Last weekend I travelled from London to Madrid for the Outlet Residencial property fair and was impressed by the range of properties on offer and the prices being quoted.

Básico Homes in Outlet Residencial fair.

Property prices were below market value as the Spanish Banks and Savings Banks are looking to recoup their investment and are not currently looking to make the developers profit. This means that discounts as much as 40% from Open Market Value are available to Spanish property buyers, although 20% to 30% is more representative. Effectively the lending institution is passing the profit margin of the developer to the property buyer.

In addition the property is often sold with mortgage finance available from the lending institution that is selling the property. The buyer would have to satisfy the lenders normal criteria but at least as a prospective buyer you know that finance is in place subject to you meeting the conditions of the bank or saving bank.

“Location , Location , Location” is the traditional property mantra! I might suggest that “Timing, Timing, Timing” is one Spanish property buyers should take onboard! This opportunity will not last forever!

I recently took up a position within Basico Homes to promote the sale of property in Spain to English speaking property buyers from my base in London.

Villa Capri in Benidorm, Alicante. Click on the photo to see all our promotions.

Básico Homes is a company based in Madrid, Spain. The company specialises in working directly with Spanish Banks and “Cajas” (Savings Banks) to sell new developments that the banks have taken back into their control from developers.

Where Básico Homes service differs is they offer the selling Spanish Bank or Saving Bank a complete “Pre-Sales Management” of the properties which includes advising on any works that need completing and preparing the property for sale. In addition a full “After Sales” service. This is a one stop shop for both buyer and seller. Básico has over 1,200 properties under management and this figure is growing. If Básico Homes reputation is good enough for some of Spain’s best known Banks and Saving Banks it is good enough for me!

So let me invite you to join the debate on Spanish property and keep on reading this blog or follow us on Twitter. The new website is going live very soon.

Post written by Robert Evans
Manager
Básico Homes UK
robert.evans@basicohomes.com