House prices in Spain

When you plan on moving to a different country it is very common to start the search on the Internet. What can we buy and how much do houses cost in our dream location? Now a days it is very easy to find all kind of property sites through the internet and before you know it you are clicking on all kind of houses. The one more luxurious than the other.

Even though we are not planning on moving until 2015, or so, it is very tempting to look for properties. We can't keep ourselves from looking at beautiful detached houses with swimming pools and palm trees. Properties which are just as expensive as our semi-detached!! We have been looking at properties for half a year now and we notice a decline in prices. Houses that were for sale for €250,000 are now reduced to €225,000 or even less. The property market in Spain is certainly going through a tough period right now.

We had a look on the internet to see if this trend with regard to the prices is a new development. To our surprise this decline has already started in 2007 and according to the figures the prices have dropped with a staggering 17%! Property prices near the coast have even dropped with 23%! Hopefully this will continue for some time, because then we will be able to buy a nice property for a low price. Who knows, maybe we will be able to afford a castle near the sea by the time we move to Spain! But, then again, it could also pick up again and we will be forced to buy an old ruin which we need to renovate completely. Until then we will just keep looking on the internet and dream about all those beautiful houses we can afford at the moment.