Let’s hear you guestimates, the Spanish property market…

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This topic contains 48 replies, has 15 voices, and was last updated by Profile photo of Anonymous Anonymous 6 years, 6 months ago.

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  • #55565
    Profile photo of Anonymous
    Anonymous
    Participant

    A few things have changed over the last weeks, unemployment has increased again, the Greek tragedy seems to be destroying confidence in the Euro zone, and yet the pound isn’t really making decent gains against the troubled Euro.

    It seems that there is a different type of estate agent selling in my area, and they are selling repossessions, possible they start of some real repo disposal?

    Spanish friends used to talk about recovery next year, but now it’s all doom & gloom. They aren’t even remotely interested in buying a new home now.

    Sellers are still often asking close to boom prices, but a sizeable proportion (of spaniards) are clearly very open to offers.

    The Spanish economy is in serious trouble, and I see no sign of improvement in the next year or so.

    Expat urbs (in my area) are still making a few sales, so this looks like it will continue to trickle along. Anyone seriously expect a “recovery” here?

    Anyway, the point of my post, when is to bottom coming? Predictions for further percentage falls? I know that no one knows, but it’s still interesting to hear your views.

    And FWIW, I don’t see a bottom until prices fall still further, at least another 10% this year, in my area I still think that prices are at least 15% over (my idea of) sensible value. And, given the economy, I’d expect prices to get significantly below my sensible value idea.

  • #98169
    Profile photo of katy
    katy
    Spectator

    @El anciano wrote:

    the pound isn’t really making decent gains against the troubled Euro.

    Yes, strange, sterling down slightly against the euro today.

    It seems that there is a different type of estate agent selling in my area, and they are selling repossessions, possible they start of some real repo disposal?

    Nothing new there, agents are advertising “repos'” all over the web. Most expensive repos’ in history 🙄 One only has to take a look at private sales on here, majority are well overpriced.

    Spanish friends used to talk about recovery next year, but now it’s all doom & gloom. They aren’t even remotely interested in buying a new home now.Yes I think apathy has set in. People aren’t interested in buying a house right now, even if it’s a bargain.

    .

  • #98170
    Profile photo of Anonymous
    Anonymous
    Participant

    I have no idea what a sensible value would be…

    Around what would the “sensible value” be in the area you are searching?

    I was for 4 weeks in USA (3 normal, 1 due to Iceland ashes). I stayed 1 week at some friends in Las Vegas. The amount of unsold property there is quite staggering. Hundreds of developments are looking for buyers. New 1 bedroom apts.are offered for less than $20K and nobody buys… People there are much more worried about food than buying property… Old apartments are offered for
    almost nothing (couple of thousands $ or maybe hundreds if one bargains hard…) but people do not have money to pay the community fees and taxes… Rents go for $400/month whereas community+taxes are about the same so why bother buying?

    Is it something like this expected in bad Coastal areas of Spain in the future?

    On the other hand, in Santa Barbara (the equivalent of Marbella) prices are 25%
    under the 2006-2007 peak and seem to be stabilizing… And the tourists seem to return (maybe they are in the eye of the hurricane and the worst is still to come).

  • #98172
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    I think we should look at the areas in question. There are areas where I would say prices appear to be stabilising. But these are areas where there was demand prior to the property boom.

    The problem is in the areas where demand was artificially stimulated by developers/agents/politicians.

    I think before making any ‘guestimates’ (hate the word by the way) we should clarify who want/eds to buy in the area and why.

  • #98173
    Profile photo of Anonymous
    Anonymous
    Participant

    @flosmichael wrote:

    I have no idea what a sensible value would be…

    Around what would the “sensible value” be in the area you are searching?

    I look to what a young Spanish couple could afford, and then consider what I think is a reasonable, average home. Also, how much they (or I) would want to strain the monthly budget in mortgage payments to get something “better”.

    For example, you can get an OK, but not great 3 bedroom terrace for 135K, it seems to me that this is still too high. 120K makes these OK value to me, but I would expect them to fall lower.

    I am also seeing plenty of scruffy, detached houses, circa 150m2, 2000m2 plot for 220-400K. in my view these should range from 150-220K. And the houses that are 400K are really nothing special, just uninformed or unrealistic sellers.

