Property bargains in Spain
Here we highlight some potential property bargains in Spain.
The property market in Spain has shown signs of recovery from the dramatic crash of a few years ago.
The number of homes sold to international property buyers along the coast is gradually increasing month on month.
Whilst the impending Brexit has dissuaded many British from risking buying, the number of buyers from the Uk remains that largest group.
There are also many buyers from France, Netherlands, Belgium and Scandinavia.
Many purchasers prefer to buy new build properties as their holiday home.
This has led to many of the half finished developments at the time of the crash now having eventually sold.
There is plenty of new construction going on, particularly along the coast, but there lots of opportunities to pick up a bargain resale property.
It is commonly known that many of the banks hold a great deal of properties on their books.
Over the past few years, the banks have been continually repossessing or taking properties back from clients who could not pay the mortgage.
Where to find property bargains in Spain
Many of the banks now have their own estate agency operation to offer their properties for sale.
For instance, Banco Sabadell´s estate agency is Solvia (solvia.es).
This is a good starting point, as Banco Sabadell were hugely exposed following the market collapse, as they lent very aggressively throughout the Costas.
Another of the large Spanish banks, Bankia, has a large portfolio of properties, which can be found at www.haya.es.
Additionally idealista.com and fotocasa.es are both a good source of property listings. Each have a wide choice of properties from agents and directly from vendors.
We have reviewed the present housing stock to give you an indication of what is presently available in some of the most popular areas.
Algorfa, Alicante
This 2 bed 1 bathroom apartment is located on the first floor of a block constructed in 2006.
The property is 72 sq m with an open plan lounge/dining room, fitted kitchen, 2 bedrooms and a bathroom. The asking price is €41,600.
The popular area of Estepona has a wide choice of properties on the market.
A good example is this 4th floor 1 bedroom apartment with a terrace facing the sea. The property is 60 sq m and in good condition.
The price is €74,900.
Denia, Valencia
Denia towards the northernmost part of the Costa Blanca, is an extremely popular destination for holidaymakers and second home owners.
Fotocasa has a 94 sq m apartment close to the centre of the town. The property is in need of modernisation throughout and is offered for sale for €48,000.
Visit fotocasa.es for more information.
Mojácar, Almería
White-washed apartment in popular coastal resort of Mojácar with large terrace.
This is a two bedroom apartment with lounge/dining room, kitchen and bathroom.
The property is around 65 sq m. It does need a little refurbishment and has a lot of potential.
The price has been reduced from €96,300 down to €65,000.
Visit idealista.com for more information.
Dehesa de Campoamor, Orihuela Costa
Fotocasa is advertising a large 4 bedroom terrace property providing 110 sq m of space with a nice terrace to the front of the property.
The property is located 5 minutes from the beach in the Dehesa de Campoamor/Orihuela Costa area of the South Costa Blanca.
At €100,000 the property represents good value for money.
Visit fotocasa for further details.
If you are considering purchasing a property or have found your property bargain in Spain, please don´t hesitate to contact us.
Details of our comprehensive conveyancing service can be found here.
