top end homes to appeal to brits buying property in spain
News Article Date: Monday 29th of June 2009
Paul Bradley, a spokesperson for the Spanish Property Owners Guild suggested that second-hand, upmarket properties are catching people's eyes as their prices begin to stagnate and wealthy consumers are able to take advantage.
"I forecast that demand for these will slowly increase as the market comes back in the UK, with prices for this sector only moving when more than one buyer shows an interest in the same property," he commented.
He added that stories about consumers buying offplan properties and finding they have no water or electricity are becoming rife.
"'Buyer beware' will apply for many years to come on new properties," Mr Bradley warned.
According to Currency Index, the average two-bedroom apartment in the Spanish Costas has fallen by 30 per cent in the last year, which may be good news for Britons looking to buy property in Spain
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