November 26, 2015 at 11:30 am #188414AnnieParticipant
We purchased in Oliva 10 years ago but eventually came to live in Spain 5 years ago and love it. I have always read SPI articles, you have advised us all for a long time and I enjoy reading them…
Your recent article is quite interesting about prices and foreign demand for properties in spain. unfortunately we are unable to sell ours and I have now got to the age that once sold, I will rent for a couple of years before I pop my clogs or go to England. I am not sure what people want – from living in a Spanish house, living hand and hand with the Spanish people, learning their language and customs, people seem to be more interested in buying “a villa on an urbanisation”.
The agents here in Oliva charge 5-6%, it’s getting to be outrageous: how prices are judged by these agents and the value they come to is unbelievable and when you ask an agent to come and see your property with a view to selling, the price becomes ridiculously low and boy how quick properties sell. I blame TV shows, where they say that they want a bargain etc. and unfortunately we purchased our property on a Place in the Sun. I feel sad for the people who I believe have been “conned” they want to go back to England but then don’t have the money to do so at these low prices and as I say, both parties sold really too low and we are not prepared to drop but thanks for the advice about offering your property for 10% higher than what you want, we will do that.
There was a fair bit of discussion with both parties to the value of their properties. Drop your price and you will see how quick your properties will sell both were told (not the same agents but in the same town) so they dropped the price of their properties to around 40,000€ – €45,000 after all the expenses and the 6% commission to the agents, there was not a lot left. Plus the agents didn’t tell them that if your property is below a certain price you only pay the agent 3% commission. Both agents were English. I can’t quite understand how British people can rip off their own.
Can I say also that buyers seem to have this dream “let’s go to Spain” but consider this:
1. It’s hot – yes unbearably sometimes and flipping cold in the winter
2. they want a villa – I saw an ad saying “gated community” – so what? Doesn’t stop people robbing you!!! A good car and a chain and rejas come off the wall no problem.
3. They want to live by the sea but also want a pool – so they want both!!!
4. Are they burning their boats? Most people sell their property and don’t have somewhere to go back to if one of them is ill. So they purchase at the top of their budget.
Of the two (well 3 now) friends that have sold, one can afford to move on and repurchase, one bought probably 18 years ago and has made a meagre profit of about 10,000€ by the time all bills are paid, and the 3rd – they are OK they are never going back to the UK.
Sometimes I can see how the Spanish who live around us don’t like us, we are not interested in speaking Spanish (look at Benidorm and Javea and many other towns) and we are not interested in their history and customs.
November 28, 2015 at 11:59 am #188453ChrisParticipant
I don’t understand the point of your argument. First you say you love it here, then you ramble on about prospective buyers and try and dissuade them.
If you don’t like the agents, there are many websites where you can sell your property privately and charge what you like.
May 28, 2016 at 12:20 pm #191042beastygirlParticipant
Yes Chris, I thought exactly the same, very confusing post.
May 28, 2016 at 2:02 pm #191043
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