Costa Almeria Property Crisis Overview from Spanish Hot Properties · Costa Del Sol Malaga EU

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Spanish property in Costa Almeria has probably struggled more in recent times than any other Costa in southern Spain bar Costa de la Luz and right now you can buy property in Costa Almeria for €100.000 and some very good property from €120,000 Euros with very little sign of buyers and considering that Costa Almeria gets more sunshine per year than any other Costa in Spain it is quite hard to understand why the market is in such deep crisis.

So why this case well Nick Stuart managing director of Spanish Hot Properties is explains “First you have to understand the Almeria property market and how it came to be and then the outside factors that have led to the current situation. Costa Almeria as an international property market is relatively young and was put on the map primarily by Desert Springs Golf resort where to use Sir Ian Bonham’s words “When I wanted to buy a place in Spain Desert Springs was the only choice” and other major sports stars love the place but that’s one property development and one golf course and hardly going to sustain a whole property market but at least it put Costa Almeria on the market. However the real driving force for the property market in Costa Almeria was price with major Costa del Sol agents (so major they have now gone bust) opened offices in the region because people just couldn’t afford to live in Costa del Sol and looked either Go inland from Costa del Sol or out towards Costa de la Luz and Costa Almeria and around 2004 Costa Almeria started to be marketed as real alternative for property buyers with lower budgets. The marketing people did a great job so much so by the time we had hit the top of the market there really wasn’t much difference between all the Costas of Andalucía with Marbella obviously having a premium. The other factor is the majority of overseas buyers who bought in Costa Almeria didn’t buy to live but were second holiday home owners with the obvious exception of the Ex-Pats that choice to retire to Costa Almeria. Then bang the property crash comes and the first thing that goes in the holiday home second market which Costa Almeria and Costa de la Luz felt the worse of. However it’s much worse than that because the people who couldn’t afford to live in Costa del Sol can now afford to do so which means price is no longer a factor for Costa Almeria buyers it’s about the more relaxed and chilled out way of life. People at the low end of the market will probably look at properties in Costa Blanca south for €70,000 and people who have €120,000 Euros to spend with probably find something for €140,000 in Costa del Sol. The other problem for Costa Almeria is there is no real work for the ex pats community especially compared to Costa Blanca and Costa del Sol. So if you’re coming over to live and work in Spain Costa Almeria is very much off the list and this in a nutshell is why Costa Almeria is taking it so badly” Nick explained at some length.

It’s a real shame as Costa Almeria has a lot to offer and is very much for those who want a much more quite and relaxed holiday rather than those Costas with busy and energetic nightlife. Costa Almeria has excellent relaxed beaches as well as excellent Golf Course with the only desert golf course in the whole of Spain, Desert Springs. Costa Almeria boasts the most sunshine of all of the Spanish Costas and you can still actually buy a property on the beach for €500,000.

If you would like to find out more about Costa Almeria property or advice about the current state of the market contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurn El Grande 29120
Malaga
Espana

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Article Source: Costa Almeria Property Crisis Overview from Spanish Hot Properties · Costa Del Sol Malaga EU