Have you taken into consideration Italy? there are some places over there that are seriously beatiful with a high quality standard of living and the property market is still reasonable. Could be a good option.
Take care
G
Full Version: Investment In Spain
where are you thinking to buy in Spain? The only problem abput Spain at the moment is that if you want to get out of UK to have a rest there is almost impossible cause you will find brits all over the country.... might be good might be bad depending on you really...
Have you taken into consideration Italy? there are some places over there that are seriously beatiful with a high quality standard of living and the property market is still reasonable. Could be a good option.
Take care
G
Have you taken into consideration Italy? there are some places over there that are seriously beatiful with a high quality standard of living and the property market is still reasonable. Could be a good option.
Take care
G
QUOTE (giulia @ Apr 1 2008, 03:30 PM) 
where are you thinking to buy in Spain? The only problem abput Spain at the moment is that if you want to get out of UK to have a rest there is almost impossible cause you will find brits all over the country.... might be good might be bad depending on you really...
Have you taken into consideration Italy? there are some places over there that are seriously beatiful with a high quality standard of living and the property market is still reasonable. Could be a good option.
Take care
G
Have you taken into consideration Italy? there are some places over there that are seriously beatiful with a high quality standard of living and the property market is still reasonable. Could be a good option.
Take care
G
After living in Spain for two years, Bologna,Italy for 9 months and France for 14 months I have to say that Spain was by far the best experience. Even funnier was watching those people arrive and head off to remote areas to be with the "locals" only to find them down the Taverna a few weeks later going on about how much nicer it is to have a decent conversation. Three months later they are selling up and looking for a place down by the coast, nearer to a few Brits.
I fully agree about places such as Benidorm, Puerto Banus, Marbella, Torrevieja but away from these traditional Brit "lager and chip" resorts exist hundreds of towns that have around 100+ ex-pats cohabiting with the locals.
I loved my time in Spain and will return as soon as I need to slow my pace of life down a litle bit. My advice is to fully enjoy your time as much as possible live close by a few Brits just to have a free flowing conversation now and again and to share common experiences.
QUOTE (bugga @ Apr 1 2008, 03:45 PM)
The place to invest at the moment in Spain is definitely Vera Playa which is an area close to Mojacar and Garrucha in Almeria. Let me tell you the reasons why this is the case:
I would like to disagree with your advising people to invest anywhere in Spain at the moment. This is mainly beacuse you can rent fantastic properties without any of the hassle associated with owning and I say this as an owner of two properties in the region. The big difference here, is once you have signed a rental contract, you are entitled to stay in that property for 5 years as long as you pay the rent on time. It doesn´t matter whether your contract is for 6 months or 2 years. If you want to stay, you can´t be thown out. So I reckon your mates Bob and Sheila from Worcester should put all their money in the bank and live stress free on the interest. If they get bored with one area, they can easily move to another location.
Additionally, the area you talking about would be a nightmare for me personally, because Mojacar especially, is a
British ghetto. I appreciate there are some people that might have come here to drink cheap booze all day and watch Britsih TV in the warm, but there are plenty of others like myself that want to integrate and have integrated
fully with the Spanish community. Again, a good way of deciding which lifestyle is for you is renting first.
QUOTE (markinspain @ Apr 2 2008, 11:35 AM)
I would like to disagree with your advising people to invest anywhere in Spain at the moment. This is mainly beacuse you can rent fantastic properties without any of the hassle associated with owning and I say this as an owner of two properties in the region. The big difference here, is once you have signed a rental contract, you are entitled to stay in that property for 5 years as long as you pay the rent on time. It doesn´t matter whether your contract is for 6 months or 2 years. If you want to stay, you can´t be thown out. So I reckon your mates Bob and Sheila from Worcester should put all their money in the bank and live stress free on the interest. If they get bored with one area, they can easily move to another location.
Yes renting is a good idea and I say that as somebody who has made an average return of 14% (excluding Capital growth) by renting my property since buying it 7 years ago. I'd like it if everybody rented.
I suppose it depends on how personal you want to make the property. I rent now in the UK but would prefer to own if only the prices were more sensible. In Spain you can still pick up a decent bargain so Im not sure if it is entirely the right move to rent. I added broadband and turned the back garden into a lovely Italian Outdoor Kitchen area with a fantastic barbeque area etc. I enjoy personalising it and have even turned my basement into an office so should I ever get the property back I could go out there for weeks at a time and work from the villa.
I wouldn't suggest that by renting you were going to lose out on any capital growth but I think from a psychological point of view being so far away from home I would like to feel settled in some small way.
QUOTE
Additionally, the area you talking about would be a nightmare for me personally, because Mojacar especially, is a
British ghetto. I appreciate there are some people that might have come here to drink cheap booze all day and watch Britsih TV in the warm, but there are plenty of others like myself that want to integrate and have integrated
fully with the Spanish community. Again, a good way of deciding which lifestyle is for you is renting first.
British ghetto. I appreciate there are some people that might have come here to drink cheap booze all day and watch Britsih TV in the warm, but there are plenty of others like myself that want to integrate and have integrated
fully with the Spanish community. Again, a good way of deciding which lifestyle is for you is renting first.
Sorry but what a stupid comment, it really winds me up that this attitude still exists. For a start let me clear some things up:
a) Vera Playa is around 8 miles from Mojacar and between it is Garrucha. I take it from your comment that you have never been to the area? If you had you would know that Garrucha is almost 99% Spanish and is a much larger town than Mojacar. Garrucha is a working Fishing Town. Vera is again 99% Spanish as are the towns of Palomares, Cuevas, Villaricos. The area is renkowned for being the holiday resort favoured by people from Madrid and in August the whole area is flooded. As somebody who lived there for 2 years I can assure you that it is indeed very Spanish. What was nice was that you could hop on a bus or drive for 10-15 minutes and go somewhere where you could mix with a few Brits. As an example the urbanisation I live in is around 70% Spanish and across from me the apartments are abouit 80% Spanish owned.
Mojacar does have a high amount of Brits but it is a bit condescending to assume that they are all watching British TV and Drinking themselves into a stupor. My experience is that many of them spent their time going to the local markets and embraced the local culture with open arms. c) If you have integrated fully with the Spanish Community then why do you feel it necessary to come on to an English website and indulge in conversations on the forum. Why not go on Spanish websites instead seeing as you are now part of that community. Is it because you still have an interest and like to indulge in a bit of banter without referring every 5 minutes to your Spanish Dictionary? Sometimes its nice to mix with Brits and sometimes it s nice to do Spanish things with the Spanish People. I think you will find that when you step outside of your bubble of false superiority for a few seconds you may find the majority of people living in these areas are doing just that.
QUOTE (bugga @ Apr 2 2008, 02:31 PM)
Yes renting is a good idea and I say that as somebody who has made an average return of 14% (excluding Capital growth) by renting my property since buying it 7 years ago. I'd like it if everybody rented.
I suppose it depends on how personal you want to make the property. I rent now in the UK but would prefer to own if only the prices were more sensible. In Spain you can still pick up a decent bargain so Im not sure if it is entirely the right move to rent. I added broadband and turned the back garden into a lovely Italian Outdoor Kitchen area with a fantastic barbeque area etc. I enjoy personalising it and have even turned my basement into an office so should I ever get the property back I could go out there for weeks at a time and work from the villa.
I wouldn't suggest that by renting you were going to lose out on any capital growth but I think from a psychological point of view being so far away from home I would like to feel settled in some small way.
I suppose it depends on how personal you want to make the property. I rent now in the UK but would prefer to own if only the prices were more sensible. In Spain you can still pick up a decent bargain so Im not sure if it is entirely the right move to rent. I added broadband and turned the back garden into a lovely Italian Outdoor Kitchen area with a fantastic barbeque area etc. I enjoy personalising it and have even turned my basement into an office so should I ever get the property back I could go out there for weeks at a time and work from the villa.
I wouldn't suggest that by renting you were going to lose out on any capital growth but I think from a psychological point of view being so far away from home I would like to feel settled in some small way.
We are not talking about 7 years ago we are talking about now! You obviously didn´t read the contents of my post. I think being in the same place for 5 years is pretty settled to me. You also seem to be extremely interested in showing people how clever you are. I for one, am not interested in what you have done to your villa.