  • #98174
    Profile photo of Anonymous
    Anonymous
    Participant

    @fuengi wrote:

    I think we should look at the areas in question. There are areas where I would say prices appear to be stabilising. But these are areas where there was demand prior to the property boom.

    The problem is in the areas where demand was artificially stimulated by developers/agents/politicians.

    I think before making any ‘guestimates’ (hate the word by the way) we should clarify who want/eds to buy in the area and why.

    I’m in Alicante, so we had plenty of hype here. Feel free to make comments on specific areas.

    Sorry, you don’t like the word, but it seems to fit the topic well

  • #98175
    Profile photo of Anonymous
    Anonymous
    Participant

    >I think before making any ‘guestimates’ (hate the word by the way) we should >clarify who want/eds to buy in the area and why.

    Eventhough I only now better Riviera del Sol on CDS, let’s say:

    – how much do you think that a 2 bedroom in Riviera del Sol will be at the bottom?

    Consider this

    http://www.idealista.com/pagina/inmueble?codigoinmueble=VW0000002915777&numInm=7&edd=list

    or this

    http://www.idealista.com/pagina/inmueble-fotos?itemOrder=10&numInm=10&edd=list&codigoinmueble=VP0000002707833

    Is a 25% reduction (i.e. say 75K Euros) close to the bottom price?

    – what about this Mijas Golf?

    http://www.idealista.com/pagina/inmueble?codigoinmueble=VP0000003197520&numInm=1&edd=list

    Is a 25% reduction (i.e. say 60K Euros) close to the bottom price?

  • #98178
    Profile photo of Anonymous
    Anonymous
    Participant

    @El anciano wrote:

    For example, you can get an OK, but not great 3 bedroom terrace for 135K, it seems to me that this is still too high. 120K makes these OK value to me, but I would expect them to fall lower.
    .

    How much does one pay to rent such property?

  • #98179
    Profile photo of Anonymous
    Anonymous
    Participant

    Long term, I would expect to pay 500€ max, probably 400-450€ is possible now.

  • #98180
    Profile photo of Anonymous
    Anonymous
    Participant

    @El anciano wrote:

    Long term, I would expect to pay 500€ max, probably 400-450€ is possible now.

    150 Euros (at least) would probably be the community fees.
    20% tax on rental income
    Property taxes
    Wear and tear…

    Not much remains out of 400-450 Euros

  • #98181
    Profile photo of Anonymous
    Anonymous
    Participant

    IIRC, I think the urb fees were 80-90€.

    I have never known a landlord to rent a house “legally”. I’m sure the vast majority don’t pay the rental tax.

    But, even so it seems like you points should drive prices lower.

  • #98182
    Profile photo of Anonymous
    Anonymous
    Participant

    @El anciano wrote:

    I have never known a landlord to rent a house “legally”. I’m sure the vast majority don’t pay the rental tax.
    .

    I would not do that as a foreign owner…

    I have no idea if the current prices are the bottom ones. Maybe they are.

  • #98184
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @flosmichael wrote:

    – how much do you think that a 2 bedroom in Riviera del Sol will be at the bottom?

    At bottom? no idea but I will say this:

    http://www.idealista.com/pagina/inmueble?codigoinmueble=VW0000002915777&numInm=7&edd=list
    worth about 81.000€

    http://www.idealista.com/pagina/inmueble-fotos?itemOrder=10&numInm=10&edd=list&codigoinmueble=VP0000002707833

    Interesting price. But higher up in riviera than the previous one. No views, small bathroom. I would guess north facing. Looking for to sell as a holiday home. PRoblem is more people who want a holiday home want larger bathroom, sunny terrace, etc… Also the property looks quite tired. But it should value up quite well considering

    – what about this Mijas Golf?

    http://www.idealista.com/pagina/inmueble?codigoinmueble=VP0000003197520&numInm=1&edd=list
    interesting, but far out, not great qualities, 60m2 over 2 floors. no lift. Willing to be high community fees. Good price, some rental potential if cheap enough.

  • #98186
    Profile photo of katy
    katy
    Spectator

    Wouldn’t guess anything but none are suitable for living in full-time unless as a starter home for a couple. Therefore all are overpriced. Note that none have 2 bathrooms which I thought was fairly standard in Spain.

