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Swedish House Hunters Buy Balearics

Reported by Joshua [Trackitdown] on July 5, 2012

Cash rich Swedes are reportedly buying up bargain properties in Spain and Ibiza after continuing house price falls saw drops of up to 24% year on year.

Real estate website PropertyCommunity.com said Swedish buyers are replacing cash strapped Brits with one agency reporting that (Swedish) requests increased by 58% during the first quarter of this year, and nearly one quarter of all resale properties were sold to Swedish buyers.’

“Apparently the financially stronger nations in Europe are beginning to recognise the bargains the Spanish economic climate currently presents,” the site suggested (PropertyCommunity.com) http://bit.ly/MQ6LxF)

The latest report contradicted the findings of the Financial Times who last month noted that though prices dropped by 8% in 2011, homes remain ‘179.7 per cent more expensive than the national average’ with expensive ones particularly still in demand.

“Properties that are well located, with good views, are currently retaining their value,” Savills estate agent Cathy Ouwehand told the FT. “Demand for properties over €1m is strong because demand outstrips stock in this price bracket.” (FT: http://on.ft.com/LWnSxW)

Knight Frank estate agents added that Ibiza is currently most popular ‘with buyers from the Netherlands, Germany and Russia’.

In more Swedish house news, DJ Sneak revealed he’s been booked for his second gig in Sweden and kept up his ongoing feud with Swedish House Mafia after Axwell Tweeted ‘Dj sneak is not an original house gangster - he is a bitchy old grumpy bitter man ! Well established fact’.

“@Axwell is that the best you can come up with? high school talk?” Sneak replied.

“Bitter about what? I was here before you & will be after you're all gone,” he predicted.

Jonty Skrufff: http://listn.to/JontySkrufff