As a Brit securing an interview with the BBC for my boss to talk about the Spanish Property Market is a big coup!!

So when I went to meet the distinguished Peter Day and Sandra Kanthal of BBC´s In Business program at Madrid Airport I was both excited and apprehensive.

Peter and Sandra are charming and as we drove to Cuidad Valdeluz  Spain´s most infamous  “Ghost Town” they seemed concerned that we were taking them to an Dead Town and  Dead-end Story, a carcass that had been picked over again and again in the media (New York Times and Spain´s El Mundo )

Of course no one, including me, is going to deny Property in Spain has not undergone a significant “shock and awe” encounter with the economics of supply and demand, impacting on homeowners, developers and banks alike.

What is interesting and why we wanted to take Peter and Sandra to Cuidad Valdeluz was the altered attitudes of Spanish buyers. These attitudes have shifted and to show this we will strip away the emotion and focus on the facts.

We are Renting with Options to Purchase and Selling in Cuidad Valdeluz: Los Fresnos de Valdeluz,Yebes, Guadalajara approximately 70 kms outside Madrid with high speed train links  (AVE), as well as local trains and buses service the area, with the A2 motorway taking you to Madrid .

The point is that this is the “Ghost Town” most quoted and our recent experience is this: we advised our Client, a Major Spanish Bank, that if they wanted to sell and move these properties they needed to offer the Spanish property buyer something new. So we reduced prices by approximately 25%

We got to work and 7 months later out of a total of 113 apartments that were available in this building there are now only 44 left unoccupied, that is 69 properties in seven months or almost 10 properties per month (9.85) that we have sold or rented with options to purchase for our client.

Our client is happy, the new residents are happy and needless to say we at Basico Homes are happy (You can listen to one of the residents as she chats to Peter by the swimming pool in the interview with the BBC)

What was good to witness was the altered attitudes of Peter and Sandra as they toured the poolside and a three bedroom apartment, the thing that seemed to stick out most was that these are well constructed and frankly quite smart residences if located in leafy Surrey would probably fetch 5 times as much. What I liked was that despite the story being one of contrast between Spain and Poland, Peter and Sandra warmed to the location and the properties and could see that the residents were happy with their decision to live in a supposed “Ghost Town”

In conclusion I think we can look at the experience of the buyers who purchased at the peak of the market and certainly feel compassion for their plight. We can gather some strength from the facts that what was the ugly poster boy of the Spanish property crash is working through its most difficult adolescence and we can derive hope from the undisputed results we have delivered for our clients.

Property is Spain is selling with the better properties securing buyers all over the country whether on the Costas or in the Towns and Cities. So is this the time to buy your home in Spain ? Drop me a line or give me a call for a chat and make your own mind up !

Are these exaggerated claims – We think not – our experience shows us they are not

Author : Robert Evans

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