Low prices in Spain are good news for investors

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This topic contains 22 replies, has 7 voices, and was last updated by Profile photo of angie angie 4 years, 4 months ago.

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  • #56904
    Profile photo of Anonymous
    Anonymous
    Participant

    Low property prices in Spain mean that there are opportunities for investment buyers and those seeking a holiday home to enter the market, it is claimed.

    Low prices in Spain are good news for investors and second home hunters

  • #110186
    Profile photo of angie
    angie
    Spectator

    Don’t be fooled jakey, it’s another one of those Taylor Wimpey advertisements they often spill out, you know promotional stuff for their developments.

    It’s only looking a better investment for Euro holders, not Brits, heard of exchange rates? πŸ™„

  • #110189
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    I’m not interested in “investments” but it certainly is good news for those of us looking for a retirement place.

    Angie mentions exchange rates – the rise in value of the pound is doubly good news in this respect and makes Spanish property even better value. The possible drawback to that is you have to be aware the direction can change at some point, which will affect pension/savings values. Don’t keep all your cash in one currency is the lesson, I think – although I’m sure many will argue differently, the advice from professionals tends to be keep most of your money in the currency where you incur expenses. But then there is always the danger of a currency collapse. Interesting times..

  • #110191
    Profile photo of angie
    angie
    Spectator

    The rise in sterling makes it better for Brits buying in the Eurozone generally, especially where the prices have fallen dramatically, however it used to be 1.64 exchange rate and some of the properties are hardly different in sterling terms now to what they were then despite price drops! πŸ™„ Then there’s still the risk of further Eurozone woes not done with yet πŸ™„

  • #110193
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    Can’t see why the 1.64 figure is relevant at all.
    There was a time when the pound could buy 10 DeutschMarks. Not going to happen again, pointless worrying about it.

  • #110194
    Profile photo of angie
    angie
    Spectator

    Of course it is relevant, I can’t see why you cannot grasp simple exchange rate mechanism. It shows the point that prices for Brits since they pay in Sterling, are in many cases little different to what they used to be despite the fall in property prices, so not the bargain you think you’re getting πŸ™„ It’s not a worry for me as you imply, but could be for many Brits considering purchase. πŸ™„

    I have previously posted on several occasions how this works but the topic often drops off the page, would you like me to show the maths again on a separate topic sometime? πŸ™„

  • #110199
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    @angie wrote:

    Of course it is relevant, I can’t see why you cannot grasp simple exchange rate mechanism. It shows the point that prices for Brits since they pay in Sterling, are in many cases little different to what they used to be despite the fall in property prices, so not the bargain you think you’re getting πŸ™„ It’s not a worry for me as you imply, but could be for many Brits considering purchase. πŸ™„

    I have previously posted on several occasions how this works but the topic often drops off the page, would you like me to show the maths again on a separate topic sometime? πŸ™„

    You should realise you aren’t exactly improving your image by trying to patronise someone who is probably far more numerate than yourself!

    Exchange rates fluctuate all the time. Trying to tie yourself to an exchange rate of 1.64 in whatever year it was – 2004? (or prices then) is as crazy as calculating how many Deutschmarks the pound could buy in 1960. It’s all in the past let it go. No doubt you could buy a house in London for 2k in 1940 but it is irrelevant now.

    What is valid is comparing a 2 bedroom flat where I currently live (between 180k and 500k) and seeing there are bargains in Spanish cities now for the equivalent of 30-50k (not yet Madrid, but I’m hoping..). And yes, if the pound were to double overnight then that price would theoretically halve in price (but in reality the sellers would then start asking higher prices with even more conviction). But in the absence of a looking glass (and remember the UK with 375 billion of QE, and a further 300 billion PFI to pay for, is in a mess too – hence all the soldiers it is now making redundant), the current exchange rate is what we work with, although it won’t hurt to factor in 10 or 15% either way.

    What is probably even more important is the value of earnings and/or pension. If the pound continues to rise a little, that is excellent news for the expat in Spain – I’m surprised even you Angie can’t see that!

  • #110203
    Profile photo of angie
    angie
    Spectator

    In that case steviedelux I will post shortly the example I’m referring to as you simply don’t understand the maths, even though you state you are more numerate than me, when you know little about me or my background, cheeky B 😑 If you buy an item today in a shop that is half the price it was 6 years ago it seems like a bargain now, however if it costs the same today as then it’s not the bargain you think apart from the inflationary factor ❗ TV’s and electricals are coming down in real terms so much better value, not so with Spanish property FOR BRITS WITH STERLING AT TODAY’S RATES Capiche?