QUOTE
Sorry but what a stupid comment, it really winds me up that this attitude still exists. For a start let me clear some things up:
a) Vera Playa is around 8 miles from Mojacar and between it is Garrucha. I take it from your comment that you have never been to the area? If you had you would know that Garrucha is almost 99% Spanish and is a much larger town than Mojacar. Garrucha is a working Fishing Town. Vera is again 99% Spanish as are the towns of Palomares, Cuevas, Villaricos. The area is renkowned for being the holiday resort favoured by people from Madrid and in August the whole area is flooded. As somebody who lived there for 2 years I can assure you that it is indeed very Spanish. What was nice was that you could hop on a bus or drive for 10-15 minutes and go somewhere where you could mix with a few Brits. As an example the urbanisation I live in is around 70% Spanish and across from me the apartments are abouit 80% Spanish owned.
Mojacar does have a high amount of Brits but it is a bit condescending to assume that they are all watching British TV and Drinking themselves into a stupor. My experience is that many of them spent their time going to the local markets and embraced the local culture with open arms.
c) If you have integrated fully with the Spanish Community then why do you feel it necessary to come on to an English website and indulge in conversations on the forum. Why not go on Spanish websites instead seeing as you are now part of that community. Is it because you still have an interest and like to indulge in a bit of banter without referring every 5 minutes to your Spanish Dictionary? Sometimes its nice to mix with Brits and sometimes it s nice to do Spanish things with the Spanish People. I think you will find that when you step outside of your bubble of false superiority for a few seconds you may find the majority of people living in these areas are doing just that.
a) Vera Playa is around 8 miles from Mojacar and between it is Garrucha. I take it from your comment that you have never been to the area? If you had you would know that Garrucha is almost 99% Spanish and is a much larger town than Mojacar. Garrucha is a working Fishing Town. Vera is again 99% Spanish as are the towns of Palomares, Cuevas, Villaricos. The area is renkowned for being the holiday resort favoured by people from Madrid and in August the whole area is flooded. As somebody who lived there for 2 years I can assure you that it is indeed very Spanish. What was nice was that you could hop on a bus or drive for 10-15 minutes and go somewhere where you could mix with a few Brits. As an example the urbanisation I live in is around 70% Spanish and across from me the apartments are abouit 80% Spanish owned.
Mojacar does have a high amount of Brits but it is a bit condescending to assume that they are all watching British TV and Drinking themselves into a stupor. My experience is that many of them spent their time going to the local markets and embraced the local culture with open arms. c) If you have integrated fully with the Spanish Community then why do you feel it necessary to come on to an English website and indulge in conversations on the forum. Why not go on Spanish websites instead seeing as you are now part of that community. Is it because you still have an interest and like to indulge in a bit of banter without referring every 5 minutes to your Spanish Dictionary? Sometimes its nice to mix with Brits and sometimes it s nice to do Spanish things with the Spanish People. I think you will find that when you step outside of your bubble of false superiority for a few seconds you may find the majority of people living in these areas are doing just that.
In response to your silly post!
a, At what point did I say Garrucha was a British Ghetto? Again read the post! Just for interest what do you think about Albox - great investment eh?
b, Wow going to the local markets - really embracing the local culture
I learned and passed my GCSE in Spanish before I came, I spend my Christmases with Spanish friends, I play 5-a-side football twice a week with other friends and this year it's my turn to be on the residents commitee on our housing community. I also have English friends who live in another urbanization, but that is mixed with lots of nationalities not just British.c, If you want to make a personal attack and not that I have to justify anything to somebody like you, I'll explain why I come here. I originally came to this forum as part of my research into world property and emigrating. Last summer the economic situation became very interesting and I decided to join up as I was learning so much about economics. Also, as you would know if you have actually lived here in the summer, it's too hot to do much else in the afternoons! N.B. I also read Burbuja occasionally.
At what point did I say I was superior to anyone else? Maybe it's you who should accept that there are many Brits who do exactly what I said and take that chip off your shoulder. You should make it clear that people have a choice and there are loads of other areas all over Spain to choose from. Reading between the lines, it seems you have some sort of vested interest in people buying in your area. Perhaps you should find another site to do your fishing along with all the others that have appeared recently in the overseas forum.
QUOTE (markinspain @ Apr 2 2008, 02:24 PM)
We are not talking about 7 years ago we are talking about now! You obviously didn´t read the contents of my post. I think being in the same place for 5 years is pretty settled to me. You also seem to be extremely interested in showing people how clever you are. I for one, am not interested in what you have done to your villa.
In response to your silly post!
a, At what point did I say Garrucha was a British Ghetto? Again read the post! Just for interest what do you think about Albox - great investment eh?
b, Wow going to the local markets - really embracing the local culture I learned and passed my GCSE in Spanish before I came, I spend my Christmases with Spanish friends, I play 5-a-side football twice a week with other friends and this year it's my turn to be on the residents commitee on our housing community. I also have English friends who live in another urbanization, but that is mixed with lots of nationalities not just British.
c, If you want to make a personal attack and not that I have to justify anything to somebody like you, I'll explain why I come here. I originally came to this forum as part of my research into world property and emigrating. Last summer the economic situation became very interesting and I decided to join up as I was learning so much about economics. Also, as you would know if you have actually lived here in the summer, it's too hot to do much else in the afternoons! N.B. I also read Burbuja occasionally.
At what point did I say I was superior to anyone else? Maybe it's you who should accept that there are many Brits who do exactly what I said and take that chip off your shoulder. You should make it clear that people have a choice and there are loads of other areas all over Spain to choose from. Reading between the lines, it seems you have some sort of vested interest in people buying in your area. Perhaps you should find another site to do your fishing along with all the others that have appeared recently in the overseas forum.
In response to your silly post!
a, At what point did I say Garrucha was a British Ghetto? Again read the post! Just for interest what do you think about Albox - great investment eh?
b, Wow going to the local markets - really embracing the local culture
I learned and passed my GCSE in Spanish before I came, I spend my Christmases with Spanish friends, I play 5-a-side football twice a week with other friends and this year it's my turn to be on the residents commitee on our housing community. I also have English friends who live in another urbanization, but that is mixed with lots of nationalities not just British.c, If you want to make a personal attack and not that I have to justify anything to somebody like you, I'll explain why I come here. I originally came to this forum as part of my research into world property and emigrating. Last summer the economic situation became very interesting and I decided to join up as I was learning so much about economics. Also, as you would know if you have actually lived here in the summer, it's too hot to do much else in the afternoons! N.B. I also read Burbuja occasionally.
At what point did I say I was superior to anyone else? Maybe it's you who should accept that there are many Brits who do exactly what I said and take that chip off your shoulder. You should make it clear that people have a choice and there are loads of other areas all over Spain to choose from. Reading between the lines, it seems you have some sort of vested interest in people buying in your area. Perhaps you should find another site to do your fishing along with all the others that have appeared recently in the overseas forum.
Have not looked at the forum for a while and it is nice to see that someone else likes Almeria between Aguilas and Mojacar and everything is not all 'anti Spain'
Also some nice ares to the west where you can pick up a 2 bed apartment from 99.900 € and 2 bed bungalows from 137.500 €
Agree with comments about the potential for the future
But also inland can be Ok, we are going to winter near Huercal Overa and no risks..2 beds villa in 400m 2 plots from 170.000 € ...surprise surprise..whilst the price has not gone up in the last 12 months the builder does not need to reduce as he builds to order and has a lot to finish in the next year or so and then can take his time
So everything is not doom and gloom but just like UK the re sale market is flat and if you are a ready buyer you can make up for the low exchange rate by making sensible offers and you can get a good buy
So Life style buyers can still find what they are wanting and will perhaps look back in a few years and finds they have made a good deal besides having a good life in the meantime...if that is what they want
Yes there are some poor located properties which are unsaleable at presnt, just like UK but at least Spain has a modern economy ....just wait and see what happens to all those off plan projects in the ' emerging markets' as this credit crunch works it way through.....lots of blood and tears from investors, I suspect.....then people will come flooding back to 'sunny Spain'!!!
QUOTE (markinspain @ Apr 2 2008, 02:24 PM)
We are not talking about 7 years ago we are talking about now! You obviously didn´t read the contents of my post. I think being in the same place for 5 years is pretty settled to me. You also seem to be extremely interested in showing people how clever you are. I for one, am not interested in what you have done to your villa.
In response to your silly post!
a, At what point did I say Garrucha was a British Ghetto? Again read the post! Just for interest what do you think about Albox - great investment eh?
b, Wow going to the local markets - really embracing the local culture I learned and passed my GCSE in Spanish before I came, I spend my Christmases with Spanish friends, I play 5-a-side football twice a week with other friends and this year it's my turn to be on the residents commitee on our housing community. I also have English friends who live in another urbanization, but that is mixed with lots of nationalities not just British.
c, If you want to make a personal attack and not that I have to justify anything to somebody like you, I'll explain why I come here. I originally came to this forum as part of my research into world property and emigrating. Last summer the economic situation became very interesting and I decided to join up as I was learning so much about economics. Also, as you would know if you have actually lived here in the summer, it's too hot to do much else in the afternoons! N.B. I also read Burbuja occasionally.
