BrianR

Well the Spanish do not agree with you as it is very popular with them including the Spanish Prime Minister and several others who have holiday homes in Vera Playa! Not a bad principle to buy where the locals do in any property market! Lots of scope for development and lots planned including the AVE Some of the best beaches in Spain and Cabo de Gata is an interesting country park and attractive mountains provide a backcloth to views Some parts not so attractive as others but that applies to everywhere but a low crime rate and of course the best overall weather in Southern Europe So all in all not bad!!.....but if you want the fast night life and a fashion location then of course it does not compare with CDS........but for the price of a decent 2 bed apartment in CDS you can get a nice villa !!! Quiet except for June/ August which is very nice for some but not all and a touch inland which is where I have bought everything is very much cheaper......4 freshly cooked tapas and 2 beers for 6.5€!.....not as cheap as it used to be in £ but that will change again So many do think that it is a great location for 'life style' buying

Everyone used to think that Spain had all the problems and Dubai was the star in the east! Dubai probelms now make those previously experienced in Spain look minute in comparison and at least most of the properties were built and the majority of the so called' illegal homes' will be made legal And the legal system whilst slow is at least european and you can exercise bank guarantees and the banks will pay [ or be made to pay] The stories coming out of Dubai do not make pleasant reading, lets hope it recovers in due course but for many off plan investors it is not looking good just now

In this current market life style buyers should be a touch careful about buying direct from owners OK if you know the market well but all too often the asking prices are historic and unrealistic. Now this may be because the seller does not have to sell and so will just sit it out until a buyer comes along at the price they want Now you may just find a bargain but you should take as your starting point an offer circa 25% less than asking price and bear in mind that there are lots of distressed sales out there: 2 bed duplex , price paid 185.000 € owner has to sell to clear debt so will take 130.000 €...and so on for all types and price ranges....even a new villa in Altea down from 1.400.000 € to 795.000 €!!!...........actually it was probably overpriced even at the top of the market!!! La Manga a 1m € + villa sold by a bank for 650.000 € to clear the mortgage Lots of builders with ready now have reduced asking prices by 25%...now of course not all sellers have to sell so not all will give discounts but many will in excellent locations You may say that I have a vested interest in saying this but today agents can not afford to market properties where the asking prices are not in line with the current market! Also re sale fees charged by agents are well down and 3% is not unusual So if you think you will get a better deal buying direct, then bear this in mind and perhaps you will

Yes but they are very selective as you can imagine As always the most important aspect is location and in recessions like this buyers tend to be conservative and hence go back to basic locations That is why France and Spain will remain popular...known locations and modern economies and as far as Spain is concerned all the problems of the past have been sorted by new regulations for buyers Off plan is dead in the water or should I say 'in concrete' for several years to come Those buying want ready now or re sales..there is ofcourse no benefit in buying off plan now ...just extra risks Also buyers are much more aware of the market and just now in Spain there are some excellent buys for 'life style ' buyers including distressed sales EG: 2 bed duplex with large solarium in an attractive established small complex, facing the right way and 15 mins walk to sea........they paid 185.000 € but now to get out of the mortgage need 130.000 €! Also lots of ready now of all types with asking prices down 25%- 3 bed quad in Mercia was 189.000 € now 140.000 € ...an so on! Now you may or may not be buying at the bottom of the cycle, no one ever knows when the bottom is reached until afterwards! But at least in Spain reality has set in and if you buy in good locations, then medium to long term you should be OK and in the meantime have lots of life style fun Be a bit careful of buying re sales direct as if the seller does not have to sell , then sometimes the asking prices are historic!.......most agents today can not afford to market properties at unrealistic prices! So whilst it is slow, it is not all doom and gloom and there are buyers in Spain.....but in my experience a lot waiting to see what happens to the exchange rate this year...if it improves as some expect to 1.25 this year then I think we will see a lot more activity As far as I know it is the same in France but less supply of ready now from builders who are prepared to accept sensible offers

relatively crime free for a EU location and Spain is in Almeria between Aguilas and Mojacar And there are gated and secure developments Good schools and nice properties Relatively quiet location except for July/ August and the Spanish PM and some other ministers have holiday home here A nice 2 bed villa on a good size plot will cost you from circa 150.000 € depending on where you want to live Just now some very good buys about but who knows what the position will be like in 2 year or so...I would have thought that we will see some economic recovery in EU by then

