Trampa501 Posted April 18, 2009 Posted April 18, 2009 Now is the time to buy property in Spain, before prices rise significantly... Spanish property Mmmm, I think I'll pass on this one. Quote
'Bart' Posted April 19, 2009 Posted April 19, 2009 Prices this low suggest a potential to rise significantly in years to come.That is the message from Bridget Rosser, sales and marketing manager of the Cheltenham-based Almanzora Group, a company that sells property in the Almeria region of south-east Spain. Prices for some of the properties on the resorts sold by the Almanzora Group have been reduced to levels not seen since 2003. Ah. Quote
Dubai Posted April 19, 2009 Posted April 19, 2009 Publican says now is the time to buy beer.... Quote
Bloo Loo Posted April 19, 2009 Posted April 19, 2009 went to Fuerteventura earlier this year. A: the place was empty compared to other years we have been. B: blocks started when we went last, about 2 years ago, still uncomplete and abandoned. C: many apartments up for sale with free car incentives and all sorts, but still silly billy prices. looks to me like developers and private sellers are still in denial in Spain. Quote
Frank Hovis Posted April 19, 2009 Posted April 19, 2009 (edited) I had a bit of a poke around that site. There are a good few people there who see it as it is. This thread on the forum could have come from here, complete with bulls-in-denial: Stuck in Spain unable to sell up and go home? A typical bull numpty: My brother-in-law paid 57,000 euros for his very large three bedroom apartment in 2001. Ours was 100,000 in 2005 and then valued at 130,000 in 2007 for our disasterous 're-mortgage'. But, the prices can't all go back to those as too many people, like ourselves, have mortgages and can't drop the prices. Therefore the banks need to start lending at lower rates to enable youngsters to be able to buy and start people living in these empty buildings. Wages aren't going to suddenly rise by 100% any time soon.... Won't the banks prefer to make less profit than risk the empty communities being over-run by gypsies and immigrants squatting? Obviously never heard that prices are set at the margins. And a "telling it how it is" post: The banks cannot lend like in 2007. In 2007 they did not take the risks as they sold the mortgages as CDS to investors. Now they really take mortgages on their books and need to make sure that people can repay mortgages. I would say that in the next 15 years things will not get back to the 2007 style lending. Youngsters will be able to buy when the prices return to 3.5 anual salaries. Then their 10% deposits will be about 5000 Euros, plus 5000 purchase fee. And their 350 Euro/month mortgages will be about the same as the the rent. Very cheering reading. Any prospective purchaser reading that will not be tempted into bankruptcy by the vendors. Edit: "teh" usual typos. Edited April 19, 2009 by Frank Hovis Quote
mattyboy1973 Posted April 19, 2009 Posted April 19, 2009 My brother-in-law paid 57,000 euros for his very large three bedroom apartment in 2001. Ours was 100,000 in 2005 and then valued at 130,000 in 2007 for our disasterous 're-mortgage'.But, the prices can't all go back to those as too many people, like ourselves, have mortgages and can't drop the prices. Therefore the banks need to start lending at lower rates to enable youngsters to be able to buy and start people living in these empty buildings. Wages aren't going to suddenly rise by 100% any time soon.... Won't the banks prefer to make less profit than risk the empty communities being over-run by gypsies and immigrants squatting? its like - she can see all the dots on the page, but she can't quite join them together Quote
the anti krust Posted April 19, 2009 Posted April 19, 2009 looks to me like developers and private sellers are still in denial in Spain. You are not wrong BL, some are definately in Denia(l) http://www.kyero.com/property/899208-apart...-for-sale-denia Quote
papag Posted April 19, 2009 Posted April 19, 2009 went to Fuerteventura earlier this year.A: the place was empty compared to other years we have been. B: blocks started when we went last, about 2 years ago, still uncomplete and abandoned. C: many apartments up for sale with free car incentives and all sorts, but still silly billy prices. looks to me like developers and private sellers are still in denial in Spain. Costa Blanca is the same however one small point to note is that many banks who are repossessing houses there are now sitting on them as assets as opposed to placing them on the depressed market Quote
Giordano Bruno Posted April 19, 2009 Posted April 19, 2009 'Bridget Rosser, sales and marketing manager of the Cheltenham-based Almanzora Group, a company that sells property in the Almeria region of south-east Spain.' Quote
chelston Posted April 19, 2009 Posted April 19, 2009 I wonder how many life's have been ruined by those weekend free sales flights they used to run. I knew a couple who went on one of these to the costa blanca and bought a villa in the boondocks 45 mins from the coast, they realised their mistake and put the property for sale, no interest even 3 years ago. Now they can't even leave the place in case of a break in by the various gangs roaming the area. Nightmare. Quote