At what point did I say I was superior to anyone else? Maybe it's you who should accept that there are many Brits who do exactly what I said and take that chip off your shoulder. You should make it clear that people have a choice and there are loads of other areas all over Spain to choose from. Reading between the lines, it seems you have some sort of vested interest in people buying in your area. Perhaps you should find another site to do your fishing along with all the others that have appeared recently in the overseas forum.
In response to your silly post!
a, At what point did I say Garrucha was a British Ghetto? Again read the post! Just for interest what do you think about Albox - great investment eh?
b, Wow going to the local markets - really embracing the local culture
I learned and passed my GCSE in Spanish before I came, I spend my Christmases with Spanish friends, I play 5-a-side football twice a week with other friends and this year it's my turn to be on the residents commitee on our housing community. I also have English friends who live in another urbanization, but that is mixed with lots of nationalities not just British.c, If you want to make a personal attack and not that I have to justify anything to somebody like you, I'll explain why I come here. I originally came to this forum as part of my research into world property and emigrating. Last summer the economic situation became very interesting and I decided to join up as I was learning so much about economics. Also, as you would know if you have actually lived here in the summer, it's too hot to do much else in the afternoons! N.B. I also read Burbuja occasionally.
At what point did I say I was superior to anyone else? Maybe it's you who should accept that there are many Brits who do exactly what I said and take that chip off your shoulder. You should make it clear that people have a choice and there are loads of other areas all over Spain to choose from. Reading between the lines, it seems you have some sort of vested interest in people buying in your area. Perhaps you should find another site to do your fishing along with all the others that have appeared recently in the overseas forum.
Apologies for touching a raw nerve Mark.
I was pretty upset by the following sentance you used in your post
QUOTE
I appreciate there are some people that might have come here to drink cheap booze all day and watch Britsih TV in the warm
This is indicative of the type of sterotyping people moving/living in Spain have to deal with. It is an almost sneering statement to be honest and a bit embarrasing.
Let me go through your points one by one,Mark
QUOTE
a, At what point did I say Garrucha was a British Ghetto? Again read the post! Just for interest what do you think about Albox - great investment eh?
I do believe you said the following Mark
"Additionally, the area you talking about would be a nightmare for me personally, because Mojacar especially, is a British ghetto."
You state that the AREA would be a nightmare. What I was trying to explain to you was that apart from a very small community in Mojacar the AREA (inc Garrucha) was indeed very Spanish. As a result what you stated was in fact incorrect and not a true picture of reality.
Oh and Albox is a s**thole pure and simple. It is a god awful place that has nothing going for it other than cheap fincas. I wouldnt invest there and I think I made that clear in my post. Find a nice place by the coast in Spain and you cant lose.....simple.
QUOTE
b, Wow going to the local markets - really embracing the local culture I learned and passed my GCSE in Spanish before I came, I spend my Christmases with Spanish friends, I play 5-a-side football twice a week with other friends and this year it's my turn to be on the residents commitee on our housing community. I also have English friends who live in another urbanization, but that is mixed with lots of nationalities not just British.
Again another example of you believing you are superior. In fact many of the people that you claim are sat drinking beer in the sun are actually getting involved with local politics. Many of these attend Spanish lessons and help organise local fiestas or put on theatre productions in Spanish. Being on the residents commitee and playing five a side may be your idea of embracing local culture and good luck to you but dont try and slate other people off for their attempts to embrace local life in their own way.
QUOTE
c, If you want to make a personal attack and not that I have to justify anything to somebody like you, I'll explain why I come here. I originally came to this forum as part of my research into world property and emigrating. Last summer the economic situation became very interesting and I decided to join up as I was learning so much about economics. Also, as you would know if you have actually lived here in the summer, it's too hot to do much else in the afternoons! N.B. I also read Burbuja occasionally.
It sounds like you live inland Mark. If you lived by the coast you would be nicely cooled by the sea breezes in Summer
I expect you suffer from extreme cold spells in the Winter as well, something also avoided living by the coast. This is another reason why people live there. Glad to hear you are enjoying the site Mark.
QUOTE
You should make it clear that people have a choice and there are loads of other areas all over Spain to choose from.
Yes agreed Spain is a big place and there are lots of areas to choose from. I dont think I ever said anything to the contrary did I? I just think if you choose a nice area which is frequented by Spanish or British or both then you cant go wrong. Avoid the concrete jungles and yes there are some less desirable Brits in some places (Marbella, Benidorm, Torrevieja etc) but there are likewise some areas with less than desirable Spanish. Whatever you do do not avoid an area simply because British people live there. We are all guilty of being a bit snobbish sometimes but I found 95% of Brits in Spain absolutely delightful and really intent on embracing Spanish life.
QUOTE
Reading between the lines, it seems you have some sort of vested interest in people buying in your area. Perhaps you should find another site to do your fishing along with all the others that have appeared recently in the overseas forum.
Far from it. if you read my post properly you would see I am absolutely delighted that they have stopped building more apartments in my area. I would prefer it if not one more person moved to Spain but then that would be slightly selfish of me. I paid cash for my house and I own just one house in Spain. I dont own a house in the UK and I didnt buy it as an investment. What I do do is say it as I see it and that can sometimes upset those that are intent on talking Spain down (not including you in this Mark).
QUOTE (bugga @ Apr 3 2008, 06:01 PM)
I paid cash for my house and I own just one house in Spain. I dont own a house in the UK and I didnt buy it as an investment. What I do do is say it as I see it and that can sometimes upset those that are intent on talking Spain down (not including you in this Mark).
I do not think anybody wants to talk down Spain.
The only point is that to buy in Spain in 2008 is financial suicide. Prices have a long way to crash.
And this is besides the illegal building issues which should be solved by Spanish authotiries before all foreigners decide that Spain is a country of thieves.
QUOTE (bugga @ Apr 3 2008, 07:01 PM)
Apologies for touching a raw nerve Mark.
Hardly, it´s a weblog. Perhaps you don´t have much of a life.
QUOTE
This is indicative of the type of sterotyping people moving/living in Spain have to deal with. It is an almost sneering statement to be honest and a bit embarrasing.
Not embarrassing, mostly true for anyone over 55. See below.
QUOTE
Oh and Albox is a s**thole pure and simple. It is a god awful place that has nothing going for it other than cheap fincas. I wouldnt invest there and I think I made that clear in my post. Find a nice place by the coast in Spain and you cant lose.....simple.
Right so it´s OK for you to slag off somewhere, but if anyone criticizes the supposed paradise that is Vera Playa, woe be tide them!
QUOTE
Again another example of you believing you are superior. In fact many of the people that you claim are sat drinking beer in the sun are actually getting involved with local politics. Many of these attend Spanish lessons and help organise local fiestas or put on theatre productions in Spanish. Being on the residents commitee and playing five a side may be your idea of embracing local culture and good luck to you but dont try and slate other people off for their attempts to embrace local life in their own way.
It would be very foolish to try and appear superior on a weblog like this. There are some incredibly clever people here and you would soon be cut down to size or even banned if you get out of line. When you´ve had a few more than 17 posts, you will learn this. However, in your case, I'll make an exception as it appears it is you that has an inferiority complex and anyone who writes ´do do´ in the same sentence cannot really be taken seriously.
The point I was trying to make was one of respect. It´s my personal opinion that everyone should learn the language and a bit about the culture and traditions of any country that people intend to emigrate to. What percentage of expats can speak Spanish before they arrive? Not many I would think.
QUOTE
It sounds like you live inland Mark. If you lived by the coast you would be nicely cooled by the sea breezes in Summer I expect you suffer from extreme cold spells in the Winter as well, something also avoided living by the coast. This is another reason why people live there.
I expect you suffer from extreme cold spells in the Winter as well, something also avoided living by the coast. This is another reason why people live there.Wrong! My house lies 12 minutes from the beach and my flat lies 5 minutes from the beach. Again if you´d spent whole of August here, you understand what it´s like! As for winter, I spent Christmas afternoon on the terrace sunbathing.
QUOTE
We are all guilty of being a bit snobbish sometimes but I found 95% of Brits in Spain absolutely delightful and really intent on embracing Spanish life.
