When it comes to property sales in Spain, the asking price is paid in only 10% of the cases. That means that 90% of sellers fall in price during the sales process. For comparison: in the United States 35% sell their home without falling in price.
According to Francisco Fernández, director of the SIRA (Spanish International Realty Alliance) who, together with the American National Association of Realtors (NAR), investigated selling prices in both countries, inflating asking prices in Spain is ‘almost standard practise’. ‘Vendors take it for granted that they will get a counter offer and start off with an asking price that leaves them room for manoeuvre, in some cases as much as 20% higher.’
Not a good idea
Price inflating is not always a good idea, according to the SIRA. “Many house hunters have a budget limit,” says Fernández. In the case of inflated prices, some hunters may just ignore certain properties. As a result, both parties can miss out on excellent deals.
Inflation of prices in Spain is possible due to the lack of transparency. Independent price information is hardly available. And real estate agents do not benefit from transparency: the lack of it ensures that they can get away with higher commissions.
Are you interested in buildings in Spain for sale, market information or to ask us your question, please see the links hereunder.
Our offer Buildings For Sale in Spain
When you are interested in buildings, hotels and plots for sale in Spain, you are welcome to visit:
- Residential Buildings for sale in Spain
- Office & Co-working Buildings for sale in Spain
- Hotels for sale in Spain
- Plots for sale in Spain
Download for free our Flash Reports
Let us know if you want to receive periodically our Info Graphics and Flash Reports. Examples:
- Prices Barcelona, euros/m2 per district
- Hotel Investments Spain, +700% in five years
- Student Housing Spain, not enough rooms
- Office trends Spain: A-class, Co-working & International
Do you want to invest in Spain?
Do you want more information?
Visit our offices at Rambla de Catalunya 25 in Barcelona or Principe de vergara 73 in Spain.
Call us at 0034 93 215 12 23
Or mail us to email@example.com
We will anwer you within one working day