Playa Flamenca 1 Bed Penthouse
The townhouses at Playa
Flamenca are popular with second home buyers and the
retired due to their range of budget. While a small
townhouse in the area can start as little as 110,000
euros the larger models can reach as high as 200,000
euros.
Like most properties in the Playa Flamenca area at
present there are lots of resales available so you can
very choosy when making a shortlist of the ones to view.
Townhouses in this area have never been seen as a sound
investment. Though you would not normally lose money on
a sale the market is quite static so the valuation of
your townhouse may stay the same for a period.
It is always difficult to sell properties like these if
there are many similar ones for sale. To make a sale you
may have to make the property more appealing to the
buyer and the only way you are going to do this is to
reduce the price a little.
SPAIN TO BE A 'BUYER'S MARKET' IN 2007 - ASSETZ
Due to excess supply and stagnant house prices, this year Spanish property will be a buyers market according to a leading expert in the field. By all accounts Spain is not the property Mecca of old as we begin 2007 as years of boom have been followed by intense development leading to competition among sellers, forcing prices down. Property investment specialist Assetz notes that capital growth in the country fell from 12 per cent earlier in 2006 to 10.8 per cent in November and is likely to continue slowing into the new year, after which it is likely to stabilise. Similarly, the Knight Frank global house price index states that house prices grew 9.7 per cent in the third quarter of last year, down from 13.5 per cent over the same period in 2005. Mark Stucklin chief executive of Spanish Property Insight said it is not all doom and gloom for Spanish homeowners: "The shares of property companies quoted on the Madrid stock exchange rose by more than 60 per cent in 2006.
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