As much as it hurts, in the current market, property sellers still have to be realistic about the price they want for their property in Spain. Most people in the Hondon area have too great an expectation of their property value.
In general houses for sale in the Hondon area have sold for well below their original sale price if they were bought in the boom/pre-2008 (the crash). Very few sellers achieve their initial asking price. And it’s a fact that whilst Hondon Property Sales are definitely on the up in 2017 / 2018, figures such as 30% or 40% below pre-crash values are now common.
It’s a buyer’s market right now.
Not great news if you are selling! And supply is larger than demand in many areas of the Spanish Costas, pushing prices down even further. Thankfully, most expert reports think this has trend has now bottomed and a slow recovery is now happening. We’d echo that in the Hondon Valley area. as 2017 was a record year and we have already smashed our own target for 2018 (Aug now).
The property portal Kyero keeps tabs on many of the official property indicators and housing data on their blog. They have just reported the news that house prices on the whole are fairly stable now. Read their page as often they do contradict but it might help you when valuing your own house. And do comparisons with similar property in your area. Remember, though that these reports usually talk in averages. > SEE HERE> KYERO “Spanish House Prices Have Fallen by 41.4% Since 2007” ARTICLE
The hard truth though is that the property market usually dictates the average exchange so what we want for a house is not always what we get.
So, please, do your property research or call / visit us for a free no-obligation valuation and an experienced chat.
We are Hondon Villas in Frailes & Nieves, the most experienced agents in the area. AIPP accredited and extremely helpful.
: TEL 965 075 357 property @ hondonvillas.net