The headlines of a Spanish House Price Crash have yet again proved to be in correct

In the UK we have had it all the time for some while but in reality it has not happened
The economy is too strong.....same for Spain

Yes there will always be pockets of locations where the market is difficult...even in the boom times!

For there to be a crash there has to be lots of forced sales

On the Costa's in general most EU buyers have been cash buyers or have large equity in their homes and very few are being forced to sell.....local Spanish markets a little different

The market is a lot simialr to UK....slowing down but with some hot spots

Property is a medium to long term investment.....dealers try to make it short but they take the rough with the smooth....that is the nature of dealers!

Same as UK it will never get cheaper in the future to buy and provided you are sensible and pay the market price buying now will become a good deal

I favour Almeria between Aguilas and Mojacar...........just one reason is that new motorways always create increased property values as access has a big economic impact and the new one between Cartagena /Vera is open
Not just a view as I have put my money where my mouth is and I am investing in this area....also will winter here in due course
Brian Rowlands BSc FRICS

Ramp ramp ramp.

Brian

Please have some self respect. We know it's difficult.......it's over for Spain. Prices will fall across the board -25% in some areas, -40% in others and unsellable thefore worthless for the rest. The bottom 2011/12?

BSc FRICS my Ar$$.

http://www.singingpig.co.uk/search/SearchR...=DateDescending





btp

Brian, are you as ignorant and very unbright as you sound like? Or you chose the dumbing down job of being a Real Estate agent and just need to play the game in order to make a living?

[I favour Almeria between Aguilas and Mojacar...........just one reason is that new motorways always create increased property values as access has a big economic impact and the new one between Cartagena /Vera is open
Not just a view as I have put my money where my mouth is and I am investing in this area....also will winter here in due course
Brian Rowlands BSc FRICS
[/quote]

Please reconsider Brian and save yourself a lot of cash and a lot of heartache in the medium to long term. Bide your time and pick up a property for half todays price in five years time.

Clearly you guys who have replied have no understanding of property economics

If you do any research it is not from right source [see RICS EU Property Report for 2006 published 2007 [www.rics.org] and there are others

Anyone reading these post should do their research and then go and look at the locations before making an investment.....good deals do exist

Good located property has and will always be a good medium term investment

Bit silly really to say that values in one of the strongest economies in EU [ and even pretty good compared with rest of world ] is going to have property value dropping at circa 40%!!!

If you lived here and in amongst the locals as I do (there is no better research) you`d know you were talking bo**ocks.

Brian last time you posted a thread then dissapeared - hopefuly this time you will fight your corner.

Oddly enough a chap came into my office today. He had heard Id invested in Germany and wanted some info.

He explained he had bought in Spain 4 years ago. Totaly unprompted by me he said "the rent is rubbish, at best I get 3 months".

Factor in the loss of interest on his savings and/or the cost of financing plus ongoing costs and you are not left with a worwhile investment.

Buy in Spain but not for investment reasons. The canny investor wants to 'buy low sell high' so would do better in Germany (and get 12 months rent into the bargain).

I honestly do meet people who say they have not had any capital growth for 3 or 4 years in Spain.

To make some wrong statements is humanly acceptable, to repeat them is plain stupid.

Brian, please stick to the dull maths that you were trained for, and don't pretend that you have any understanding of the spanish property market.

The british economy and housing market bears no resemblence to that of a backward country like Spain -stop making stupid comparisons.

The price of housing on the CDL is off 30% from it's 2003 high in REAL TERMS. (Have you noticed how the big expenses like petrol, electricity, gas and mortgage repayments have gone up dramatically in the last few years? well the asking prices of houses hasn't even kept up with inflation, they have actually fallen)
"it will never get cheaper in the future to buy" -well it just did you moron...

Anyone who uses the word "investment" in the same sentence as spanish property is desperate for some half witted clients

How do you sleep at night after you've suckered in another client???

One of the strongest economies? I don't think so.

