Bargain buys from Must Sell Spanish homes
By Kevin Barnett, 22 Feb 2008
Despite a recent slowdown in the Spanish housing market, some Brits are still looking to purchase property in Spain, an industry expert has said.
In an interview in the International Herald Tribune, the chief executive of PropertyinSpain.net, Terry Walker, explained that there was a growing number of 'must sell' homes coming onto the market in the country. These are properties which the owner is desperate to sell before it is repossessed.
What's more, these sales mean that some buyers can still grab bargain property in Spain.
"Buyers are much more serious and focused on bargains," Mr Walker explained to the paper. "Sales levels remain higher than might otherwise be expected."
Despite this, Mr Walker advised foreigners against looking to buy cheap property in Spain through public auctions. "Ex-pats will be eaten alive by the domestic specialists who do not welcome outsiders trying to outbid them," he concluded.
Recently, Louise Hall, business director of Primelocation.com, explained that the "good weather, easy lifestyle, good transport links, rentability for income purposes and familiarity" of Spain meant that it remained perennially popular with people looking for second homes.
PropertyInSpain.Net is ranked by Google as the number one website for Spanish bank repossessions and Must Sell property in Spain and offers a daily showcase of such bargain properties.
Sources: Moneyhighstreet.com | Primelocation.com
Q & A on Spanish Repossessions
Spanish Bank Repossessions | 'Must Sell' bargains
Property in Spain Information Centre
Spanish Property News Service