Mini-boom in the Vega Baja.

LoadingFavourite

This topic contains 9 replies, has 5 voices, and was last updated by Profile photo of Anonymous Anonymous 3 years, 10 months ago.

  • Author
    Posts
  • #57225
    Profile photo of Anonymous
    Anonymous
    Participant

    “The six-month figures from June to September show 1,706 properties were sold in Torrevieja and 1,194 in Orihuela.”

    “The area has golf courses, marinas, some of the best beaches in the region and great gastronomy.”

    I have faithfully reproduced the above from the paper version of the Costa Blanca News, the online version doesn’t show the detail because they want you to buy the newspaper.

  • #114588
    Profile photo of Anonymous
    Anonymous
    Participant

    La gente no interesa en este commentario.

    Porque?

    Surely it can’t be because they don’t want to hear good news about Spain?

    Here’s some more: “Morgan Stanley points to Spain and Switzerland as the most attractive European countries in which to invest this year.”

    You can’t ignore Morgan Stanley, they’re near to the top of our investment bankers.

    I suspect some of the negative posters have blocked good news about Spain to continue their negativity. It takes all sorts.

  • #114591
    Profile photo of Anonymous
    Anonymous
    Participant

    Hehe it’s like normal with investment bankers. What they normally do is to recommend their clients to do one thing and then do the opposite.

  • #114595
    Profile photo of angie
    angie
    Spectator

    You are so right there Ardun 😉

  • #114598
    Profile photo of Anonymous
    Anonymous
    Participant

    I must admit I share the negative views on investment bankers, but where do you turn for proper advice on the Spanish property market? By the time the land registry figures are released the market has moved on, either up or down, by six months.

    The encouraging figures for the Vega Baja region at least point to market activity, some three thousand sales for an area occupying a 15 kilometre stretch of Spain’s Mediterranean coast. There are 800 kms both to the north and the south of it, without even considering the Atlantic coast or Northern Spain.

    The recovery will start somewhere and as usual all of us experts will miss it.

  • #114599
    Profile photo of Anonymous
    Anonymous
    Participant

    Yes that’s true Rocker. The turn around is most likely to come around when very few expects it and I can agree that very few have a positive short term outlook on the real estate market in Spain. For example it’s time to leave the stock market when normal folks are talking big about investing etc the same applies to all sorts of investments.

    The activity in that area is only happening because of a few select buyer groups and without the spanish or all other foreigners doing the same I have a hard time seeing it going on for to long. Don’t forget that this is the area where prices have gone down the most also. It’s also hard to know if these transactions are private buyers or just banks trading real estate between each other. A good sign is that transactions are occuring down at whatever price level.

  • #114606
    Profile photo of katy
    katy
    Spectator

    I doubt the recovery will start in Torrevieja, the carbuncle of the Costas 😯 Don’t forget transaction figures include bank foreclosures, inheritances too.

  • #114609
    Profile photo of Anonymous
    Anonymous
    Participant

    Katy, Torrevieja isn’t that good.

  • #114610
    Profile photo of Anonymous
    Anonymous
    Participant

    The Russians love places like Marbella and Torrevieja, and I’ve always wondered why. But if it’s true that they are going to be the saviours of the Spanish property market, then it would be logical for those awful places to be in the front line for Eastern investors.

    Both places have an abundance of golf courses, but I don’t even know whether Russians are all that keen on the sport. Both places have former mayors who are now in prison for corruption, perhaps that’s the attraction for the Russians with their suitcases full of Roubles? Are they black in colour?

  • #114621
    Profile photo of Anonymous
    Anonymous
    Participant

    http://elpais.com/elpais/2013/01/13/inenglish/1358080263_923012.html

    They’re here and they’re spending more than the British tourists. And they’re buying houses. One complex on the Costa Dorada is 78% Russian owned.

    It may be a trickle now, but it could well be the start of something much bigger. In my view it was all so inevitable – if you look back at what Spain has to offer, sunshine, cheap housing and a welcome from the Spanish people, what more could you wish for?

You must be logged in to reply to this topic.