Property in Spain 'sells in a day'

Friday, February 17, 2012

Property in Spain 'sells in a day'

A Spanish agent has claimed that property in Spain will 'sell in a day' – as long as the price is right.

José Luis Jimeno, Managing Director of Noteges, believes that sellers "have nothing but their own unrealistic expectations to blame" if their property fails to sell. After selling over 6,000 homes in Spain in 2011, Jimeno observes that properties tend to sell at 40 per cent below the average asking price in each region.

Other agents have also backed up Jimeno's assertion, with property expert Barbara Wood believing that agents are slowly starting to come round to the idea that if they want to sell, they must be realistic with their pricing.

"I am confident that this situation has finally changed, particularly since the end of summer 2011; asking prices are being reduced in greater numbers and by larger amounts and the trend seems to be accelerating."

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