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Well, a little under a year ago I looked at a really nice urb. with a view to buying a new house. At that time we got all the info and prices and concluded (unsurprisingly) that they were just not good value for money.
Anyway, today I thought I should revisit this, and see if the prices were more appropriate. I guess few here will be surprised to hear that the developer has increased prices 🙂 The house I was interested in was 299000€, and is now 350200€
So what gives? My guess is that they boost up the advertised prices, then try to appear that they are giving a large discount. I wonder why they aren’t selling 😆
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Where is this development ??? I have noticed that good developments in a good area have not lower their prices.
It also a Spanish practise that when a few properties are left unsold. The developers instead of closing the development and moving on by offering a deal they either increase the prices or keep the prices of their final phase.
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Hi El anciano,
As an owner of property in spain much and all as I would like to think that the prices are going up – I just think the developers or their agents are just delusional. I have a felling they will have their apartments on the books for a while if they have increased the price. Ireland was very like spain build, build, build and prices for rabbit hutch type houses were exhorbitant. The property crash started to happen here mid 2007 last year they stopped building and the prices are still dropping and have still a way to go. From what I gather prices in spain only began to drop last year and they were still building apartments along the coasta blanca coast!
Best of luck hunting for that dream home!
😀
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No, we were really keen to buy, but the ridiculous situation here, over the last few years has cooled our desire somewhat.
I was really looking to asses how much they had come down, and how much longer we needed to wait. At least until they fall in line with our perception of fair value. The 2nd hand market has at last started to get a little realistic, and I expect that 6-12 months will see most sellers fall in-line with the trend (or simply withdraw from the market).
We have been trying to buy for a long time now, and after such a long search the prospect of another 9-24 months wait isn’t so bad. I am now used to living in cheap rented accommodation. In fact, we are contemplating moving to a larger, more comfortable (rented) house, as it looks like we have a little longer to go, and rents have fallen quite a bit.
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El anciano wrote:Well, a little under a year ago I looked at a really nice urb. with a view to buying a new house. At that time we got all the info and prices and concluded (unsurprisingly) that they were just not good value for money.
Anyway, today I thought I should revisit this, and see if the prices were more appropriate. I guess few here will be surprised to hear that the developer has increased prices 🙂 The house I was interested in was 299000€, and is now 350200€
So what gives? My guess is that they boost up the advertised prices, then try to appear that they are giving a large discount. I wonder why they aren’t selling 😆
This is an old Spanish practice , a property has n´t sold or been let after a year ,so they say to themselves lets put the price up 10%. They have been doing it for years, they forget, that hopefully people are not as
stupid as they were and that the gravy train of ill informed gullible people has for the moment at least disappeared. Although I am sure when the market does recover , the “Leave your brains at Gatwick airport” office will be doing record business. All the rats will come out of the woodwork set themselves up as “property experts “and begin pushing Spain as the greatest investment opportunity in the history of man.We must keep this forum going it is probably more important that it flourishes in the good times than now, in order to help people to protect themselves from themselves and the property rats. Memories in general are short, a couple of months of apparently good news, press ,radio ,tv have a vested interest in selling advertising and will print, or say any old rubbish if it boosts advertising revenues and people will take on a lemming type mentality and a second home abroad will become a” must have”.
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