Why buy now?
The Spanish property crash has in part been due to gigantic through development. Yet although most of the development that has caused the problem has taken place on the coastal regions of Spain, the fall in costs continues to be found in inland regions also.
The marketplace has picked up significantly during the course of this season, but crucially, a lot of the property being sold had been reduced by the owner.
Now in London or New York a statement like that would not mean very much, as we are used to falling house costs during a downturn. The Spanish aren’t. During the Franco years, house possession was encouraged and the majority of people owned their own property. Houses were viewed as strengths that had some permanence and so never dropped in value. After Franco the Spanish market was driven mainly by tourism and building boomed. For thirty years the Spanish made money building hotels and holiday homes and never experienced a downturn. Now for the first time, the Spanish people are feeling the pinch. As a consequence property costs are tumbling as never before. A look at Javea property on sale will show you a huge amount of choices.
Where to buy.
When William Dillard voiced his famous quotation “Location location location” he was talking about where to site his department stores, though usually the opinion works for any real estate investment and is particularly so in Spain.
If you buy a property with urban categorization your life will be a lot simpler. The telephone company provides you with a phone straight away, whereas if you buy with pastoral categorization you may wait years for a phone! Urban property will be on primary drainage whereas with country property you might have to to solve that one yourself – likely by having a septic tank. Living in a place like Javea will mean you’ve access to an urban area and great facilities.