Finding a cheap property in Spain has become a sport, and there are many bargains available in Spain right now. Bargain if the market does not fall even more. People who bought 2-3 years ago will not sell in this market unless forced to do so.
The expenses of buying a property in Spain is normally 9 – 10%, and selling is 6 – 7%. So unless your profit is higher than those expenses you will loose money, even is you a property at the same price tag as when you bought it.
Life in Spain
Most people who bought 2-3 years ago are not interested in selling for another reason: “Quality of life” – and that is the reason why we are here. Don’t forget…
Bargain in Spain – villa for sale at a reduced price – cheap villa
This quality villa is now being sold at a reduced price of € 450,000
It is located in the cozy urbanisation of Torremar with lovely views. It is built to a high standard and with an eye for the details. It rests at an elevated position providing splendid sea view and views over the coast and Fuengirola harbour.
As the property market reduced its turnover and price development, many owners are being adviced to do long term rental in stead of hoping for a quick sale on a premium priced property.
This is a cheap apartment in Spain selling at just € 169,000 for 3 bedrooms and 95 sqm apartment.
The apartment is fairly standard, howver the location is good and the views over the town are excellent. Walking distance to the beach and located in the old part of town called Los Boliches with many restaurants and plenty of sandy beaches.
Some properties are offered to the public through estate agents set up to shift the massive amount of properties on stockl with the banks.
This has to be done taking into account that is should not hurt the business of other developers or promoters, as they may as a consquence also fold, thus even more properties would end up on the books of the banks.
The market is not flooded with distress sale properties, but one type of property that can be bought cheap is first line to the beach
Beach front property – distress sale
The distress is not related to the owners needing to sell the property to free up capital. The main reason for first line beach property for sale as a distress sale property is the Spanish coastal law from 1988.
Spanish coastal law from 1988
The coastal law says that if your property is built on sand it could be declared inside the public domain and automatically you lose ownership even if the property was built legally and built before 1988 when the law came into force. It does not matter if it is more than 100 meters from the sea even, the definition of the coastal public domain is draconian.
The owner does not get any compensation only a concession to continue living there for the rest of their lives.
The group called the “Plataforma National de Afectados de la Ley de Costas” are trying to oppose the abusive application of this law.
Amendment to the Ley de Costas, Coastal Law
The Spanish Government has added a last minute amendment to the Ley de Costas, Coastal Law.
The reform has now come via an amendment to the Maritime Navigation law, taking the legislation change directly via the Justice department and away from the Environment Ministry, needing only additional approval in Congress.
It states that such property can now be bought and sold, and indeed passed in inheritance, provided the building was built legally before 1988. An estimated 45,000 homes are estimated to be affected all along the coasts of Spain.
We are proud to introduce the latest Gazules del Sol price reduction. A stunning 50% discount is offered to buyers interested in this development.
This has accelerated the sale of the cheap apartments in the development, however there are still some of the penthouse apartments for sale cheap. The 50% discount is pricing this quality development below market value.
Penthouse apartment for sale at reduced price – real bargain!
Large terrace in the same level as the apartment – one level apartment!
3 bedrooms, bathroom, terrace, parking
Price reduced to € 219,000
.
The price of this penthouse apartment near Fuengirola has been reduced with more than € 100,000 making it very attractive for the price.
About 100 m2 private terrace with great views gives this apartment the extra special thing worth coming back for. Enjoy the coastal view, the country side or the mountains with the white washed village “Mijas Pueblo”.
.
Cerros del Aguila
The penthouse apartment is located a few minutes from the coast in the popluar urbanisation Cerros del Aguila. The urbanisation has local shopping, restaurant, café, tennis and pool.
Distress sale of properties have always existed. Whenever someone is in need of selling their property quick, hence lowering the selling price below the market value.
The price of this penthouse apartment near Fuengirola has been reduced with more than € 100,000 making it very attractive for the price.
