Spanish property – what a bargain!

Industry experts cannot emphasise enough the need to price competitively if you’re selling a property in Spain at the moment, and property prices in Spain, although at rock bottom, are not always affordable. The country’s most expensive property recently entered the market at 16.5 million euros, providing an average monthly mortgage of over 60 000 euros.

The property, located in an exclusive development in Madrid, has attracted a lot of interest but only two serious enquiries. Owning a property in Spain is nowadays viewed by many as being a ball and chain relationship because of the hardship cases commonly reported.

In addition to the slow economic recovery and stagnant real estate market, you might think Spain should be quarantined. Even though such properties (as above) remain beyond the pocket of most us, the real estate market in Spain does represent excellent value for money, especially when you consider that a similar property in Hong Kong recently sold for nearly 60 million dollars.