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Property Price Drop

It is definitely a buyers market in Spain as confirmed by Property valuation company 'Tinsa'.

The real value of property on the Costa Blanca has plummeted by 6.2% over the past year, more than 2% points above the National average.

Property experts say that anybody having their property valued now will find that in real terms its value is much less than they may have expected. Property values have been falling steadily over the past six months. Many experts are predicting that this will continue over the next two to four years and may wipe up to 30% off the price of some properties.

 For the vendor on the Costa Blanca times are even more difficult with plenty of new construction being heavily discounted. It is important for the vendor to ensure that their property achieves maximum exposure and that it is priced realistically.

It's not all doom and gloom in that buyers purchasing now can expect to see a good return on their money within the next 5 to 7 years probably returning to near the levels of 2002 where property prices were rising by 21% per annum.