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My wife and I have been renting property in Jaca for a year and desire to buy a flat here. We know nothing of actual local property values versus asking prices, which seem very high. Would our bank be able to help us? Would they use an appraiser? How do we determine an offering price?
Where is Jaca ?
Near the Escuela de Militar. Probably about 30 years old. Also near the Palacio de Congressos
And, where is this Escuela de Militar ? In a country that in historic terms has recently come out of dictatorship there many “Esuela de militar” perhaps one in every second region/province in Spain !!!.
Every big city has a “Palacio de Congressos “.
Ok ok, showing my ignorance. Jaca is a resort destinación in the Pyrenees. The Escuela is a way form the Center of town.sorry, thought you said Where (in) Jaca. We are looking at another tomorrow listed at 126,000€ with four br 1 1/2 ba in fair condition, built around 80 with glassed in terraza.
Are you Spanish? If you have been renting there for a year surely you will know more about values there than the forum members who have probably never heard of the place, I certainly haven’t…..or is your intention to create an interest
No, no desire to create an interest. Just looking for rules of thumb to go by when making offers
Rule of thumb is applicable according to the market. A rule of thumb in Marbella, Barcelona. Madrid and their respective areas will be all different.
The Spanish has/always had a over inflated value of their asset’s and at the same time when some ones makes an offer which is under their valuation. They take it as a personal insult to them & their seven generations.
In view of the above & a fact that no one knows where ” Jaca” is there cannot be a much of a demand & families will pass on the properties to their off spring there cannot be much of a local market. I would make an offer of 50% of the asking price & see what happens.
I am sure in a depressed market & in an area that know one seem’s to know you are better off renting for as long as you want/can…
The market here is a significant second home market, not far from the ski resorts.
Hi ducksoup,
I know Jaca, it is a beatifull place in Aragon, in the mountains, with a lot of options to enjoy in summer and magnificient Ski resort in Winter(I’ve been skiing there)
I guess people doesn’t know it because there is no beach, but I can tell you will no miss it with the rivers and nature, and if you like Ski, I think it is a good choice where you can find some bargain in the currently situation, which sure make profit in future.
I am afraid I can’t help you with prices, but I suggest to visit some website where they inform about average prices, I found one which says that August 2013 was 2,198€/m, which seems a too high for me, as In other sites I found properties about 1,500€/m . Although you know the best is to look through a lot of properties and be patience.
Anyway if you need any help with the purchase process I will be happy to help you.
I hope it helps
Thanks. We found a piso we like but the listing price is 140000€. It is a bit high priced and we do not know what to offer.
zzzzzzzzzzzz 🙄
Hi ducksuop
It depends on the properties you have seen before and how good is this one. But bear in mind that in the current situation you can negotiate a lot. Is it a property from a particular? or is it a bank reposssed property?
If it is from a particular you can offer what you want, and then start to negotiate.
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