Daz,
I take it that you are talking Euro's. When we purchased in Block 1 the 2 x 2's on the intermediate floors were about 96,000 euro's I think, so it seems you had a 'good buy' at 76,000. There are so many factors affecting the property markets, both in Spain and the UK at present that it is very hard for a non-expert to put a price on any individual property.
Where our UK house is, they have been building so many 2 bed flats at between £200,00 & £300,000 that a builder friend recently told me they would have to start reducing the prices soon as supply has outstripped demand because they overestimated the number of buyers in the target group. This is not dissimilar to the situation in Spain, which will now be exacerbated by the UK / world credit squeeze.
I have been watching carefully all the threads relating to property prices and whilst I cannot profess to be an expert, it seems to me that in a 'flat' market what you paid for the place, or less (depending on how fast you want to get rid of it) is all that can be hoped for at present, certainly the heady days of rapidly inflating prices are gone for now. As with any commodity, property is only worth what a buyer is prepared to pay and if that means a 10,000 euro loss, it's then up to you whether you accept or not as only you know how important it is for you to sell. There has been a lot recently about estate agents excessive commissions, but in reality, they are your best source for a valuation.
The only brightness on the horizon is that inflation will eventually overcome stagnation and as more Brit's grasp at the opportunity to escape our authoritarian, neo-communist leaders, prices will once more begin to rise, but for the forseeable future, the giddy gains of the last few years are no longer, so start praying for a continued new labour Government and a new ice-age to force everyone south!
Mike
This message was last edited by xetog on 10/11/2007.