This is complete b0ll0x!. There is absolutely no evidence of this what so ever. Most people come to retire or are at least over 55. A large percentage of them have some kind of ailment or illness so can´t do much anyway. Popping to the local market or from bar to bar is about all that many can manage. There is one acquaintance of mine who I see when I occasionally go down to the expat area, a man in his early sixties, who is often plastered by about 3 in the afternoon. I asked him once why he does it and all he said was "You´ll understand when you get to my age"
Before criticizing me you want to have a look at yourself. You can´t even be bothered to say whether you speak Spanish, in what way you have integrated in to Spanish life, or indeed why you are here on this website?
For the benefit of others who are thinking, locating to Almería, I would like to demonstrate why I think the Roquetas de Mar area would be a better bet even just for a holiday.
1. It has a modern theatre that puts on anything from opera to traditional flamenco.
2. It has a multiplex cinema.
3. It has a tenpin bowling alley.
4. It has a waterpark.
5. It has a sealife centre.
6. It has a roller skating rink /dance studio for all those salsa lovers .
7. It has a go-karting track.
8. It has the Gran Plaza shopping complex, where you can buy anything you need for your life here.
9. It lies only 30 minutes from Almería city with all that has to offer.
10. It lies only 45 minutes from the airport.
11. It lies close to two national parks for those that like the fresh air and peace and quiet.
12 Oh and it even has a weekly Thursday market!
So Bugga (wtf?), I'm sure all this is available in Vera Playa/Gurrucha too. If not, I'm sure you'll be able to join Dave and Debbie from Dagenham for happy hour and they may even put Eastenders on for you if you ask them nicely!
QUOTE (markinspain @ Apr 4 2008, 11:14 AM)
So Bugga (wtf?), I'm sure all this is available in Vera Playa/Gurrucha too. If not, I'm sure you'll be able to join Dave and Debbie from Dagenham for happy hour and they may even put Eastenders on for you if you ask them nicely!
Hi Mark,
you forgot something.
Vera Playa has a big area dedicated to nudist. Maybe BUgga likes having hard-ons by admiring the German women... Can you find this entertainment in Western Almeria?
But Garrucha really is a horrible city, presumably the Spanish low-classes go there...
Roquetas....say no more. That is one of the areas I certainly would avoid. It explains many things, especially why we seem to disagree so much.
I do indeed speak fluent Spanish and still have many Spanish Friends that live in the area and elsewhere (mainly Murcia). I lived in Spain for 2 years but as I have a Spanish mother as well so I think I know a little about the culture and the way of life. I have been there over in August many times.
I think we will have to agree to disagree.
As for Catara....you have shown yourself up to be the idiot I think many on here know you are.
I do indeed speak fluent Spanish and still have many Spanish Friends that live in the area and elsewhere (mainly Murcia). I lived in Spain for 2 years but as I have a Spanish mother as well so I think I know a little about the culture and the way of life. I have been there over in August many times.
I think we will have to agree to disagree.
As for Catara....you have shown yourself up to be the idiot I think many on here know you are.
QUOTE (bugga @ Apr 4 2008, 12:23 PM)
As for Catara....you have shown yourself up to be the idiot I think many on here know you are.
I am not bigger idiot that a cretin who ramps eye-sore places like Vera and Garrucha. They really were the worst places I have seen in a long time.
Besides, one has to drive quite a lot to reach them
Get a life stupid agent!
QUOTE (bugga @ Apr 4 2008, 01:23 PM)
Roquetas....say no more. That is one of the areas I certainly would avoid. It explains many things, especially why we seem to disagree so much.
Again, disparaging without any evidence. Why do you say this? Roquetas has its problems like anywhere else in Spain, and having lived in the area for nearly 2 years, although further up the coast, no more than my home town in the UK.
QUOTE
I think we will have to agree to disagree.
That's fair enough, although it's disappointing to note, you cannot provide any evidence of Garrucha or Vera Playa having anything more interesting than the beach and the market. Catara seems to have a different view of the area than you do.
I appreciate you may have family and friends still in the area, are proud of it and want to attract people to the area for their businesses, but I really think that a weblog called Housepricecrash.co.uk is the wrong place to do it.
QUOTE (markinspain @ Apr 4 2008, 07:05 PM)
Catara seems to have a different view of the area than you do.
This guy BUgga is almost sure Adi Brown who changed his user name.
Bugga has the same arguments as Adi Brown as in "buy in 2008 as in 2010 you would have lost part of your investment"... I wonder who can fall for that kind of prank in 2008, when prices everywhere in the world are falling like a hammer...
Why people feel they need to change their usernames??
QUOTE (catara @ Apr 4 2008, 08:16 PM)
This guy BUgga is almost sure Adi Brown who changed his user name.
Bugga has the same arguments as Adi Brown as in "buy in 2008 as in 2010 you would have lost part of your investment"... I wonder who can fall for that kind of prank in 2008, when prices everywhere in the world are falling like a hammer...
Why people feel they need to change their usernames??
Bugga has the same arguments as Adi Brown as in "buy in 2008 as in 2010 you would have lost part of your investment"... I wonder who can fall for that kind of prank in 2008, when prices everywhere in the world are falling like a hammer...
Why people feel they need to change their usernames??
Hi Catara.
Nice to have someone without any VI telling the truth.
If what you say about a changed user name ís true, it would be a bit sad. The only possible reasons are either if you are a bit schizo and want to talk to yourself on a blog or you need to have a supposed second voice to back up your arguments because they are so weak. My username does exactly what it says on the tin, bit like me really, no VI required.
MIS
I didn't see this already posted........
http://www.typicallyspanish.com/news/publi...cle_16125.shtml
House prices fall in Spain in real terms for the first time in ten years
By h.b. - Apr 18, 2008 - 8:08 AM
Data from the Ministry of Housing released this morning indicates that house prices rose in Spain last year by 4 percent.
The price of housing in Spain, in real terms, has fallen for the first time in ten years. The fall is now official with data released this morning by the Ministry for Housing. The new numbers show that on average house prices rose in Spain in 2007 by 4%, and that number is half a point lower than the current inflation rate in the country of 4.5% which is at a 13 year high.
The news comes with the arrival of the new Minister for Housing, Beatriz Corredor, and oddly meets the previous government target to reduce speculation in house price rises, and to see increases in line with general inflation. However this has been achieved in the climate of a sharp down turn in the sector, and now a more generalised fall of house prices is feared, which could in turn establish the nightmare of negative equity for some mortgage owners.
Some pessimists even claim that the down turn has been sharper than official figures indicate, while optimists say that new constructions have not been affected. The INE National Statistics Institute says that house sales reduced in number last year by 36% for resale housing and by 15% for new properties.
The previous time that house prices fell in Spain in real terms was in the 90’s when the loss of value lasted for some seven years.
http://www.typicallyspanish.com/news/publi...cle_16125.shtml
House prices fall in Spain in real terms for the first time in ten years
By h.b. - Apr 18, 2008 - 8:08 AM
Data from the Ministry of Housing released this morning indicates that house prices rose in Spain last year by 4 percent.
The price of housing in Spain, in real terms, has fallen for the first time in ten years. The fall is now official with data released this morning by the Ministry for Housing. The new numbers show that on average house prices rose in Spain in 2007 by 4%, and that number is half a point lower than the current inflation rate in the country of 4.5% which is at a 13 year high.
The news comes with the arrival of the new Minister for Housing, Beatriz Corredor, and oddly meets the previous government target to reduce speculation in house price rises, and to see increases in line with general inflation. However this has been achieved in the climate of a sharp down turn in the sector, and now a more generalised fall of house prices is feared, which could in turn establish the nightmare of negative equity for some mortgage owners.
Some pessimists even claim that the down turn has been sharper than official figures indicate, while optimists say that new constructions have not been affected. The INE National Statistics Institute says that house sales reduced in number last year by 36% for resale housing and by 15% for new properties.
The previous time that house prices fell in Spain in real terms was in the 90’s when the loss of value lasted for some seven years.
Not unexpected and to many Spanish who have bought on low short term fixed rates and low deposits they are about to experience the same problems which is now happening in UK
But like UK the general opinion is that the down turn in the market will be soft
As regards the holiday purchase market or for those wanting to go and live in Spain, you will find that there are some good bargains about
But not all sellers have to sell and not all developers have to sell cheaply to repay bank loans and in general this applies to the best locations
But prices are now realistic...just today I received details of a ready now 3 bed 2 bath villa with pool a touch inland in Costa Blanca for 259.000 € which reflects the current market
Even with todays exchange rate issue is double sided.....those wishing to sell and bring their money back to UK can be evenmore sensible about the price they need in sterling
Many think that it is better to buy in this type of market than when it is racing ahead and everyone is after a quick buck
Time scale for the start of the recovery......my experience goes back to the 70's crash so I would budget circa 2 years .......2010 for EU property to start to move up again
Before then I am sure that there will be some big fallout fron the 'emerging markets' as the credit crunch starts to hit these very speculative developments
So the byword for next 2 years must be to buy safe if you are buying for life style reasons and that means EU established markets including Spain
One or two opportunities for investors also!
