looking to buy in spain

Discussion in 'Spanish property' started by nigel1962, Sep 27, 2008.

  1. Spanishstokey

    Spanishstokey New Member

    Hi Nigel,
    A lot of good people out there, likewise a lot of not so good!!! But we all know that. Do some serious research, it took us at least a year before taking the plunge and have never looked back since................Forums like this one will offer lots of good advice. Good luck


  2. rowlandsbb

    rowlandsbb New Member

    Just arrived back from Almeria [ between Mojacar and Aguilas] and there are certainly some very good buys about which I suspect will more than make up for the low exchange rate if life styel buyers take the medium to long term view
    Most of these are distressed sales as other seller who do not need to sell are sitting tight [ just like UK] ]
    Same applies to new build ready now.....some very good discounts but again not all developers have to sell

    Of course late Nov/ Dec is always quiet and a good time to buy but if you go over now ][ and the flights and accom are cheap] we will be able to find you an excellent deal
    Will it get any cheaper next year?
    Well, there may be a few more distressed sales but in general the view is that the level will remain virtually the same and sellers will not reduce prices unless they have to sell
    For the sellers they can reduce the € price they will receive by say circa 20% and still end up with the same £ as they would have done at a higher sale price in the summer of 2007!!
    So even for sellers it is not all doom and gloom!
  3. heathrow

    heathrow New Member

    Any properties in Spain below 20,000 sterling

    As you know properties are plentiful in Egypt with a budget of £20,000. Can anything be bought for this price on an island or mainland Spain.
    Thanks in advance
  4. rowlandsbb

    rowlandsbb New Member

    Perhaps an old ruin but nothing much which you can use for a life style

    But there is a big question over properties in the middle east!........and the benefit of Spain is that it is an established economic country in the EU, albeit like almost everywhere in or moving in to recession
    But it is safe and with new regulations and proper precautions safe to buy in
    Also for most of EU quick to get to [ and cheap] all year round
    Egypt is a gamble and prices are cheap but really only for dealers [ who can look after themselves] and not for inexperienced life styel buyers
    Unless you are happy to write off your £20,000 the day you hand it over

    Now you can pick up a property which is quite nice for say £60,000 [ anything less may be a bit low spec] and it would be better to use the £20,000 as a deposit and get a mortgage
    All these are personal decisions for life style buyers and good luck to those who like to take a risk and buy in middle east or many of the so called emerging markets.......and I hope you enjoy using it!
  5. evanino

    evanino New Member

    I do have to agree with rowlandsbb. I personally had the opportunity to invest in Middle East. I did decide not to do it, because It is a diferent goverment, laws and rules that I am not familiar with. I only invest in establish markets. I currently own property in Virginia, USA, and Spain. The reason why I do have property in USA, is because mI lived there, get to know the laws, the market and the country. I will recomend to take a trip to where ever you want to invest and see it for yourself. If you find a property in Spain for that price will be in the middle os nowhere. How ever, I have seen properties for between 40,000 and 100,000 Euros, that are in Costa de la Luz, now there are not the super hot areas of the town. You can find something is the center od Jerez, for example, for 150,000 Euros. In my opinion is well worth it. I hope this helps and good luck.
  6. Randall

    Randall New Member

    Hi Rowlandsbb

    Could you please enlighten me on your statement about purchasing in Egypt. especially the part about writing off 20k the day you hand it over.

    I have not heard of one undelivered property leaving the purchaser to lose all of their monies,unlike Spain. Unless you know differently.

    Egypt property sales appear to be still in demand unlike Spain where all the corruption and previous brown envelope backhanders have left peoples dreams in tatters and have put off investors.

    If you compare what Egypt has to offer compared to Spain then 20k does give a totally different lifestyle. It gives a brand new apartment in a complex with pool and 5 star standards compared to a Spanish ruin.Therefore immediate holidays with better weather all year round,unlike Spain ,for less than a caravan in England.

    It offers a wealth of history, no lager louts, no Blackpool style resorts.

    The gamble of 20k as long as it is with a reputable agent and developer seems well worth it.
  7. marmenor

    marmenor New Member

    Some information regarding the Mar Menor and properties to buy over there

    Dear Nigel,

    we spent some time in Spain and than decided to buy properties in a golfresort not to far from the Mar Menor and close to the airport and towns. There are restaurants and a supermarket in the resort. We bought of course one to let for familys who want to spend their summerholidays near the beach and as well for golfers. The Mar Menor offers as well health&wellness, there is also a hotel at the resort with a spa.

    So it's always good to spend a holiday in Spain to learn more about the region and than decide to buy. At the moment there are a lot of properties for sale, so the time is good for people who want to buy, I just heard you have to be careful these days.
    If you would like to learn more about the Region Murcia (it's the new golfparadis of Spain - because they are building so many golfcourses and resorts) have a look on our website - you will find a lot of pictures of the resorts and the region and maybe some useful information for you as well.
    So if you decide to spend your holiday in our holidayproperty you are very welcome.
    Kind regards from sunny and warm Spain,
    Marion (marmenor):)

