It's official! Property prices are now more than 30% below peak

Well, this was the official news recently released by Tinsa which provides an index as to property prices and other real estate information across Spain. But really, we ourselves could have told you exactly the same thing more than a year ago.

The problem with the ‘official’ version of facts is the time lag that it takes to get them out into the market, as in fact, we would say that completed sale prices today – against asking prices at peak – are more likely near 40% down from that peak, and we often see certain types of properties selling for 50% below peak today.

What is important, however, is the true picture of when the bottom of the market has been reached. That point, or moment in time, when our buyers all have a certainty that prices will not fall any further. Well, we won’t guarantee that this is a fact across all markets, and we can only talk about certain prime areas of the Costa del Sol, but we certainly believe that in the case of all the properties we are completing sales on at present, these prices will not go lower; we know that we are at the bottom of the market.

Though you probably won’t read that ‘officially’ for a while yet, when you do read it, in our view prices will have already started to begin their eventual rise.

If you are buying, there has never before been a moment or a market like it. But it is incredibly important that you buy the right property, for the right reasons and at that all-important right price.