Would like some advice. We purchased a 3 bed apartment in south Costa Blanca in 2005 in an urbanisation called Zeniamar . Very happy with it but our kids are getting older now and instead of being tied to the one place we would like to travel to other destinations. We purchased the property including a garage for E250,000 – I would be grateful for advice regarding what it might sell for in the current climate – is it a 20% reduction at the moment? Or is there anything selling at all?
Looking at kyero.com, it seems that there are 3 bedroom apartments in Zenia for around E125K.
Considering you purchased Euros at 1.5 Euro/£, i.e. the cost of your apt. was about £166K and that E125K is about £120K, your loss would be around 25|% which is not disastrous considering the current situation.
The main problem is that Torrevieja area is the most overbuilt area and there are hundreds of thousands of apartments for sale/rent.