How much should you offer below the asking price? It’s often the most tense and emotional part of a negotiation. You don’t want to offend the vendor, but money is money and why pay over the odds? How much less do most sellers have to accept in Spain anyway?
We hear a lot about the glut of Spanish homes following overbuilding in the 2000s, but in the Balearics they have the opposite problem – so few available that holiday employees arriving for the season are struggling to find accommodation, while prices are rising steadily.
With a reputed one million Chinese millionaires looking for somewhere to spend their cash, it’s no wonder that the most desirable properties in the world are finding new Chinese owners. And where does your average Ultra High Net Worth Individual (UHNWI) want to be? Paris and the South of France of course – much like the rest of us.
Easter has always been the traditional time for property hunters to begin their property search and this is no less true of the foreign property market. France’s property market in recent years has been completely different from that in the UK; prices have not risen very much if at all and indeed in some areas have fallen, forcing sellers to become more realistic about their property’s worth.
There is no doubt that the property market in France remains fairly stable with prices having stayed the same or even decreasing in some regions over the past year or so. Financing your French property purchase deserves careful planning and in many instances it is well worth considering applying for a French mortgage.