Segmentation in the Spanish Property Market
- Author Angela Rafferty
- Published May 31, 2011
- Word count 510
Sources say that it was only in the recent past where negative speculations were made about the Spanish property scenario when things around started going in the red, especially real estate in Spain. However, those reviews and surveys were humbug and made no bones of anything in reality. There is and always has been a huge demand for the prime locations that comes dirt cheap in Spain. It is still agreed upon that the prevalence of the Spanish market still takes dominance over the French locales such as Tuscany or even Provence.
Believe it or not there is always a huge demand for Spanish property by investors and buyers alike in most areas in Span and because of the location involved the prices are being questioned and dropping by the stone, no one knows when it would finally stabilize.
Some of the areas which show that prices have stopped falling would be;
Good property in the interiors or the city’s centre which would boast of eminent living and residential atmospheres. The demand here always exceeds the supply, since there are new construction laws in place and there is a limit of area and space as well.
Properties that are lined on the coast of Spain, for example the ones are Marina D’Or based in Castellon are desired, since they are upmarket and fetch good money.
Around the area of Valencia one would find reputed properties and since the estates are haphazardly grown, the houses are all individual in nature and character. The best ones here are the high priced ones and have no competition in the market. However, if a real estate builder throws up similar houses of the same structural built and kind, then the owner who puts the lowest price on his property would be lucky to sell it off.
Talking of the surroundings, who doesn’t want to have a villa with natures touch around? Nowadays in Spain, the laws on constructing and even planning are extremely rigid and strict and if you manage to find a house with all the bounties of nature around, the value of the house grows in leaps and bounds, since the laws do not permit new constructions around foliages anymore in Spain, this means high demand and low supply.
When you settle somewhere, you would obviously look at the communication patterns. How far you are from the city? The mode of transport, public or private? Recreation centres, like parks, shops, cinemas and other facilities or even basic things like schools, hospitals and internet facilities would be looked into. if these are unavailable then don’t expect the property value to be high.
Finally, in areas where old buildings are available, one wouldn’t find the same construction around Spain anymore and if you go for old building which need renovation, the prices would vary, since each is individual. In Asturias which is in the northern part of Spain, the prices shoot sky high and the demand is huge from foreign investors, while Costas doesn’t have the same story.
Angela Rafferty is an employee of Owners Direct Spain - an online resource for buying and selling property in Spain.
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