    Calypso is full of old apartment blocks in a bad state, not to mention the type of people!

    Mijas golf is about 20 mins drive to the sea, maybe more as the traffic can be horrendous.

  • #98190
    Profile photo of logan
    logan
    Participant

    Most sellers of property in Spain still live in la la land. Totally unrealistic prices. The few people who do buy now will loose money as eventually the catastrophic state of the economy tips everything over the edge.
    Soon banks will be off loading or should I say dumping property from their non performing asset portfolios onto the market. Estimates vary but around 1 million properties needing to be sold is a disaster. The banks will soon be forced to cut and run. That’s when the real bargain hunting can begin. A great deal of property in Spain is already worthless. Apartments built in the seventies, ugly and awful coastal developments where the land is worth more than the buildings.
    Property is only worth what someone will pay for it. Anyone who does any quality research of this market will stay away for a very long time.

  • #98193
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    Logan are you still looking at properties in Almeria/murcia? hows that going?

  • #98194
    Profile photo of logan
    logan
    Participant

    @fuengi wrote:

    Logan are you still looking at properties in Almeria/murcia? hows that going?

    I have visited many developments over the winter. Talked to a lot of bankers. (I don’t any longer deal with agents) but as my last post indicates I will not enter this market until I see some meaningful change.
    I invest in multiples and am waiting now until the Murcia golf resort repos drop about 30% from current bank selling rates. Even then I will need some convincing I can sell on with profit within 2 years. That is because costs and taxes need to be factured into the bottom line. In any case there’s no demand. Right now that’s impossible. Most investors are staying away for the same reasons. The market is moribund.

  • #98195
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @logan wrote:

    @fuengi wrote:
    Logan are you still looking at properties in Almeria/murcia? hows that going?

    I have visited many developments over the winter. Talked to a lot of bankers. (I don’t any longer deal with agents) but as my last post indicates I will not enter this market until I see some meaningful change.
    I invest in multiples and am waiting now until the Murcia golf resort repos drop about 30% from current bank selling rates. Even then I will need some convincing I can sell on with profit within 2 years. That is because costs and taxes need to be factured into the bottom line. In any case there’s no demand. Right now that’s impossible. Most investors are staying away for the same reasons. The market is moribund.

    so realistically for that area, you’ll probably be looking in 2 years or so again?

  • #98198
    Profile photo of logan
    logan
    Participant

    Probably not.

  • #98200
    Profile photo of peterhun
    peterhun
    Participant

    There is going to be five years or more of a dead market in Spain. It will require a recovery in the UK market first – with five years of increased interest payments heavy taxes and massive job losses to come before that happens.

    The affordable figure I saw for Spanish couples is more like 80K euro’s and of course that would be local to well paying job when the Spanish economy is in a healthier state.

    You have to take a very long term view with prices, the bottom won’t come now or next week or next year. It will come when people are no longer deluded about the real value of property and give up on it.

  • #98206
    Profile photo of logan
    logan
    Participant

    @peterhun wrote:

    You have to take a very long term view with prices, the bottom won’t come now or next week or next year. It will come when people are no longer deluded about the real value of property and give up on it.

    Agree entirely.Spanish Property is a busted flush for a generation. You may as well invest in Greek bonds. 😀

  • #98209
    Profile photo of Anonymous
    Anonymous
    Participant

    For private and personal reasons I need to keep an eye on the Spanish property market and I read all there is to read and regularly contact estate agents and banks, and anyone else who knows about the market.

    Nobody, and I mean nobody, knows where it is going, but the general consensus is that it will fall further. I read only minutes ago that English property prices have risen by 7.5 percent over the past year, which surprised and pleased me, but the two markets can’t be compared, for a myriad of reasons, membership of the Eurozone being the obvious one.

    Unless my hand is forced, I will not be selling in Spain at this time, and I wouldn’t dream of buying here for the foreseeable future. I would estimate that prices have fallen by 40% over the past two years and the only green shoots that I can see are in my garden, and they’re weeds.

  • #98210
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @logan wrote:

    Probably not.

    so what sort of property are you looking for and at what price?

