- This topic has 17 replies, 8 voices, and was last updated 15 years, 10 months ago by
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I take an occassional peek at the private sales and I was hoping by now to see some bargains. I expect many inland properties (small terrace houses or 2 bed apartments) to go for around €50K at some point and cheaper property in the major resorts to ask for €75K. Not that I would buy at those prices but it would be a sign that the market is coming back to earth and if one were to dig a bit there may be some interesting properties at realistic prices. But that doesn’t seem to be happening. Any thoughts?
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I know what you mean.
I think it’s still a pricing thing and not wanting to go in too low but being open to offers.
and agents still saying it’s worth +++++
maybe in 2009 we’ll start seeing lowing asking prices in estate agent windows.
there seems to be no shortage of agents trying to sell bargain developments and distressed properties and so on but still few buyers or buyers who will not make that final decision etc
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@vilprano wrote:
Hi Sorbas area detached property to 250K with or without land.
i’ll be honest, don’t know the area. but a quick google search (in spanish) brings up a few options
http://216.239.59.132/search?q=cache:qZa4g563AL4J:www.nestoria.es/sorbas/casa/comprar+casa+en+venta+en+sorbas&hl=es&ct=clnk&cd=2&gl=es -
@Fuengi wrote:
hi guys.
when you say inland where do you mean?
Anywhere, I’m more interested in the market than buying. But I am particularly interested in the Costa del la Luz as I used to live there.
@Fuengi wrote:
what sort budgest and what sort of characteristics.
€50K and an apartment in the centre of town or a small house near the centre
@Fuengi wrote:
Don’t worry I don’t sell inland properties, but maybe i can give you an idea where to look
I’m sorry that you feel the need to reassure me that you aren’t selling anything. Hopefully the estate agents that stick around and tell it like it is will gain custom and get rich on well deserved commission……some time in the future, of course!!
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@mike wrote:
I’m sorry that you feel the need to reassure me that you aren’t selling anything. Hopefully the estate agents that stick around and tell it like it is will gain custom and get rich on well deserved commission……some time in the future, of course!!
must admit, i’d rather it be now. 😉
there are old run down houses at the price. the you the traditional village type at those prices or have been. not sure if the are on the CDLL though.
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@mike wrote:
I take an occassional peek at the private sales and I was hoping by now to see some bargains. I expect many inland properties (small terrace houses or 2 bed apartments) to go for around €50K at some point and cheaper property in the major resorts to ask for €75K. Not that I would buy at those prices but it would be a sign that the market is coming back to earth and if one were to dig a bit there may be some interesting properties at realistic prices. But that doesn’t seem to be happening. Any thoughts?
There are no bargains yet.
In USA the crash started in 2006 and it took more than 2 years to find some bargains (especially foreclosures). In Spain/UK it started in 2007 and by Fall 2009 maybe there should be some bargains.
Maybe not. If the £ stays under 1.20 Euros the bargains will need to be really substantial.
So there is at least another year to wait. By then the recession/depression might be so deep that nobody in UK thinks of buying properties abroad.
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There are definitely bargains on the market… The issue is that there are still very few, so it makes finding them a real tough adventure.
I would also suppose that many are from locals (80% of the spanish get to the end of the month and have 0€ on their account – just read that somewhere today!!)… Thus I’m guessing you would have to look in Spanish if you wanted to see/find some real bargains.
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@giorgio wrote:
There are definitely bargains on the market… The issue is that there are still very few, so it makes finding them a real tough adventure.
I would also suppose that many are from locals (80% of the spanish get to the end of the month and have 0€ on their account – just read that somewhere today!!)… Thus I’m guessing you would have to look in Spanish if you wanted to see/find some real bargains.
I’m afraid that the Spanish have lost my trust. I’d much rather buy from a distressed British seller.
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@giorgio wrote:
There are definitely bargains on the market… The issue is that there are still very few, so it makes finding them a real tough adventure.
I would also suppose that many are from locals (80% of the spanish get to the end of the month and have 0€ on their account – just read that somewhere today!!)… Thus I’m guessing you would have to look in Spanish if you wanted to see/find some real bargains.
To look in Spanish where? The idealista, segundamano and fotocasa sites do not include any real bargains.
Are there some hidden sites?
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It is rare to find a bargain from the Spanish, the value put on their properties is unrealistic. Not unknown for them to up the price when someone shows an interest.
The Spanish will be watching and waiting and jump in when there are real bargains. Most of the initial ones will never get on the market, snapped up by friends and relatives of those in the know.
Have posted this before but one of my neighbours was a head waiter in a large Marbella Hotel. After receiving redundancy pay he started to buy up properties during the last crash in the early 90’s (including the large house he now lives in). Started with a couple of apartments front line beach, another villa (all at knock down prices) then he went into commercial property. He states all his bargains were through local contacts, his bank, cousin in property agency etc.
Even community Gardeners etc. pass on info’. Generally, the Spanish aren’t interested in living in developments purpose built for holidays (unless they are Madrileños and are close to Banus). They don’t like to pay what to them are high community fees.
Most British Estate Agents can’t tap into this network because they don’t even speak Spanish. Incredible I know, when they work here but that’s how it is.
Anyone seriously looking should advertise so that private sellers contact them and see what they are offered in their price range.
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@mike wrote:
@giorgio wrote:
There are definitely bargains on the market… The issue is that there are still very few, so it makes finding them a real tough adventure.
I would also suppose that many are from locals (80% of the spanish get to the end of the month and have 0€ on their account – just read that somewhere today!!)… Thus I’m guessing you would have to look in Spanish if you wanted to see/find some real bargains.
I’m afraid that the Spanish have lost my trust. I’d much rather buy from a distressed British seller.
unfortunately except on the television shows most brits did’nt buy the white house in the pueblos. and from the few i do know they were cash buyers like yourself so generally not in the sitation that they ‘have to sell’. Or they reformed it and are asking a fortune 😯
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