In Spain there is no such thing as a formal valuation apart from what the bank will do for mortgage or disposal purposes which is often inflated for the mortgage or reduced for the disposal or auction sale
You should be very careful if an agent is giving you the valuation as in the current climate they will try to list the property as cheaply as possible to sell if so key is doing your own research first, look at the property sites like Kyero to see what's listing, how much are the new properties on United being listed for and how much cam you actually afford to sell for, remembering all of the costs
There are buyers out there, mainly Scandinavians, who can be picky and are very aggressive on prices, typically if you are taking them viewing they will want to see 20-30 properties but they will actually buy
The truth is, that in the current climate, a property is only worth what somebody is willing to pay for a property that meets their needs and you are competing with villas of la Torre selling for €140k and new properties on Condado for €73k
The best solution however still remains, if you can afford it, is to get a long term tenant in to cover the bills and mortgage and ride it out for the next 3-4 years as the values will come back with all of the investment going on in the area.
In my own case, because of the reduction in new property snagging inspections, I have had to diversify and now have a rental and sales operation and have been doing pretty well, 9 long term rental contracts in the last 11 weeks, mainly Spanish people that work in Murcia plus some new arrivals form the UK and Norway
The sales side is new but have a few prospects already because it is often people that come over and rent and discover the area the next conversation is often is what's the prices for properties in this area. I already have 2 visits in the New ear doing exactly that
Take a look at the website
www.corveraholidays.com
