Prices dropping to realistic levels

Developers in the Costa de la Luz (although not all of them) are starting to realise that prices have been inflated too long. Property sales are slowing down and one developer has recently released phase three of his golf/beach development at prices 15% less than the first two phases, which were incidentally 90% sold out. Good way to beat the resale market for those investors who purchased phase one with the intention of selling on quickly and making a few bucks. The smart developer lowers his price  and basically guarantees he will sell before the private investor, what with his price being over 20% cheaper than those same properties on the resale market, albeit finished and completed.
A great strategy if you can take the hit and prefer to sell quickly.

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Sorry to say but I'm planning to buy soon at a realistic price. 

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I'm glad to hear it. Nothing worse than knowing that you're paying over the odds. Well done.

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I,m told prices are starting to firm again on the CDS. A friend has just lost out on twice on properties while haggling over the price (Resale)

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We are reading that the prices are still on the slide on the CDS as much as 25% in some areas as far too much built and for sale but offcourse the agents and others in the selling game will say its going up mostly, there could be some local hot spots so you do get the situation of a few people chasing the same property, but the signs are still there thats its a buyers market and 1000 s for sale on the coast alone , until they stop building and clear the resales I think it will stay like that for some time, also some of the build / finish is pretty awfull as they are using lots of unskilled people they could get away withit a few years ago but now not many new buyers around it should all be 100%, this is our view of the house market.

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They are still very much on the slide - however some buyers are offering very low prices as investors, then a normal purchaser comes along and is happy to pay a bit more for the property they want thereby knocking out the investor buyer.

Also if owners will only accept a base level and the agent will not or cannot drop their commission (some larger agents have to make their margin and the salesstaff are in a small percentage of the overall commission figure) then its not in their interest to even send the offer up or accept a lower one.

Gazumping at its very level best!!!

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The final apartments in the third and final phase of our development have been released at 40k less than the previous phase. €290k vs. €330k. Okay, they have "better" views, but it's still a big drop...

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