  8. dougsld

    dougsld New Member

    I'm sitting here shivering in the Costa Blanca right now - if you're looking to let year-round, I'd strongly suggest you consider the South rather than the North! I went on holiday to Andalucia last May, and it was delightful, many historic and vibrant towns within a short distance of Malaga, rolling green countryside, and a climate more akin to Morocco than Europe. Highly recommended. Best of luck with your search :)
  9. whiteknight

    whiteknight New Member

    Check the places out yourselves

    Hi Nigel,

    Your best bet is to fly into either Alacante or Malaga and rent a car for two weeks and then go look yourself. If you started in Alacante and worked your way down the coast , checking out the resorts like Benidorm, Mar menor, Aguilas, Mojacar, Almeria, Nerja, Malaga, Torremolinos, Benalmadena, Fuengirola, Marbella etc etc all the way down to Gibraltar. You will know the area you like and feel comfortable in and once you have found the place, well the property market is such that you will definatly get a bargain. Remember it is easier to rent out property closer to the beach and in the more busy places. Golf courses are everywhere in the Costa del sol area (40 within a couple of hours) a little fewer and farther between in the more outlying districts.
    If you want any more help then let me know, I visited 6 times in a short period and found the area for me.
    Regards and good hunting
  10. anahidtasha

    anahidtasha New Member

    Me and my family have spend the summer in Torremolinos for the past 16 years and we love it! I think the south coast of Spain has a lot to offer, my parents never get bored, they find it really relaxing and my sisters and I have found we've had different things to do as we've grown up....
    Definitely a must!
  11. viviren

    viviren New Member

    According to the Bank of Spain the property prices have fallen down by 17% since 2007, as compared to a decline of 3.5% in the property price last year the figure has gone up to 4.5% this year.
  12. LaurenX

    LaurenX New Member

    Agree that Costa Blanca north is a great destination, Moraira, Altea, Denia etc Beautiful place
  13. Gene Genie

    Gene Genie New Member

    Is it even wise to consider buying at the moment? Surely with so many properties for sale as people move back to the UK the long term let market is more competitive than ever. Let others risk their capital while you enjoy their hard work!
  14. Dingbat

    Dingbat New Member

    There's the dilemma.

    I see this thread was started a long time ago, but as for the here and now it's hard to take the plunge.

    That said, I think it could be wise to buy now, so long as sufficient research is done regarding pricing levels and that you then find a seller who's ready to make a deal based on the same interpretation of market conditions, i.e. one who sets the price right.

    I would like to buy at this point in time but i see a market with unrealistic expectations with regard to prices. Prices are where they are due to the level of purchases made as an investment vs. for-a-home. If people hadn't seen the opportunity to build equity due to rising prices there wouldn't have been anywhere near as many properties sold over the past decade. I think it'll be a decade or more before people start buying for investment purposes again so i believe the market is going to be flat for a long long time. Not the best time to be leaping in.

    So my interpretation is this. The stupidity began 6 or 7 years ago and prices are now way way above what they will eventually drop to. With a background of tough borrowing conditions, stagnant pay levels, zero interest in property for investment purposes, and many other factors, the only way is down. If i buy i need to be seeing 2004 or earlier levels of pricing.

    My research so far doesn't give me much hope. I have seen some big reductions taking place but still not the sort which will eventually have to be made. At present i haven't found anything which i could go into with confidence that i wouldn't lose a significant amount over the next few years. If i was doing a long term investment then maybe this wouldn't be such an issue, but as i am going to live in it, i need to know i can move it on within a reasonable amount of time if personal circumstances change and i have to move.

    BTW, non of the above applies to the major cities which always have a certain amount of resilience. I am talking about the semi-rural/rural market.
  15. Dave_Velasco

    Dave_Velasco New Member

    Hi. I had not been there in Spain yet, by my friends are telling that Guardamar is a good choice for location. You might check it out if you want. Want to check it out too as well whenever I have time to visit Spain with the whole family.
  16. Carolina32

    Carolina32 New Member

    Valencia inland or Alicante beach

    Hi Nigel:

    I am spanish and I have no house to sell you ; ), I think the best choice for foreign people in Spain is look for a little town to meet familys or couples easier, can go for a walk and practice several sports, have a nice evening in a bar or stay quiet in your terrace looking the landscape.

    The north of Spain is more expensive than the south, people is also diferent, I think like in every country. For my experience I think you will feel warm enviroment at the south but if you go to Andalucia maybe you will not find a british temperament ;). So for me the best place is at the middle of Spain, in Valencia or Alicante.

    I really like the little towns of Alicante coast, like Altea, Calpe, Denia, Alfaz del Pi, you can find a lot of golf courses there and every service you are looking for and there are a lot of foreign people there from UK, Germany, France...

    On the other hand I like Valencia inland because the countryside is gourgeous and the views and lakes or rivers. And normally you can travel really easy to the beach, maybe in 30 minuts you will be. I like towns like Xativa, Ontinyent, Aielo de Malferit... This was a very rich area because they had a lot of industri, so people used to build really nice houses that now are to be sold.

    You should visit this aereas and check it by yourself.

    Best regards,
  17. Paul Rawlines

    Paul Rawlines New Member

    I bought a beautiful villa in Costa Blanca 3 moth ago, 20km from Torrevieja in a small village, the price was really low, now there are many properties for sale, the guy fron the estate agent was really helpfull, I can give you his web site address if you want it. The area has everything you ask for, I am so glad and the weather....20º right now!!
  18. pablosho

    pablosho New Member

    Hi Nigel,

    You don't seem to have come back with any replies to this thread but just incase you are still looking. Why not look towards Cadiz? The unspoilt beaches of the costa de la luz are dotted with pleasant spanish towns.
    You have the pueblos blancos (white villages route), Jerez de la Frontera for flamenco, sherry and Andalusian horses, Seville is just 1 hour from Jerez, the historical port of Cadiz a good micro climate and plenty of good golf courses. Matt Dawson has a property in the Arcos Gardens golf complex!
    I don't know what area of the UK you live but there are 3 airports, Sevilla, Jerez & Gibraltar serving the UK and Malaga is about 90 minutes drive.
    If you need any more info on properties or property rentals in this area, let me know.
  19. rubencito

    rubencito New Member

    Hello Nigel. Look at La Sella golf resort in Denia, Alicante. 10 minutes from the beach. Horse riding, tennis courts, golf...
    I have seen some big price reductions on property there.

    Best regards

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