Struggling to sell your Spanish property?
If so, don’t feel overwhelmed if your house has been on the market for several months with no buyers. There are many people across Spain facing the same problems. One problem that sellers have come up against is that their local agents are no longer there! With the recent credit crunch and issues with sterling falling against other currencies, many agents have simply shut up shop, leaving their vendors ‘lost’ for what to do.
So, what can you do? Well, first let’s look at some statistics. The latest index of property prices in Spain shows that they have plummeted over the last 12 months with those on the Costas falling at almost double the national average. Prices on the Spanish Mediterranean coast fell by 8.3% over 12 months to the end of August, according to figures just released by Tinsa, one of Spain’s leading appraisal companies.
This compares with an average drop of 4.6% for the whole of Spain. The figures cover both newly built and resale property prices, but do not take into account consumer price inflation. So making an adjustment to include consumer price inflation, which was 4.9% in August, in real terms coastal property prices have fallen by 13.2% over 12 months and those for the whole of Spain by 9.5%.
Posted on: Wednesday, October 28, 2009 at 4:10 pm 
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