is said that more than one and a half million homes for sale in Spain. Most of these are unsold homes on the coast but there are enough around large cities. Prices have fallen sharply but sales remain low in many cases because banks do not lend money to almost anyone.
It is therefore essential to find a house or flat that is well priced and being, what is called in banks, a good customer. To find a source of cheap properties worth you looking at selling the British group. Not everyone bought a second home on the coast. Many of them bought an apartment in the big city or a house within 30 minutes of a big city and now want to sell. The asking prices are typically 20-30% below asking prices people in the euro area because when they bought the pound was between 1.45-150 Euros and is now around 1.10 euros. Why offer the lowest prices then? Well, if you buy and invest 200,000 pounds in a house that cost 300000 Euros can now sell at 220,000 Euros to regain pounds. If you took a mortgage, the situation is different but as a rule of three works.
In the region of Valencia I have many British people who sell at prices far below the average price, check out http://www.valencia-property.com/index_es.php and see.
The video is of a flat Ruzafa that comes with garage and can be purchased at 160000 Euros.
What do you think of this market?
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