A great time to buy a home in Spain

February 24, 2008

The price of newly-constructed flats located in the coastal areas of Spain decreased in price by approximately 3% during the second half of last year, according to the data published by the Spanish Property Valuation Society. The main reasons provided by the Spanish Property Valuation Society to explain this phenomenon are the harder access to credit for Spaniards and the impact of this process on the economies of English and German families. The areas that recorded decreases can be found in Andalusia, Catalonia and the Community of Valencia, meaning that Murcia has escaped these decreases. In some areas of Huelva and Alicante, such as Punta Umbría and Santa Pola, the price of newly-constructed flats suffered a decrease of 3%. The Spanish Property Valuation Society ensures that those buyers who acquired a property in coastal areas taking advantage of the capital gains received during recent years are in a good position to sell their properties. For an extensive choice of new and off plan property for sale in Spain on the Costa Blanca and Costa Calida, visit the Novocasa website.