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It rather seems that the crash has started. Prices appear to be falling quite rapidly here (Alicante). In fact I am off to look at a “casa de campo” tomorrow that seems like a good buy. Of course it’s on rustico land, and the thought occurs to me that it may get land grabbed in the future.
Whilst I appreciate that it’s impossible to predict the future plans of local councils & developers. I am wondering what basic checks I can do, to see if there are any plans in place now.
Any suggestions?
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@axwhale wrote:
If prices are going down and there are good buys out there why risk buying a property on rustic land when there are plenty of legal ones to buy. Why take this unecessary risk. Speaking from experience and the nightmare we have had for the last 6 years (still on going). Its crazy. My opinion anyway.
Mainly because urban plots tend to be small, and I prefer to live in less developed areas.
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@axwhale wrote:
If prices are going down and there are good buys out there why risk buying a property on rustic land when there are plenty of legal ones to buy. Why take this unecessary risk. Speaking from experience and the nightmare we have had for the last 6 years (still on going). Its crazy. My opinion anyway.
Mainly because urban plots tend to be small, and I prefer to live in less developed areas.
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@petej wrote:
I would agree with Axwale, IMO there are plenty of pitfalls when buying property in Spain, is it really worth adding another with buying on Rustico land especially in the Comunidad Valenciana Area ❓
Well, I guess that depends on what you are looking for. We live here, and for our needs rustico properties are a good match. We very rarely see houses that are suitable for us and urbano. And so far all we have seen have been crazy money.
I feel that the LRAU (or whatever it’s called these days) is a real risk but probably a small one. Living in an unsuitable home isn’t too good either. So, for us it’s probably still a valid choice. If we are fortunate the silly over-development of recent years will not be such an issue in future years.
Also, it’s easy to forget that we had (have?) land grab laws in the UK, isn’t it called “compulsory purchase”? So, Valencia is not alone in this. Of course it has been dramatically over-used here. But these risks exist in other places too.
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@petej wrote:
I would agree with Axwale, IMO there are plenty of pitfalls when buying property in Spain, is it really worth adding another with buying on Rustico land especially in the Comunidad Valenciana Area ❓
Well, I guess that depends on what you are looking for. We live here, and for our needs rustico properties are a good match. We very rarely see houses that are suitable for us and urbano. And so far all we have seen have been crazy money.
I feel that the LRAU (or whatever it’s called these days) is a real risk but probably a small one. Living in an unsuitable home isn’t too good either. So, for us it’s probably still a valid choice. If we are fortunate the silly over-development of recent years will not be such an issue in future years.
Also, it’s easy to forget that we had (have?) land grab laws in the UK, isn’t it called “compulsory purchase”? So, Valencia is not alone in this. Of course it has been dramatically over-used here. But these risks exist in other places too.
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@Inez wrote:
If you do find an insurance against land grab tread carefully and check the small print. Ive just got hold of a company who protect title deeds against irregularities for 20 years but they wont pay out against landgrab!
Not just the small print, check out the Company who is offering the insurance! Some who have been selling these have already disappeared 🙄
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@Inez wrote:
If you do find an insurance against land grab tread carefully and check the small print. Ive just got hold of a company who protect title deeds against irregularities for 20 years but they wont pay out against landgrab!
Not just the small print, check out the Company who is offering the insurance! Some who have been selling these have already disappeared 🙄
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El anciano
‘compulsory purchase’ in the UK is nothing like the Spanish land grab ‘robbery by crooks’ who have little to fear from the hopeless justice system. Your lawyer in the UK is fully expected to obtain a reasonable market price for the purchase. Of course this won’t suit everyone for a variety of reasons, but at least it goes some way to a fair conclusion from a financial point of view.
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El anciano
‘compulsory purchase’ in the UK is nothing like the Spanish land grab ‘robbery by crooks’ who have little to fear from the hopeless justice system. Your lawyer in the UK is fully expected to obtain a reasonable market price for the purchase. Of course this won’t suit everyone for a variety of reasons, but at least it goes some way to a fair conclusion from a financial point of view.
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@El anciano wrote:
I feel that the LRAU (or whatever it’s called these days) is a real risk but probably a small one. Living in an unsuitable home isn’t too good either. So, for us it’s probably still a valid choice. If we are fortunate the silly over-development of recent years will not be such an issue in future years.
