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Hey lads and lasses, been monitoring this site for a fair while…. and have finally taken the plunge to post….
I live in Melbourne, Australia, but own a place on the CDS. Hope no-one minds me asking but I have noticed there are a few agents on this forum and they keep talking about sellers and realistic prices. In which case, could Inez, or others, perhaps advise what a realistic price would be for a 4 bedroom penthouse with jacuzzi in Gran Bahia de Marbella?
Personally, i think it will take 5-10 years before we get anywhere near peak prices of 2004/5 (if indeed prices ever return to those levels – I have my doubts). Still, I’d appreciate the views of people on the ground so to speak.
As an aside, I have to say that Australian housing knocks anything Spain can offer into a tidily cocked hat. The holiday homes on the Mornington peninsula for example make their Andalusian equivalents look like ersatz, eatsern block wannabes. Still, property here is ridiculously expensive on an income/debt ratio – they will, soon I fancy, suffer the MOTHER of all property market corrections. The other problem is, as they say, the “tyranny of distance”. If Australia could retain it’s climate and be towed somewhere to the mid Atlantic, I doubt there’s be a single English speaker left in mainland Europe!!
Still, their telly is crap and they can’t make decent biscuits (oh, the crosses we must bear).
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Hi Salinger and welcome to the forum. I’m not an agent so can’t answer your property value question.
I see you are from Melbourne. We (my family) have been watching in horror, the TV news covering the bush fires. What a tragedy! Our hearts go out to all the people who have lost their homes and/or loved ones. Stay safe. -
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The best answer I can offer you is do a search of all the online estate agents in the area you want. Find said penthouse then reduce the asking price by at least 40-50%. That will be the figure you can start from. Estimate and plan for actually buying for a ball park figure of around 60% of asking price and you will be not far out.
Even better find a re-pro and buy it from the bank. -
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@shakeel wrote:
I dont think he is wishing to buy. He just wants to have a valution.
In that case my post applies equally.
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Ok, all my cards on the table (jeesh, I didn’t think people would be so interested!!).
I am originally from Newcastle, UK. Moved out to Melbourne about 4 years ago and fell in love with it. The city, the architecture, the food, the people, the sport, the climate (bush fires aside, Melbourne heats you up then seriously cools you down, but has proper seasons) ……Like everywhere, Australia has its problems, but all things considered I think it deserves its “lucky country” moniker. The only problem is they have made it a LOT harder to get in (I now have permanent residency so am one of the lucky ones). Still, if you have the wherewithall it is DEFINITELY worth the effort to get a visa and a FANTASTIC country to raise children.
Yes, I own a place on the Costa Del Sol, in Gran Bahia de Marbella. It has sea views, although they are not uninterrupted. I am also quite aware of the property crash in Spain and the UK (it will be arriving in Australia too very shortly). I noticed someone commented re: pick a figure and apply 60% to calculate a realistic value. I’d rather just pick a figure which is realistic in the first place to be honest. Like some other owners I am in the fortunate position of not having to sell, but I am looking at the market and wondering about capital realisation now, versus a sit tight and see where and when the market stabilises. Whilst I imagine NO-ONE can say when or how much that might be I’m under no illusion that it will be along time coming and involve serious depreciation. I have to offset this notional loss against returns on that sum invested and I also have to consider the utility gained by my UK family and friends who use the place fairly regularly.
Inez, yes, it is opposite the CDS hospital – I will get back to you with the build size – could you advise how I contact you directly?
Thanks for the welcome guys and gals and for your advice. Much appreciated.
ps: Glad to see some people are receiving justice on the SM Green Hills shermozzel. Spain still has a long, long way to go to shake off the dust of mistrust.
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Salinger
re:ps. I’m not sure the duster’s even out of the cupboard yet?
I guess many are in your situation?, if you don’t have to sell now, why would you and lose £40/50/60k? I thought at one stage all prices in Spain would fall through the floor, but now think apart from desperation sales, most will just sit tight and ride the storm. So perhaps the amount of really cheap desireable property will be in short supply, so will keep the prices from bombing? I think the undesireable/half finished/middle of nowhere places probably wont shift at virtually any price, for fear of being worth even less in future due to the huge glut of them.
Probably wrong, who knows for sure?
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Hi Salinger, on the base of my post there is a button marked pm. This is for private messages and will come into my inbox, you can contact any other member this way and they can contact you back.
Agree Goodstitch, many dont have to sell and will just sit on it as a toy they can afford. Others have to sell and good prices are being seen BUT are being snapped up by the spanish, who do still have cash or saved it during the good times, and there are quite a few of these, suprisingly (and luckily).
Others, like Salinger, want a realistic price so they can decide what to do if they want to do something, like pounce on property in Oz when it becomes cheap, perhaps? 😆
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