Heavy discounts on Spanish properties
According to government figures the average price of property in Spain now stands at around 1,700 Euros per square metre – a level last seen six years ago.
Official reports on Spanish property prices suggest that the average property price has fallen by just over 20 per cent in the years since the global downturn but in reality some properties are now for sale at less than half peak levels.
When calculating the average price properties across all areas of the Spanish mainland and its islands are thrown into the mix so areas that are densely populated and where demand is high for primary residence house prices have held their value relatively well whereas coastal resorts and some of the islands that relied heavily on tourists and holiday home buyers the price of properties has fallen by up to 50 per cent of peak levels.
Agents experienced in selling Spanish property to overseas buyers suggest the biggest discounts will be found along coastal resorts within the Costa Blanca and Costa del Sol regions where there is a surplus of properties for sale.