Yes I think I would say there is less risk these days with (we hope) less appetite/money to build
@El anciano wrote:
Also, it’s easy to forget that we had (have?) land grab laws in the UK, isn’t it called “compulsory purchase”? So, Valencia is not alone in this. Of course it has been dramatically over-used here. But these risks exist in other places too.
As far as I know ( and I could be totally wrong here ) when land Is taken in a LRAU case you only get a percentage of the value of the land/house and are then charged fees to help with the works taking place on the land, in the UK you are given market value for your land/property and of course you don’t pay towards works taking place on the land, this happen to a friend of mine when he lost his house to the M25 some years ago and he was very happy with the price he got, true market value
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@El anciano wrote:
I feel that the LRAU (or whatever it’s called these days) is a real risk but probably a small one. Living in an unsuitable home isn’t too good either. So, for us it’s probably still a valid choice. If we are fortunate the silly over-development of recent years will not be such an issue in future years.
Yes I think I would say there is less risk these days with (we hope) less appetite/money to build
@El anciano wrote:
Also, it’s easy to forget that we had (have?) land grab laws in the UK, isn’t it called “compulsory purchase”? So, Valencia is not alone in this. Of course it has been dramatically over-used here. But these risks exist in other places too.
As far as I know ( and I could be totally wrong here ) when land Is taken in a LRAU case you only get a percentage of the value of the land/house and are then charged fees to help with the works taking place on the land, in the UK you are given market value for your land/property and of course you don’t pay towards works taking place on the land, this happen to a friend of mine when he lost his house to the M25 some years ago and he was very happy with the price he got, true market value
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As someone who has lived in a rural area having a lot of land can be a burden. Many are plagued by hunters shooting around it, the nearest shack may be miles away but noise carries more in the campo (especially barking dogs!).
If I were looking to buy I would look at something on the fringes of a town/village, established, with all utilities in place.
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As someone who has lived in a rural area having a lot of land can be a burden. Many are plagued by hunters shooting around it, the nearest shack may be miles away but noise carries more in the campo (especially barking dogs!).
If I were looking to buy I would look at something on the fringes of a town/village, established, with all utilities in place.
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petej wrote
”As far as I know ( and I could be totally wrong here ) when land Is taken in a LRAU case you only get a percentage of the value of the land/house and are then charged fees to help with the works taking place on the land, in the UK you are given market value for your land/property and of course you don’t pay towards works taking place on the land, this happen to a friend of mine when he lost his house to the M25 some years ago and he was very happy with the price he got, true market value”
I think you are about right, and what a good example of how once again the law of common sense in the UK verses the daylight robbery laws in Spain!. Can’t be clearer can it? This should be added to the government health warning attached to any info’ about buying in Spain!!
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petej wrote
”As far as I know ( and I could be totally wrong here ) when land Is taken in a LRAU case you only get a percentage of the value of the land/house and are then charged fees to help with the works taking place on the land, in the UK you are given market value for your land/property and of course you don’t pay towards works taking place on the land, this happen to a friend of mine when he lost his house to the M25 some years ago and he was very happy with the price he got, true market value”
I think you are about right, and what a good example of how once again the law of common sense in the UK verses the daylight robbery laws in Spain!. Can’t be clearer can it? This should be added to the government health warning attached to any info’ about buying in Spain!!
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@goodstich44 wrote:
I think you are about right, and what a good example of how once again the law of common sense in the UK verses the daylight robbery laws in Spain!. Can’t be clearer can it?
Except that this isn’t an example of anything. Just opinion, and not at all clear.
This ranting about Spain is IMHO quite unnecessary, most of us have been here long enough to have some understanding of the issues, and when all is said and done, I’d still choose Spain over the UK as a place to live. Sure there are problems/risks, but the UK is hardly an idyllic paradise.
If you have been hurt by the issues in Spain, then I am sorry for you, and I know that plenty have had problems. But when all is said and done, there are still a good number here who like living here, and not everyone gets conned.
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@goodstich44 wrote:
I think you are about right, and what a good example of how once again the law of common sense in the UK verses the daylight robbery laws in Spain!. Can’t be clearer can it?
Except that this isn’t an example of anything. Just opinion, and not at all clear.
This ranting about Spain is IMHO quite unnecessary, most of us have been here long enough to have some understanding of the issues, and when all is said and done, I’d still choose Spain over the UK as a place to live. Sure there are problems/risks, but the UK is hardly an idyllic paradise.
If you have been hurt by the issues in Spain, then I am sorry for you, and I know that plenty have had problems. But when all is said and done, there are still a good number here who like living here, and not everyone gets conned.
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