Summary
Spanish property in some areas has increased by 20% or more per year but not any more. Shrewd investors are taking stock and purchasing cheap Spanish property with a view to a future gain. Developers and promoters are offering massive discounts and offers to buyers to sell properties they may end up paying taxes on if not sold. These offers can be hugh and by playing hardball money in the hand is all the developers want and bargains can be had!
Analysis
It has been well documented that the Spanish property market is in turmoil, crash diving, free fall and other such descriptions but this means that there are bargains to be had. Many developers have realized, maybe a little to late, that they are going to be left with a large number of empty apartments for which they will have to pay taxes and charges. In order to 'shift' these properties quickly many developers and promoters are offering gifts, massive discounts, furniture packages and loyalty bonuses. It can be seen as panic selling but for the buyer playing hardball, superb property can be purchase for little money and subsequently a superb investment for the future. Buy low now within the next 12 months and sell high after 24 months of purchase and the returns should be substantial. Rentals have overtaken purchases for the first time in Spanish real estate history and many investors are cashing in on cheap property and rental incomes in the short term and looking at future profits!