But like UK the general opinion is that the down turn in the market will be soft
As regards the holiday purchase market or for those wanting to go and live in Spain, you will find that there are some good bargains about
But not all sellers have to sell and not all developers have to sell cheaply to repay bank loans and in general this applies to the best locations
But prices are now realistic...just today I received details of a ready now 3 bed 2 bath villa with pool a touch inland in Costa Blanca for 259.000 € which reflects the current market
Even with todays exchange rate issue is double sided.....those wishing to sell and bring their money back to UK can be evenmore sensible about the price they need in sterling
Many think that it is better to buy in this type of market than when it is racing ahead and everyone is after a quick buck
Time scale for the start of the recovery......my experience goes back to the 70's crash so I would budget circa 2 years .......2010 for EU property to start to move up again
Before then I am sure that there will be some big fallout fron the 'emerging markets' as the credit crunch starts to hit these very speculative developments
So the byword for next 2 years must be to buy safe if you are buying for life style reasons and that means EU established markets including Spain
One or two opportunities for investors also!
QUOTE (BrianR @ Apr 21 2008, 03:37 PM)
But prices are now realistic...
2010 for EU property to start to move up again
2010 for EU property to start to move up again
I agree with your second statement, I totally disagree with the first one.
2010 might a good time to purchase a holiday home (not investment).
The prices will be much lower than today.
I had an interesting little chat with my lawyer today about the property situation in Spain this morning and I´d thought I´d share a couple of highlights with you.
The first thing is that, he is doing hardly any purchases at the moment, not to anyone irrespective of nationality. However, he is overloaded with work relating to non-completion and general disputes between developer and purchaser, again irrespective of nationality.
One interesting bit of information, which I seem to remember someone asked in relation to Spanish property purchase, was what happens if you walk away/hand back the keys. Well surprisingly enough, it seems you can get away with this course of action as the banks won't chase you in the UK. It seems all that happens is the bank applies to the court for a repossession order, takes over the ownership and sells it for what they can get without chasing you for any shortfall.
N.B. This is not a personal recommendation to follow this course of action, and of course, DYOR!
The first thing is that, he is doing hardly any purchases at the moment, not to anyone irrespective of nationality. However, he is overloaded with work relating to non-completion and general disputes between developer and purchaser, again irrespective of nationality.
One interesting bit of information, which I seem to remember someone asked in relation to Spanish property purchase, was what happens if you walk away/hand back the keys. Well surprisingly enough, it seems you can get away with this course of action as the banks won't chase you in the UK. It seems all that happens is the bank applies to the court for a repossession order, takes over the ownership and sells it for what they can get without chasing you for any shortfall.
N.B. This is not a personal recommendation to follow this course of action, and of course, DYOR!
I konw this usesd to be the situation but since Santander bought the Abbey they have become more enlightened and I am sure that I have read on some forums that there are companies in UK who are now acting for Spanish banks to make recoveries
One of the risk you may have in walking away is that nothing may happen for some time, you start to feel safe and then they come at you
Of course anyone must make their own decision after taking proper legal advice but often it is better as soon as trouble arises to go and see the bank and present a case for solving your situation, this may involve changing to interest only for a while. a payment holiday.etc..even the Spanish banks today are not wanting to take over a lot of properties unless that is the only alternative as ' repossessed properties ' really only sell to dealers who do not pay a lot
Mind you which way to go is not an easy decision!!!
One of the risk you may have in walking away is that nothing may happen for some time, you start to feel safe and then they come at you
Of course anyone must make their own decision after taking proper legal advice but often it is better as soon as trouble arises to go and see the bank and present a case for solving your situation, this may involve changing to interest only for a while. a payment holiday.etc..even the Spanish banks today are not wanting to take over a lot of properties unless that is the only alternative as ' repossessed properties ' really only sell to dealers who do not pay a lot
Mind you which way to go is not an easy decision!!!
QUOTE (BrianR @ Apr 28 2008, 09:37 AM)
One of the risk you may have in walking away is that nothing may happen for some time, you start to feel safe and then they come at you
How can it be?
I thought that once the agreement with the bank is done, nothing can be changed... By agreement I mean they agreeing to not chase you abroad.
If you have an agreement that the bank will not chase you in England or outside Spain then......sounds a good deal to me
But I would have thought unusual.....they did not chase because of the cost and the market was good.......but I think that they have always been able to chase up bad debts in UK
Now with debt collectors able to help them it is easier and property market conditions will encourage them to do so
They can also sell on the debt to a third party who will collect
Again, anyone in this risky position should take legal advice in Spain and UK and certainly not rely on Forum Posts
But I would have thought unusual.....they did not chase because of the cost and the market was good.......but I think that they have always been able to chase up bad debts in UK
Now with debt collectors able to help them it is easier and property market conditions will encourage them to do so
They can also sell on the debt to a third party who will collect
Again, anyone in this risky position should take legal advice in Spain and UK and certainly not rely on Forum Posts
Hi ,
Hope you are in big confusion in buying th e right property for the "right price". Many of the people may love the home and some may not find enough property investment help from their buddies and some thing like this, if you ever find these types of problems then we have a very good option to resolve it very quickly. Try these and hope you will have a great way.
Hope you are in big confusion in buying th e right property for the "right price". Many of the people may love the home and some may not find enough property investment help from their buddies and some thing like this, if you ever find these types of problems then we have a very good option to resolve it very quickly. Try these and hope you will have a great way.
QUOTE (prague property @ Apr 30 2008, 12:10 PM)
Hi ,
Hope you are in big confusion in buying th e right property for the "right price". Many of the people may love the home and some may not find enough property investment help from their buddies and some thing like this, if you ever find these types of problems then we have a very good option to resolve it very quickly. Try these and hope you will have a great way.
Hope you are in big confusion in buying th e right property for the "right price". Many of the people may love the home and some may not find enough property investment help from their buddies and some thing like this, if you ever find these types of problems then we have a very good option to resolve it very quickly. Try these and hope you will have a great way.
I don't think you picked the right site to try and flog your s**t and it certainly shouldn't be in the Spanish property thread! Do one sonny!
I would wait 3 years before even thinking about investing in Spain. The most overpriced market there is, have a long way to go.
After the last boom, you could buy houses and apartments for 5-10 K pounds, That's what's coming again. I am not buying there before I get a 90 % discount of what was the peak price of the boom.
After the last boom, you could buy houses and apartments for 5-10 K pounds, That's what's coming again. I am not buying there before I get a 90 % discount of what was the peak price of the boom.
QUOTE (carseller @ Apr 30 2008, 12:51 PM)
I would wait 3 years before even thinking about investing in Spain. The most overpriced market there is, have a long way to go.
After the last boom, you could buy houses and apartments for 5-10 K pounds, That's what's coming again. I am not buying there before I get a 90 % discount of what was the peak price of the boom.
After the last boom, you could buy houses and apartments for 5-10 K pounds, That's what's coming again. I am not buying there before I get a 90 % discount of what was the peak price of the boom.
the strong euro is working against you though - with a 15+% swing since last August, the drops may not be as juicy as you think at the present moment
Hi
I think there are certainly some places still worth looking at in Spain whether it be on one of the major developments or small village type properties - remember its still a buyers market in Spain and if you can pick something up at a good price then its worth taking the punt if you can afford to sit on it for a while.
I received an email called "Flash Offers" from a company selling Polaris World stuff with tens of thousands of euros off the selling price - got to be worth a punt especially on a golf course as well.
Another site worth looking at is Worldwide Property Auctions - they have properties for sale a bit like ebay where you can bid online for a property and the owner of the property replies direct to you either accepting or declining your bid - again got to be worth a look.
Anyone else with any other interesting snippets like this?
Freecall
I think there are certainly some places still worth looking at in Spain whether it be on one of the major developments or small village type properties - remember its still a buyers market in Spain and if you can pick something up at a good price then its worth taking the punt if you can afford to sit on it for a while.
I received an email called "Flash Offers" from a company selling Polaris World stuff with tens of thousands of euros off the selling price - got to be worth a punt especially on a golf course as well.
