Property Investors In Spain To Have 'plenty Of Room For Negotiation'
Property Investors In Spain To Have 'plenty Of Room For Negotiation': "People investing in the Spanish property market will have plenty of room for price negotiation due to the 'glut of homes on the market', it has been suggested.
According to a comment piece by A Place in the Sun, the Channel 4 property programme, the annual Spanish Property Market Situation report by consultants RR de Acuna & Asociados has predicted that it will take at least four years for the estimated 1.5 million Spanish homes on the market to be sold.
It therefore suggested that the oversupply of both new and distressed properties would work in the favour of investors as prices come down in an attempt to encourage sales.
'The Spain property report suggests that there are around 683,000 unsold new build properties in Spain, of which 473,000 are completed and 210,000 are still being built, as many as 720,000 resale properties, along with 200,000 properties listed with the banks,' observed A Place in the Sun."
:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
According to a comment piece by A Place in the Sun, the Channel 4 property programme, the annual Spanish Property Market Situation report by consultants RR de Acuna & Asociados has predicted that it will take at least four years for the estimated 1.5 million Spanish homes on the market to be sold.
It therefore suggested that the oversupply of both new and distressed properties would work in the favour of investors as prices come down in an attempt to encourage sales.
'The Spain property report suggests that there are around 683,000 unsold new build properties in Spain, of which 473,000 are completed and 210,000 are still being built, as many as 720,000 resale properties, along with 200,000 properties listed with the banks,' observed A Place in the Sun."
:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
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