Reply To: Question from down under…. What is realistic?



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.