Have just seen Viva’s latest Costa del Sol price reductions email and two things stand out.
The first is that many properties advertised are still well overpriced eg Benahavis penthouse 780k euros, San Pedro penthouse 1,150,00k euros, yes, over a million for 3 bed apartment in that area (San Pedro) but reduced from nearly 1.5 million. Are these properties, many flats/apartments, look-a-like townhouses etc really worth that sort of money and would they hold that value as newer properties get built? IMO I don’t think so. The Benahavis ones are looked down on by an urbanisation that looks like a prison barracks, view from window shows large pylon, and both sites as well as others look out on urban sprawls and rough ground (just ready to be built on and block your views) I really can’t see the value in these properties and certainly not at current exchange rates for Brits.
The second point is that so many properties look so similar internally like hotel rooms, modern but little character, and externally hard to tell apart from another site or 100s of sites. IMO so much Spanish property has lost it’s character. Who wants to live in a hotel room all their life or for every holiday in the same room, it must be so boring after a few months in the sun especially if the property is an apartment or townhouse on a vast complex? No wonder Brits take to booze! 🙄
The South of France I think is a much safer long term bet as is the UK IMO 🙂
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