When we talk about Spanish real estate prices in the most demanded area, we talk about Marbella in the Costa del Sol. We can distinguish 3 main zones in the Costa del Sol: the eastern zone of Marbella, Marbella proper, and the western zone of Marbella.
The most requested type has been the 2 bedroom/2 bathroom unit with garage and storage, of some 80 constructed square metres.
We would be able to say that there is one basic rule referring to the price in this specific location of the Spanish real estate market: “the drop of this is directly proportional to the distance from the coast line and the golf course.”
Based on this, the average price for Bank Repossessions fluctuates:
All of these figures are approximate, since we can find ourselves with particular exceptions or with a change in the politics of commercialization of the banking entities. Also, the market changes very quickly.
The cash that the buyer should count on depends on who they are buying from. In the case of the banks, financing fluctuates between 80% up to 100% plus expenses, with which the client doesn’t need the cash. In the rest of operations, of individuals and property developers, one has to have approximately 40% of the buying price in cash.