August 7, 2007 at 7:36 pm #53077
Spent Friday to Sunday around El Rompido, Punta Umbria and Portil looking for property. No sign of any distress selling!!. The local estate agents say no one is reducing their prices. One reason could be this area is not like CDS, ie hardly any urbanisations. Every place here is within walking distance of beaches, shops and restaurants. Am at a loss, what to do next. Do I wait and see the ripple effects come across from CDS & bring down prices OR commit now.
But there is a urbanisation near Ayamonte, quite big with golf course,etc.
There are quite a few properties for sale here, but shops, beach are not within walking distance. Need a car! There was some evidence of price reductions here, but area not my cup of tea.
My conclusion for what it is worth is that property within walking distance of shops, beaches etc are holding steady whereas places where non spanish tend to buy ie huge urbanisations have an excess supply.
Would welcome your thoughts on this and my other points.
August 7, 2007 at 9:27 pm #73901
El Rompido is an absolutely stunning area.
It was also my experience that there are no “distressed sale” bargains to be picked up in this area, so you might have a long wait if that is what you are after. If you have seen something that you like then I would say go for it. I can’t see the 30% price drops that are predicted on the CDS happening there.
I’m curious to know why Punta Umbria is on your list? It’s nowhere near as beautiful as El Rompido and Nuevo Portil.
August 7, 2007 at 11:09 pm #73902
Did you see the developments around and down from the Islantilla golf to the beach at Lepe
I went there out of season and it was like the Day of the Triffids. Not a sole to be seen like everyone had been abducted and deathly quiet. Walking round the shops by the beach everything was shut for winter
OK living in the centres of Ayamonte (very nice), Lepe, Isla Cristina etc but I wouldn’t go near the new developments away from the towns (visit in winter)
Beaches and coastline are superb though!
August 8, 2007 at 7:54 am #73903
Islantilla is a purpose built beach/golf resort. El Rompido and Punta Umbria are “proper” towns so the flow of people is different.
August 8, 2007 at 10:49 am #73908
No sign of any distress selling!!.
I don’t think we are seeing huge amounts of distressed selling on the CdS, it is the main reason imho why we haven’t had a huge crash but a softer landing so far, although this could change when the constructio industry starts to contract. So far most households are not under too much pressure to sell, as although there have been interest rate rises they haven’t been as bad as when the market crashed in the UK in the late 80s/early 90s. A recent report by Fitch Ratings said that Spain was ranked 13th of 16 in household debt vulnerability.
August 8, 2007 at 11:09 am #73909
August 8, 2007 at 11:21 am #73910
August 8, 2007 at 11:53 am #73911
And here (beach near Marbella last week):
But not here (Bearch at Hurricane Hotel, Tarifa, last year)
or here (Punta Paloma, last year)
August 8, 2007 at 7:05 pm #73922
I’m curious to know why Punta Umbria is on your list? It’s nowhere near as beautiful as El Rompido and Nuevo Portil.[/quote]
Punta Umbria is a very typical spanish town with decent shops & restaurants. But with an added bonus of the beach being only a walk away from any part of the town. Have you heard any bad vibes about Punta Umbria ??
August 8, 2007 at 7:42 pm #73923
No, I haven’t heard any bad things at all. In fact all I have heard is that the restaurant life is very good.
It’s just that when you compare it to El Rompido it is nowhere near as attractive. But I suppose if you want good shopping then Punta Umbria would be better.
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