Well Polaris World is ticking over - at Condado de Alhama the first buyers are taking possession and by all reports loving it; some report that the mortgage valuation is higher than the price they are paying which is probably a surprise to them but the prices were very competitive Like all developers the world over Polaris World are reviewing their building time scales and on ready now there are some very good deals not only for the unsold properties on the established resorts but on Condado de Alhama Long term a 2 bed unit at 119.800 € may turn out to be not a bad deal for life style buyers, even with current exchange rate! Some of the other developers are as you would expect having probelms and if you are a life style buyer in 2009 you need to be selective and get good advice The former advantage of buying off plan has gone for now so to be safe new ready now or re sales are probably the best ones to look at for a good deal...and what you see is what you get! Everyone knows that some of retired buyers in all of EU are finding life a bit tough due to the exchange rate and I suspect a touch more in France where the cost of living is higher than many parts of Spain The German Banks seem to think that the exchange rate will be circa 1.20 late 2009 which is a touch better...a full recovery to circa 1.40 depends on how the UK economy performs relative to the EU The sun still shines, the food is good, nice wine and in general ' quite a nice life style' appealing to many when they reach mid 50's or 60's to get away from UK in the winter or for full time living

After yesterday it looks as though we are all in for a torrid time everywhere! All the so called emerging markets now look very bad and in times like this the best locations come out best and also the safe ones [ if anywhere value wise is safe] So what do life style buyers do? If you are in or approaching your 60's and want to spend full or part time in the sun, or even want a holiday how in the sun then you have to make a pragmatic decision Life is moving on, waiting a year or so for values to improve, to make your purchase look like a good investment, is a long time Spain and other popular sun locations still remain the best for life style and with Spain you know that to the major airports flights will still be available: so they have the advantage of easy access There are parts of Spain which are not overdeveloped....eg Almeria between Aguilas and Mojacar where prices are cheaper than say Costa del Sol There are some very good buys in good locations available now....will the price be lower in 12 months...who knows but it is always difficult to buy at the bottom of the cycle So if you want a life style purchase, can afford it and having it now is more important than investment ,then 2009 may not be a bad time to buy But make sure that you take all sensible precautions Whilst no one will be able to say you are buying at the bottom, the history of property economics illustrate that the recovery will come in time and buyers in 2009 will I suspect look back and see that they have had lots of enjoyment out of their purchase and it has been a good deal Before yesterday I tended towards the view that we should start to see some recovery by mid to late 2010, now it looks like 2011 !! I have bought for part time living and technically I have a paper loss [ but not in sterling!] but in 10 years it will probably look cheap

Cuevas is nice but also near Huercal Overa and if you want to be near the coast San Juan de los Terreros Some good deals here and it is an area just being developed and very popular with the Spanish in summer Not a bad policy to buy where it is popular with the locals Not all builders are having to reduce their prices, some just stop building for the time being But mainly for life style buyers not inexperienced investors!!!.....if you buy with a view to enjoying it yourself and treat the capital growth over the next 5/10 years [ yes values will recover as they did after the 70's crash which was worse than today!] ...as a bonus then there is a lot of fun to be had from a home in Spain....full/part time or just as a holiday home

It seems to get worse in UK by the day and to think that it was only a short time ago that everyone in UK thought we had the strongest economy in EU!! Now all the slagging about the Spanish economy is put into perspective!...having problems like everywhere but at least their banks did not get caught out in USA and had to be saved by their government buying large chunks of them Seems as though Santander is buying up our banks!! They have their own property problems and it will take time to sort out but for those who can buy there are some very good deals on properties in good locations Same applies to UK and the dealers here are out and about but for many who were planning a life style move to Spain, either full or part time , there is uncertainity and yet their life is passing by How long to wait to buy, is it safe,the exchange rate....no real answer as in the end it becomes a personal decision But it is certainly worth a look just now to see what you will get for your money. Done properly it is certainly safe as all the new regulations are cutting out the problems people have had in the past No need to pay a non refundable reservation fee now...go straight to the contract 25/30% deposit for off plan and make sure that you get your bank guarantee at the same time as you pay your money Complete only with the licence of first occupation and if all the facilities are not fully complete make sure that they will be Take your time but at least for those that seek it, the life style has not changed and the sun still shines and the winters are bright and warm Perhaps we all need a bit of sun to cheer us up!!!!

