Fincas and Country property - Málaga Property

News - April 2010

The market shows continued signs of improvement

Ok, so the market is improving. Don’t jump up and down saying “well he would say that wouldn’t he!” because the reality is that we, at Torcal Estates have always offered a very balanced approach to the property market – good and bad!

But facts are facts and we can’t ignore them. So far this year, Torcal Estates has seen a 100% increase in offers being made in the year to date. So far in 2010, we have seen a total of 12 offers being made compared with 6 during the same period in 2009. Now, if that is happening across the board then that must mean that there is a shift in the public’s view of the Spanish property market.

Prices have come down significantly from the peaks of 2006 and 2007 and this now means that people can buy a property for a 3rd or half the price that they may have been paying in the recent past – that’s some saving when we are talking ten’s or hundred’s of thousands of Euros.

It looks to us like we are experiencing a traditional seasonal market – activity increases in spring and autumn and drops in the heat of summer and over the worst of the winter months.

What is interesting (and this may well be specific to Torcal Estates) is that we have a diverse mixture of nationalities viewing and buying – English and Dutch of course but we also have German, Danish, French, Belgium, American, Maltese, Polish, Ukranian and the odd Russian buyer (although they tend to have all the cash in a suitcase which makes viewings impossible!).

The reason for this is twofold – the prices in Spain have come down to a level which is now encouraging new interest and for the majority of Europeans, the fluctuations in the Euro/Sterling exchange rates are irrelevant.

Torcal Estates advertises on various property portals (in addition to the website www.torcalestates.com) and many of these portals are available in many foreign languages – this means that you can be appealing to many different buyers across the globe just by instructing Torcal Estates.