January 12, 2013 at 3:28 pm #57225
“The six-month figures from June to September show 1,706 properties were sold in Torrevieja and 1,194 in Orihuela.”
“The area has golf courses, marinas, some of the best beaches in the region and great gastronomy.”
I have faithfully reproduced the above from the paper version of the Costa Blanca News, the online version doesn’t show the detail because they want you to buy the newspaper.
January 12, 2013 at 10:16 pm #114588
La gente no interesa en este commentario.
Surely it can’t be because they don’t want to hear good news about Spain?
Here’s some more: “Morgan Stanley points to Spain and Switzerland as the most attractive European countries in which to invest this year.”
You can’t ignore Morgan Stanley, they’re near to the top of our investment bankers.
I suspect some of the negative posters have blocked good news about Spain to continue their negativity. It takes all sorts.
January 13, 2013 at 10:05 am #114591
Hehe it’s like normal with investment bankers. What they normally do is to recommend their clients to do one thing and then do the opposite.
January 13, 2013 at 11:39 am #114595
You are so right there Ardun 😉
January 13, 2013 at 12:28 pm #114598
I must admit I share the negative views on investment bankers, but where do you turn for proper advice on the Spanish property market? By the time the land registry figures are released the market has moved on, either up or down, by six months.
The encouraging figures for the Vega Baja region at least point to market activity, some three thousand sales for an area occupying a 15 kilometre stretch of Spain’s Mediterranean coast. There are 800 kms both to the north and the south of it, without even considering the Atlantic coast or Northern Spain.
The recovery will start somewhere and as usual all of us experts will miss it.
January 13, 2013 at 2:41 pm #114599
Yes that’s true Rocker. The turn around is most likely to come around when very few expects it and I can agree that very few have a positive short term outlook on the real estate market in Spain. For example it’s time to leave the stock market when normal folks are talking big about investing etc the same applies to all sorts of investments.
The activity in that area is only happening because of a few select buyer groups and without the spanish or all other foreigners doing the same I have a hard time seeing it going on for to long. Don’t forget that this is the area where prices have gone down the most also. It’s also hard to know if these transactions are private buyers or just banks trading real estate between each other. A good sign is that transactions are occuring down at whatever price level.
January 13, 2013 at 4:35 pm #114606
I doubt the recovery will start in Torrevieja, the carbuncle of the Costas 😯 Don’t forget transaction figures include bank foreclosures, inheritances too.
January 13, 2013 at 5:04 pm #114609
Katy, Torrevieja isn’t that good.
January 13, 2013 at 5:35 pm #114610
The Russians love places like Marbella and Torrevieja, and I’ve always wondered why. But if it’s true that they are going to be the saviours of the Spanish property market, then it would be logical for those awful places to be in the front line for Eastern investors.
Both places have an abundance of golf courses, but I don’t even know whether Russians are all that keen on the sport. Both places have former mayors who are now in prison for corruption, perhaps that’s the attraction for the Russians with their suitcases full of Roubles? Are they black in colour?
January 14, 2013 at 9:53 am #114621
They’re here and they’re spending more than the British tourists. And they’re buying houses. One complex on the Costa Dorada is 78% Russian owned.
It may be a trickle now, but it could well be the start of something much bigger. In my view it was all so inevitable – if you look back at what Spain has to offer, sunshine, cheap housing and a welcome from the Spanish people, what more could you wish for?
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