BBC1 News at 10, tonight

[hillybilly]

Report by Brian Hanrahan on the BBC News at Ten, BBC1 on Wednesday 14 May (tonight) re the plight of expats on the Costa del Sol affected by falling property prices.

[Jool]

Also an article on BBC website about this today...

http://news.bbc.co.uk/1/hi/business/7400846.stm

makes very depressing reading........

[mirandamac]

Everyone we talk to at the moment, about our plans to move to Spain, says something like "ooh be careful, they'll knock your house down" or "it's really bad there isn't it" & then they go on to quote something on tele or in the papers. It's the big problem of house prices falling partly because everyone is saying they are, or are going to!
And then of course the more that the media reports things like that, the less people will want to buy so prices do fall. It's not putting us off though.

[Cassandra]

The upside, and there is one, is that you will be buying at or close to the bottom of the market, so as long as you stay a few years (and don't buy a new build!) then things should work out OK for you.

Even for those of us selling now it's not all bad. If you're moving within Spain then whatever you buy will also be at a lower price and if you're moving back to the UK the current exchange rate is very beneficial. The only people really stuck are those in negative equity because of a mortgage and that can happen anywhere if you bought at the top of the market.

[mirandamac]

Very true Cassandra - we're also in the position where we want to sell the house we have here and the market isn't good. But now we've decided we're going to buy something smaller here, and keep it when we finally move, it's not quite so important as whatever we want to buy will be cheaper as well. Probably not as much difference in the 'drop' but it's just one of those things. We don't want a new property over there anyway (well, we might have considered one but will avoid definitely now thank you!). And yes, for those coming back to the UK at least the exchange rate is favourable. We have to look on the bright side whatever we're doing!!!

[julian]

I didn´t see the programme, what is the problem with new builds?

[Cassandra]

I was being slightly tongue in cheek there. I'm sure there are plenty of perfectly legal new builds with all paperwork in order and with licences correctly issued so as long as you take ultra care in your choice of solicitor or legal advisor then all will be well.

There are areas though, and Almeria is one of them, where a lot of development has been done on proposed (and quite ridiculous) PGOU's and the Junta is now declaring the properties illegal. Very tough times for those caught up in it as even those who may eventually have their houses declared legal are in limbo at the moment and finding it extra difficult to sell, if they can even find an agent willing to market their house.

[Lavanda]

It's not all sweetness and light inland (OK so I'm in Extremadura) either. We have a cedula urbanistica signed by our mayor with dates and stamps to say we can build on our land. The junta agree. Now, the ayuntamiento have decided that we cannot build. The reason? Clerical error. Had we known that we cold not build we would not have bought the land. So, beware. Even if the ayuntamiento in your area tells you that you can build, it ain't necessarily so.

[Grouser]

Julian, lots of them and no customers.

[julian]

isn´t that a perfect situation for someone looking to buy? sounds ideal to me. I´d rather it that way if I was buying rather than few of them and lots of customers.