[Anonymous]

Check this out…. http://www.idealista.com/en/inmueble/899110/

It’s a few minutes outside our town and it seemed to be a nice villagey place near the town. Never heard of any problems there.

Is it just the bank, Banesto, getting desperate to offload places which need maintenance??

Is there anything else at a lower price? Surely things can only go upwards from here (soon?)

[angie]

It is cheap itsme but it’s name implies it could be a cave house although it doesn’t look like one 😕 Not sure about it though! Someone posted a few months ago that they wouldn’t touch a cave house with a bargepole, maybe they are not mortgageable although one wouldn’t be needed at that price I doubt 🙄

[DBMarcos99]

I fear that we’re going to see more areas that become unfit to live in – even if they had no problems before as you say.
I’m not trying to make comparisons (and I’m sure there are a lot more areas in Spain with dire prospects) just pointing out that I wouldn’t consider buying a property as per the area in the following link, no matter how cheap the place was. You’d probably need to pay for round the clock bodyguards. Once an area goes downhill, very hard to recover.
http://www.dailymail.co.uk/news/article-2256796/Rows-boarded-terraced-houses-Accrington-brought-life-10m-revamp.html
Having said all that, if someone could convince me the area was safe, it would be very tempting to buy such a property at just 6k.

[DBMarcos99]

Aren’t there even cheaper houses in Detroit, US? Again I’d be too fearful of living in such a place even if the price was just a few grand for a property.

[Anonymous]

That one isn’t a cave house as La Portilla is a small village where there aren’t any caves as far as I know.

There are only very few areas where the mountain can take the construction of cave houses, Cuevas being a town where in some places there is the right mountain mineral which can take the weight etc. (not surprisingly the caves were first dug out hundreds of years ago when builders seemed to know what they were doing 😉

I don’t know why people don’t like caves as those i’ve been in are fantastic. Try it before you knock it I guess. The only trouble I can think of is if a cave hasn’t got the right paperwork and states it as ‘mountain land’? Licences were gotten for ‘mining’ so maybe there are a few without proper deeds because locals used them as weekend/summer homes and then sold them off in the boom?

I’m posting because it’s strange why this price has dropped so low, it was priced at 15k a while ago. I am guessing the bank just want it gone? It’s not a gypsy area but you never know if the neighbours aren’t on the same wavelength….??

I’m sure that there can’t be any property cheaper than this is there? Just seen your post DMMarcos98 and I guess there are cheap properties over in the US, a friend of the family bought a few online I think (scary…and brave/mad??)

[Anonymous]

ha ha, this might be a green shoot as a friend who’s out there is going to have a drive past and have a look…. as they said for less than £5000 you can’t go that wrong? They at least already live out there so know the reality of it there.

[DBMarcos99]

Maybe Jake has booked his flight ticket now he can buy somewhere for less than 20k?
I have to agree that 5k sounds like a steal. Looking on the map it’s down towards Lorca way – was it affected in any way by the earthquake the other year?

[Melosine]

Cuevas is a couple of miles inland from Vera and Desert Springs CC with lots of cave dwellings and shanty style properties.
30 mins drive further south than Lorca so no problem with the terramoto suffered there.
Much regeneration over the last few years and although the arid scenery is pretty enough to drive through not an area that appeals to me. But each to their own.

[Anonymous]

reminds me of poor areas in Caracas or Bogota – I’m surprised that forum users are interested in ghetto dwellings?? 😕 😕 😕 😕

[Melosine]

Problem is folk like Jake want bargain basement properties in areas where wealth , even in Spain, is obviously in an abundance !!!!…never gonna happen…
We may all have lost money on our properties but get the area right and the lowest shelf is much much higher than where poverty and ghettos abound.

[Fuengi (Andrew)]

@itsme wrote:

Check this out…. http://www.idealista.com/en/inmueble/899110/

It’s a few minutes outside our town and it seemed to be a nice villagey place near the town. Never heard of any problems there.

Is it just the bank, Banesto, getting desperate to offload places which need maintenance??

Is there anything else at a lower price? Surely things can only go upwards from here (soon?)

not cheaper but only 10k, I would say better situated aswell, although not familiar with the area.
http://www.idealista.com/inmueble/25446366/

[Anonymous]

Fuengi looks like a good “lottery” option. It’s not like one is going to cry if that property would down another 50% and you can still use it as a place in the sun for a few weeks every year. New complex and everything looks fairly ok. Could probably buy it and make a few euros on renting it out on the cheap.