Another site worth looking at is Worldwide Property Auctions - they have properties for sale a bit like ebay where you can bid online for a property and the owner of the property replies direct to you either accepting or declining your bid - again got to be worth a look.
Anyone else with any other interesting snippets like this?
Freecall
QUOTE (freecall @ May 7 2008, 10:18 PM)
Hi
I think there are certainly some places still worth looking at in Spain whether it be on one of the major developments or small village type properties - remember its still a buyers market in Spain and if you can pick something up at a good price then its worth taking the punt if you can afford to sit on it for a while.
I received an email called "Flash Offers" from a company selling Polaris World stuff with tens of thousands of euros off the selling price - got to be worth a punt especially on a golf course as well.
Another site worth looking at is Worldwide Property Auctions - they have properties for sale a bit like ebay where you can bid online for a property and the owner of the property replies direct to you either accepting or declining your bid - again got to be worth a look.
Anyone else with any other interesting snippets like this?
Freecall
I think there are certainly some places still worth looking at in Spain whether it be on one of the major developments or small village type properties - remember its still a buyers market in Spain and if you can pick something up at a good price then its worth taking the punt if you can afford to sit on it for a while.
I received an email called "Flash Offers" from a company selling Polaris World stuff with tens of thousands of euros off the selling price - got to be worth a punt especially on a golf course as well.
Another site worth looking at is Worldwide Property Auctions - they have properties for sale a bit like ebay where you can bid online for a property and the owner of the property replies direct to you either accepting or declining your bid - again got to be worth a look.
Anyone else with any other interesting snippets like this?
Freecall
Yes I've an interesting snippet to add.
You are the owner of both those sites and are ramping them on behalf of propertywebmasters.com. You really must be desperate for business and awful at SEO to do so here.
Muppet.
Why are you a bull? Because I live in Spain and thought it would be rude not to be
Do you really live in Spain? Yes.
"Everyone sees what you seem to be, few know what you really are; and those few do not dare take a stand against the general opinion." Machiavelli
A little snippet from Burbuja tonight - see post 18 on the link.
http://www.burbuja.info/inmobiliaria/showt...7894&page=2
The translation for those who are interested:-
New construction permits January-March 07 ----217,218
New construction permits January-March 08 ----85,523
Total permits 2007 -------------651.427
Projected permits 2008 --------256,479
Looks like there'll be a few unemployed builders here this year.
http://www.burbuja.info/inmobiliaria/showt...7894&page=2
The translation for those who are interested:-
New construction permits January-March 07 ----217,218
New construction permits January-March 08 ----85,523
Total permits 2007 -------------651.427
Projected permits 2008 --------256,479
Looks like there'll be a few unemployed builders here this year.
QUOTE (claireinspain @ May 9 2008, 03:40 PM)
Yes I've an interesting snippet to add.
You are the owner of both those sites and are ramping them on behalf of propertywebmasters.com. You really must be desperate for business and awful at SEO to do so here.
Muppet.
Why are you a bull? Because I live in Spain and thought it would be rude not to be
Do you really live in Spain? Yes.
"Everyone sees what you seem to be, few know what you really are; and those few do not dare take a stand against the general opinion." Machiavelli
You are the owner of both those sites and are ramping them on behalf of propertywebmasters.com. You really must be desperate for business and awful at SEO to do so here.
Muppet.
Why are you a bull? Because I live in Spain and thought it would be rude not to be
Do you really live in Spain? Yes.
"Everyone sees what you seem to be, few know what you really are; and those few do not dare take a stand against the general opinion." Machiavelli
I would love to buy a 3 bedroom house from polarisworld near a golf course for £30,000 what do you think the chances are.
QUOTE (goldman @ May 11 2008, 11:58 PM)
I would love to buy a 3 bedroom house from polarisworld near a golf course for £30,000 what do you think the chances are.
£30,000? That's a bit rich isn't it? After all the negative posts I have read on the web about Polaris it doesn't seem they are worth that much...
QUOTE (forestfire @ May 20 2008, 09:50 PM)
£30,000? That's a bit rich isn't it? After all the negative posts I have read on the web about Polaris it doesn't seem they are worth that much...
Thanks, hehehehhe nice one.
QUOTE (goldman @ May 11 2008, 11:58 PM)
I would love to buy a 3 bedroom house from polarisworld near a golf course for £30,000 what do you think the chances are.
Spain is always going to be popular amongst British buyers but the days of low quality builds are fast disappearing. Most buyers would be very sceptical at this low price and quiet rightly so! There must be a catch somewhere.
http://www.hiday.net/news.html?newsid=222
Spain may still be "popular" but it used to be the first choice destination for us Brits. There is so much competition now and cheaper options. There are even countries where they don't knock down foreigners houses and where buying isn't so hazardous, unregulated and 3rd world standard in general.
Spain couldn't have shot itself in the foot any better if it had tried -everyone now knows about the Costa del Concrete, the awful building standards, the high levels of crime that make it no safer than the UK.
The list goes on but I won't bore you.
Can anyone see a light at the end of the tunnel?
Spain couldn't have shot itself in the foot any better if it had tried -everyone now knows about the Costa del Concrete, the awful building standards, the high levels of crime that make it no safer than the UK.
The list goes on but I won't bore you.
Can anyone see a light at the end of the tunnel?
At the moment the only i thing i can envisage for Spain long term is more s*ite at the end of the tunnel.
1, simple answer to all this ranting & worrying.
Come on over to our side,
The Algarve,
Come on over to our side,
The Algarve,
QUOTE (Drakan @ Sep 9 2005, 12:53 AM)
Hi.
Not 70.000 empty homes.
In Spain there are 3.000.000 (three million) empty homes.
Not 70.000 empty homes.
In Spain there are 3.000.000 (three million) empty homes.
How many 3 years on?
I´ve been popping to down to the tourist area over the last couple of days to help my new long term tenants settle in to my flat and I thought I´d share a few observations with you.
The first thing to say is that these tenants are the first I´ve had for long term for nearly two years due to the risks that are involved, especially if you let to non western europeans. (i.e. the five year rule, possible eviction problems/ length of court cases, damage, theft etc etc)
The second thing to say is that these tenants were found through mutual friends and not through the agencies that I have been using. Anyway, the agencies do not provide any protection for the landlord; they just try and find the tenants and collect the money.
The third and most interesting thing to relate was the conversation I had was with one of the agents after taking his board back. He said he hasn't sold anything for two months, and the only people who are looking to rent are non western europeans who come with the high risk factor mentioned above. He also said that many landlords who found they couldn't sell are cutting rental prices drastically, up to 33%, in order to get some money coming in. However, cutting prices has attracted riskier tenants which has resulted in an increase in late payment/non payment or even unauthorised sub-letting. And in Spain eviction is extremely difficult.
Apart from the property point of view, the whole area seemed extremely quiet for this time of year. I could park virtually outside my agent's door for a start, there didn't seem to be many people walking around in the day time and in the evening there were hardly any people in the bars either. It's quite ironic that if people could actually afford to travel, there are going to be some bargain summer rentals this year.
Tough times ahead.
The first thing to say is that these tenants are the first I´ve had for long term for nearly two years due to the risks that are involved, especially if you let to non western europeans. (i.e. the five year rule, possible eviction problems/ length of court cases, damage, theft etc etc)
The second thing to say is that these tenants were found through mutual friends and not through the agencies that I have been using. Anyway, the agencies do not provide any protection for the landlord; they just try and find the tenants and collect the money.
The third and most interesting thing to relate was the conversation I had was with one of the agents after taking his board back. He said he hasn't sold anything for two months, and the only people who are looking to rent are non western europeans who come with the high risk factor mentioned above. He also said that many landlords who found they couldn't sell are cutting rental prices drastically, up to 33%, in order to get some money coming in. However, cutting prices has attracted riskier tenants which has resulted in an increase in late payment/non payment or even unauthorised sub-letting. And in Spain eviction is extremely difficult.
Apart from the property point of view, the whole area seemed extremely quiet for this time of year. I could park virtually outside my agent's door for a start, there didn't seem to be many people walking around in the day time and in the evening there were hardly any people in the bars either. It's quite ironic that if people could actually afford to travel, there are going to be some bargain summer rentals this year.
Tough times ahead.
QUOTE (markinspain @ Jun 5 2008, 09:43 AM)
I´ve been popping to down to the tourist area over the last couple of days to help my new long term tenants settle in to my flat and I thought I´d share a few observations with you.
