British buyers are back out in force.

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This topic contains 17 replies, has 10 voices, and was last updated by Profile photo of angie angie 6 years, 1 month ago.

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  • #55927
    Profile photo of Anonymous
    Anonymous
    Participant

    It must be true. PrimeLocation say that is the case and Kyero – From whom I normally expect better – have run it without question.

    http://news.kyero.com/2010/10/25/holiday-home-buyers-eyeing-european-bargains/

  • #101306
    Profile photo of angie
    angie
    Spectator

    I can’t quite see that Brit buyers are back in force, there may be more searches going on for bargains but the current exchange rate would make it both prohibitive and maybe a little dangerous in sterling terms to buy now, or, some are being seduced by sun/lifestyle hopes and just don’t care about the above, maybe they’re so fed up with UK.

    Then of course there’s the million + unsold overhang of Spanish property to sell and of course the exhorbitant transaction costs, to me it makes no sense whilst these problems exist, but just my opinion 🙄

  • #101311
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    remember the article says ‘searches’ on the portal have increase by X percent.

    Although I would be quite happy to find out that all these people are coming down to buy (preferably through my agency 🙂 ), more than likely most of these people are just dreaming as things for them are bad in the UK, the weather is bad, etc….

    when these people are actively searching for property in spain and not window shopping over the internet then there will be something to report about!

  • #101312
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    I also wish they would not only include percentages, but hard figures.

  • #101316
    Profile photo of Anonymous
    Anonymous
    Participant

    Fuengi, the weather here has been superb, a really glorious Autumn….although rain tomorrow! 🙁

  • #101320
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @Claire wrote:

    Fuengi, the weather here has been superb, a really glorious Autumn….although rain tomorrow! 🙁

    wheres ‘here’?

  • #101324
    Profile photo of Anonymous
    Anonymous
    Participant

    To pretend that that the battered beleaguered Brit is about to mop up much of that unsold Spanish property is nonsense.The increase in searches for Spanish property must be down to the fact that online is the only way now to look for properties. Searches have increased simply because we are at last getting used to going online for info rather than buying dead news printed on dead trees. And there is nowhere better to look.
    Since those heady days of Spanish property exhibitions every weekend (somewhere) and all the glossy magazines went bust we are left with online searches – highly interactive and more up to date and detailed info than any magazine could have dreamt of.
    Primelocation might puff it up as an increase in buyers, but it’s just an increase in people in a dreary austerity Britain with computers, sitting and (freely and easily) clicking on excellent sites such as Kyero etc rather than buying a mag full of outdated ads and biased info. Or going to an exhibition to look at little Monopoly houses dotted around a golf course (invariably in Murcia) with a 5 star hotel planned for that gap in the middle. (Let alone heading to Spain on an all expenses paid weekend in the sun in the form of an inspection flight. Remember them? )

  • #101325
    Profile photo of Anonymous
    Anonymous
    Participant

    @davieboy wrote:

    To pretend that that the battered beleaguered Brit is about to mop up much of that unsold Spanish property is nonsense.The increase in searches for Spanish property must be down to the fact that online is the only way now to look for properties. Searches have increased simply because we are at last getting used to going online for info rather than buying dead news printed on dead trees. And there is nowhere better to look.
    Since those heady days of Spanish property exhibitions every weekend (somewhere) and all the glossy magazines went bust we are left with online searches – highly interactive and more up to date and detailed info than any magazine could have dreamt of.
    Primelocation might puff it up as an increase in buyers, but it’s just an increase in people in a dreary austerity Britain with computers, sitting and (freely and easily) clicking on excellent sites such as Kyero etc rather than buying a mag full of outdated ads and biased info. Or going to an exhibition to look at little Monopoly houses dotted around a golf course (invariably in Murcia) with a 5 star hotel planned for that gap in the middle. (Let alone heading to Spain on an all expenses paid weekend in the sun in the form of an inspection flight. Remember them? )

    You forget to add that also 99% of those searches are Brit owners looking to off-load their property and are searching for similar properties to gauge the market.

  • #101326
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    Do you think these information that primelocation supplies is aimed as potential buyers or at trying to entice more agents to advertise on their site?

    I’m sure they had a large percentage increase in searches last year aswell.

  • #101334
    Profile photo of Inez
    Inez
    Participant

    I think you have it about right there Fuengi!

  • #101400
    Profile photo of Anonymous
    Anonymous
    Participant

    @angie wrote:

    I can’t quite see that Brit buyers are back in force…..the current exchange rate would make it both prohibitive and maybe a little dangerous in sterling terms to buy now

    I can’t see this situation changing anytime soon.

