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34% of ex pats want to sell up??

34% of ex pats want to sell up??

Old May 21st 2012, 11:43 am
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Default Re: 34% of ex pats want to sell up??

It's probably wrong to assume that all owners of expat homes for sale, wish to return to Blighty.

Quite a few up sticks and move to another area for quite a variety of reasons, too quiet, too noisy, too hot, too cold, bad neighbours, dodgy neighbourhood etc,etc. whilst others may be in a position to take advantage of a bargain somewhere else, whilst leaving their old property unoccupied and on the market.

I did much the same myself when I moved to my present location.
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Old May 21st 2012, 11:58 am
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Default Re: 34% of ex pats want to sell up??

Well yes that's true. I know a lot that are wanting to sell but not just happened. I think the figure is probably not far off the mark as there is a backlog. I know many who have been trying to sell for at least 3 years so the figure is accumilating all the time. Not just Brits though, lot of Germans trying to sell on the coast.
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Old May 21st 2012, 12:32 pm
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Default Re: 34% of ex pats want to sell up??

According to this well-informed site, foreign investment in Spanish real estate actually rose 27% in 2011!

http://www.spanishpropertyinsight.co...-27pc-in-2011/

Of course the percentage increase is high because it comes after a poor year previously.
Very hard to see what the figures will be for 2012. Yes, there will be some tempted by lower prices, desperate sellers, and (for those buyers outside the Euro-zone) better exchange rates. Plus, if you fear your money in a bank isn't safe, why not put it into a solid asset? But given a lot of countries are near to recession, and given current economic and Euro-zone uncertainty, there may be a lot fewer people willing to put serious money into buying Spanish property.
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Old May 21st 2012, 1:08 pm
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Default Re: 34% of ex pats want to sell up??

Originally Posted by Dick Dasterdly
Absolute cobblers.

Maybe we should do our own little survey and see how it compares with theirs.
Good idea, do you expect the truth ??

IME surveys seem to be made up of weighted questions biased towards what someone has already written. Otherwise the answers given are not a true reflection of what people will actually do.

all a load of zapatero's
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Old May 21st 2012, 1:10 pm
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Default Re: 34% of ex pats want to sell up??

ISTR a number of expats here have said (so it must be true) they are renting not owning - for various reasons.
So where do they come into the scheme of things when it comes to surveys. Aren't they allowed to go home, or do they just sneak off without telling anyone ?
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Old May 21st 2012, 1:20 pm
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Default Re: 34% of ex pats want to sell up??

they just sneak off without telling the landlord
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Old May 21st 2012, 1:29 pm
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Default Re: 34% of ex pats want to sell up??

so nothing different to tenants in the UK then
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Old May 21st 2012, 3:13 pm
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Default Re: 34% of ex pats want to sell up??

This is only the personal observation of a long-time resident, but I have noticed more people returning home than before the recession of 2007/8.

It seems to me that people who bought in haste during the boom years prior to the recession, subsequently found that Spain wasn't for them, for many reasons, but seeing the value of their newly bought homes crumble could have been the final straw.

Spanish house prices have fallen for five years in a row now, with no recovery in sight, and it's something British people find hard to understand, we are used to rising property prices, despite the odd, short recession back home.

And many expats find it uncomfortable to live with Spanish neighbours, one in three of them now unemployed. When I walk my dog in the morning, I used to pass the elderly Spanish parents walking theirs, now their children are doing the dog-walking, because they're on the dole.
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Old May 21st 2012, 3:37 pm
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Default Re: 34% of ex pats want to sell up??

Originally Posted by HBG
Spanish house prices have fallen for five years in a row now, with no recovery in sight, and it's something British people find hard to understand, we are used to rising property prices, despite the odd, short recession back home.

.
Actually Spanish houses have only fallen about 20% from peak. If you look across the entire country. This is pretty much the same as in the UK

The problem is that most Brits live in the areas with the highest price falls. I've mentioned before that I know someone who had their house up for sale at 650k 3 years ago who has reduced to 395k on the CDS. Well, now they have it up at 295k!
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Old May 21st 2012, 5:09 pm
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Default Re: 34% of ex pats want to sell up??

