The Value of Houses For Sale In Spain

I posted this blog last week about houses for sale in Spain and their values, calling the bottom of the market in certain areas of which I include the big cities of Madrid, Barcelona, Valencia and Bilbao. Well I promised an answer to the question what is a house for sale in Spain worth and here it is in the video. Since I posted my blog both Knight Frank and Kyero have  coincided with my theory of the end of the major drops in the market. Other sources of reliable property information are saying the same including Mark Stucklin from the Sunday Times writing in Spanish Property Insight. What you need to avoid is broad generalisation of course. By this I mean to say that there is no such thing as the "Spanish Property Market", the term can be used loosely but in the end there are a lot of regional, local and even neighbourhood markets that are driven by local external factors as well as the macro economic reality. Examples would include whether the AVE railway from Madrid which opens next year will have an effect on the Valencia Property Market. It has had a huge effect in Zaragoza since it opened. Will smaller regional projects such as the extension of the Valencia metro line into Ribarroja and Villamrchante have an effect in those towns? Will the return of a decaffeinated America's Cup in 2010 and Valencia being named European City of Sport for 2011 have an effect? Until you look at all of these factors you cannot say that the Spanish property market is dead, moribund, stable or thriving. Each place has its own peculiarities. Based on the anecdotal evidence of the last month and conversations I have had with many agents in various points of Spain I have to say that I am optimistic now, not for major rises of course, that isn't in my interest either. I feel that the market is close to bottoming out and the best deals are available now. When the bottom is reached then the best deals have already been snapped up by the savvy investors. Those who read this blog and sign up for my newsletter of course are those savvy investors because forewarned is forearmed and you know the reality of the situation. Anyway enjoy the video and then just for fun I have attached another short video about culture and life in Valencia to the bottom of the post for you to look at too. Related Reading 1) Spanish Property Insight 2) Kyero Reports on The Market 3) Knight Frank's Spanish report As Told On property Abroad. They Predict a Fast Recovery For The Spanish Coastal Areas. I Disagree