The latest edition of the "Salón Inmobiliario del Mediterráneo," which was held in Malaga during the last weekend, is the most palpable proof that Spain is today a “street market” of houses, so come and see, come and buy!
Price reductions were there up to 34%. There were Marbella houses which were reduced by developers from 500.000 € to 250.000 € so.... take note and play hard for discounts.
As we explained last week, out of the Jimenez de la Iglesia report, there is a housing stock that was built on cheaper land that can defend great discounts like those these days. So, now… it is the real time to buy a house under the sun. I would also advise you to read Justin´s report on this.
According to one of the representatives of a development´s company participating in Salon Mediterraneo, if an effort is made regarding the price, sales go smoothly; this same gentleman says selling a home a week on average even to foreigners, because there are some economies that have already been recovered from the crisis.
The Andalusian government has opened a register for the number of unsold homes in the region: it records already more than 70,000 homes. The regional councillor for Housing and Planning, Juan Espadas, recalled that the objective of this measure is to bring to surface all the unsold homes in order to find ways to "unblock the housing market”.
The goal of this registry is to make the market available to the general public, so people can know what properties are available in each municipality and what the cost of them. The most of the registered units belong to Banks and other financial institutions.
The regional government plans to develop within 2-3 weeks an agreement on incentives with financial institutions.
The agreements will be focused on longer repayments periods to those buyers guaranteed by the Government.
I will keep posting on this initiaive by the Regional andalusian government.
Best Tuesday,
Maria
www.costaluzlawyers.es
Alcazaba and Malaga from Gibralfaro by Sean Munson at Flickr.com