    If you think buying now for Brits with today’s exchange rate is better value than when the rate was better for Brits, where the two examples which I will prove to you work out about the same so no saving at all, and if you think now’s the time to buy when the Eurozone uncertainty could mean further price falls to come and therefore not waiting is sensible, then you are very much mistaken and tantamount to leading people astray πŸ‘Ώ

  • #110205
    Profile photo of Anonymous
    Anonymous
    Participant

    with more QE taking place expect the pound to loose some of the recent gains aswell.This of course is good news for brits selling to escape all the new and inflated taxes, if they can sell off course

  • #110206
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    @angie wrote:

    In that case steviedelux I will post shortly the example I’m referring to as you simply don’t understand the maths, even though you state you are more numerate than me, when you know little about me or my background, cheeky B 😑 If you buy an item today in a shop that is half the price it was 6 years ago it seems like a bargain now, however if it costs the same today as then it’s not the bargain you think apart from the inflationary factor ❗ TV’s and electricals are coming down in real terms so much better value, not so with Spanish property FOR BRITS WITH STERLING AT TODAY’S RATES Capiche?

    If you think buying now for Brits with today’s exchange rate is better value than when the rate was better for Brits, where the two examples which I will prove to you work out about the same so no saving at all, and if you think now’s the time to buy when the Eurozone uncertainty could mean further price falls to come and therefore not waiting is sensible, then you are very much mistaken and tantamount to leading people astray πŸ‘Ώ

    You really don’t understand at all.
    If a property in spain is one third of the price of the same sized place in the part of the UK I am now, then it’s a potential bargain. (other things like healthcare etc have to be taken into consideration). If I retire where I live now in the UK then the rent or purchase of a property will be 3 or 4 times that in Spain, even in many cities. Who cares what the rate was years ago, the prices now are extremely good value IN COMPARISON with my part of the UK.

    If your argument is that a 50 k Euro house (say Β£40,000) will become only Β£20,000 if the currency devalues by 50% then you are missing two major points:
    i ) as the price decreases it already looks more attractive to buyers from elsewhere – look at the increase in Swedes looking here. T
    ii ) The sellers, unless they are forced to sell quickly will know that foreign buyers have a currency surge and will stick out accordingly. But yes it does make it a good time to push a bargain.

    There is another point – as I mentioned earlier the earnings or pension from the UK. If the pound continues to rise then expats money in spain will increase.
    HOWEVER – Who really has that crystal balll? Yes the pound has risen lately. But there is always a chance that it can fall again. The fact that you keep going on about 1.64 proves this. My guess is that the pound will reach 1.30 against the Euro, but that is only a guess. I thought Spain would leave the Euro by this summer, but it hasn’t happened.
    Remember these things can go down as well as up.

  • #110207
    Profile photo of angie
    angie
    Spectator

    Why don’t you read the new topic it might help you. I think, although not sure, that you understand it’s a bargain for Eurozone buyers, no exchange rate to consider.

    What might seem a bargain to you in the UK because your property price is higher now, will not apply to many other Brits, you live in London.

    Forget the other benefits like healthcare costs for now and consider if someone walks into an agent in Spain today and gets talked into buying that overpriced villa in Coin which within 6 weeks was reduced by half, a complete rip-off, that person has been done, then consider if Spain did exit the Euro or their problems became worse and that overpriced property or another seemingly discounted property falls another 25% or more (predicted by some) are you saying that they bought at the right time and now hold a bargain? πŸ˜†

    TBH I don’t know anyone other than agents/developers and the Spanish PR machine, and you, that are so hell bent in ‘talking the market up’ I’m not sure what your agenda is πŸ™„ Your agent pal in Valencia has stated there are 1.6 million unsold new homes for sale in Spain, sell those in the next week or so and the market might improve. Thank God you are not an agent 😑

  • #110208
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    @angie wrote:

    Why don’t you read the new topic it might help you. I think, although not sure, that you understand it’s a bargain for Eurozone buyers, no exchange rate to consider.

    What might seem a bargain to you in the UK because your property price is higher now, will not apply to many other Brits, you live in London.

    Forget the other benefits like healthcare costs for now and consider if someone walks into an agent in Spain today and gets talked into buying that overpriced villa in Coin which within 6 weeks was reduced by half, a complete rip-off, that person has been done, then consider if Spain did exit the Euro or their problems became worse and that overpriced property or another seemingly discounted property falls another 25% or more (predicted by some) are you saying that they bought at the right time and now hold a bargain? πŸ˜†

    TBH I don’t know anyone other than agents/developers and the Spanish PR machine, and you, that are so hell bent in ‘talking the market up’ I’m not sure what your agenda is πŸ™„ Thank God you are not an agent 😑

    you are so wrong on many points..

    I am not trying to talk anything up, and this would hardly be the place to make a difference. Believe me lower prices are great news for someone like me!

    Don’t worry, I’m not interested in places like Coin either – I’m not knocking the place, I’ve never been there.

    If you really believe that prices will only ever come down, then you may have a point. But there is always a turning point, and people generally miss it, whether it be shares, house prices or whatever.
    Low prices are good news for buyers. If you don’t havde any intention to live in Spain again then fair enough. Hope you are happy in your land of Primark!

  • #110209
    Profile photo of katy
    katy
    Spectator

    Aside from all this, I don’t think there are many bargains, at least in the places I know. They are still overpriced. Even in the shiteholes of mΓ‘laga where no Brit has set foot (neither would they want to!), they are still looking overpriced. As I have said you can’t base everything you read on the web (lots of it is for dreamers). It is only by getting out there and viewing places, finding out the pitfalls etc. Then decide if it is a bargain!