  • #98211
    Profile photo of Tinnat
    Tinnat
    Participant

    To all seasoned investors/market observers on this post: do your comments about the market remaining at the bottom end apply to all of Spain? What about the typically non-tourist areas – Barcelona, Madrid, etc?

  • #98212
    Profile photo of Anonymous
    Anonymous
    Participant

    My feeling is that places where work is more abundant would support the market, but with unemployment getting so bad, the market everywhere will be badly hit. Madrid has it’s fair share of unemployment now, but my guess is it (and the other big cities) will recover quite well when Spain starts to come out of recession.

    The other (non expat) areas of the country will trail behind dramatically, and IMHO will never bounce back. As for all the expat areas, it’s a lot more difficult to predict, although these areas have been hit hard in recent times, I think that they will continue to pick up the odd sale, and will probably out-perform the natural indigenous market for the next couple of years.

  • #98213
    Profile photo of Anonymous
    Anonymous
    Participant

    Talking about the ‘Spanish property market’ often misses the point. The marke is made up of lots of segments that can and will go in very different directions.

    I’m going to set up threads to discuss specific segments. That’s the only way to make sense of it.

    Mark

  • #98214
    Profile photo of logan
    logan
    Participant

    @mark wrote:

    Talking about the ‘Spanish property market’ often misses the point. The marke is made up of lots of segments that can and will go in very different directions.

    I’m going to set up threads to discuss specific segments. That’s the only way to make sense of it.

    Mark

    I think I suggested that in a regional context some time ago. The market in Spain differs region to region.
    Fuengi. Please stop trying to sell me property. 👿

  • #98215
    Profile photo of Anonymous
    Anonymous
    Participant

    @fuengi wrote:

    @flosmichael wrote:
    – how much do you think that a 2 bedroom in Riviera del Sol will be at the bottom?

    At bottom? no idea but I will say this:

    http://www.idealista.com/pagina/inmueble?codigoinmueble=VW0000002915777&numInm=7&edd=list
    worth about 81.000€

    http://www.idealista.com/pagina/inmueble-fotos?itemOrder=10&numInm=10&edd=list&codigoinmueble=VP0000002707833

    Interesting price. But higher up in riviera than the previous one. No views, small bathroom. I would guess north facing. Looking for to sell as a holiday home. PRoblem is more people who want a holiday home want larger bathroom, sunny terrace, etc… Also the property looks quite tired. But it should value up quite well considering

    – what about this Mijas Golf?

    http://www.idealista.com/pagina/inmueble?codigoinmueble=VP0000003197520&numInm=1&edd=list
    interesting, but far out, not great qualities, 60m2 over 2 floors. no lift. Willing to be high community fees. Good price, some rental potential if cheap enough.

    How much were these apartments worth at the top (2005-2006)?

    What do you think to be a realistiv value for any of them? You mentioned 81K for the first. How did you come up with that value?

    How much are the community fee in Mijas Golf?

    I guess in a recession period people who want a holiday homemight be inclined to lower the demands subtantially and put the price way above any other requirements…

  • #98217
    Profile photo of Tinnat
    Tinnat
    Participant

    Thanks Mark! Different threads for different areas would be very helpful!

  • #98218
    Profile photo of katy
    katy
    Spectator

    Seriously anyone who is looking to Spain for investment, in any region must be barking mad. I know someone who has been trying to offload investments on the CDS since 2005. He is from Iraq and very canny, been in Spain since the early 80’s. He has now moved out of Spain and has managed to shift some properties but still stuck with some. They are costing money as he cannot rent them, rates and taxes need to be paid. Not only that the prices are still on a downward spiral.

    I know someone who bought an apartment for investment in Mijas Costa last year. Thought he had a bargain because it was reduced from 185,000 to 140,000. Also claimed to have a long term rental which “disappeared” after he bought 🙄 Apartments in the same block are now selling for around 125,000, plus he is paying monthly community fees and annual taxes…bit of a loss there!!

