[Anonymous]

Hello

I am trying to buy an inland townhome for my retirement.

I am looking to spend up to 150000 Euros.

And my questions are.

Is it the right time to buy?

Are there any repos or distressed prop. to be had?

Any good web sites to look at?

Where can I get an area newspaper to subscribe to?

Any help , will be very much appreciated.

Thank you

David

bentdavi@cox.net

[Anonymous]

wait 2-3 years, the property crash is only just beginning. Whatever you buy now will lose 10%-20% per year for at least 2-3 years

[Anonymous]

wait 2-3 years, the property crash is only just beginning. Whatever you buy now will lose 10%-20% per year for at least 2-3 years

Unfortunately that’s the only view you’ll get on this board. No reasoning, no insight, no analysis.

No one knows where prices are heading. NO ONE!

[Anonymous]

Ashton, what are you smoking old boy ?

The ONLY certainty is that spanish property prices are crashing. There are some 2 million unsold properties left in spain as a result of the last housing boom. Spain built more houses than the UK, Germany and france combined and now has a surplus. This will assist a massive price crash, as will the lack of credit as the banks tighten their belts. Another contributing factor to the lack of confidence in spanish property has been the farcical situation regarding build legality (remember the BBC showing villa’s getting bulldozered….this has caused huge amounts of uncertainty in the UK as the potential buyers wait for the spanish to provide legislation that will properly protect the buyer)

However, if you want to believe that prices will actually increase then there is little hope for you…..but please do not spread your delusions to people visiting this forum asking for assistance.

[Anonymous]

@ashtondav wrote:

Unfortunately that’s the only view you’ll get on this board. No reasoning, no insight, no analysis.

bentdavi – ignore the above statement.
Reasoning, insight and analysis has been discussed exhaustively on this forum in the last six months or so.
Suggest you have a read through these couple of threads for some ‘insight’.

Spanish property market 2007/2008 report discussion
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=2883&postdays=0&postorder=asc&start=0
(there’s 30 pages of ‘resoning, insight and analysis there for you)

Spanish property market 2008: soft landing or train wreck?
http://www.spanishpropertyinsight.com/forums/viewtopic.php?t=2781&postdays=0&postorder=asc&highlight=soft&start=0
(23 pages likewise)

Both threads were started by Mark, the Administrator of this forum. It seems there’s someone who just doesn’t bother to read the discussions.

@ashtondav wrote:

No one knows where prices are heading. NO ONE!

But there’s a slight inkly-tinkly feeling at the moment that over the next couple of years it could well be……….DOWN. 🙄

Good advice from Kingy who no doubt has bothered to read the forum and is at least aware of what is happening in this big wide world of ours at the moment.

[Anonymous]

I’m with Kingy on this one. You don’t need too many brain cells to work out that poperty is not a good buy at the moment.

Rent first. Get a feel for the area. If after a couple of years you like the place then buy.

[Anonymous]

….And would you really take advice from someone who boasts in his sign-off signature: “Sometimes I sits and thinks – and sometimes I just sits…”.

Too much just sitting without thinking perhaps?

[Anonymous]

….And would you really take advice from someone who boasts in his sign-off signature: “Sometimes I sits and thinks – and sometimes I just sits…”.

No Charlie – I wouldn’t 😉

[mike]

@ashtondav wrote:

wait 2-3 years, the property crash is only just beginning. Whatever you buy now will lose 10%-20% per year for at least 2-3 years

Unfortunately that’s the only view you’ll get on this board. No reasoning, no insight, no analysis.

No one knows where prices are heading. NO ONE!

You’re right, of course, no one can know the future. What happens if we get Zimbabwe style hyperinflation? That €150,000 house could then easily double in price 😉

[angie]

Or that 150k euro house could be worth 100k euro more likely, prices like Spain’s economy have a lot further to fall (off a cliff!) and not just Spain’s.

[Anonymous]

Ashtondav, this is from Saturdays Telegraph:
http://news.bbc.co.uk/1/hi/business/7637319.stm
If Spain is close to recession, house prices are going to fall….further 😉

[Anonymous]

I would like to thank everyone that replied, I do appreciate it enormously.

Please keep the comments coming. It helps a lot.

If you are ever in my neck of the woods , please stop by.

I live in sunny Arizona.

Thanks Again

Best regards to all

David

[Anonymous]

Bent Davi. You’ll get used to the bickering and arguments on this forum if you hang around. For what it’s worth my opinion is that Spain is rather like the UK, with changes in house prices depending on where you live and what you are selling. The Costa del Sol is rather like certain English city centres – too many 2-bed flats bought off plan, often for a quick profit, and impossible to sell. But there are also more desirable areas – northern Costa Brava around Tamariu, Calella de Parafrugell and Begur is equivalent to parts of Northumberland, Cornwall, East Anglia – areas which have largely controlled building and remain high on the wish list of potential buyers. Prices here may not be rising, but they are certainly not plunging. Elewhere, there is a decline, but not as dramatic as on the south coast. If you find somewhere you like, make a sensible offer – you will enjoy living there and certainly won’t lose in the long term. Homes are about lifestyle, not making a quick buck as some unhappy people on this forum are discovering at their cost.

[Anonymous]

To quote (again 😉 ) from a property article:
The Costa Blanca market has almost completely collapsed……..

[Anonymous]

er…that’s the point I was making. the Costa Blanca was largely uncontrolled, like the CDS. I know from personal experience that the northern Costa Brava has largely avoided those problems. There are still pockets of coastal intelligence among the planner, but it’s not too easy to detect them.

[katy]

David, I am being plain nosey here but including legal oncosts here you will need to spend cerca $250,000 to get a Townhouse in Spain. At the moment there are some wonderful places in the USA where that money would buy you a 4 bed spacious modern house with pool. That is where I would be if I could get permanent residence. 😕 Are you a USA citizen?

[Anonymous]

Yes I am a US Citizen, and yes in some areas in US you can find homes at that price. But Not in my area. The west and SW , is very expensive.

I have a 3000 sq ft home in Scottsdale AZ , with pool, but that set me back Mucho pesetas, and some american money too. $950K

Yes US is Beatiful, but no warmth like we encountered in Southern Spain. I have lived in this country 40 years, I have multiple acquaintances, but no real friends.

Regards

David

[Anonymous]

bent davi,

The property market in spain has gone from boom to bust, and (just like the USA) house prices have been inflated, and are falling. There is a glut of rental properties on the market at the moment, and in a falling market it might be in your interests to rent in a few different places, to give you a feel for the type of property/area/style you like. This will prevent you from buying into negative equity

This website will give you a good idea of property prices/types. Honestly, I would rent rather than buy right now.

also – if you like a mild year round climate then consider the canary islands. Off the coast of africa, they get mild ‘winter’ temperatures but are still spanish territory

[Anonymous]

http://www.kyero.com/

[Author]

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