Reply To: Anyone looking for a bargain in this market?

#87218

Anonymous
Participant

About bargains:

– I received some advertisement about some Isla Canela (Huelva) properties.
I have never been there but the beach there seemed magnific, I was almost tempted to
give it a try.

But then I observed that the “bargain” advertised cost was actually for about
3000 Euros/m^2 which is enormous for a mostly undeveloped region. Also, lookign at
holidaylettings site I saw that there are 150 properties to rent on Isla Canela
with 8 months of the year at about £150/week and almost nothing occupied even at that
cheap price.

So there is a no brainer that prices there are meant to fall far from the current “bargain level”…

– Looking at holidaylettings I saw that most of the properties around Cabo Roig, Villamartin, Campoamor, Zenia barely have 1-2 weeks of rental in the next 6 months.
And some are asking £80/week to £100/week ( which might be a BETTER price than paying electricity and heating in UK when staying home). I guess £100/week barely covers the owners cost of electricity/water/communal charges.

If they cannot rent at £100/week, why would anybody buy in that region? I think that
property there is truly unsaleable unless people dump it on the market at ridiculous prices to get rid of it.