Spanish Property Market Report | Q2 Update 2015 indicates slow buyers missing out
A dip in demand at the beginning of the current Q2 2015 recovered within weeks and has now soared away, as more Europeans have detected prices are beginning to rise and there are shortages in prime Costa locations.
Six month sell-out periods, that were the norm in 2014, have now shrunk to six weeks and slow-to-move buyers have found SOLD OUT signs when they arrived at their chosen development offering brand-new, key ready homes at peak to present discounts averaging 44%.
Some would-be buyers did manage to get in quick-fire offers, but were often outbid by more determined rivals or were kicked into touch by the vendor bank because they didn’t have the essential Spanish account, NIE number (fiscal ID legally required for property purchase and utility hook-ups etc). Delays in processing mortgage applications also resulted in lost bargains for many would-be buyers.
It is now possible to get a Spanish bank account opened, NIE number ordered and a mortgage pre-approval before leaving home to view in Spain. Being prepared puts buyers on the inside track for the best properties – as they tend to sell first.
International brokers, Walker Property Spain have quality new homes from Spanish banks priced from €37,000 in Costa Blanca south and the Best Buy Bank deal in a decade has 3-bed townhouses for €81,000 and 4-bed, sea view townhouses at €150,000 all in Fuerteventura.
Launched this week, with similar deals, they are risk-free, fully legal and key ready for Fly to Buy inspection by cosmopolitan buyers – with all paperwork in place for more certainty!
Spanish property market report 2015 update | Author: Walker Property Spain