I´m a newbie on this site and ex-pat speaking Spanish and living in a Spanish area, although due to circumstances too long winded to explain, I also have a flat in a tourist area.

There are two points I would like to make from my own experience.

1. My main house in the Spanish area is on a protected development, and although 1 of only 2 houses which can be traded on the open market, the rest have price restrictions on them. This means for many Spaniards at least, the actual price of property is irrelevant because they cannot sell their property on the open market. There are loads of Spanish areas like this which are protected so any crash is likely to be concentrated in the tourist areas. Also, my neighbour who has the other unprotected house and paid a third of the price I did 10 years ago quickly explained to me that the price is irrelevant to him has he couldn't afford buy anything else bigger even if he wanted to move.

2. I have had the flat up for sale with a couple of agents for almost a year with only 1 viewing. Having more free time in the summer, I decided to do a bit of direct research with a sandwich board on the beach to see if it was just the agents performing badly or not. From this experience and managing to achieve a couple of viewings it seems you are only going to be able to sell if you give the property away, so the crash is already well under way IMO.

Fortunately for me, I'm able to wait as I own both properties outright, and the tourist rentals for the flat cover the cheaper costs. I do feel sorry for anyone who has a mortgage because there is not enough all year rent to cover these costs aswell.

Thank you for telling it as it is. Too many sharks are still tying to get the skins of ignorant buyers in Spain.

Yes unfortunately, all agents here are cr**ked, it is just a question of degree. They make F***ons look like choir boys!

Surely a number of people must be listening to the radio and tv adverts 'advising' people on buying overseas property. Inthis area they must be desperate to offload, otherwise id be inclined not to tell people I don't know that there are big gains to be made in this area.

A mugs game indeed.

The headlines of a Spanish House Price Crash have yet again proved to be in correct

See link below:

http://www.spanishpropertyinsight.com/foru...opic.php?t=2397

I would consider a 35% reduction a crash (Aldea Village)

In the UK we have had it all the time for some while but in reality it has not happened
The economy is too strong.....same for Spain

The average salary on the CDS is between €12-15K, if the Brits stop buying these apartments, the local FTBs won't be taking their place

Yes there will always be pockets of locations where the market is difficult...even in the boom times!

The scale of overbuilding on the Eastern CDS defies belief, giant swathes of urbanizatons lie empty, and buyers have been scared off by worries of illegal builds/corruption/high purchase costs/capital depreciation/lack of ammenities on new builds

For there to be a crash there has to be lots of forced sales

Whilst the Spanish refuse to believe property can go down in value, holiday homes are lying empty for most of the year and those that have been rented out achieve a pitiful yield. However, now we see the builders slashing the prices. Game On!

On the Costa's in general most EU buyers have been cash buyers or have large equity in their homes and very few are being forced to sell.....local Spanish markets a little different

That is not my perception of the market, lots of people have taken out mortgages with the intent of flipping and have now been caught with their pants down

The market is a lot simialr to UK....slowing down but with some hot spots

The only thing keeping the UK going is London & NI

Property is a medium to long term investment.....dealers try to make it short but they take the rough with the smooth....that is the nature of dealers!

The fundamentals for property in Spain are completely bonkers. Spain cannot inflate their way out of debt. Factor in a property crash in Britain, increased transport costs to due Peak Oil and property in the CDS will crash and burn

Same as UK it will never get cheaper in the future to buy and provided you are sensible and pay the market price buying now will become a good deal

Utter drivel, please see 80's supercars & the peak of dot.com shares for further reading. Not to mention the real drop in property prices in the UK & Japan in the 90's

I favour Almeria between Aguilas and Mojacar...........just one reason is that new motorways always create increased property values as access has a big economic impact and the new one between Cartagena /Vera is open
Not just a view as I have put my money where my mouth is and I am investing in this area....also will winter here in due course
Brian Rowlands BSc FRICS
[/quote]

I have no knowledge of this area, but property in the CDS is on it's ar$e

Now we can see the builders are dumping property, the market price has been set. Factor in a global credit crunch, increasing ECB rates, Peak Oil & overbuilding on an unprecedented scale, from the 2004 peak, prices WILL fall 50%

Jasey, I live in the Almeria area and IMO, it is just about as bad as anywhere else. A bit more negative news is that my rental agent in this area informed me today that he is closing down and would I like to collect the keys before Friday.

