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Alfonso Lacruz's Newsletter October 2011
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TIMES ONLINE
RE/MAX Eralia (Oficina Principal—Head Office) Los Patios de Santa María Golf, local 13—14 29604—MARBELLA (Málaga) Spain RE/MAX Eralia II, Urb. Nueva Andalucía, Avda. Manolete, Centro Comercial Plaza, Local 62 y 63, 29660—MARBELLA (Málaga) Spain
Telf. (+34) 952 831200 Fax. ( +34) 952 830702 e-mail. [email protected] www.remax-eralia-costadelsol.com
Still a complicated market. Closed Transactions chart for Benahavis. By Alfonso Lacruz Associate Agent
(+34) 609 408 400 [email protected] www.alfonsolacruz.com
The data published by the Spanish Ministry of Housing shows it. The number of operations closed per quarter has gone down heavily in Benahavis to half of that of 2010. Furthermore, the prices are still going down as was shown in the last July report also issued by the Spanish Ministry. What is going on? It is difficult to say but, according to a number of real estate agents I work with, the news does not help and we are facing a lack of confidence in our market/country. We had the Japanese earthquake and the Greek crisis at the beginning of the spring and those events ruined what has been usually the best quarter of the year. The situation,
again based on our experience, has improved during the summer but it is tough to sell a prop‐erty. The conclusion can be only one: if you do not need to sell, don’t even try but if you have to, go for it and fix the most competitive price in your area.
A highlight from the NEWS AND BUSINESS-BUILDING IDEAS
October 2011
The news keep on coming out. The Bank of Spain has announced that they expect higher reductions in the price of the Spanish properties.
The Bank of Spain has announced that the price of the housing in Spain needs more adjustments. In an illustrative graphic, they show the tendency of the prices in this cycle compared to that of the previous real estate crisis of 1991 and 1979. If you follow that logic, there are still two years to reach the lowest level. Is that true? Probably no one knows what is going to happen but one thing is true, the actual tendency fits exactly on those previsions. That does not mean anything but people selling or thinking on selling in the near future have to consider seriously what the experts say when preparing their future real estate movements. There is also some‐thing important to be thought about by sellers: this report is on banking status and we all know that the banks, owners of a great number of properties, have a lot to say in this complicated real estate market. If the decide to go for it, they will break the market. It happened in the 1991 cycle, and it will happen again.
RE/MAX Eralia has ranked the no. 1 as the best RE/MAX office in Andalucia. Alfonso Lacruz has reached 5th in the same ranking.
Great Deal! Amazing villa: light, sea views and space. 999.000 €.
This time, Benahavis road.
July 2
011
Congratulations team ‐ new sale!
Deals of the Month
Los Arqueros Apartment: great terrace, great view and garage and storage included. 195.000 €