Costa del Sol Property Buyers Need to be More Realistic
04 Mar 2010
Spanish Hot Properties are extremely concerned at the recent unreasonable expectations of property buyers looking to buy property in Marbella and Costa del Sol but can understand that the problem is not been helped by the message being sent out by certain property portals and some real estate companies to try and get more clients for there agents and more buyers for there business in difficult times.
Nick Stuart Managing Director of Spanish Hot Properties says “Recently we have seen clients really believing they can buy a 4 bedroom house in Costa del Sol for €70,000 Euros and its about time that certain companies who are sending out this message to attract customers stopped this as it isn’t doing the industry as a whole any favors and leads from some property portals are generating customers who believe this is the case and it certainly isn’t. Lets get one thing straight whilst the best deals have already been bought in 2009 by proactive decision making property buyers there is still very much property bargains out there but the reality is you need a starting budget of at least €150,000 and in reality €170,000. Yes we have product at €110,000 but the reality is that very few people buy it, because it is very much at the bottom of the market, and if that is your budget you should really be looking in a different area to Costa del Sol & Marbella. The interesting thing is we don’t have this problem with our wonderful Mallorca property clients who fully understand the price of property in that market”
So are there really any property bargains out there or is it just a fabrication of Spanish real estate companies? “Yes there are real property bargains out there some discounted as by as much as 50% but most importantly you need to be looking at €165,000 to €220,000 to take full advantage of the Costa del Sol property market. Also Customers have to be realistic about where these wonderful properties are going to be and as usual location is everything and Prime location has its price and that is well over €300,000 plus” explained Nick further.
So what does the market hold in 2010 for the realistic property buyer “the last chance to take advantage of the Spanish property recession in Marbella and Costa del Sol” according to Nick. Time will tell if this is the case but right now the message being sent out from Spanish Hot Properties is that if you don’t have €150,000 Euros plus to spend in Costa del Sol look elsewhere and if you don’t act in 2010 its something you may regret for a very long time
For those wanting more information about Marbella and Costa del Sol properties they should contact Spanish Hot Properties by phone or email.
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