Last Sunday in "El País", one of Spain´s leading newspapers, builders decided to strike back at slow sales. They "warned" prospective buyers of their overpriced new-built properties that waiting could drive prices up.
The nerve of these people is really beyond belief. The argument is typical arrogance of builders who have had it their way for far too many years and cannot adapt to the new market conditions.
Do not be fooled by these people. It is a buyers´market and do not let anybody tell you different. Prices are coming down. Since summer of 2005, on our little part of the coast they have come down as much as 25%.
There is an enormous supply of properties for sale and some sellers are getting desparate.
So there are good deals, even great deals to be had. I have a few on my website.
But do not buy for the wrong reasons. And certainly not new builds at these as yet inflated prices.
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