Laura Posted April 19, 2009 Posted April 19, 2009 I liked this response to Frank's numpty poster:- You cannot make statements like that, prices will fall to whatever the market can afford - in this case the wages of a first time buyer. The world isn't going to re-arrange itself around what your mortgage is, in the same way I cannot buy a castle at the price I determine. What makes parts of Spain so bad is the almost total dependency of all commerce on said numpties continuing to buy crazily overpriced short-life concrete & steel framed boxes. & FTBs don't do it where there isn't any work!!! GAME OVER Quote
grey shark Posted April 19, 2009 Posted April 19, 2009 I had a bit of a poke around that site.There are a good few people there who see it as it is. This thread on the forum could have come from here, complete with bulls-in-denial: some great threads there , lots of schadenfreude to be had on that forum ........ http://www.spanishpropertyinsight.com/foru...4e66372922e0773 Quote
Guest vicmac64 Posted April 19, 2009 Posted April 19, 2009 mmm - NO WAY - this depression has only started! Buying now is buying way too early. Quote
singlemalt Posted April 19, 2009 Posted April 19, 2009 Buying a house in Spain (especially on one of the new developments) is tantamount to willing switching places with this guy. Oh goodie where do I sign up! Quote
Bloo Loo Posted April 19, 2009 Posted April 19, 2009 the pain in spain stays mainly in the end game Quote
wild card Posted April 19, 2009 Posted April 19, 2009 My sister in law has lived and worked in Spain for just over 12 years now. She was the manager of one of the largest estate agents untill 2007 when the company closed. She now deals with private clients looking for bargains. The bargains consist of the repo lists given to her by the banks she had previously delt with. Tha banks are not keeping repossessed properties as assets, they want rid of them. They just dont want the selling prices to become public knowledge. Last month I considered buying one of the apartments on the list as it was 25000 euros. Previously it had been sold at over 120000 euros. Even tho the purchase would have been strictly for personal use I have decided to wait just a wee bit longer. If the £ was stronger I might be more tempted to jump in. Quote
Concrete Jungle Posted April 19, 2009 Posted April 19, 2009 the pain in spain stays mainly in the end game The pain in Spain rains mainly on the lame. Quote
the anti krust Posted April 19, 2009 Posted April 19, 2009 My sister in law has lived and worked in Spain for just over 12 years now. She was the manager of one of the largest estate agents untill 2007 when the company closed.She now deals with private clients looking for bargains. The bargains consist of the repo lists given to her by the banks she had previously delt with. Tha banks are not keeping repossessed properties as assets, they want rid of them. They just dont want the selling prices to become public knowledge. Last month I considered buying one of the apartments on the list as it was 25000 euros. Previously it had been sold at over 120000 euros. Even tho the purchase would have been strictly for personal use I have decided to wait just a wee bit longer. If the £ was stronger I might be more tempted to jump in. 'Kin 'ell. She sells repos on the sea shore. Quote
Guest skullingtonjoe Posted April 19, 2009 Posted April 19, 2009 Now is the time to buy property in Spain, before prices rise significantly...Spanish property Mmmm, I think I'll pass on this one. Bridget Rosser - hmm, not married to Inside Track`s Brad Rosser? Quote
wild card Posted April 19, 2009 Posted April 19, 2009 'Kin 'ell.She sells repos on the sea shore. Quote
Laura Posted April 19, 2009 Posted April 19, 2009 'Kin 'ell.She sells repos on the sea shore. & transposed to where the tongue twister is said to have originated 'West Dorset coast bargains. Lyme Regis were £240,000, now £50,000' (that folks BTW would be a return to 1998/9 values........& why not) Quote
Laura Posted April 19, 2009 Posted April 19, 2009 'Kin 'ell.She sells repos on the sea shore. & transposed to where the tongue twister is said to have originated 'West Dorset coast bargains. Lyme Regis were £240,000, now £50,000' (that folks BTW would be a return to 1998/9 values........& why not) Quote
Laura Posted April 19, 2009 Posted April 19, 2009 'Kin 'ell.She sells repos on the sea shore. & transposed to where the tongue twister is said to have originated 'West Dorset coast bargains. Lyme Regis were £240,000, now £50,000' (that folks BTW would be a return to 1998/9 values........& why not) Quote
Laura Posted April 19, 2009 Posted April 19, 2009 'Kin 'ell.She sells repos on the sea shore. & transposed to where the tongue twister is said to have originated 'West Dorset coast bargains. Lyme Regis were £240,000, now £50,000' (that folks BTW would be a return to 1998/9 values........& why not) Quote
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