October 2010 Archive

Sunday 24th October 2010

Spanish Property Sales increasing for last 6 months

I have been repeating a phrase all week and I am beginning to sound like a stuck record, “ No one is going to tell you when the market gets better, it will just happen”, and our own experiences in 2010 have started to bear this out. One of our main markets is the old favourite, Spain.

We decided to pour time and resources into this when we started Girasol in 2006. sometimes we wondered why! However if you stick at your plan and have enough money and time, things happen.

So far this year a combination of confidence and sensible sellers are causing property sales up 26% year-on-year in Spain and we have never been busier. Some of these are developers off loading products and we have enjoyed success with highly geared mortgages and discounts, but many are buying for pleasure, leisure and have a great choice of products. It may be some time for the market to get better but there is still a great choice of property with motivated sellers on board.

Our newest market to watch in 2010 has been the Florida one and with a range of pre tenanted offers with a ROI of between 10-14% net, we are excited about this as it is becoming a popular and turn key solution for investors. And as one keeps repeating, “No one is going to tell you when the market will get better, it will just happen”. As long as a person is buying for their own reasons and can afford it the market wil continue to hum in the background.

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