Brian

I know prices are falling in Spain as I have just been over their and witnessed the falls. Even in the Spainish Algarve which is relatively undeveloped, prices resale are falling. For some strange reason people are still buying new and off plan at ridiculasly high prices. Agents tell me they are now selling 5 propertys a month if they are lucky compared to 5 per week two years ago. Resales I viewed are being reduced by 30000 to 40000 euro's in one hit. I offerred 230,000 euros for a nice two bed apartment on a golf course and I know this was still more than the owner pad two years ago, yet he has had the property on the market for 295000 euros, the same price as developers are selling new. All this in an area which is far less developed that the Costa Blanca.

My offer was not accepted and it was propably a good thing, since I reckon it is best to sit on the fench for a while

JonRob

I also have been keeping an eye on whats going on over in Spain, not sure what will happen there at the moment seems to be lots of conflicting reports.

Just back from a week's golf holiday in Almeria - Almerimar, to be precise. First visit there for 7 years,; back then there were dozens of unsold flats and unlet commercial premises around the marina. Since then there has been an enormous amount of building, and WHAT A DIFFERENCE !.

There are now hundreds of unsold apartments and unlet commercial units !.

I live just up the coast from Almerimar closer to Almeria city and I know people who live there all year round who say it´s dead for 6 months of the year - a bit like English coastal towns really.

Estate agent guarantees rental income........for themselves!


From Manilva Life property froum

My apartment rented without my knowledge!

I am new to this site, but thought that I should warn others of what has just happened to me.

I have a few properties in the area of La Noria, and put them all for rent with a well know agent in the port, they promised me that they were honest and trustworthy.

Another agent has just informed me that when they tried to view the property this morning, it was rented!

The port agent, spoke to me to say sorry that they forgot to inform me that they had let my property on a long term basis!!!!

I have several issues with this, they did not put the offer to me, they did not discuss the reduced rent they are accepting, and most of all, someone is in my apartment with me signing a rental agreement!!!

Is this common practise! I have no idea how long they have been there, but it could be as long as two months!

I will not name and shame in public as I am sure this is not the way, however I will happily answer pm´s!

Angry of Bracknell!

Yes it is common practice! As I mentioned on another thread the other day, all the agents do this kind of thing. The usual scam is the holiday lets as they gamble they will get away with it 99 times out of 100. I live here full time with a separate holiday apartment in the tourist area and people from the flats have told me what goes on. Fortunately for me, they know I live here, so they would be very unwise to try it on with me.

You could always padlock the fuse box which allows people to see your flat without being able to use it to live in.

i spent 2 years travelling to spain and driving up and down the east coast looking for the perfect spot...had a great time y mucho cervesa's.....but it just did not feel right...too much on offer..one agent had about 400 places on the books....scary.

i ended up buying a place in Andorra, as a long term investment for when i get older....almost no taxes on income etc. and decent rentals...also if they build the new airport in the north of spain (le'segul, i think) then things should rocket.

Like Spain, Andorra has not been doing well, prices have not dropped nearly as much as spain, but as its a smaller market it seems to have just taken a break for a while (strange place).

I would still love to have a place on the south coast of spain, but between all the news about landgraps, dodgy planning officials and people taking years to sell a place, its not very tempting....i think i will stick to the 5 star hotels.

ih

Hi Irishhombre,

I'd be interested to hear more about Andorra and buying property there.

I've been considering it as a place to look for a small place but don't know the ropes there at all.

Longjohn

hi longjohn,

i started a new thread for Andorra.

Regards
IH