- This topic has 20 replies, 10 voices, and was last updated 15 years, 11 months ago by
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To quickly sum up for those who cannot read Spanish (and if you are living here, why not!) here we have the Spanish Association of Builders and Promoters saying that those that want to sell can’t because those who want to buy can’t get a mortgage. House prices have already fallen during 2007 as a result and cannot fall further without negative equity (at least thats how I translated they become a gift to the bank…) becoming a problem (is it not already?), solutions are slow due to the reluctance of the Government and without such help as offering a fixed Euribor rate, this problem will continue for another 3 or 4 years.
After reading this, I really am wondering why my local town is FULL to the brim of semi built blocks of flats…construction still continuing…I guess they will be EMPTY when completed, along with the thousands of empty houses you can find in villages throughout Spain. Why not encourage renovation rather than taxing to the hilt for it?
What a cheerful and optimistic read this will make for those who have brought off plan…but it probably makes a change for a promoter to speak something near the truth for once….
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Well according to another report, the President of this Association Guillermo Chicote is talking a load of …… ‘stuff and nonsense’:
First he admits:
There were some 800,000 new homes currently for sale across the country, with between 200,000 and 300,000 still under construction, and noted that sales had fallen by 60% in number since the start of the crisis.And then states:
“The price of newly built housing in Spain will not fall any more than it has”.
Parallel Planet. 🙄
Well he is about to retire, maybe he just wants to leave on a high note. Bless.
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Well property at the right price sells.
Just look at Taylor Woodrow and there prices, La Mariena especially and they have got only 10 units left, A member of my family sat on the fence too long and now cant get the type of unit they wanted.
The message for developers is if you want to sell your properties then follow Taylor Woodrow’s lead
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@Senor Nick wrote:
Well property at the right price sells.
Just look at Taylor Woodrow and there prices, La Mariena especially and they have got only 10 units left, A member of my family sat on the fence too long and now cant get the type of unit they wanted.
The message for developers is if you want to sell your properties then follow Taylor Woodrow’s lead
Tell your friend that 173K Euros is way too much for a 2 bed apt. I am sure he will do much better than that if he/she is patient enough.
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what the(ex) president really said(on TV) was that they (developers) could/ would not reduce their prices anymore – by up to 30/40% as that would wipe out their profit margin and the banks would then repossess – he is rather unpopular in Spain to say the least and represents all what is bad about the “fachas” – he also implied that the developers would prefer to give the units back to the banks rather than reduce the sales prices to the public!!
regarding Taylor Wimpy in “La Mairena” the last I heard was that they hadn’t seen a customer in months; maybe this is their latest sales patter – mark as sold most units and then say “buy quickly/ only ten left” – or maybe Katy is right –
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@UBEDA wrote:
regarding Taylor Wimpy in “La Mairena” the last I heard was that they hadn’t seen a customer in months; maybe this is their latest sales patter – mark as sold most units and then say “buy quickly/ only ten left” – or maybe Katy is right –
Maybe they just had a distressed sale of extra 50% off. I guess 80K Euros would be
an almost acceptable price for their apartments (on the expensive side though). -
Thats really nice isnt it ?
Mark gets good advertising revenue from Taylor Woodrow to contribute to the running of his site and all you can do is slag his advertisers off but still enjoy the benefits of Marks site.
Everyone is entitled to their opinion and mine is that La Mariena was the best value for Brand new apartments on Costa del sol and why they have sold so well
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@Senor Nick wrote:
Mark gets good advertising revenue from Taylor Woodrow to contribute to the running of his site and all you can do is slag his advertisers off but still enjoy the benefits of Marks site.
Nick – I assume your point is that because Taylor Woodrow (or any other developer for that matter) advertises here, we should be obliged not to write anything negative about them? Please, I hope you’re not serious, this is a forum.
Just for your information, two years ago we had thread on SPI called Estate Agents Fees, and VIVA (your ex-employer) was mentioned…with good and bad stuff. At least Chris McCarthy had the gumption to come on and join the thread to face the music and answer some of our questions/comments. He made 48 posts in total. I admired him for that whatever one may think of him, and if you read the thread he certainly had to face some tough posts. Maybe Taylor Woodrow would do well to take a lesson from Chris and reply here to any comments rather than being ‘protected’ for just being an advertiser?
