Do Spanish Property Bargains Still Exist?

A question posed to me recently by a friend of mine on the coast and a very good question it was to. The obvious Answer for Spanish property buyers is yes but not to the level that people from outside of Spain would think.

At the present time the majority of buyers really do want their cake and eat it and it is only the buyers who come to terms with the situation who really end up getting a great deal. A good example of this is somebody wants to buy an apartment in Costa del Sol but needs a 100% mortgage. As all of us know here in Spain if you're buying a resale it's almost impossible to get a mortgage over70% and with costs this means 40% deposit when you need a 100% Mortgage. However in Costa del Sol we have about 6 projects where the bank are prepared to give 100% mortgages as that is what they have outstanding after discounting the price of properties to a level where people will buy. However the majority of clients say I don't want that property I want that one. However the reality is that somebody who wants 100% mortgage has a choice of 6 properties and that is that. The ones that are realistic buy and the ones that aren't don't and probably never will.

The other major point that the majority of clients just can't come to terms with is that there is very little discount in prime location areas and any real bargains in this area were snapped up in 2009. However people buying in prime locations know that their asset is more likely to keep its value in a recession.

So where is the best property for sale Spain deals to be had. Well there are great deals to be had in what I would call secondary locations, i.e. not prime location but in very good areas close to prime location and here you can pick up key ready property with a good 40% discount and if you're looking for a bargain this is where you should be looking.

That's my advice but I would be interested in your views and your own experiences to date

I am Xana Sexta PR and Marketing manager for Spanish hot Properties group of companies and websites and I am responsible for all articles concerning Costa del Sol propertiesand Marbella properties