How negotiable are properties in Spain?. That is the question most clients make when they visit a property. Most news about real estate in Spain are about how cheap the market is, how great discounts are, what amazing bargains you can find anywhere…….
Let´s understand the market a bit. Since 2008 prices stopped raising and in the last 5 years have been falling. In some areas and locations a lot. There was no demand, and the prices where too high. Construction stopped.
But the worst of the economy crisis passed while at the same time prices discounts make the market interesting again for buyers and investors. Properties in best locations with best discounts are being sold. This is important to understand. Is not the same if you are visiting a private sale with the over market price or a banks property with a huge discount in a nice location.
So there is not a simple answer for our question, but I can give you a few useful tips:
- know the market well to understand how well price the house you are visiting is.
- If you are visiting a property with a great discount on the price, don´t expect to negotiate a lot more.
- Many properties on the market are already priced to sell, not to negotiate.
- Only negotiate if you are really interested in the property, the seller will feel this.
- A professional will help you establish the market value, knowing which will the right price to buy.
- You will be able to negotiate most on properties with no demand.
Cristian de la Torre