The third and most interesting thing to relate was the conversation I had was with one of the agents after taking his board back. He said he hasn't sold anything for two months, and the only people who are looking to rent are non western europeans who come with the high risk factor mentioned above. He also said that many landlords who found they couldn't sell are cutting rental prices drastically, up to 33%, in order to get some money coming in. However, cutting prices has attracted riskier tenants which has resulted in an increase in late payment/non payment or even unauthorised sub-letting. And in Spain eviction is extremely difficult.
Apart from the property point of view, the whole area seemed extremely quiet for this time of year. I could park virtually outside my agent's door for a start, there didn't seem to be many people walking around in the day time and in the evening there were hardly any people in the bars either. It's quite ironic that if people could actually afford to travel, there are going to be some bargain summer rentals this year.
Tough times ahead.
The third and most interesting thing to relate was the conversation I had was with one of the agents after taking his board back. He said he hasn't sold anything for two months, and the only people who are looking to rent are non western europeans who come with the high risk factor mentioned above. He also said that many landlords who found they couldn't sell are cutting rental prices drastically, up to 33%, in order to get some money coming in. However, cutting prices has attracted riskier tenants which has resulted in an increase in late payment/non payment or even unauthorised sub-letting. And in Spain eviction is extremely difficult.
Apart from the property point of view, the whole area seemed extremely quiet for this time of year. I could park virtually outside my agent's door for a start, there didn't seem to be many people walking around in the day time and in the evening there were hardly any people in the bars either. It's quite ironic that if people could actually afford to travel, there are going to be some bargain summer rentals this year.
Tough times ahead.
Hi MIS whereabouts is your apartment? Is it the same all over Spain - what about Costa Blanca? I have been told that houses sell OK but not apartments and that the investment market is a nonsense now - most buyers are owner occupiers?
QUOTE (Londongirl @ Jun 5 2008, 06:40 PM)
Hi MIS whereabouts is your apartment? Is it the same all over Spain - what about Costa Blanca? I have been told that houses sell OK but not apartments and that the investment market is a nonsense now - most buyers are owner occupiers?
The apartment is in Roquetas de Mar Urba (Almería) which is a specially built tourist area, although I live further up the coast in a Spanish area. I can't really give you information about the Costa Blanca as I don't know that area, but I can't see how any area would be immune. I would agree with you that houses have a better chance of selling, but a house opposite some Spanish friends of mine has been on the market since I came here, despite dropping the price by 200,000 Euros! There are loads of Spanish people who are now in financial trouble after buying 6 or 7 apartments off plan to try and flip, so you could say that the investment market is dead -
. I really can't see anyone buying anything at the moment as the banks have stopped lending here too.
QUOTE (Londongirl @ Jun 5 2008, 05:40 PM)
Hi MIS whereabouts is your apartment? Is it the same all over Spain - what about Costa Blanca? I have been told that houses sell OK but not apartments and that the investment market is a nonsense now - most buyers are owner occupiers?
The Costa Blanca is being hit hard in every category of housing, too much inventory at the moment:
Read between the lines of this spin.......
http://www.thinkspain.com/news-spain/15045...ousing-minister
'A good time to buy new home', argues Housing minister
During an interview on TVE this morning, Housing minister, Beatriz Corredor, claimed that now that property prices are rising more or less in line with the IPC inflation rate, "it is the right moment" to buy, and urged property promoters to make an effort to ensure that vacant property prices "adapt" to the demands of the market.
Pointing out that there are currently 600,000-1,000,000 vacant properties in Spain, but only around 450,000 potential buyers, the minister encouraged property developers "to be able to adjust their prices" in line with the laws of supply and demand theory.
Maybe their inflation figures are as botched as ours.
Also, WTF doesn't the central Govt. sort out the land-grab mess of the regional govt. (Valencia etc.) and sort out the blatant corruption of the regional planning depts down south if they want their houses to sell again?!!
Another little anecdotal. Just drove down today and passed the estate agent that sold me my flat. This agent is right on Roquetas de Mar high street with plenty of footfall, so I was quite surpised to see it had closed down. This company had a group of 5 offices if I remember so if the main one has gone, I expect the others would have too.
An extra point, Lidl´s shelves were half empty this morning due to the lorry drivers´ strike. Just goes to show a couple of days of blockages and food supplies are impacted very quickly.
An extra point, Lidl´s shelves were half empty this morning due to the lorry drivers´ strike. Just goes to show a couple of days of blockages and food supplies are impacted very quickly.
Hi - has anyone heard of a big property company (southern Spain) called Euro Prestige - they promote themselves as being in the business for 20+ years and have a great reputation etc etc. Just wondered if anyone knew of them and what they are really like?
Hello from a New member.
Wish I had found this Forum earlier.
We are currently in the process of purchasing a resale apartment on the Costa del Sol approximately 10Km west of Marbella.
I have been over to view the apartment and surrounding area and was quite impressed.
The apartment seems good value for money considering it's size and location and has been fully refurbished.
My wife and I intend to purchase the property and rent it out long term { 11month contracts } and take the odd holiday there. In around four years when our child finishes primary school in the UK we plan to move to Spain.
The purchase process has been ongoing for 2 months now and we are awaiting a bank valuation in order to finalise the LARGE mortgage.
Due to recent events including the Credit Crunch here in the UK I have started to have second thoughts. When we started the purchase process the economy was not in such a state as it is now.
If we continue with the purchase then we will have a nice large apartment but also a very large mortgage in addition to our smaller UK mortgage.
If for some reason we cannot rent out the property then we will really struggle to repay the Spanish mortgage and in the worse case scenario we could lose the property.
I stand to lose my 6,000 Euro reservation deposit if I cancel the purchase but stand to lose much more if we then find that we cannot afford the repayments.
I have enough money saved in my UK bank to pay the mortgage shortfall and secure the property.
If I cancel the property purchase and lsoe the 6,000 Euros then that remaining money could be used to pay off my UK mortgage so I would be virtually debt free. I could then look to retire early.
My wife will be heartbroken if I cancel.
Any Advice from experienced members would be much appreciated in helping me to decide my fate.
Thank You in advance
Wish I had found this Forum earlier.
We are currently in the process of purchasing a resale apartment on the Costa del Sol approximately 10Km west of Marbella.
I have been over to view the apartment and surrounding area and was quite impressed.
The apartment seems good value for money considering it's size and location and has been fully refurbished.
My wife and I intend to purchase the property and rent it out long term { 11month contracts } and take the odd holiday there. In around four years when our child finishes primary school in the UK we plan to move to Spain.
The purchase process has been ongoing for 2 months now and we are awaiting a bank valuation in order to finalise the LARGE mortgage.
Due to recent events including the Credit Crunch here in the UK I have started to have second thoughts. When we started the purchase process the economy was not in such a state as it is now.
If we continue with the purchase then we will have a nice large apartment but also a very large mortgage in addition to our smaller UK mortgage.
If for some reason we cannot rent out the property then we will really struggle to repay the Spanish mortgage and in the worse case scenario we could lose the property.
I stand to lose my 6,000 Euro reservation deposit if I cancel the purchase but stand to lose much more if we then find that we cannot afford the repayments.
I have enough money saved in my UK bank to pay the mortgage shortfall and secure the property.
If I cancel the property purchase and lsoe the 6,000 Euros then that remaining money could be used to pay off my UK mortgage so I would be virtually debt free. I could then look to retire early.
My wife will be heartbroken if I cancel.
Any Advice from experienced members would be much appreciated in helping me to decide my fate.
Thank You in advance
QUOTE (Jedi @ Jun 17 2008, 01:40 PM)
Hello from a New member........
Everyone who replies to your post will have an opinion.
However, it is you who makes the decision.
I have read your post in full a couple of times and it seems to me that you consistently make points against buying. Therefore, ask yourself what are the possible positive outcomes in a falling market where there is oversupply in abundance (selling and renting) and thereafter can you still justify buying.
My opinion, get out of the contract now and acknowledge a 6k Euro loss that could have been far worse.
still, I don't have a crystal ball.
good luck
QUOTE (prophet-profit @ Jun 17 2008, 01:02 PM)
Everyone who replies to your post will have an opinion.
However, it is you who makes the decision.
I have read your post in full a couple of times and it seems to me that you consistently make points against buying. Therefore, ask yourself what are the possible positive outcomes in a falling market where there is oversupply in abundance (selling and renting) and thereafter can you still justify buying.
My opinion, get out of the contract now and acknowledge a 6k Euro loss that could have been far worse.
still, I don't have a crystal ball.
good luck
However, it is you who makes the decision.
