Prices stabilising in Spain

Some parts of Spain are seeing property prices increase but some experts point out that it is affordability that will be a key to a recovery in the country’s real estate market.

According to Facilismo.com, Spain’s number one property portal, Murcia has posted the highest house price rises of all the nation’s autonomous regions at 0.24%.
This makes it one of a select quartet of communities showing positive growth in January 2010 with Valencia second at 0.11%, Cantabria third with 0.09% followed by the Basque Country with 0.06%.
Constantly surveying their listed properties and with almost seven million visitors to the portal in November 2009 alone, Facilismo.com is as well placed as any expert to make this claim, according to Chris Mercer, director of Mercers real estate agents.
The bigger picture though is slightly less rosy with overall prices falling 0.28% for January, but still a marked improvement on a fall of 0.57% for the same month in 2009. Thus, the overall feeling is that prices are stabilising, according to Murcia based Mercer.
‘This shows a comforting trend towards a stabilization of the market and the prospect of further prices rises, at least in Murcia, over forthcoming months.  I’m adamant that this market is the most price sensitive I have seen in 27 years dealing in Spanish real estate this is why Murcia is emerging strongly,’ he explained.
From our Mazarron office we can offer a range of €100,000 to € 150,000 properties,  and they’re attracting plenty of buyers for obvious reasons,’ he added.