Whilst sales to 'residential tourists' are down a mammoth 89% on the Costa del Sol, Mercers is flying in the face of this trend beating last years' sales figures. And the secret is simple. Offer bargain property that's hard to resist, like a two bedroom terraced villa on a golf course for 55,000 euros – oh and it's furnished…
Director of Mercers' Mazarron office, Gerard Rees, comments, "It seems that our property price bracket has captured the moment and allows holiday home purchasers to truly beat the credit crunch. Whilst the investors have all-but vanished, lifestyle buyers are still out there and a golf-front furnished property within ten minutes of the beach for as little as 55,000 euros, that's around 47,500 pounds, is hard to resist.
The climate, ease of access, modern infrastructure and so on, all mean that in time Spain's property market will bounce-back, so right now it's all about taking advantage of the crunch and the reduced prices. What's more, with monthly payments at today's rates on a 55,000 euro 20-year term mortgage around 300 euros per month interest-only or 400 euros per month repayment, it's a manageable outgoing for the privilege of a place in the sun."
With the current economic climate putting pressure not only on individuals who need to release some capital but also on developers to shift unsold stock in order to keep the banks happy, Mercers has negotiated a wide range of below market value property across the Costa Cálida and also from their Jerez-based Costa de la Luz office.
And, with an impressive 25 years experience in selling freehold Spanish properties, Mercers has formed special relations with developers and can quite often achieve below list-price on a clients' behalf. Don't let the recession wipe the smile off your face and take advantage of the optimum time to buy in Spain.