I have read your post in full a couple of times and it seems to me that you consistently make points against buying. Therefore, ask yourself what are the possible positive outcomes in a falling market where there is oversupply in abundance (selling and renting) and thereafter can you still justify buying.
My opinion, get out of the contract now and acknowledge a 6k Euro loss that could have been far worse.
still, I don't have a crystal ball.
good luck
Thanks for the reply prophet-profit.
It is only the recent credit crunch that has caused me to have second thoughts.
Went to the local supermarket on Friday for our main monthly shop.
Everyday items had gone up in price, not a couple of pence but 17p and 19p. I ended up spending @ £20 more and didn't even buy the normal treats such as chocolate and sweets. My monthly diesel costs have gone up by £15 and also gas and electricity too.
We never envisaged this when we decided to invest in Spain.
I suppose that there will be other members in the same position as we are.
Does anyone else wish to share their opinions and comment on this matter?
Thanks Again.
QUOTE (Jedi @ Jun 17 2008, 02:40 PM)
Hello from a New member.
Wish I had found this Forum earlier.
We are currently in the process of purchasing a resale apartment on the Costa del Sol approximately 10Km west of Marbella.
I have been over to view the apartment and surrounding area and was quite impressed.
The apartment seems good value for money considering it's size and location and has been fully refurbished.
My wife and I intend to purchase the property and rent it out long term { 11month contracts } and take the odd holiday there. In around four years when our child finishes primary school in the UK we plan to move to Spain.
The purchase process has been ongoing for 2 months now and we are awaiting a bank valuation in order to finalise the LARGE mortgage.
Due to recent events including the Credit Crunch here in the UK I have started to have second thoughts. When we started the purchase process the economy was not in such a state as it is now.
If we continue with the purchase then we will have a nice large apartment but also a very large mortgage in addition to our smaller UK mortgage.
If for some reason we cannot rent out the property then we will really struggle to repay the Spanish mortgage and in the worse case scenario we could lose the property.
I stand to lose my 6,000 Euro reservation deposit if I cancel the purchase but stand to lose much more if we then find that we cannot afford the repayments.
I have enough money saved in my UK bank to pay the mortgage shortfall and secure the property.
If I cancel the property purchase and lsoe the 6,000 Euros then that remaining money could be used to pay off my UK mortgage so I would be virtually debt free. I could then look to retire early.
My wife will be heartbroken if I cancel.
Any Advice from experienced members would be much appreciated in helping me to decide my fate.
Thank You in advance
Wish I had found this Forum earlier.
We are currently in the process of purchasing a resale apartment on the Costa del Sol approximately 10Km west of Marbella.
I have been over to view the apartment and surrounding area and was quite impressed.
The apartment seems good value for money considering it's size and location and has been fully refurbished.
My wife and I intend to purchase the property and rent it out long term { 11month contracts } and take the odd holiday there. In around four years when our child finishes primary school in the UK we plan to move to Spain.
The purchase process has been ongoing for 2 months now and we are awaiting a bank valuation in order to finalise the LARGE mortgage.
Due to recent events including the Credit Crunch here in the UK I have started to have second thoughts. When we started the purchase process the economy was not in such a state as it is now.
If we continue with the purchase then we will have a nice large apartment but also a very large mortgage in addition to our smaller UK mortgage.
If for some reason we cannot rent out the property then we will really struggle to repay the Spanish mortgage and in the worse case scenario we could lose the property.
I stand to lose my 6,000 Euro reservation deposit if I cancel the purchase but stand to lose much more if we then find that we cannot afford the repayments.
I have enough money saved in my UK bank to pay the mortgage shortfall and secure the property.
If I cancel the property purchase and lsoe the 6,000 Euros then that remaining money could be used to pay off my UK mortgage so I would be virtually debt free. I could then look to retire early.
My wife will be heartbroken if I cancel.
Any Advice from experienced members would be much appreciated in helping me to decide my fate.
Thank You in advance
I agree with Prophet-Profit. It is your money, but if I knew 2 years ago what I know now I wouldn't have bought. (Fortunately, I can ride out the storm as I don't have mortgages). OK you might lose 6000 euros, but you can rent a good property here for
a year for that amount of money.
Reasons not to buy are:-
1. You say you'll be mortgage free on your house in the UK if you don't. A no brainer really - now is the time to be debt free.
2. You can rent beautiful properties without all the stress of maintenance and you are free to pack up and move location whenever you like.
3. It's very difficult to find tenants for long term or holiday lets, the rental rates are unlikely to cover any mortgages and the law favours tenants here.
4. You can't trust any of the agents no matter what country they come from. There are so many scams going on that are too numerous to mention here.
5. The resale market is non-existent in Spain. There are over 1 million homes for sale. Do you really want to be trying to sell a depreciating asset if things don't work out?
MIS
Hello Jedi,
Where exactly is the apartment? -I had a place not too far from there and may be familiar with the development.
One thing to bear in mind is the rising euribor. Mortgage costs are rising and there is currently no prospect in the foreseeable future that this outlook will change.
You may lose 6k, but what would the "large" mortgage be costing you?
As for renting out 11 months a year -given the glut of literally hundreds of thousands of empty apartments on the CDS, that may be unrealistic.
Also do you know what the community fees are -they are often quite high in this region.
It's tough being in your situation but when you sit down and do the maths, may be a 6k loss would not be your worst scenario...
All the best with your decision.
Where exactly is the apartment? -I had a place not too far from there and may be familiar with the development.
One thing to bear in mind is the rising euribor. Mortgage costs are rising and there is currently no prospect in the foreseeable future that this outlook will change.
You may lose 6k, but what would the "large" mortgage be costing you?
As for renting out 11 months a year -given the glut of literally hundreds of thousands of empty apartments on the CDS, that may be unrealistic.
Also do you know what the community fees are -they are often quite high in this region.
It's tough being in your situation but when you sit down and do the maths, may be a 6k loss would not be your worst scenario...
All the best with your decision.
QUOTE (forestfire @ Jun 17 2008, 03:16 PM)
Hello Jedi,
Where exactly is the apartment? -I had a place not too far from there and may be familiar with the development.
One thing to bear in mind is the rising euribor. Mortgage costs are rising and there is currently no prospect in the foreseeable future that this outlook will change.
You may lose 6k, but what would the "large" mortgage be costing you?
As for renting out 11 months a year -given the glut of literally hundreds of thousands of empty apartments on the CDS, that may be unrealistic.
Also do you know what the community fees are -they are often quite high in this region.
It's tough being in your situation but when you sit down and do the maths, may be a 6k loss would not be your worst scenario...
All the best with your decision.
Where exactly is the apartment? -I had a place not too far from there and may be familiar with the development.
One thing to bear in mind is the rising euribor. Mortgage costs are rising and there is currently no prospect in the foreseeable future that this outlook will change.
You may lose 6k, but what would the "large" mortgage be costing you?
As for renting out 11 months a year -given the glut of literally hundreds of thousands of empty apartments on the CDS, that may be unrealistic.
Also do you know what the community fees are -they are often quite high in this region.
It's tough being in your situation but when you sit down and do the maths, may be a 6k loss would not be your worst scenario...
All the best with your decision.
Hello
The apartment is on the hillside above Calahonda, overlooking the sea approximately 10 minutes drive from the beach at Cabopino.
Our mortgage will be in excess of 200,000 euros which means monthly payments of @ 1200 euros.
A couple of months ago I would not have been worried about repayments but now in todays present economic crunch who knows what will happen.
Thanks for the Reply.
QUOTE (Jedi @ Jun 17 2008, 03:30 PM)
Hello
The apartment is on the hillside above Calahonda, overlooking the sea approximately 10 minutes drive from the beach at Cabopino.
Our mortgage will be in excess of 200,000 euros which means monthly payments of @ 1200 euros.
A couple of months ago I would not have been worried about repayments but now in todays present economic crunch who knows what will happen.
Thanks for the Reply.
The apartment is on the hillside above Calahonda, overlooking the sea approximately 10 minutes drive from the beach at Cabopino.
Our mortgage will be in excess of 200,000 euros which means monthly payments of @ 1200 euros.
A couple of months ago I would not have been worried about repayments but now in todays present economic crunch who knows what will happen.
Thanks for the Reply.
Evening Everyone.
Are there any members with apartments in the Calahonda / Marbella area who are having trouble Renting out or Selling their proeperties at the moment.
We have a very Important , possibly Life changing Decision to make before we get asked for the 10% deposit to secure the property. Take a 6,000 Euro loss now or maybe lose much more if we cannot afford the payments.
The seller has been very helpful with reducing the price as you can imagine.
Thanks
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