Home > Overseas Property News

Spain market bottoming out?



Country:  Spain

4 June 2009

Astonishingly, Laura Nicoll, director of Iberian International, believes that it is only a matter of time until there is a housing supply shortage in Spain, in spite of the fact that there are currently over a million homes lying empty in the country.

Some experts’ project that the volume of homes built in Spain could fall to under 200,000 annually, within the next couple of years, to help absorb the current oversupply of homes on the market. But surprisingly, Nicoll believes that this will translate to an “inevitable supply shortage in the coming years”, which will cause an “increase in property prices.”

Nicoll says that property in Spain has now reached the bottom of the market, and that prices will not fall any further.

“Spain is still one of the world’s top holiday destinations with more than 40 million people visiting each year, says Nicoll. “Housebuilders have recognised this and reduced their prices as low as they can go and we believe we will not see any further [property price] reductions. There has never been a better time to buy a home in Spain.”

However, despite Nicoll’s optimism, the Spanish property market downturn appears to be far from over.
Fresh data from the BBVA, Spain’s second largest bank, estimates that average Spanish property values will depreciate by 10% this year, and by a further 12% next year.

In fact, the bank does not expect prices to start to recover until at least 2012.

The bank also estimates that the glut of homes in Spain could reach as high as 1.5 million units by the start of next year, which is far higher than the Ministry of Housing’s projections.


See Also:   Spain


<< Previous News item
Within Spain
With tag "Spain"
NextNews item >>
Within Spain
With tag "Spain"


Some properties in Spain

Spanish Farmhouse, Andalucia

Spanish Farmhouse, Andalucia

Price: 349,000

Type: Detached

Bedrooms: 5

Please visit http://www.aliciafarm.com for full contact details, photos, slideshows and room plans.
Ideal for anyone looking for a unique property in the Spanish countryside.


Ref PW110304Offer, Polaris World, Spain

Ref PW110304Offer, Polaris World, Spain

Price: €72,543

Type: Apartment

Bedrooms: 2

UNIQUE OFFER. Upper floor, two bed one bath maisonette with 54 metres solarium, in Condado de Alhama, Murcia.


Ref RM5100917, Riomar, Spain

Ref RM5100917, Riomar, Spain

Price: €75,000

Type: Bungalow

Bedrooms: 1

South-facing, furnished, upper floor, large (50m²) 1 bedroom maisonette with spectacular views over the pool and gardens, in excellent condition and in a very beautiful complex.


RLE103, Turquia, Spain

RLE103, Turquia, Spain

Price: €76,740

Type: House/Apartment

Bedrooms: 1

Crisp clean lines are the inspiration behind this project with each property meticulously designed by leading architects Eren Talu, renowned for the superb Hillside Su Hotel in Antalya.


Ref PL5091011, Pueblo Latino, Spain

Ref PL5091011, Pueblo Latino, Spain

Price: €79,000

Type: Apartment

Bedrooms: 2

Very attractive, furnished, 2 bedroom, second-floor apartment with a sunny, south-facing terrace with a seaview.


Ref RM5090306, Riomar, Spain

Ref RM5090306, Riomar, Spain

Price: €79,000

Type: Apartment

Bedrooms: 1

Quite recently-built, fully furnished and equipped, east-facing, 1 bedroom, third floor, apartment with beautiful pool and gardens, and storage-room. A delightful, quiet location with panoramic views over the surrounding area and to the sea.


Ref PWAL110304(OFFER), Polaris World, Spain

Ref PWAL110304(OFFER), Polaris World, Spain

Price: €79,710

Type: Apartment

Bedrooms: 2

UNIQUE OFFER. Ground floor, three bed one bath maisonette with 44 m² of terrace and garden, in Condado de Alhama, Murcia.


Ref RM5100730, Riomar, Spain

Ref RM5100730, Riomar, Spain

Price: €80,000

Type: Bungalow

Bedrooms: 1

Well maintained and completely furnished, 1 bedroom, east-facing, ground floor maisonette in a very attractive and popular development, with an enormous terrace and wonderful panoramic view through the trees to the sea.


RLE102, Turquia, Spain

RLE102, Turquia, Spain

Price: €80,658

Type: House/Apartment

Bedrooms: 1

Turkeys first residential golf resort. An 18 hole golf course just outside the popular holiday town of Kusadasi with stunning sea and mountain views.


Ref RM5080417, Riomar, Spain

Ref RM5080417, Riomar, Spain

Price: €90,000

Type: Bungalow

Bedrooms: 1

Extremely well maintained and completely furnished, large, 1 bedroom upper floor maisonette in a very attractive and popular development with a wonderful panoramic view to the sea and over the pool and gardens.


featured properties

Prices from: €355,000

Bedrooms: 2

Luxury townhouses in the centre of a world class, championship golf course.

More