Fincas and Country property - Málaga Property

News - June 2007

The doom and gloom is lifting!

Since the sensationalist headlines hit much of the British press in May, the realism of the situation seems to be settling everyone’s nerves.

The facts are that Spain remains an extremely popular destination for homeowners, tourists and investors from northern Europe. The recent gloom surrounding the Spanish property market has lifted and the popular press are now offering a more balanced version of events.

A recent article in the Time Online confirms that the worst hit areas of Spain have been along the coastal strip – primarily due to an over supply of properties (rather than a drastic reduction in interest levels) although the rest of Spain carries on with a “normal” market place.

Even along the coast, there are developments which are still selling well, but this tends to be based on the quality of the development, the realistic asking prices for the properties and the overall appeal of the area.

Sadly, there are as many as 100,000 empty properties within the Malaga Province and these are located within the densely populated areas along the coast – many of these will stay empty for a while yet – prices need to be realistic and the likelihood is that buyers will want a bargain if this is the sort of property that they want.

Inland, the market place has returned to normal with some types pf property being much in demand – rural, rustic properties with plenty of land are the most popular with northern European buyers. Generally, buyers are keen to find a property, which is surrounded by about 5,000M2 to 10,000M2, and this is much easier to find away from the coast.

Whilst, buyers are urged to be cautious with any property purchase, the concerns over the Spanish property crash have faded.