Interesting and this forum post has been quite quiet for a while...perhaps those interested in Spain have been there on holiday or just watching the Olympics After the holidays are over interest from life stye buyers will possibly start again and there are certainly good deals about from all developers, even the big well known ones like Polaris World So for anyone who has the funds or can get the finance ,which is still available in Spain, the last quarter of 2008 may well prove to be a good time to go over to Spain to have a look and see first hand what you can get for your money After all the life style basics for Spain are still the same and the sun does still shine!!! If you do not look you may just miss out on a good opportunity...bit like UK...if you are wanting a holiday home or to retire to somewhere nice the current market is a good time to go looking Prices may get easier and deals a touch better but there is always a level at which everything just stops.....builders and private vendors start to wait for a recovery and just sit it out...this is already starting to happen and people are only selling if they have to For anyone serious it may just be the time to take the next step in 2008 early 2009.....or even now so that you can get away from our UK winters and have a bit of sun!!

On past markets 12/18 years to the next boom is probably a touch too long to wait...perhaps circa 10 years Should start to move again circa 2010 but booms only come every so often But that does not mean everyone should keep out of the property markets in EU, most are life style buyers and the current market in general reflects the current stage of the economic cycle You can waste a lot of enjoyable life style if you wait for the booms to start before buying...............no reason not to buy for life style reasons in EU provided you can afford to and look for the good buys which are around Established markets like UK France and Spain are the best ......I'm afraid Turkey has a lot to sort out before it can be a reliable location for life style buyers

Yes,because the administrators will still run the business and then look at all options.....that is the procedure Parador may well in some form or another still trade in the future In the meantime many of their clients will be a touch concerned........and of course one of the problems the administrators have in running the business that anyone wanting to buy in 2008 will probably not want to use them Service business are always the most difficult to deal with in administartion

This is a copy of the press release today Parador Properties, which was once considered to be one of Europe’s top estate agents, has gone into voluntary administration. The company had operations in Ireland, Spain, Sweden, the United Arab Emirates, and the UK, though most of the homes it sells are located in Spain. The company took a client-centered approach to property sales by flying prospective purchasers to their desired destinations and offering advice about specific areas and communities. Simon Lambert and managing director Jack Hamilton founded Parador in 1998. Homes Overseas received a statement from Quay West Communications, Parador’s PR company, moments ago. It says: “It is with regret that Parador Properties has announced that, due to the downturn in the overseas property market, it has gone into voluntary administration. This does not affect property purchases by any of its clients, as all contracts were made between the individual client and the builder; Parador Properties acted only as an introductory agent.” Not a nice bit of news but perhaps a reflection of the current state of the property market in EU and other markets General feeling is that the market will start to move again in 2010 both UK and Spain In the meantime some good buys about For life styel buyers 2008 may yet turn out to be a good time to buy.....in the years to come[ next boom perhaps circa 2018!] To anyone who was thinking about buying via Parador, there are still agents like myself who provide a professional service, who can help you find that good buy in 2008 But I think the days of £20 pp Inspection Trips have gone forever!!!

Well you have to admit that with the ever increasing cost of heating your home which everyone says is going to increase a lot over the next 10/20 years.....at least on the Spanish Costas this is cheap!!!.....only needed a bit for a few months a year.....hot water now by solar for every residential unit and probably for everything else in 10/20 years Air con...well living there you get used to it and then only needed for a few really hot weeks.............should make Spain a very attractive location for the future retired generations who live off their pensions....and do not want to waste fossil fuels! Just may be reason for some of the younger/ middle aged generation to think about buying now for their future retirement...and having some fun using it in the meantime!!

As 2008 moves on there are some good deals about for 'life style buyers' The odd bank sale if you can find them.....just received details of a 2 bed GF apartment in Vera Playa Almeria now at 157.000 € as the bank wants a sale...an offer circa 136.000 € may interest them! Most in this part of Spain are just holding on as it is going to be a growth area when EU economy gets back to normal...say circa 2010 So in the very best locations the price is static with the odd offer! and very much cheaper than CDS and the life styel more ' relaxed' But most 'life style' buyers can not wait for ever.......in 2008 the good deals balance off the low exchange rate.....and in the years to come purchases now will look very good!!!.....bit like UK now!!