Spanish property 'is price-sensitive'

Spanish property can still sell - but only at the right price, it has been stated.

Director of real estate company Mercers Chris Mercer said that the company found this when looking to sell off a home, discovering that there was little interest until the price was lowered.

Discussing the property, located in the town of Vejer de la Frontera, he noted that this "was priced at EUR180,000 (GBP162,000), but after consulting with Mercers a motivated vendor reduced the property to EUR 150,000"

This took place at the La Noria development, at which Mr Mercer stated further discussions led to some properties being offered at 42 per cent discounts compared with their 2007 asking prices.

He concluded that there is a market for homes, but buyers are "ultra price-sensitive" at the moment.

Such a situation may be ideal for those looking to find a Spanish bargain.

Earlier this month, Kyero.com blogger Martyn Dell commented that auctioned properties represent the best value in the country at the present time.

Like this? Then share with your friends and colleagues!