[Anonymous]

La Portilla/Cuevas isn’t a ‘ghetto’ area….. Vera Playa close by has a lot of very luxurious buildings where Madrid dwellers have their holiday homes. There are bad areas of all towns but this is a little village of about 300 people on the outskirts of town (and not the side which is more problematic, actually completely in the opposite direction…).

My Spanish husband just looked over my shoulder and came up with a few expletives about Roquetas….sorry, maybe 10k is about the right price for there then? I think that there are lots of very cheap places in Roquetas as they really did overbuild there. But, it is by the sea.

ps, two cheap properties here in the village in Ireland have had offers accepted in the last few days, each about 20k lower than asking prices. Maybe a bottom has been reached here so Spain is set to follow in a few years?

[Melosine]

Itsme, There was never any suggestion that Cuevas is a “ghetto” area . Sorry to have given that impression.
Was just making a point , in my 2nd posting , about house prices v areas in general.
However you must admit it does have the appearance of a poor town especially since many of the larger shops in the main thoroughfare have now closed. Hopefully the regeneration of the town will continue now that the road from Aguilas to Cuevas and Vera has been improved.
Many coastal towns, Aguilas as an example , is delightful along the coastline but most of the town is not an area I would want to rent a holiday home in. Even if everywhere is only 5 mins to the beach.

But this is exactly the same scenario if one bought in the back streets of Brighton. You buy cheap and get ****

[Anonymous]

It wasn’t you who said that it was a ghetto area.

I am one who when there would argue that Cuevas looked like the poor cousin to Vera…..which spent a lot of EU money I guess on smartening up and being all modern and marble fronted. Locals disagreed about it but then they would, as they love their town no matter what. It’s tricky that just a few wealthy people own most of the locals on the high street so they charge higher rents, so therefore there are three blooming chinese shops.

There is a British owned triathalon training camp for athletes there as well, who also run the indoor swimming pool.

It is a historical town so does need a bit of renovation as much of it is centuries old (from the silver boom years). The large church has just received funding to restore it and little by little each street is getting better.

It’s not a fantastic town by a long shot, but none are when you know them inside out. I lived in London for many years and I would by far prefer to live in Notting Hill, Fulham or Chelsea than Shadwell or Ealing.

I didn’t want this to be a ‘all about Cuevas del Almanzora’ post but since my husband is from there I have to defend it a bit. It’s made me blooming angry over the years as many of you know….

I’d heard that also local Antas and Huercal Overa have some incredibly wealthy people who keep a low profile….

I just saw that property for 6000 euros and thought blimey, this must be the bottom of the price range? If things are this cheap then they will sell, probably to locals actually as there are plenty of people who dress like a pauper but actually have millions tucked away (euros not pesetas).

Are the banks therefore going to drop the prices of all their repos throughout Spain to such low levels as that is what it takes to sell them?

[Anonymous]

Away from the Vera v other town/villages. Will the Hacienda accept the price of purchase. If one bring’s this into equation the Notary fees & the taxation will not be 10% of the purchase price it would be more like 50 -60%.

[Anonymous]

Can this be true, this must now be the bottom rung??

http://www.idealista.com/inmueble/25465926/foto?multimediaNumber=1

[Anonymous]

@itsme wrote:

Can this be true, this must now be the bottom rung??

http://www.idealista.com/inmueble/25465926/foto?multimediaNumber=1

Wait for it to drop another 50% before buying. 😆 That’s the cheapest I have seen at least. The fees will probably amount to 2000% of the buying price instead of the normal 10-15%.

[angie]

You should be pleased you’re back in Ireland itsme, Irish property prices rose in November, the 5th time in 2012. Logan mentioned Ireland a while back, there’s quite a lot of good news coming out of there and of course a much smaller housing stock to cope with or sell-off. IMO Ireland will be a property hot spot again before too long 😉

That said the Spanish property you linked is sooooooo cheap, can it fall any further, well yes 2500 euros further, so Ardun may be right? You could buy terraced houses near Manchester for a £1 not so long ago, but wouldn’t touch them, the vandalism and social problems etc were awful 🙄

[Anonymous]

I think this is a come on & the a different i.e. higher price will be qouted. Nice to see the sun is streaming through and the mandatory photo of the bidet !!!!!!!!

[Anonymous]

I think this is a come on & the a different i.e. higher price will be qouted. Nice to see the sun is streaming through and the mandatory photo of the bidet !!!!!!!!

[Author]

Posts