It is still Britons’ favourite place to rent but holiday-home prices on the Costas have fallen up to 50 per cent. Has the bottom of the market been reached yet? Top-end locations, including Majorca and Ibiza have seen smaller falls and sustained demand. Institutional investors are starting to snap up bargain flats on the mainland.
“They know what counts: ease of access, climate, infrastructure and rental demand. There are great deals as the government has cut VAT from 8 per cent to 4 per cent on new-builds,” adds Gill.
Check here some Gofl property for sale in Spain.
A two-bedroom inland home in a Moorish hill village can be yours for £50,000 these days. But great family-size villas on the seafront can still hit £750,000 or more. It should be easy to get sellers to reduce their asking prices, but be careful. Quite often the same property is listed with different agents at different prices, so do your homework.
