| One thing above all others is very clear in Spain | | | | luxury property buyers come from, and the fact that |
| amongst a plethora of other countries, that is that the | | | | those counties are slowly coming out of recession, |
| real estate sector has suffered horrendously in the last | | | | many people now looking to buy in Spain at good |
| couple of years. The market can be segmented | | | | prices. It is unlikely that in this particular sector at least |
| though and some areas have responded better than | | | | there will be any further price falls. As there are limits |
| others of course. The better areas were cushioned | | | | on the number of luxury Spanish properties on sale the |
| from the recession and the areas of individual luxury | | | | scarcity principle should come into play and maintain |
| Spanish villas and luxury real estate in Spain have | | | | prices long and medium term. |
| fared a lot better than the areas where there are an | | | | So where are the luxury properties? Spain has many |
| oversupply of similar properties aiming at the middle or | | | | areas that are havens for the super rich, the obvious |
| lower ends of the Spanish property market. | | | | candidates are Marbella, Andratx in Mallorca, |
| In Spain the luxury real estate market is now looking | | | | Catalunya, sprawling city centre pads in Madrid and |
| reasonably healthy. Prices have certainly dropped but | | | | Barcelona, the more exclusive golf resorts dotted |
| they were the first to stabilise as soon as the excess | | | | around the country and the Canary Islands noted for |
| stock was absorbed. Many people who had | | | | their weather all year round are also popular in this field. |
| overstretched themselves got into trouble as interest | | | | Valencia, where I am based, also has its luxury areas |
| rates rose to levels they hadn't been before and | | | | where the professionals, football players, and those |
| others in that area were bankers, lawyers and other | | | | with a lot of spare money have set up home. The |
| professionals etc... whose industries disappeared | | | | areas of Monasterios and Alfinach near to Puzol |
| almost overnight and they were unable to pay the | | | | nestle into the mountainside overlooking the |
| large mortgage repayments that came with the | | | | Mediterranean while Campolivar has probably the |
| territory. | | | | largest agglomeration of ego homes in the area being |
| The now famous distressed sale market grew and | | | | just five minutes from the. Rocafort and Santa |
| virtually disappeared quite quickly as this excess was | | | | Barbara tend to be the favourites of the Politicial class |
| soaked up by those who had previously wanted to | | | | and the area around the two golf courses at Betera |
| buy in the luxury areas but the price was slightly out of | | | | and El Bosque near Chiva are packed with million Euro |
| their range. As distressed sales appeared and were | | | | homes with beautiful views over green fairways and |
| comparatively cheap they dragged the market down | | | | manicured lawns. |
| with them of course. Now they are largely gone the | | | | For more information on the properties available in |
| anchor on the market has gone too of course. | | | | these areas, where there is still an overhang of |
| Not that I am suggesting price rises but with low | | | | bargains available then click on the links in the author |
| interest rates in all of Europe, where many of the | | | | box below. |