However, (dare I say it) there seems to be a down turn in the cave market. External factors effecting prices, exchange rate etc. People are now being more careful with their money. Predominantly UK cave buyers are now looking at mortgage increases back home and if the media is to be believed devaluation on their own conventional UK house.
Now, I am no expert on the financial/housing market but what I can do is mention a few examples of how the cave "boom" appears to have peaked and is now on a modest slide. For example 3 caves in Orce that were on sale in 2006/7 are now reduced in price by as much as 15000 euros (average 10k) New caves to the market are being more reasonably priced from Spanish sellers - no more overpriced daftness. Estate agents are no longer flooded with serious buyers with money to spend and with the US economy giving most the jitters for the future cave sales have calmed down a lot.
The Boom (if thats what it could be called) appears to be over, prices have risen significantly over the past 4 years but every property growth must peak at some stage in the short term. That said, positivity reigns... there may be the beginnings of a downturn in the market but as always it will swing in roundabouts - next time around it may well be the average cave price could be 20% higher than it is now.
The publicity legwork has been done, tv exposure, press articles, magazine articles - the expat orientated Joe bloggs in the main now knows what a cave actually is having done his research on rural Andalucian property (hopefully)
Caves are different, the investment is different, sound investment for the future? Yes, then again some of us come here to live and start a new life in which case no problem on the selling front.
No doubt many will disagree! But hey, its only a blog! Feel free to leave your comments.
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