    I don’t think cities will be much different. Barcelona has the highest number of foreclosures. According to all the financial news coming out of Spain it is in meltdown and no light at the end of the tunnel until 2016. My opinion is the only people who fall for “investment opportunities” are the ones who fell for the Timeshare concept

  • #98220
    Profile photo of logan
    logan
    Participant

    Watching the Spanish market is turning into a sort of gruesome spectator sport. We all wonder how far can it fall, how much can institutions loose before they collapse. When will an upturn come.
    Everyone involved in property in Spain has been in denial since the market fell. Agents desperately talk things up as they try to sell you the latest great bargain. Bankers sit behind their desks waiting for the world to fall in. Politicians fiddle the figures hoping nobody will notice.
    Meanwhile the markets erode slowly their credibility and stand ready with the hatchet.
    I ask myself why I still do it Why I waste my time trying to second guess when timing may be right or wrong. Reading this into that and going round in circles when the reality is the end game.
    Well today after reading some forward data on economic prospects for Europe I have quit. I have stopped banging my head against a wall and I’m moving on. I am simply no longer interested. The market can fall into the abyss and I still won’t invest. Why?
    Largely because there just is no future in it, no hope of a turnaround for a very long time, just more and more of the same thing.
    Spain used to be a place where investment brought a decent return. Times were good for a while, a long while. Now it’s finished for at least a generation. Everything has a beginning and an end.
    The Spanish and the British have a very high level of household debt. So do their governments. Austerity is coming for all and for years to come no one will be buying anything. Just simply surviving.
    The Greek experience should be a wake up call to everyone. The old adage ‘sell in May and go away’ seems very valid.

  • #98222
    Profile photo of peterhun
    peterhun
    Participant

    I ask myself why I still do it Why I waste my time trying to second guess when timing may be right or wrong. Reading this into that and going round in circles when the reality is the end game.

    I can to the same conclusion, I took out a five year personal loan and bought a farm in Poland instead. At 8.8% its not far from what I expect mortgage’s to be at shortly, there is no charge against the property (its unsecured) and I expect it to have significantly increase in value. In five years time Spain maybe – just maybe – worth looking at again. In the meantime I expect to double asset value in (Euro’s) and being a farm it also provides a cash income (plus tax advantages).

    Look at what happened in the last UK property crash, five years is being optimistic given the massive over hang of property. You have to look at the fundamentals – where is the money going to come from to support current prices, never mind the significant increases needed to cover the cost of buying? It simply isn’t there, in the UK, Ireland or Spain (and the French are not going to be much interested either). Many other countries have better potential, for instance when Greece gets kicked out of the euro there will probably be an instance devaluation of 40%. Other countries don’t hammer you with taxes and cost to buy. Spain’s attitude is that foreigners are a cash cow, now they have got millions of them stuck there it will be ‘tax tax tax’ in one way or anther.

  • #98224
    Profile photo of katy
    katy
    Spectator

    Your attempts to promote Polish property are laughable. People have already been stung in Eastern Europe. I would consider giving away my money to a charity before I threw it down the drain in Poland 😆

    I also personally know some Jews who are trying to reclaim property in Poland and there are thousands more.

    You speak about the UK market, maybe the gains cannot continue. However, since we bought a property here last year properties have increased in price by 10% (more is some areas). Average selling time 4 weeks. Was not bought for investment, just to spend more time in the UK. Better than having your savings stuck in some godforsaken country whose Laws we are not familiar with and paying some rip-off local to administrate said property.

  • #98225
    Profile photo of logan
    logan
    Participant

    UK property will always be a good long term investment. Even in the downturn it’s not fallen off a cliff. That is because demand always exceeds supply. The UK does not have close to 21% unemployment and is not dependent on second home buyers from other countries. The country is politically stable and corruption is low. The market is very different to Spain. Buy to let always does well. However short turn gains are difficult.
    I have looked as Eastern Europe and Poland and although property is cheap comparatively most of their economies are struggling. Corruption is similar to Spain and much worse in Bulgaria and Romania.
    I’m looking at Croatia quite seriously at the moment but the same problems exist. As I said; sell in May and go away seems right now the best option. (I’m spending the summer in the Scottish Highlands). 😀
    I’m also expecting a downward adjustment in equities quite soon. 🙁

  • #98227
    Profile photo of katy
    katy
    Spectator

    Will people want to buy even if prices dropped further? Tourism is down and this will be compounded by the ASH fiasco. This week a large slick of what the Authorities call “nata” has appeared on the sea east of málaga. Locals all know it is actually untreated sewage. As one commentator crudely put it “Who wants to come to the CDS to swallow shit” There was also photos of sewage on a Marbella beach. revealing this incident the Iquierda Unida party said it was spotted before semana santa holiday but they didn’t want to say anything until after the holiday so as not to affect tourism 😯

    Then there is the landscape of ugly buildings perched on every mountain. I don’t believe that price is the only factor to kick start the property market, infact I don’t think there are many who are even monitoring spanish property prices.

