish property will not go lower.
This was stated by the president of the Apei, who notes that two years have passed in which the market is “moving” and “it shows that the rise in prices is widespread.”
According to the latest Eurostat data, housing prices in Spain rose 6.3%, the highest rise since 2007, and 4% in Europe. “There is not much new construction and this will push up prices further,” predicts Martinez, who considers it a “good time” to buy.
In this sense, it predicts that the second hand will no longer fall further and the trend will be to “stay at the same level or to rise,” especially in places where housing is scarce because there is “very little new construction” like in Marbella and most areas of the Costa del Sol.
It also advised not to sell unless necessary, since “it is true that if you sell cheap buy cheap, but if you think investment is not time to sell. Now it’s time to sell if strictly necessary to change housing, example”.
The recovery will continue at a “slow” pace
In general, housing with good condition have higher prices than in 2013, when prices were reduced by 45% relative to the top of the housing bubble in 2007 point, according to Apei, which currently brings together a network of some 1,300 estate agents throughout Spain.
The average price of private housing per square meter is slightly around 1,600 square meters euros, compared to 2,085 euros in 2007, very similar prices to that recorded in 2004, according to INE.
“What is below these prices corresponds to product not very interesting,” says the president of the Apei, who also mentioned that “the property in very bad location and poor quality is sold or attempted to sell very cheap.”
The investment funds have been investing in the big cities, like Madrid and Barcelona and also in the best areas of the Costa del Sol, such as Marbella, Estepona and Mijas Costa, but not recorded in small capitals yet.
Moreover, Martinez believes that, after the summer, and if unemployment continues to fall, the recovery will continue, albeit at a “slow” pace, but warns that the threat is now in political instability. “If insecurity persists, cause delays in the recovery,” he predicts.
British property owner selling their second home in Spain
Another trend we are noticing is the one caused by the Brexit, where most of the recent property listed for sell, has been offered by British owners.
The British future uncertainty has brought new properties to the market. From Exclusive villas to nice apartments have been recently listed by many estate agents in areas like Marbella Golden Mile, Sierra Blanca and Nueva Andalucia.
If you are interested in selling your property in Marbella or the Costa del Sol please do not hesitate to fill the form on Contact Us or give us a call on +34 952 811 010 Today! if you are interested in purchasing a property in Puerto Banus or fancy checking for the latest property listed in Marbella, do not take too long, as the high demand for Marbella luxury property and the Costa del Sol, keep pushing the prices higher and higher every month.<< Brexit Meaning to Expats in Spain