  • #110210
    Profile photo of angie
    angie
    Spectator

    Steviedelux, I was beginning to think there was some convergence on points when you end with your snide comment as you have to others as well as boasted of your superior numeracy, read the topic on the Primark comment written by others but posted here, it was a portrayal of many Costa Brits which you’ve stated you won’t be living near πŸ™„

    I have not said prices will only come down, one day there may be an upturn, but it is not now there is too much uncertainty around and it’s not sound advice for Brits yet.

    Do you honestly believe that with 1.6 million unsold new homes to sell first, apart from how many re-sales, the Eurozone and Spanish financial crisis, the increase in taxes proposed for Spain and the rest, that now is a good time for Brits (as opposed to Euro holders) to safely buy in Spain, apart form the exorbitant completion costs and questions of legality which still exist, and, what is still a totally unregulated Spanish property market with lengthy legal redress if you’re lucky? πŸ™„

    I still suggest you read the new topic, not written by me but echoes what I think πŸ™„

  • #110211
    Profile photo of Anonymous
    Anonymous
    Participant

    ” patronise someone who is probably far more numerate than yourself! “

    Most numerative people/professions are very poor wth numbers e.g. Accountants. What they are good at applying & intreprating those number in a given set of circumstanes. They are not worried about the six decimal point correctness and look at significance, relevence & materiality.

  • #110214
    Profile photo of angie
    angie
    Spectator

    shakeel, I only worked in the City in London stockbroking and banking for 11 years when I left school, following exam passes in Maths, loved maths but not the corruption even then in the City. Maybe that’s what gave me an aversion to scams and defrauding of innocent people! What do I know about numeracy? πŸ™„ πŸ˜†

    Which is why when people make incorrect statements as earlier when they know little about me, it looks patronising to me too πŸ˜‰ I had to be pretty numerate too when we imported lots of ceramic and terracotta ware from Northern Spain for garden centres here, and then set up and ran a Casa shop in the UK for some while. I won’t give too much away but there’s more, and all to do with numbers etc 8)

  • #110223
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    When you stop accusing posters of being VIs, agents etc (and btw getting it hopelessly wrong most of the time) then I will give you some respect Angie. Oh, and stop trying to point out a good reason for not living in Spain is there are tattoed Brit chavs also in the same country. As I’ve pointed out before, plenty of that type of person still in the UK, in almost every town and city. Luckily they can normally be avoided.

  • #110224
    Profile photo of angie
    angie
    Spectator

    Repetition Repetition DBMarcos99 aka Steviedelux, you’re sounding like an old record, and rambling too πŸ˜† Try stopping your snide comments and grow up and accept things are not ‘A’ ok in Spain, stop trying to fool people, have you read and digested the new topic yet and if so do you disagree with that as well? πŸ™„

    What do you mean by your 2nd sentence it’s rubbish, it doesn’t make any sense. πŸ™„ πŸ™„

  • #110225
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    @angie wrote:

    Repetition Repetition DBMarcos99 aka Steviedelux, you’re sounding like an old record, and rambling too πŸ˜† Try stopping your snide comments and grow up and accept things are not ‘A’ ok in Spain, stop trying to fool people, have you read and digested the new topic yet and if so do you disagree with that as well? πŸ™„

    What do you mean by your 2nd sentence it’s rubbish, it doesn’t make any sense. πŸ™„ πŸ™„

    You’ve obviously been on the pop today. I have only ever posted on this forum under one id.
    Keep telling us that you don’t like Spain and prefer the UK, because you’ve seen tattooed Brits drinking outside a bar! Lol. You are so incredibly amusing. Snide remarks? You’re in a glass house throwing stones again. Please keep (falsely) accusing posters of being estate agents, VIs etc.

  • #110227
    Profile photo of angie
    angie
    Spectator

    You can’t stand the truth can you Steviedelux aka DBMarcos99 even when it’s staring you in the face? πŸ˜†

    You’ve just repeated yourself for the umpteenth time, clearly have not read my posts properly, nor the new topic for your critical dissection, are you for real? πŸ˜†

  • #110230
    Profile photo of DBMarcos99
    DBMarcos99
    Participant

    You’re getting obsessed Angie – I should have realised that when you first started stalking.
    If you like, go on the house price forum, there’s a poster there under the name “Trampa501” who may seem familiar to you!
    I think though, I’ll be ignoring your childish rants and totally false accusations here from now on.

  • #110243
    Profile photo of Anonymous
    Anonymous
    Participant

    why is Angie soooooooooooo angry??? – 😈 😈 😈 😈 😈

  • #110244
    Profile photo of angie
    angie
    Spectator

    Suits me Stevie πŸ˜† πŸ˜†

    Why are you sooooooooo angry and bitter UBEDA, you don’t even like living next to Spaniards? πŸ˜†

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