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TheCountOfNowhere

Living The Dream....

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An old colleagure of mine bought one of these in 1996 for 24K, a bit before the Spainish property ramping started....

http://www.rightmove.co.uk/overseas-property/property-49389766.html

2 bedroom bungalow for sale

In line with inflation 24K is now worth: £41K.
The other side of the coin is, maybe's now is not a bad time to buy this....if you dont mind the crime, area etc.
Edited by TheCountOfNowhere

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Brilliant. Tho' I always thought they were sensibly priced at Euros 200,000.

If The Euro/Pounds exchange rate is 6:1 then I';d agree :D

I think these places topped out about 100K.

In 2008 I offered someone in Spain 25K for one to see what they would say...the response was, dont be daft they'll never be worth that litttle:

So 25K in 2008 is now worth: £31K.

I guess they were right :P:P:P

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Anything between £20k to £30k seems about right....don't forget the service/maintenance insurance and other costs and taxes on top, not forgetting cost of getting there and cost of transportation whilst there ..... if living there the poor job prospects ... health insurance and growing cost of food and electricity pricing.

Add up the cost plus extras and risks.......why not.....you are not buying a place like that as an investment surely.....bit like buying a car, you buy it for what it can do for you not on how much money it might or most likely not make you......one day you may not be able to give it away....life is what you make it. ;)

Edited by winkie

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Anything between £20k to £30k seems about right....don't forget the service/maintenance insurance and other costs and taxes on top, not forgetting cost of getting there and cost of transportation whilst there ..... if living there the poor job prospects ... health insurance and growing cost of food and electricity pricing.

Add up the cost plus extras and risks.......why not.....you are not buying a place like that as an investment surely.....bit like buying a car, you buy it for what it can do for you not on how much money it might or most likely not make you......one day you may not be able to give it away....life is what you make it. ;)

I'd not buy it myself but might be a bad idea for someone over 60 wanting to spank 30K and get a bit of sun 3 months out the year.

definitely better than a 100K spanking for sure.

Like living in the UK, I think renting such places is better value and much lower risk

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I looked at moving to Spain and Greece last year. Alicante is one of the cheapest areas... 48,000 EUR for that? I doubt it'll sell for anything more than 30,000. You can buy a 3 bed detached with pool and no neighbours for about 60k.

I wouldn't touch Spain with a bargepole given their penchant for building illegal homes, selling to foreigners and then bulldozing them,.

Edited by spunko2010

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I'd not buy it myself but might be a bad idea for someone over 60 wanting to spank 30K and get a bit of sun 3 months out the year.

definitely better than a 100K spanking for sure.

Like living in the UK, I think renting such places is better value and much lower risk

Choices.....all for free and open choices, what I don't understand is when people blame others or cry over spilled milk http://idioms.thefreedictionary.com/It%27s+no+use+crying+over+spilled+milk and find they are stuck with a pig in a poke http://www.phrases.org.uk/meanings/a-pig-in-a-poke.html....they thought they were holding an asset and it turned out to be a liability....... ;)

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I looked at moving to Spain and Greece last year. Alicante is one of the cheapest areas... 48,000 EUR for that? I doubt it'll sell for anything more than 30,000. You can buy a 3 bed detached with pool and no neighbours for about 60k.

I wouldn't touch Spain with a bargepole given their penchant for building illegal homes, selling to foreigners and then bulldozing them,.

Any links to 3 bed detached for 60K , is that Euros ?

I do like a good laugh.

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An old colleagure of mine bought one of these in 1996 for 24K, a bit before the Spainish property ramping started....

http://www.rightmove.co.uk/overseas-property/property-49389766.html

2 bedroom bungalow for sale

In line with inflation 24K is now worth: £41K.
The other side of the coin is, maybe's now is not a bad time to buy this....if you dont mind the crime, area etc.

You'd have to like the smell of horses.Check satellite view.

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What does it look like in the rain and cloud? How many months a year could an unheated pool be used? four?.......it is as cold over there in the winter after any sun has set as it is over here, and the insulation of the houses is generally pretty poor...few places have central heating even fewer have carpets and certainly no cavity wall insulation. ;)

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Well, quite. For the asking price (plus sale expenses) of the building in the OP, you could get 10 years' rent of the above. Or 20 years if you only spent 6 months a year there (assuming rents don't rise that much in Spain in the next 20 years, and why would they).

Assuming you always want to go to the same place.

Or you could go to lots of different places instead.

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Well, quite. For the asking price (plus sale expenses) of the building in the OP, you could get 10 years' rent of the above. Or 20 years if you only spent 6 months a year there (assuming rents don't rise that much in Spain in the next 20 years, and why would they).

Assuming you always want to go to the same place.

Or you could go to lots of different places instead.

One good thing about renting long-term in Spain apart from lower rents is that the tenant is far better protected and has improved rights than a tenant in this country........so yes, unless you know the area really well, renting first has got to be the way to go. ;)

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You'd have to like the smell of horses.Check satellite view.

There's probably a reason the Spanish didn't want to live there for hundreds of years.

Apart from it being hot and dusty.......It's an earthquake zone. :P

http://www.torrevieja.com/eng/torrevieja/torrevieja-earthquake-2015.html

"Almost two centuries ago Torrevieja was devastated by an earthquake."

.

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Well, quite. For the asking price (plus sale expenses) of the building in the OP, you could get 10 years' rent of the above. Or 20 years if you only spent 6 months a year there (assuming rents don't rise that much in Spain in the next 20 years, and why would they).

Assuming you always want to go to the same place.

Or you could go to lots of different places instead.

Thanks for saving me typing the above.

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Depends what you want to do - you could retire in such a place (maybe not THAT place, but similarly priced place). When you're paying £25-£30K, it doesn't matter much if the price falls, rises or stays the same. When you blow £250K on a crap house in the UK, like it or not, you start caring about house prices quite a lot.

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