Expert Agent Interview: Williams Estates International - Martine Williams

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  My House Agenzia Immobiliare
   
www.williams-estates.com/
martine@williams-estates.com
Telephone +34 662 528 363

Martine Williams

Interview

  1. In which country do you sell property and to what level has the real estate market in your country been affected by the global crisis?

We sell property in Spain mainly on the Costa del so. I believe that the crisis ended approximately three years ago, after six years of recession but since then the growth has been steadily rising. The banks are now lending again and the developers are back building new projects, so now I'm happy to say that the market is steady even with the threat of Brexit around the corner!!

  1. Have property prices risen or fallen in the last 12 months, or have they bottomed out?

Property prices in Spain in my opinion are now steadily rising , but not in the same meteoric way that they did in the early 2000's. Responsible lending has helped maintain growth which will hopefully continue during the foreseeable future.

  1. What advice would you give property owners in your area now who are thinking of selling up?

It is a good time to contemplate selling if you want to leave Spain or have had your property on the market for a long time. For the right market price you will find a buyer, they are here and access to finance has returned. However, I will say this, everyone is looking for value for money, and a large proportion of the resale properties available are from owners who bought in the very height of the boom and are disappointed by the current market price of their property. So overall, if you just want to sell your property and move on, be prepared to listen to offers.

If however, you can wait another year or two then you can realistically sell your property at a higher price. Another solution for people that want to gain a higher sale price but not lose money paying community fees etc is to rent it out. The rental market is booming, the demand for decent apartments is huge and people will pay higher rental prices.

  1. Does property in your country represent good value for the investor and if so, why?

I believe Spain is an excellent place to invest at this time. Prices are rising but there is still value for money. All costs can be recouped through rental income if so desired and between two and five year period one could sell the property at a profit.

  1. How long before the property market in your country returns to pre-crisis levels and what can we do to avoid the same situation again?

I believe that we are now on our way here in Spain and the Costa del Sol and I predict steady growth during the next 2 -5 years. With regards to the mistakes of the past, I sincerely hope that the banks in particular have learned from this and are lending responsibly to people that can genuinely and comfortably afford to pay their mortgages and therefore avoiding the major crashes of the past.

  1. From which country do you find the majority of your property buyers are coming from? Has this changed significantly over the last 5 years?

That is a very difficult question. On the Costa del sol we literally have clients from all over the world. Prominent groups at the moment are Scandinavians, Germans , British , Russians and Spanish naturally.

  1. What attracted you to selling property in the region?

We have worked in this business for over 15 years, originally began in Madrid and gradually moved towards the coast as we had been coming here since childhood. My parents have always had a second home here and of course we enjoy the lifestyle

  1. What would you estimate the percentage split is between local buyers and international buyers?

50/50

  1. Do you believe the local Government in your market country is actively encouraging or discouraging foreigners into buying property? How and why?

It is actively encouraging buyers of all types and nationalities. I would go so far as to say that Spain depends on foreign investment in the property market, as it is not a major industrial giant like Germany. Banks are lending to foreigners now up to 70- 75% so there are signs.

  1. What's the biggest benefit for investors of buying in your country over anywhere else?

Spain has so much to offer,. It has one of the best climates in the world, fabulous infrastructure, beaches, restaurants, schools, international atmosphere, amazing outdoor lifestyle and very welcoming people. All of this with excellent value for money in both property and literally everything else from shopping to food to clothes. There is both growth and stability here as well as value. The next few years I believe are truly promising and one very important factor nowadays to consider is that Spain is safe for everybody!

 

Agent Profile

  My House Agenzia Immobiliare
   
www.williams-estates.com/
martine@williams-estates.com
Telephone +34 662 528 363
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