In this article I examine where to find the
Cheapest properties in Spain.
There are two intrepretations of the term cheap;
- Cheap in absolute terms. I.E. What are the Cheapest properties in Spain?
- Cheap in relative terms. A luxury villa reduced from 2 000 000 Euros to 1 000 000 Euros could be considered to be very cheap.
The cheapest properties in Spain in absolute terms are typically:
- Situated inland
- Small in Size
- In poorer areas
- In a delapidated condition
- Spanish rather than expat areas
- Older rather than modern construction
- Further from an international airport
That said cheap properties in Spain can offer alot. It's not difficult to find a habitable property for under 25 000 Euros if you know where to look. These properties enable the purchaser to get onto the property ladder where they wouldn't be able to purchase elsewhere. If you are a DIY or have building skills, this amplfies the range of properties open to you.
Where to find these properties:
Use our
Spanish Property Finder a let us know what sort of property you are after.The cheapest properties in Spain in relative terms is typically:
- About be repossessed
- For sale by a bank having been repossessed
- In an area where there is a lot of similar property for sale
- In an area where property speculators have purchased
Pre-repossesion properties are probably the cheapest properties in Spain and represent the best value for money. If the vendor is in a situation where he has a mortgage on the property, but still a large amount of equity. That is to say he owes less to the bank than what the property is worth. If he doesn't keep up with the mortgage payments the bank can respossess the bank and sell it. If he wants to sell and pay off the loan he may offer the property at less than bank would offer it for if it were to be repossessed.
The original article can be found here:
The Cheapest Properties in Spain
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