There are still many ” real estate experts” that tell us once again that the prices of the houses touched the ground, but the truth is NO, there are regions that the coming years will see significant price drops . This is the case for example of Barcelona, where prices still have much to lose . Not to mention southern cities such as Granada , Sevilla , Córdoba where prices are still very high.
The true ‘ bargains ‘ we see today are hideouts , ground floors, troubled neighborhoods or depopulated villages. Spain in general is depopulating, and this is one of the main reasons why prices will fall, because there are already a lot of empty houses, and there will be more empty houses in the next years with no youngs, low birth rate , immigrants returning to their countries and spanish citizens emigrating in search of a better future.
Madrid, although their prices have dropped enough , has areas where the next year prices will fall further. Currently the ‘ low ‘ prices are in neighborhoods that locals usually avoid like Villaverde, Vallecas , Pan Bendito , Usera , but I think next year will have to see declines in the most popular neighborhoods and close to downtown.
In Valencia, the ‘ bargains ‘ are in neighborhoods that valencians avoid, but I think over the next few years these prices will decrease more to reach middle-class beighborhoods, if there is still middle class.
Coruña is another strong that refuses to lower prices . But nobody buys , so they will come down if they want to sell , individuals, banks and real estate agents will eventually have to decide whether to sell or keep the property empty for the cost it causes. Coruña still maintain similar prices to Madrid or Barcelona.
All the real estate agents want to sell that this year there are foreign buying, Russians, Chineses, Britons buying in Spain, but I want to see them in a couple of years and know how they feel about the house they purchased in Spain because they will feel cheated because the banks are selling what the Spaniards did not want to buy, in neighborhoods where nobody wants to live . If you bought it to have it empty you will have the risk of illegal occupation, if you bought a rental unit there are areas with very high risk of default because the unemployment. Sometimes I wonder , if a foreign alien like Russian, Chinese, British or Swedish sees a ‘bargain’ flat with an ‘ideal’ price released more than 2 months Why don`t ask themself “Why yet nobody buy it? I answer you: The real bargains have not came yet, they will be come next years, there is so much vacant housing stock, and still there are so many foreclose homes foreclose, so to hurry is stupid.
Currently there are many homes for sale at high prices that Spaniards do not pay and won´t pay, that’s why they offer to you because you are a foreigner and you do not understand what happens. So it is better to wait because prices have not yet bottomed out.
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