[Anonymous]

Estimados Damas y Caballeros,

I would like to buy a 2-3 bedroom apartment on the coast close to Alicante. Unfortunately, I have very limited knowledge of the property market in general (bought a chalet in France years ago), and only a glimpse of Spanish realities.
Having read this valuable forum, I understand that the forum users believe that prices in Spain may possibly go down in 6 months- one year time (??). But one has to study the market in advance.
Therefore, I plan to come to Alicante this February for a week to look closely at offers. I understand and speak some Spanish.
I hope to have funds enough to buy w/o mortgage.
Ideally, it is better to buy directly without agents, I would like to know ways how to do it in practice.

I will appreciate any advice corresponding to the situation described.

Thank you for understanding,
Tim

[Anonymous]

“I would like to buy a 2-3 bedroom apartment on the coast close to Alicante. Unfortunately, I have very limited knowledge of the property market in general”

BETTER START LEARNING FAST.

Having read this valuable forum, I understand that the forum users believe that prices in Spain may possibly go down in 6 months- one year time (??).

YES, PERHAPS, IT ALSO DEPEND HOW OLD ARE YOU. WOULD YOU RATHER ENJOY YOUR RETIREMENT OF IF THIS NOT THE CASE YOU CAN WAIT & SEE.

But one has to study the market in advance.

THIS IS THE LEAST ONE CAN DO.

Therefore, I plan to come to Alicante this February for a week to look closely at offers. I understand and speak some Spanish.

WEEK OR TWO IS NOT SUFFICIENT IN SUCH A MARKET.

I hope to have funds enough to buy w/o mortgage.

GOOD, AS THE € IS STRONG, I SUGGUEST YOU TAKE WHAT EVER MORTGAGE YOU CAN & ONCE £ IMPROVES PAY THE MORTGAGE OFF. DO NOT FORGET THE COST OF OBTAINING A MORTGAGE.

Ideally, it is better to buy directly without agents, I would like to know ways how to do it in practice.

CHECK OUT THE AREA YOU WANT TO BUY & SEE HOW MANY HAVE FOR SALE BOARDS, CONTACT THEM.

[Anonymous]

Hi Tim,

Some things to consider:

A couple of major banks are predicting falls in property prices of another 15% over the next couple of years.

There is a wide range of pricing in this area, and it is really difficult to know where the market is. You really need to research very fully, and still be cautious. Prices are IMHO still very high in general, but there are a few that are priced sensibly. These are of course the exception. I still like the advice I first read here, something like if you are not embarrassed by you offer, then it is too high.

A lot of property is badly build & poorly insulated, and not fully legal. Be cautious!

I’m not convinced that the expat market will recover in this area, so consider buying something that will attract Spanish buyers in the future.

Urb fees vary widely. Check before you buy.

And finally, when you find an area you like just drive/walk around, you will see plenty of for sale boards up, many have private phone numbers. Also, just talk to people in the street/bars, my experience is you will quickly learn that “my friend, is desperate to sell…”

Good luck 😀

[Anonymous]

Dear Shakeel,

Thank you for your prompt response and advice, which I take on board with gratitude.

“YES, PERHAPS, IT ALSO DEPEND HOW OLD ARE YOU. WOULD YOU RATHER ENJOY YOUR RETIREMENT OF IF THIS NOT THE CASE YOU CAN WAIT & SEE. “
Yes, I plan to retire in 1.5-2 years time and NOW I start looking for a 2-3B apartment to spend winters, cold springs and autumns with my wife, but not summers – we cannot stand heat. Therefore due to the latter and also due to transport and other considerations, I would like, currently, to see closer COSTA BLANCA in 90 km radius from Alicante airport, to the N or S from Alicante.

“WEEK OR TWO IS NOT SUFFICIENT IN SUCH A MARKET.”

“CHECK OUT THE AREA YOU WANT TO BUY & SEE HOW MANY HAVE FOR SALE BOARDS, CONTACT THEM.”

Once I find a place we like I plan would come again for a week and so on..

I will appreciate if I could get any piece of advice here.

Thank you again,

Tim

[Anonymous]

@tim_grig wrote:

I would like, currently, to see closer COSTA BLANCA in 90 km radius from Alicante airport, to the N or S from Alicante.

Look at

kyero.com
idealista.com
fotocasa.es

Follow prices for at least 1 year.

Try to rent for 6-12 months in places you would like to buy. Don’t worry, prices will not increase anytime soon.

Alicante area has enough empty properties to keep prices low and decreasing.

[Anonymous]

Dear FlosMichael,

Thank you very much for your informative reply.
Physically, I cannot have time to monitor many immo sites, but three – is fine: I understand these three are the biggest and most representative.

Thank you again,
Tim

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