A Good Time to Buy Property in Spain Right Now?

It's well known that the Spanish Housing market has been at the backbone of the economy for the past ten years or so, and that the crash of last year has had a knock on effect for many industries, leaving many blocks of apartments in ghost towns, or many projects half abandoned, with each party blaming each other. A perfect example is the proposed renovation of Las Arenas Bull Ring in Barcelona - where despite going over the provisional date twice, organisers of the project are still bickering over whose fault it is that work has stopped.



So what about buying property? Well, due to the market almost being frozen at the moment, there are some fantastic bargains to be had if you look in the right places. Prices are being slashed and Luxury Estate agents in Barcelona and other cities will help you find the property of your dreams at a fraction of the cost you thought you might have to part with.

The Euribor also keeps on falling (although August's has not been published as yet), meaning that the base rate of the interest you will be paying on any loan you take out will be at rock bottom - the lowest in history. Banks and Cajas are also giving out loans for longer and longer periods - up to 50 years for mortgages in some cases, meaning the repayments can be manageable in this financial downturn.

For Real Estate in Barcelona, contact Modus Vivendi, whose portfolio of excellent properties are bound to fulfill your expectations.