The site – Spanish-real-estate.co.uk – was created in response to the extraordinary opportunities in the Spanish property market that the ongoing economic crisis has created. Daniel Talavera, a spokesman for the site, said: “We wanted to bring the cheapest properties for sale and investment from some of the most popular areas of Spain to the UK market and as quickly possible.” The cheapest property originally offered on the site was a 2 bedroom apartment in Torrevieja which was sold to a London couple for only €19K (£13K). The site now offers something to suit every pocket, from modest holiday homes and apartments in popular resorts to palatial country houses and farms.
In the property portal there is something for everyone. Some are apartments fully fitted out with appliances and ready to move into. Others need a little work and some are real ‘fix-me-ups’ which, with some love and attention, offer huge possibilities to create the buyer’s dream home.
Currently there are more than 1,500 properties on the site, with many more still to come. Sixty-five percent of these properties are offered for sale by their owners, while the rest are being sold through Spanish estate agents. Each group struggles to reach the UK market because of the language barrier and that is where Spanish-real-estate.co.uk comes in.
Accordingly to Daniel: “The owners send us pictures and descriptions of their homes in Spanish and we translate it all for them and offer it to our British clients. We much prefer dealing with private vendors because it’s their properties that offer the best value for money, and are therefore most attractive to UK buyers. This is because private sellers don’t pay an agency fees and so can negotiate more easily when it comes to price”.
“It has been a very exciting and successful year for Spanish-real-estate.co.uk and we’ve really carved a name for ourselves in the UK market. The site has become hugely popular with prospective buyers and a growing referrals network, and not only in the UK. “We never would have thought that German clients would be so interested in the Vallecas district of Madrid, or that Brits would start searching for holiday homes in Salamanca! This year we expect to have a huge range of really good properties at very affordable prices. The economic situation is keeping prices down generally, and is also forcing sellers to reduce their asking price during negotiations.”
Daniel ascribes much of their success in this first year to the personal touch. The team at Spanish-real-estate.co.uk does not use automated systems for importing large quantities of property details. Rather, each individual property description is processed manually by one of the team in consultation with the owner. This slows things down a little, but with particular owners who cannot write English that is the most effective solution.
Of course, it also means that there is a backlog of properties waiting to be posted which have been offered by vendors looking for a quick sale. These properties – about 340 at the moment – are offered to prospective buyers when they show that they are looking for something similar. Although the team at Spanish-real-estate.co.uk are seeking to offer UK buyers excellent properties at bargain prices, they are very aware that reputation is very important in this market, and so they do not offer substandard homes for sale on their site.
There are some real bargains on the site, as well as some amazing and crazy properties, and each has its own story.
First UK Spanish portal of low cost property investments celebrates its first birthday