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moedo12

Spanish House Price Crash Website?

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(Described by others as equivalent of HPC forum but in Spain)

http://www.burbuja.info/inmobiliaria/index.php

Google Chrome does the easiest job of translating it for me. They're not all happy about any HPC over on that forum; they're still waiting for one.

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"Promoted with a memorable TV campaign fronted by Jack Nicklaus and a very slick sales operation, Polaris convinced thousands of buyers many from the UK to pay top prices for property in the desert."

Why o why does common sense go out the window with property

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"Promoted with a memorable TV campaign fronted by Jack Nicklaus and a very slick sales operation, Polaris convinced thousands of buyers many from the UK to pay top prices for property in the desert."

Why o why does common sense go out the window with property

....because they leave their brains on the plane......and borrowed money is easy, free and cheap money, be stupid not to. ;)

Edited by winkie

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Watching Place In the Sun. Spain on mkt Euros158k. She just said it was Euros210k last yr...

Don't know if its a new episode but all good. :-)

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I have a place in Spain that I have owned since 2002 and I was out there last week - Costa Del Sol

Fortunately it is on a good, well kept development - by chance more than design on my part

One the same as mine has sold in the last month for 30% more than the off plan new price was back in 2002

In the depths of the recession - that I would say was late 2008 there - one sold for 25% less than the off plan new price. I know of 3 (and there might be more) that were repossessed in 2008 - 2011 and are still sat empty and owned by the lending bank. So far none of those 3 has been publicly offered for sale and who knows what the back story is to them

There are plenty of developments that were never completed / where significant numbers of owners are in arrears on community charges etc. where, quite frankly, I don't think a property would sell at almost any price. And there are plenty of properties that are available for 50% below peak prices (mid 2007 I would say - when it was bonkers: queues outside developers sales huts etc.).

There are more signs of building taking place now than I have seen since 2007 too. Not massive amounts, but certainly enough to be significant. Whether these places will sell and at what price remains to be seen of course.

Aldi and Lidl are expanding there, though not at the same rate as here in the UK

Prime spots - like the Marbella Golden Mile - are hot spots - I counted 12 massive villas being built on a short walk around down there. One on the beachfront that must be 15,000 sq ft. Often the signs around these sites are in English, Russian and Norwegian / Swedish.

I don't know anything at all about 'local' housing away from the coast, but on that stretch of coast from Fuengirola to Marbella it feels a bit more optimistic than it has at any time since 2008. Not buoyant, but not all doom and gloom.

That optimism could be misplaced of course and I certainly wouldn't borrow much to buy out there just now. But, as a place to go to get some sun / golf, there are certainly some decent enough properties available for prices that do feel like better value than in some parts of the UK

Unemployment is a major issue in Spain still and I am sure that has more impact on "local away from the Costas" housing than it does on 'holiday resort / second home' housing.

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A relative of mine bought a place in Spain last year as a winter retreat in the Costa Blanca.

Spain still has a lot going for it for British tourists and retirees.

Warm weather all year round, English-speaking locals, cheap flights etc.

10% stamp duty though - ouch!

People here bicker about paying 3%.

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