And who knows, if your new real estate business has taken off, we could start a thread on your company?
How’s it going by the way?In case of interest this is the thread, and Chris joins us on page 2.
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=1160&postdays=0&postorder=asc&start=0 -
@ashtondav wrote:
If anyone wants to sell a two bed apartment in Frigiliana for £80,000, i’d buy it. Based on the last 4 or 5 years it would make a reasonable good commercial proposition, in terms of holiday lets.
Can’t get anywhere close – yet!
The last 4-5 years have been the lust years, the party year, the crazy year.
Next year fewer people will go in holidays and the holiday lets market will be less favourable.
2 bed apartment in Frigigliana (a 2 minute check)
http://www.kyero.com/property/778565-apartment-for-sale-frigiliana?
129K Pounds
http://www.kyero.com/property/648172-apartment-for-sale-frigiliana (same price)
http://www.kyero.com/property/739921-apartment-for-sale-frigiliana?
130K PoundsMake an offer at 30% off and you arrive at around 80K Pounds.
If they do not accept, wait another year and offer again.
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@charlie wrote:
@Senor Nick wrote:
Mark gets good advertising revenue from Taylor Woodrow to contribute to the running of his site and all you can do is slag his advertisers off but still enjoy the benefits of Marks site.
Nick – I assume your point is that because Taylor Woodrow (or any other developer for that matter) advertises here, we should be obliged not to write anything negative about them? Please, I hope you’re not serious, this is a forum.
Just for your information, two years ago we had thread on SPI called Estate Agents Fees, and VIVA (your ex-employer) was mentioned…with good and bad stuff. At least Chris McCarthy had the gumption to come on and join the thread to face the music and answer some of our questions/comments. He made 48 posts in total. I admired him for that whatever one may think of him, and if you read the thread he certainly had to face some tough posts. Maybe Taylor Woodrow would do well to take a lesson from Chris and reply here to any comments rather than being ‘protected’ for just being an advertiser?
And who knows, if your new real estate business has taken off, we could start a thread on your company?
How’s it going by the way?In case of interest this is the thread, and Chris joins us on page 2.
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=1160&postdays=0&postorder=asc&start=0Never ever worked for Viva
This is probably the most negative site Ive ever been on.
However anyone who knows anything about the cost of building materials and the costs of building and what the cost of land is knows you would struggle to build those units in La Mariena and make a profit at 173000 Euros.
That brings us on to a whole different debate as to what needs to happen for local people to be able to afford property but you cant see building materials and cost of labour comming down in price.
The other thing is there is also a shortage of good quality villas in the 800k to 1.4m bracket, well not anything else you would want to buy.
There is loads of cheap property to buy which is truly horrible and have your tried to buy anything else in the City centres then that is where prices need to come down, people are still asking 300k in fuegrirola for very average property.
At the end of the day its times like this that make some people very rich and some people very poor
The next few years will decide who they are.
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@Senor Nick wrote:
Never ever worked for Viva
😕
@Senor Nick in December 2007 wrote:
Viva used to be the biggest agent down here but like a dinosaur refused to move with the times and Adh took over via internet marketing, I did work for them for a very short time and what I saw was interesting to say the least….
Apologies Nick, then you meant you worked for Andalucian Dream Homes and not VIVA. The way you wrote it could be taken either way.
The point I was making re. Taylor Woodrow remains the same. No developer should be immune to discussion – negative or positive – just because they advertise here. -
However anyone who knows anything about the cost of building materials and the costs of building and what the cost of land is knows you would struggle to build those units in La Mariena and make a profit at 173000 Euros.
I assume the 173.000€ apartment is at least 80m2. If that’s the case, and they can’t make a profit a 2162€ a sqm, they don’t desrve to survive.
Or please prove me wrong and explain where/how they’re cost got so high. -
@Senor Nick wrote:
This is probably the most negative site Ive ever been on.
However anyone who knows anything about the cost of building materials and the costs of building and what the cost of land is knows you would struggle to build those units in La Mariena and make a profit at 173000 Euros.
That brings us on to a whole different debate as to what needs to happen for local people to be able to afford property but you cant see building materials and cost of labour comming down in price.
