- This topic has 11 replies, 5 voices, and was last updated 16 years, 11 months ago by
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The situation is getting worse for developers and we are seeing very strange things like 3×2 sales. Like in a supermarket!
The fact is that in my city but I also I think everywhere in Spain, developers are accepting things like buy 2 and take 3 flats.
Also I have recently offered a 4 bedroom newly constructed flat in downtown Lorca (Murcia) for about 170.000 euros when some months ago its asked price would be not less than 200.000 euros.
I think its fair price is 140.000 euros so still there is time and space to fall.
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peterparra wrote:The situation is getting worse for developers and we are seeing very strange things like 3×2 sales. Like in a supermarket!
The fact is that in my city but I also I think everywhere in Spain, developers are accepting things like buy 2 and take 3 flats.
This is a good trick and a first step towards normality.
IN couple of months from now the will offer the 33% reduction, without requiring to purchase 2 apartments…
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Check this:
A 3 bedroom flat just in downtown Lorca for about 150.000 euros. Incredible. Last year it was imposible to find something like this and nobody knows how much it with fall.
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@peterparra wrote:
I think that people who will buy in the right moment (the inflexion point of this crisis) will make a great business.
But… when will finish this situation? Things seem to have worsened in this month.
I can’t see there ever being the demand great enough to fill the properties that have been built and they will have to start knocking some down. If I were the government I would accept that the property market is going to crash and set about a plan now to redevelop the coast of Spain so that the communities are sustainable and the properties there much fewer.
If not now, when? Or what alternative?
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peterparra wrote:A 3 bedroom flat just in downtown Lorca for about 150.000 euros. Incredible. Last year it was imposible to find something like this and nobody knows how much it with fall.
How much is the average salary in Lorca?
If one considers the usual price = 3.5 x anual salary, a 60.000 Euros for 3 bedroom flat would be on the high side. 150.000 euros is an outrageous price for an economically depressed area.
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mike wrote:If I were the government I would accept that the property market is going to crash and set about a plan now to redevelop the coast of Spain so that the communities are sustainable and the properties there much fewer.
If not now, when? Or what alternative?
I am not sure how can they do it, unless they declare illegal almost all the properties on
the coast of Spain. -
@ralita wrote:
I am not sure how can they do it, unless they declare illegal almost all the properties on
the coast of Spain.I would do as much as I could to compensate as the reputation of Spain as a place to invest will be ruined otherwise. The only alternative is a radical solution without compensation but developing, going forward, a transparent and fair system strong enough to act as a promise that the same mistakes cannot be made again.
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How much is the average salary in Lorca?
It depends. All my friends get around 2000 euros month but I also I know there is a lot of people here earning about 1000 euros month.
One curious thing of spaniards is that they live very near their families and so they give all their salary for the mortgage and them they go to eat to mum house.
Is something mad but is the stupidity I have seem to commit by a lot of locals here.
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about the 4×4 is another stupid common thing done is these years of excess:
people who took a mortgage said: we can have a Porche Cayenne for only 50.000 euros more of mortgage! lets take it!
Now these people cant pay the mortage and also cant to pay the 20 litres every 100 km this type of car consum in urban driving.
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