What Spanish Property Crisis?

August 21, 2008 in Buying Property During the Crash by admin | 2 comments

For those of us who live in a cave (like me) the Spanish Property Crisis may have passed us by. We’re enjoying ourself, have enough money and don’t listen to the doom and gloom on the news.

Whilst we’re not unconcerned for those people who are having a difficult time, it’s just not affecting us right now.

In fact, many people in this category are still considering buying and find the current climate great for bargains.

Sound like you?
Let us know below in the comments.
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  2. thisisspain’s avatar

    thisisspain on October 17, 2008 at 1:45 pm

    I am just back from SImed (5º Salón Inmobiliario del Mediterráneo) in Málaga. This is “supposedly” the BIGGEST property show in Andalucia.

    1) There were literally as many exhibitors as visitors – 2/3rds of the venue was not even filled with stands. They abandoned the registration process and just let anybody in at no cost.

    2) Most promoters were having to do rent with the option to buy deals – yes, you can rent a property for up to 5 years and deduct 100% of the rentals back against the purchase price (which they can of course, get you a mortgage on)

    Without trying I was also offered a “Minimum” of 3 months rent-free and for it to be fully furnished including white-goods. The lady also offered me a free 42″ plasma TV and, if I needed, even crockery, cutlery in fact everything if I paid the deposit this week!

    Well, that’s “normal” selling I guess but listen to this

    3) Salsa are GIVING AWAY a free house wth everyone that is bought!!!

    Yes, buy a home at Miraflores del Palo and they will GIVE AWAY a free home at Los Llanos de Baviera Golf in Torre del Mar!!

    This IS getting serious – I am SURE that the Costa del Sol will bounce back BUT it’s going to be a LONG time with so much housing stock now available.

    This is the most concrete example I have seen of the crash here in Spain. Fortunately “real spain” is holidng up much better than expatshire.