Property sales

[katy]

Gloomy outlook in todays Diario Sur. Writes that people can neither sell or rent their properties. One Spanish agent says 3 years ago they were selling property like churros and now they can take 30 months to sell.

[Midnight Rambler]

Gloomy outlook in todays Diario Sur. Writes that people can neither sell or rent their properties. One Spanish agent says 3 years ago they were selling property like churros and now they can take 30 months to sell.

The house we (my company) bought was apparently for sale for almost 3 years and with seven different agents, mind you the kitchen is a sight to behold the "units" are made from concrete with a curtain pulled across, since coming here I have developed a totally new approach to the word "humour", nice neighbours though, a herd of sheep came across our yard this afternoon!! and the track leading to the house has been widened! fab!

[frank]

Gloomy outlook in todays Diario Sur. Writes that people can neither sell or rent their properties.

Katy, I have to say, I'm not surprised, at some of the prices they are asking. Some of the rentals are crazy prices.

[silver]

Gloomy

for sellers.. They stated on the TV a couple of days ago that next year prices would fall by 20%...that's great news for buyers.
Midnight Rambler

the "units" are made from concrete with a curtain pulled across,

Thats a very typical country kitchen. When I came to Spain..no one owned a tin opener...no need.. as all food was fresh daily...no need for a kitchen full of units either.

since coming here I have developed a totally new approach to the word "humour"

Look on the bright side of life

[sunkissed]

I know of at least 4 inland properties that have been on the market since at least July 2002 and I'm not even in the real estate business.

Many inland sales in recent years were plots of land on which people then built new villas (not allowed anymore0 and the coast was mainly new -off plan developments. The market was never as strong as people thought for resales

[citymike]

Gloomy

for sellers.. They stated on the TV a couple of days ago that next year prices would fall by 20%...that's great news for buyers.

20% is only the start of it. Remember that many of the people buying were "investors" and I think that any new "investors" may get a bit spooked when they see that the market has fallen by 20%. Wait a couple of years until the accepted advice is never buy in Spain and then start looking around.

[ian.wilson]

What`s happening?

Bought a house in Marbella 14 month`s ago the house next door has just last week sold for €40,000 more than we paid. Identical house so house prices are dropping are they?

Also 3 other houses on our Urbanization have sold in January for more than thet were bought. I think it must be location, location, location now in the CDS.

I know a lot of people who have their houses for sale at a price and they will not sell if they don`t get their price, so the houses are not really for sale I think.

Anyway that just whats happened to me and a couple of neighbours recently, saying that we are on the coast not in the sticks where i am sure it is completely diffierent.!

[Susi]

Prices in our small inland village (one hour from the coast) have more than doubled in less than two years and people are still buying.

We have English here who sold a small flat on the CDS and bought a nice house with garden and swimming pool with money left over, so while this is still possible you can see the incentive to move inland (except the fact that it is bloody freezing here at the moment!)

[kevin77]

I think that the market might recover. I've just heard on the news that £50 M is soon to become available in the CDS expat community, from a business venture in Kent. Property and pharmaceutical importation industries may benefit significantly.

[mark]

Kevin...........I would imagine that it is already here There's more dodgy money than this floating around on the CDS!!

[Midnight Rambler]

Midnight has connections who have some Ruandan cash if you know anyone wanting to sell a burger bar pitch.

Can anyone here figure out what the coffin dodger's on about, it's pitiful really that he only hijacks others threads, but then he's incapable of original thought, he likes burgers though!!

As a matter of interest, can anyone here tell me where to find an original (as opposed to an aswer or hijacking of someone elses thread), posting by Morecombe hopes?

[citymike]

So, property prices on the costa del sol are rising!

[pigs-might-fly]

So, property prices on the costa del sol are rising!

NO!

[julian]

property prices are still rising, but at a lower rate than during the last few years

[citymike]

property prices are still rising, but at a lower rate than during the last few years

So property on the costa del sol would appear to be a good investment? I assume that the market is no longer cyclical due to a new paradigm of some sort

[Travelogic]

C'mon Citymike. Less of them big words pal. Can you repeat that in some sort of understandable words por favor?

[citymike]

C'mon Citymike. Less of them big words pal. Can you repeat that in some sort of understandable words por favor?

Well, when a market is at the peak people usually explain that it will continue to rise because we are in a new paradigm, in this case an era of low inflation. I believe that, because of low inflation, the capital that people have borrowed to buy their properties will not be reduced in real terms due to inflation and they will be paying off a heavy loan for a long time and therefore very vulnerable to any economic shocks over the next 10 to 15 years. The high street slowdown in the UK is evidence that people have overspent there and we know that 40% of property buyers in Spain are from the UK.

Or to put it a little more bluntly, the Spanish property market is screwed.

[ian.wilson]

In the long term have you ever seen property lose money?

[Bongtrees]

The high street slowdown in the UK is evidence that people have overspent there and we know that 40% of property buyers in Spain are from the UK.

Or to put it a little more bluntly, the Spanish property market is screwed.

Where do you get the 40% figure from?

[spanish hopes]

Probably not Ian, in the long term. The problem at present is the number of people who were conned into buying off plan sometimes more than one property thinking they would make a killing by selling on their option to buy before the second or third stage payment was due. They are now finding themselves in a mess, with a lot of debt. they were looking for short term rewards which are now very rare.