SPANISH BUYERS ARE RECONQUERING THE SPANISH PROPERTY MARKET

Since 2 years many british buyers are offering their spanish properties to extremly discounted prices. Of course, those who have bought with a strong pound can discount at least approx. 25% without loosing money. The behaviour of British property owners and the huge amount of not sold properties in spain was causing the fast and high fall of prices. Property prices have dropped in some areas for 50%. That means, the price level in spain is the same we have had approx. 12years ago.
Now Spanish buyers, they could not afford buying when the prices have been up are purchasing properties from british buyers or those properties dedicated for the british market. Spanish civil servants mostly have budgets upto 150.000€ are the main group of purchasers.
Recently Spanish banks are offering repossessed and distressed property for sale in Spain. E.g. on Costa Esuri, Costa de la Luz, Andalucia 2 bed apartments on a the golf course starting with 75.000€. Communal pools and gardens, reserved parking space, terraces etc. all included. And the banks are creating upto 100% mortgage for residents.