    Forex website today:
    PMI construction in the U.K. plunged to its lowest level since February of this year, worse than expected amid government spending cuts.
    The economic outlook is negative with new concerns for growth in the UK.

    As a result of these announcements, Sterling is taking a further hammering on the markets today – but only a light ‘tap’ re. the poor old US$. 😉

    Will be interesting to see if the BoE decides to do anything re. interest rates, due to be announced in a couple of days.

  • #101402
    Profile photo of Anonymous
    Anonymous
    Participant

    I agree that it seems highly unlikely that Brits are going to return to Spain in great numbers for the reasons already stated.

    I have, however, noticed a strange development on the ground where I live, not in the strange internet world of fluff, rumours and deforming mirrors.

    Around three years ago, the biggest estate agents in this area, two English and one Dutch, ceased trading when the recession started to bite. They leased their large premises to charity shops and disappeared.

    Within the last three months, they have all returned and re-opened their estate agent businesses. Their windows are again brimming with properties, albeit it at prices around 40% lower than when they closed.

    I can’t usefully comment on why this has happened, but it has. I was sipping my coffee in a Spanish bar right next door to one of the re-opened premises this afternoon and saw a steady stream of what appeared to be British people going through its doors.

  • #101410
    Profile photo of Anonymous
    Anonymous
    Participant

    Rocker the Brits were probably looking to see where prices were at..as a yardstick for their own properties.

    Anyone who even considers buying along the CDS needs locking up for their own protection. The corruption goes from the bottom to the top. I know from experience as the Court in Marbella has still not paid us our money from our recent Court case against a law firm. They’ve held it since the15th September, despite our Lawyers best efforts to get them to hand the money over. 😈 😈 😈 WHY ARE THEY KEEPING IT? The case is done & dusted…WE WON, the law firm eventually paid the money they owed us into the Court. I AM INCANDESENT (sp?) WITH RAGE! 👿

  • #101411
    Profile photo of angie
    angie
    Spectator

    Hi Claire, that’s dreadful news regarding your money still unpaid, I hope you get it very soon.

    As we’ve all said before, the sooner the Spanish Gov’t acts positively to speed up their awful, slow, (Corrupt?), legal system, and property industry including high completion costs and all the other problems so often reported, the better their economy will benefit.

    With all these never ending problems and bad Press, it’s little wonder that Brits still feel unsafe buying in Spain, it’s all very well a well meaning agent, developer or lawyer trying to re-assure people but so often it still goes wrong, then of course there are those who still deliberately deceive people. It all needs proper regulation and action. 🙄

  • #101409
    Profile photo of Anonymous
    Anonymous
    Participant

    @Claire wrote:

    Rocker the Brits were probably looking to see where prices were at..as a yardstick for their own properties.

    Anyone who even considers buying along the CDS needs locking up for their own protection. The corruption goes from the bottom to the top. I know from experience as the Court in Marbella has still not paid us our money from our recent Court case against a law firm. They’ve held it since the15th September, despite our Lawyers best efforts to get them to hand the money over. 😈 😈 😈 WHY ARE THEY KEEPING IT? The case is done & dusted…WE WON, the law firm eventually paid the money they owed us into the Court. I AM INCANDESENT (sp?) WITH RAGE! 👿

    You could well be right about people trying to establish the value of their own property, although I suspect that the silliness from years ago will return eventually, the lure of a house in the sun will never go away.

    I’m sorry about your court case and your comments on Spanish corruption at every level are spot on. The British crooks that helped the Spanish crooks are still around too, vultures waiting for the corpses to rot.

    What amazes me is that the crooked Brits who left when they realised they were going to get their collars felt, the big boys, have come back and one that I have personal knowledge of, still uses the same name, altered slightly.

    I watched them put the new signs up outside a new office, with the same people inside. Surely the Spanish authorities are not that stupid? Sadly, I suspect it’s not stupidity, the CDS is not the only place overflowing with greed. You’d think they would have changed the number plates on the Rolls Royces, but they haven’t.

  • #101407
    Profile photo of Anonymous
    Anonymous
    Participant

    NO JUST CHANGED THE ROLLS ROYCE

  • #101413
    Profile photo of Anonymous
    Anonymous
    Participant

    saw a steady stream of what appeared to be British people

    Probably Germans in Zara gear and therefore indistinguishable. They have returned to Spain in big numbers holiday wise. Economy is strong so might be bonkers enough to be tempted by the distress sales etc in windows if they’ve had enough sangria/foaming beakers of ale.

  • #101414
    Profile photo of angie
    angie
    Spectator

    Rocker, could you let us know the names of some agents who might have re-invented themselves, I don’t think that would fall foul of posting here, and then we could keep an eye so to to speak?
    We might have dealt with them in a previous life too? 😉

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