    Still the weather is nice on the CDS this weekend 😀

  • #98242
    Profile photo of angie
    angie
    Spectator

    Further evidence katy that Spain really is in the ‘poo’. For some reason sewage seems to be more of a problem along Spain’s Med Coast than in the Eastern Med. I would not swim in Spain’s waters apart from those of the Balearics and Canaries.

    You’re quite right about hilltops along the Coast completely covered by urbanisations how anyone can really say the CDS and C. Blanca have attractive coastlines beggars belief. It used to be attractive but Spain’s greed took over.

  • #98243
    Profile photo of Anonymous
    Anonymous
    Participant

    “in fact I don’t think there are many who are even monitoring Spanish property prices.”

    In fact, it is such a big yawn. No one can make any rational, commercial view on it due to the ever changing situation globally and lack of credible statistic, information & transparency in Spain.

  • #98244
    Profile photo of angie
    angie
    Spectator

    My own view though is that Spanish property prices will fall further because there are few buyers with the money to mop-up the 1.5 million unsold properties first, the still dire exchange rate for Brits who are also financially strapped, the uncertainties surrounding the Euro and PIGS economies, the 20% unemployment figures etc.

  • #98245
    Profile photo of Anonymous
    Anonymous
    Participant

    “I also personally know some Jews who are trying to reclaim property in Poland and there are thousands more.”

    They would and if you dont they will bring the holocaust into it.

  • #98271
    Profile photo of peterhun
    peterhun
    Participant

    Your attempts to promote Polish property are laughable. People have already been stung in Eastern Europe. I would consider giving away my money to a charity before I threw it down the drain in Poland 😆

    I also personally know some Jews who are trying to reclaim property in Poland and there are thousands more.

    Promote Polish property? yeah sure. You basically can’t buy Polish farm land, you need a special license that the Polish government doesn’t give out very easily or have Polish citizenship. I can’t promote something that you can’t buy..

    My point is that there is no near term future investment potential in Spain, and many other countries offer far better potential than Spain for many reasons. Would I suggest investing in most Polish property? no way. Prices are utterly ridiculous – 10 x average wage for a 2 bed apartment in Krakow for instance. Its a better investment than Spain, however…

    There are hundreds thousands of Germans and Poles also trying to reclaim land/property in Poland, Germany and Ukraine, Belarus etc. The fact is there has been many compensation payments going back to 1945 for all the deposed citizens. Unless you want to redraw the map of Europe back to 1939 then nobody is going to get full restoration. Its not fair, but Jewish and catholic Poles obviously have the most to gain… but it isn’t going to happen.

  • #97962
    Profile photo of Anonymous
    Anonymous
    Participant

    Sorry, but I feel that there is demand and there are buyers to look for holiday homes – at least at the Costa Blanca North.

    During my stay over Easter i personally made the experience.
    As for the last three years i had several appointments to look for a holiday home – never found the right one at the right price 🙂

    But this time it was different – we found one, and didn´t get it 😯

    New villa (3Beds w. Pool,Garage, central heating, distance sea view, etc) original asking Price 365K reduced to 320K.
    After inspection my wife stated “Das ist mein Haus”.
    So we made an offer which finally was agreed by the seller.
    We looked for a lawyer to set up the contract for a downpayment as the house was not completely finished and the certificate of Hab… was not in place.
    Our lawyer alligned everything with the builder and we made an appointment with the builder to sign the contract and to pay some money.

    When we arrived to sign we were told that they couldn´t sell the house to us.
    A Belgian couple had transfered a downpayment the afternoon before and also signed the builders contract form.

