Fotocasa hits 400,000

[Anonymous]

Now showing over 400,000 proprerties for sale in Spain.

1 May — 325,000
1 June — 336,000
1 July — 350,000
1 Sept — 360,000
1 Oct — 377,000
1 Nov — 400,000

Rate of properties coming on to the market is definitely increasing over Sept-Nov.

I am being very generous in guessing that fotocasa shows 10% of the market…

Hence I estimate 4 to 5 MILLION properties for sale and increasing!!!!!

[adiep]

10%? Do you really think it’s that number of the total on fotocasa? What makes you think that? by God there’s a crash an half coming if you’re right!

[Anonymous]

Yes, I think 10% is a pretty good estimate.

Here’s the calculation.

Approx number of complexes in Almerimar (30 as counted on google maps)
Average number apartments per complex 350

Total number of apartments = 10500

In one complex that I previoulsly owned I counted over 30 “For Sales” boards which is about 10% of the apartments in the complex. So if you use that as a guide and say that 10% of apartments in each complex are on the market then in Almerimar there should be around 1000 apartments “For Sale”

Fotocasa returns 144 apartments which is around 13% of the market.

BUT…..

For a great deal of those 30 complexes there are a significant number where virtually all the properties are for sale as they were completed 2008, 2009, when buyers were thin on the ground. So for Almerimar 10% of properties on Fotocasa is being generous.

What is definite is that since May the number of properties on fotocasa has increased by 25% so it’s almost certain that the total market has increased by 25% in this time and it continues to grow!

[Anonymous]

On another thread:

@Rocker wrote:

I was sipping my coffee in a Spanish bar right next door to one of the re-opened premises this afternoon and saw a steady stream of what appeared to be British people going through its doors.

It may well be then that they were sellers, not buyers.

[adiep]

@jp1 wrote:

Yes, I think 10% is a pretty good estimate.

Here’s the calculation.

Approx number of complexes in Almerimar (30 as counted on google maps)
Average number apartments per complex 350

Total number of apartments = 10500

In one complex that I previoulsly owned I counted over 30 “For Sales” boards which is about 10% of the apartments in the complex. So if you use that as a guide and say that 10% of apartments in each complex are on the market then in Almerimar there should be around 1000 apartments “For Sale”

Fotocasa returns 144 apartments which is around 13% of the market.

BUT…..

For a great deal of those 30 complexes there are a significant number where virtually all the properties are for sale as they were completed 2008, 2009, when buyers were thin on the ground. So for Almerimar 10% of properties on Fotocasa is being generous.

What is definite is that since May the number of properties on fotocasa has increased by 25% so it’s almost certain that the total market has increased by 25% in this time and it continues to grow!

well its certainly not a scientific approach youve come up with, but I suspect youre not a million miles away in believing the number is a lot higher than FC shows. I can see something similar in La Linea, FC has around 400 properties, I can say with some comfort that there’s far more than that, perhaps 3 or 4 times. We dont have empty blocks of flats here, its not a holiday town.

Perhaps your estimate needs to take into account that not all towns have huge empty complexes, certainly inland villages dont.

I suspect the number is at least 3 times, perhaps 4.

BTW, its now 402k

http://www.fotocasa.es/Search/results.aspx?t=&l=0&tti=1&prchti=2&bti=2&bsm=&opi=36&cu=es-ES

[adiep]

Actually, I love browsing fotocasa, here is one of my old favourites, looks like an ex-brothel

http://www.fotocasa.es/chalet-torre/rubena/garaje-privado-trastero-piscina-parking-comunitario-n-1-122927602

pretty cheap, know any … ahem maybe not.

[katy]

It is cheap because it’s just for the lease (traspaso).

[adiep]

Ah, thanks Katy.

So 50k a year… That’s a lot of tiffin.

[adiep]

This looks like a fun project if the vendor will come down by 30k http://www.fotocasa.es/vivienda/langa-del-castillo/casa-de-pueblo-con-mucho-jardin-123852138

wonder if its legally habitable.

[Anonymous]

@adiep wrote:

This looks like a fun project if the vendor will come down by 30k http://www.fotocasa.es/vivienda/langa-del-castillo/casa-de-pueblo-con-mucho-jardin-123852138

wonder if its legally habitable.

€89k
Plot 450m2
Built 800m2
Bed / Bath: 5/1
Best of all, the condition is described as ‘good’

Fun project or big headache?

[Author]

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