Summer sales bargains in Spain
By Sue Brown, 21 May 2008
British buyers, who have been put off buying a property in Spain because of the weak Pound against the Euro during the last year, may find this summer is the perfect time to grab that dream home…
There are falling prices – 3.6% down from last year - bank repossessions, must sell bargains, and a growing number of developer deals in all the most popular Costas, as Spain becomes a buyers’ market for the first time in a decade.
There are also cash saving opportunities for those who have already bought a Spanish home under construction who are making staged deposit payments – they can still buy half of their required Euros now and half at a future date, when the outlook for the rate of exchange becomes clearer.
Some British private sellers on the specialist website, PropertyInSpain.Net are offering British buyers hefty discounts if they pay in sterling instead of Euros as that cuts out any currency losses. Although the sale is registered officially with a Euro equivalent price, the buyer simply transfers the money from his UK bank account to that of the returning vendor, via their respective solicitors.
Owners who have invested significant funds in a completed home in Spain, can withdraw equity and benefit from cheaper Euro mortgage deals; they can also enjoy greater benefits from the Euros they release by converting them into Pounds.
“There are now many new money saving ways for buyers to cash in on the weaker house market in Spain and at same time overcome the problems of the weakness of Sterling and other currencies against the Euro,” said Ben Walker, marketing manager of PropertyInSpain.Net.
“It’s a buyer’s market in Spain, and those who negotiate the best property and currency deals will reap the strongest possible dividends in the future.”
Buyers are attracted to the award winning website where offers are listed daily on online bargain showcases of Spanish bank repossessions, must sell homes from private sellers and developers with key ready apartments and villas offering big discounts, furniture and appliances as incentives.
All can be viewed on the firm’s expanding Fly to Buy plan that includes generous pre-approved mortgages, Spanish bank accounts, legally required NIE Cards, after sales services and the prospect of moving in within 4-6 weeks.
Spanish Bank Repossessions | 'Must Sell' key ready
Property in Spain Information Centre
Spanish Property News Service