Huge Backlog of Unsold Properties to be had in Spain

Huge Backlog of Unsold Properties to be had in Spain

With so much talk about the Irish property market, isn’t it great to hear that at this moment in time there’s probably no worse property market in the world to be looking at than the Spanish one.

In summary the property market there is pretty crap at the moment. Buyers have vanished and mortgage finance … is desiccated. But if you are looking for a long term investment then here might be your place. You have a choice of buying one of the many developments that are up for sale at a fraction of the original selling price or move inland away from the sea like many other potential investors. Many are heading towards the city where the buy to let market is beginning to pick up.

But Beware! As with economic downturns of other countries a large number of construction companies in Espania have gone belly up leaving several investors with partly finished properties.

There are 4 comments for this article
  1. martin at 9:59 pm

    This blog should read; Huge Backlog of Unsold Properties to be had all over THE WORLD.

  2. John at 3:14 pm

    Thats difficult Feda as I know several people in the same position who invested not just in Spain but across Europe. These wouldn’t be risk takers either but were just looking for a reasonable return.

  3. feda at 9:22 am

    Property prices in Spain are plummeting. Interesting post as it confirms that the market is falling. I am trying to sell my house in the Costa area for a year and while I have had several offers they are all way below the asking price, which I can’t afford to take.

  4. John at 5:03 pm

    Unless you own an invesment property there!

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