'Bargain properties as Spanish housing crisis comes to an end'

With Sterling at a 7-year high against the Euro, for Brits there’s never been a better time to buy.

With house prices on Spain’s Mediterranean coast timidly edging up in March – the first increase since January 2008 – last weekend the UK’s Daily Mail newspaper published an interesting article entitled: Thinking of buying a home in the sun? Look to Spain for bargain properties as housing crisis comes to an end. The latest of several recent reports from media outlets on both sides of the Atlantic, it delves into the various factors indicating that the Spanish property market is at long last bouncing back, and we thought it well worth sharing with our readers…

The article succinctly cites several irrefutable facts:

• Property prices on Spain’s Mediterranean coast rose by 0.2 per cent in March of this year, the first increase since January 2008
• Average values across the region have dropped by 48 per cent in the last 7 years
• There are lots of bargains to be had
• Housebuilding in Spain is once more under control, with planning applications for new homes at a mere 4 per cent of the level reached in 2006 at the height of the boom
• Bank stock has plummeted from 1 million repossessed properties to 120,000

And, of course, with Sterling at a 7-year high against the Euro, for Brits there’s never, ever been a better time to buy.

The Daily Mail commented that most British buyers are especially attracted to the Costa del Sol, and not surprisingly since there are still some extraordinary bargains to be snapped up here if you know where to look.

At VIVA, we have properties for sale from under €100,000 (to €10 million or more), and if you’re really looking for a steal, why not take a look at our Residencial Caronte development, where fully-furnished, 2-bedroom, 2 bathroom apartments start from just €112,100!