Apr 30 2009
Crisis and Real Estate
That we are all in crisis, we are all very aware (and suffering the effects) but today I would like to share an article I found the other day in Finanzas. Com that offers a couple of stadistical data, that may be a concern for the residents of Playa San Juan.
This report tell us that the parts most affected by falling prices in the real estate industry were the coastal towns, among which we find ourselves. A few years ago it was unthinkable to us to obtain properties at prices that now exist in these places. Here are some examples:
Valencia: the Sagunto and Gandia areas are those that have depreciated the most but The Safor (Daimús Beach, Miramar, and Bellreguard Xeraco) areas have dropped considerably. Another good option for buyers is Cullera y Sueca where for some 100.000-130.000 Eu you can find great quality properties that are well located.
As for the Valencia Capital this has been less affected and so we find that the Malvarrosa beach has maintained fairly well its prices; on the other hand in El Saler and Alborada, the latter the most expensive in the area, one can still find some furnished homes between 175,000 and 200,000 euros, much lower than years ago.
Alicante:This province has also made significant reductions in their costs, Playa San Juan, San Vicente del Raspeig and Elche. In other coastal locations such as Denia we can say it has been the most affected and we can find prices from 80,000 Euro. However Benidorm firmly maintains its values. In Santa Pola and Torrevieja we can get a flat for the fantastic price of between 50,000 and 100.00 Euros, of course depending on location, size and quality.
Costa del Sol: Estepona and Benalmadena have been the worst affected. Torremolinos and Fuengirola remain fairly stable. As to the east, Rincon de la Victoria and Velez Malaga is stabilizing. Undoubtedly Marbella the town with the highest prices (average of 3.00 Eu/M2) has also been affected, and especially in the construction of new buildings and above all luxurious homes.
We hope that this global crisis that like a huge storm has befallen on the world’s economies begins to abate soon and everything returns to normal and that this financial disaster provides us a lesson for the future.
Photo: TonyP
