buy now or wait?

2 Replies
somedaysoon

1250878382

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We have visited the mar menor many times and love the area (just back from our latest holiday). We plan to buy in the region towards the end of next year. With the current property problems would we be better waiting to see if the prices drop further or has the local property market reached its lowest point. We could buy now and rent out the property until we are ready to move or would we be better to wait for until next year?

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Replies

Shepherd-463678 1250937183

This is a difficult one to answer, with all the difficulties over the recession, exchange rates and job losses people are now latching on to any piece of good news that indicates things are getting better - with stories of the housing market starting to move again and banks recovering - but it could easily be a false dawn and things could very quickly get worse again.


Some analysts are saying that Spanish house prices are still too high. It is supply and demand and there are hundreds of thousands of half-built and unsold properties all over the country.


Certainly buying now will get you a very good price compared with a few years ago but that is all you can be sure of.




mac33 1251193308

I would recommend that you find somewhere long-term to rent unless you know exactly what you want and where you want to live.


If you are ready to buy now then you may as well as mortgages (assuming you need one) are low and properties are plentiful.




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