    So this was a nice easter present, espec. to my wife 😳

    My conclusion – there is demand, from (Eurozone) € citizens if there are the right properties at the right price.
    and by the way – a lot of properties I had a look at in the last 3 years, are sold in the meanwhile (of course after some 30-40 percent reduction).

    Sunwind

  • #98275
    Profile photo of Chris McCarthy
    Chris McCarthy
    Participant

    @logan wrote:

    Agents desperately talk things up as they try to sell you the latest great bargain.
    .

    I wonder Logan, given that you continually mentioned wanting, I think you said, to buy multiple units in Spain, that I also think you said you are based currently in France, whether you might be an Investor desperately talking things down as you look for the latest great bargain?

    Being as bad therefore as the Agent you deride above. Might that be true?

    I wonder myself why I bother to continue to post sometimes, so I understand if you are off, I have promised to be so myself in the past and be drawn back, but is it that you are banging your head against a brick wall in that – no, you just won’t be able to turn a super profit here – and are yourself perhaps in denial, that lots of people are buying for lots of other reasons now, and that you just can’t come here and make a killing for another 10 years.

    Who is really in denial here I wonder?

    Spain is not dead, it is not over, it is for you maybe, but not when I look out of my window.

  • #98276
    Profile photo of Anonymous
    Anonymous
    Participant

    How right you are CHRIS, Spain isvery much alive if you look at it for the right reasons.
    We completed on a great property last month and now making arrangements to make the move. We are not looking at investment, we never were even on the no build that cost us around 100K. We will be moving for a lifestyle change where life is slower and to enjoy our retirement.
    We have bought on the edge of a white village with enough land to keep us busy and where there are very few Brits. We were not looking for Brit bars and all day breakfasts, we dont use them here. We enjoy the Spanish attitude to family and liesure so Spanish restruants and bars are where we spend our time.
    We can visit the coastal towns and the big cities when the fancy takes us.
    It has taken three years to find the ideal property at a much reduced price, we looked at this property two years ago and have now purchased at a significant reduction greater than normal. We look forward to moving.
    So there is life after the bitter disapointment of losing money that you cannot replace, But we have our health and the ability to move on.
    Its no good being the richest man in the graveyard.

  • #98282
    Profile photo of Anonymous
    Anonymous
    Participant

    @Chris McCarthy wrote:

    Spain is not dead, it is not over, it is for you maybe, but not when I look out of my window.

    Of course it is not dead. After my visit to Santa Barbara, I would say that parts of Spanish Coast are nicer than the USA counterpart.

    One think to worry is the future of Euro. NOn-EURO holders might get a better bargain
    if the EURO decreases after the bail-outs.

    How many Pesetas was a £ worth?

  • #98283
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    katy
    Spectator

    Vilprano, don’t know why you assume all the coast is full of Brit bars with “all day breakfasts” Some places are others not…Marbella centre has very few British bars.

  • #98287
    Profile photo of Anonymous
    Anonymous
    Participant

    @katy wrote:

    Vilprano, don’t know why you assume all the coast is full of Brit bars with “all day breakfasts” Some places are others not…Marbella centre has very few British bars.

    Katy where does my post say everywhere on the coast is all brit bars and all day breakfasts.
    We visit much of the coastal townships and always find what we are looking for.
    I merely said that was what we didnt want.
    I am not blinkered when it comes to what and where I like, I dont assume that where I live is the best place in any country. Just that where I choose to live suits my lifestyle.
    I have visited most parts of Spain and travelled extensively during many years in the forces and for business.
    Although there are many places I would avoid.

  • #98423
    Profile photo of Anonymous
    Anonymous
    Participant

    Time to talk less about the ‘Spanish property market’ and more about local markets and segments, which are more revealing.

    I will set up thread for different areas, as promised. Starting with the Costa del Sol property market in 2010

  • #98860
    Profile photo of eddygon
    eddygon
    Participant

    Hi Mark
    Did you ever set up those different threads for different segments? Tnx, Ed

  • #98862
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    Anonymous
    Participant

    I’ve started setting them up. The obvious way to segment is by area, so I’m putting them in the Spanish regions forums. But I need more help from you lot to get the conversation going.

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