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Spanish property prices hit six-year low

1.00am 16th April 2009 - Property

Now is the time to buy a new property in Spain where some prices in resort, village and beach locations are at their lowest for six years but are tipped to rise significantly in future years.

That is the message from the Cheltenham-based Almanzora Group which is selling properties in the Almeria region of south-east Spain. Developers of the resorts it is promoting have responded to current market conditions by reducing the prices of some properties to levels not seen since 2003.

Says Bridget Rosser, the company’s sales and marketing manager, “Over the years, the property market in Spain – especially the ‘investment’ market – has proved to be extremely cyclical, much more so than it is in the UK. Therefore it offers much greater and, in reality, more obvious rewards to those who take timely and thoughtful advantage of it.
“Although setbacks must occur, just as they do in any economy and in Britain, I predict that the overall market in Spain and in its coastal provinces will recover in due course to even greater values, undreamed-of at the height of the previous boom.”
Bridget says that this is because, despite the credit crunch and the current downturn in confidence affecting the immediate market, powerful underlying trends ensure that potential demand continues over the longer period. “Government moves to stimulate lending are welcome news for buyers,” says Bridget.

The Almanzora Group has announced across-the-board reductions ranging from one-fifth to almost one-third – 20 per cent to 30 per cent – off the prices of the properties it is selling in well-established developments in Almeria.

In addition to Desert Springs – Europe’s only international award-winning luxury family resort and championship desert golf course – they include the traditional fishing village Villaricos and nearby Playa Marques, known for its seven kilometre long Great Sandy Beach, El Playazo. The properties range from apartments, townhouses and cottages to villas, beach houses and country houses.

For more information call The Almanzora Group on 01242 680299 or visit the website, www.almanzora.com

       

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