where to buy now and what is really value in this time

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This topic contains 9 replies, has 6 voices, and was last updated by Profile photo of Anonymous Anonymous 2 years, 7 months ago.

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  • #57827
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Guys

    We are interested in buying a property in Spain soon nothing fancy or big but we are so confused.
    We have a budget of some 40,000 euros but could go more but have still to find one.
    We would like a property with at least 2 bedrooms, outside space either a garden or a solarium and have access to a pool.
    We don’t care where it is as long as its not too far from amenities say 2km of a walk.
    It can be in a town/village or on the outskirts or in a complex or an urbanisation.
    All we see is this property was a certain price then and now it is this price but the big question, is the property good value now.
    I ask because there are so many discounts from say 15% all the way up to 70%, but when they were at the high prices were they worth it then.
    So is the discount from the original price a true valuation of what it should be now.
    We have looked at the web sites and wondered what is actually a bargain now that there are so many properties for sale.
    We have looked at bank properties and noticed that a lot are for sale in small areas and so are they good value or do the banks know something we don’t.
    Will they be very hard to sell if we needed to in a while, would anyone want to buy it from us.
    We have seen a lot of properties on golf courses.

    Which brings me to my first question, where to buy and where not to buy and why.
    What areas should we avoid and why.
    What type of property should we be looking at.
    Are bank properties as good as they are made out to be, are there hidden costs.

    Thanks in advance for any and all suggestions and help.
    If anyone has a property for sale let us know but not anything expensive.

  • #119506
    Profile photo of Anonymous
    Anonymous
    Participant

    Maybe you could buy a house in Martos in Jaen province .or a cave house in Guadix

  • #119505
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi John,

    A lot of questions there.

    Are you after a holiday home or relocation?

    The area and type of property depends on your needs. Start with a prioritised list of your needs.

    In the meantime, have a look at the Solvia list of homes below €80,000. They tend to offer some of the most keenly priced bank repos, for now at least (they are threatening to start putting their prices up). 😕

  • #119508
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi
    Thanks for the reply appreciated.

    We are trying to buy with a view to having it now and for a while as a holiday home, so we think it can’t be out on its own or it will be vulnerable while we are not there which would be most of the time.

    But we will be living in Spain later so we are trying to get a property which will suit for now and then for when we can really enjoy it and not have to leave.

  • #119512
    Profile photo of Anonymous
    Anonymous
    Participant

    Interesting prices Mark. Quite a bit round Torrevieja – not for me!. I think owners of better property do not willingly part with it in bad times. Brits often like to be where there are a lot of others -as do Germans likewise .If you are an individual I think you have to go and look. There are search engines on line that are interesting like Think Spain- Right Move- Property Finder that are helpful in searching different locations for a start.

  • #119518
    Profile photo of angie
    angie
    Spectator

    Agree with Ptr there about Torrevieja, it is an overbuilt giant housing estate of look-a-like homes, whatever their prices I wouldn’t touch it for investment nor lifestyle. 🙄 Better off trying to get something more individual 🙄

  • #119522
    Profile photo of Chopera
    Chopera
    Participant

    Bear in mind that if you do pick up a bargain for €40k that the council still calculates to be worth say €200k then they might tax the transaction at something like €20k (depends on the council). So half your money goes to the council before you even start paying for the property!

  • #119523
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi
    Thanks for that insight and one which I will bear in mind.
    I would have thought that the councils would have adjusted their tax take in line with the property slump which would include the annual tax payable aswell.

  • #119524
    Profile photo of Anonymous
    Anonymous
    Participant

    @johndb wrote:

    Hi
    Thanks for that insight and one which I will bear in mind.
    I would have thought that the councils would have adjusted their tax take in line with the property slump which would include the annual tax payable aswell.

    In the Spanish property market, logic has nothing to do with anything.

    D

  • #119525
    Profile photo of Anonymous
    Anonymous
    Participant

    Ok that sound really good

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