There is loads of cheap property to buy which is truly horrible and have your tried to buy anything else in the City centres then that is where prices need to come down, people are still asking 300k in fuegrirola for very average property.
At the end of the day its times like this that make some people very rich and some people very poor
The next few years will decide who they are.
1) 2100 Euro/m^2 gives an excellent price to Taylor Whatever builder
If they do not get a profit at that big amount of money, they are having a stupid business.2) Fuengirola has very average property for less than 150K Euro. It will come under 100K for average property.
3) This site is not at all negative. Other sites are full of naive people who do not know anything about buying anything, let alone property in foreign country.
Here at people tell it like it is, they are not afraid of calling black as black.
If you cannot take the truth, go to lamer sites.4) The unemployment will so high in Spain, people will work for peanuts,.
Because of lack of demand, the cost of cement and wood will take a beating. The cost of building a house will be lower in the future. -
So even by your own calculations you think a company that makes a profit of €17000.00 Euros on a sale priceof 173000 doesnt deserve to survive, I presume you’ve factored in the following
1 Professional fees
2 Land Costs
3 Agents commission
4 Infastructure costs
5 Building costsYou wouldnt expect any other business to survive on 10% profit margin when you can get 8% in a bank.
Says everything for me really
The reality in Spain is you can buy a resale property for a lot less than you can build a new property for.
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@flosmichael wrote:
@Senor Nick wrote:
This is probably the most negative site Ive ever been on.
However anyone who knows anything about the cost of building materials and the costs of building and what the cost of land is knows you would struggle to build those units in La Mariena and make a profit at 173000 Euros.
That brings us on to a whole different debate as to what needs to happen for local people to be able to afford property but you cant see building materials and cost of labour comming down in price.
There is loads of cheap property to buy which is truly horrible and have your tried to buy anything else in the City centres then that is where prices need to come down, people are still asking 300k in fuegrirola for very average property.
At the end of the day its times like this that make some people very rich and some people very poor
The next few years will decide who they are.
1) 2100 Euro/m^2 gives an excellent price to Taylor Whatever builder
If they do not get a profit at that big amount of money, they are having a stupid business.2) Fuengirola has very average property for less than 150K Euro. It will come under 100K for average property.
3) This site is not at all negative. Other sites are full of naive people who do not know anything about buying anything, let alone property in foreign country.
Here at people tell it like it is, they are not afraid of calling black as black.
If you cannot take the truth, go to lamer sites.4) The unemployment will so high in Spain, people will work for peanuts,.
Because of lack of demand, the cost of cement and wood will take a beating. The cost of building a house will be lower in the future.your point of view is most defo not the truth its your point of view and my point of view is your point of view it totally flawed. Your obviously entitled to your opinion.
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@Senor Nick wrote:
So even by your own calculations you think a company that makes a profit of €17000.00 Euros on a sale priceof 173000 doesnt deserve to survive, I presume you’ve factored in the following
1 Professional fees
2 Land Costs
3 Agents commission
4 Infastructure costs
5 Building costsYou wouldnt expect any other business to survive on 10% profit margin when you can get 8% in a bank.
first of, no price was being factored in. the 80m2 is an example.
Please show us the sqm cost to the developers.
as an example
A friend recently completed on his villa, which is 260m2 built, ploit 1100m2. His total cost for building/fitting came to 280.000€. The plotcost him 135.000€. total cost 415.000€.
He concedes hi paid too much, but it is a quality building with the grounds are inmaculate. His total cost even adding 10% comes to 1755€ sqm.Now if for argument sake we say the development cost the same per sqm (which is unlikely), even at those reduced prices revenue is 32.000€ higher than costs. throw in agent commission of 5% which is just over 10.000€ thats still 22.000€ profit.
of course this is just an assumption. I’d assume most units were sold for more that 173.000€ and the costs per sqm were probably alot lower aswell.
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@Senor Nick wrote:
your point of view is most defo not the truth its your point of view and my point of view is your point of view it totally flawed. Your obviously entitled to your opinion.
Sorry, you did not present any point of view.
Anyway, you seem to think that Spain is a booming market where buyers need to buy today before being priced out forever… Are you still living in 2004? If yes, good for you. 😆
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