Originally Posted by cricketman
Actually Spanish houses have only fallen about 20% from peak. If you look across the entire country. This is pretty much the same as in the UK

The problem is that most Brits live in the areas with the highest price falls. I've mentioned before that I know someone who had their house up for sale at 650k 3 years ago who has reduced to 395k on the CDS. Well, now they have it up at 295k!

Where do you get this tosh?

The agents that I speak to (Spanish) tell a completely different story! - and no, I don't live in "brit ville" but in the countryside with only Spanish as neighbours.


It may well be that the Spanish (generally) find it hard to reduce their prices, but those properties that are selling have been reduced by a LOT more than 20%
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Old May 21st 2012, 5:18 pm
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Default Re: 34% of ex pats want to sell up??

Originally Posted by snikpoh
Where do you get this tosh?

The agents that I speak to (Spanish) tell a completely different story! - and no, I don't live in "brit ville" but in the countryside with only Spanish as neighbours.


It may well be that the Spanish (generally) find it hard to reduce their prices, but those properties that are selling have been reduced by a LOT more than 20%
From all kinds of sources, usually Spanish newspapers and property sites. Idealista has some good data. You can see the reduction from peak here:

http://www.idealista.com/news/indicevivienda

You need to remember that Valencia and Malaga (provincies not cities) have the highest stock of unsold properties in the country and are also the areas where prices have gone down the most. 50% or more in some cases

But as you will know, most property sold in Spain is in the cities. Prices in Barcelona, Madrid, Bilbao and San Sebastian have been holding up (relatively), maybe a 10-15% drop since peak
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Old May 21st 2012, 6:26 pm
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Default Re: 34% of ex pats want to sell up??

Originally Posted by snikpoh
Where do you get this tosh?

The agents that I speak to (Spanish) tell a completely different story! - and no, I don't live in "brit ville" but in the countryside with only Spanish as neighbours.


It may well be that the Spanish (generally) find it hard to reduce their prices, but those properties that are selling have been reduced by a LOT more than 20%

....the good thing about living in a predominantly Spanish area is the houses were far cheaper to buy to begin with, not only that if it had to be sold a Spanish person might want to buy it. 20% drop of a small price is far less in money than 20% drop of a high price.
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Old May 21st 2012, 6:58 pm
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Default Re: 34% of ex pats want to sell up??

Originally Posted by casa del sol
....the good thing about living in a predominantly Spanish area is the houses were far cheaper to buy to begin with, not only that if it had to be sold a Spanish person might want to buy it. 20% drop of a small price is far less in money than 20% drop of a high price.
Generally the places with high number of foreigners have lower house prices. e.g. the Valencia and Alicante region where house prices are the some of the lowest in the whole of Spain. Even the CDS is relatively cheap compared to similarly urbanised areas in the North (Bilbao - San Sebastian stretch or the Gijon, Aviles, Oviedo triangle)

Higher house prices are found where people want to live and there is limited land i.e. the cities. Very few British expats live in the cities, but over 80% of Spaniards do

It is often the poor and less educated Spaniards who are "left behind" and dont make it to the cities

Hopefully with the crisis we will see people leave the cities and start to provide life and economy back to some of the villages
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Old May 21st 2012, 7:08 pm
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Default Re: 34% of ex pats want to sell up??

Originally Posted by casa del sol
....the good thing about living in a predominantly Spanish area is the houses were far cheaper to buy to begin with, not only that if it had to be sold a Spanish person might want to buy it. 20% drop of a small price is far less in money than 20% drop of a high price.
That's a good point. I live in a predominantly Spanish area and there were hardly any expats here at all when I moved in.
The price difference compared to a typical expat region at that time was phenomenal !
I wouldn't even have got anything similar 100kms South at twice the price and I'd been trying hard enough and for long enough.

Most transactions back then were Spanish to Spanish with privately agreed sales.
However within a year of my moving here, quite a few expats had cottoned on to it, prices had doubled and estate agents were sprouting up all over the place looking for a piece of the action.

It's still predominantly Spanish and I still have no expats close to me, however those that moved into the general area in later years and paid top whack were not so lucky and quite a few found themselves struggling with negative equity, once the recession set in.
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Old May 21st 2012, 7:33 pm
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Default Re: 34% of ex pats want to sell up??

Originally Posted by casa del sol
....the good thing about living in a predominantly Spanish area is the houses were far cheaper to buy to begin with, not only that if it had to be sold a Spanish person might want to buy it. 20% drop of a small price is far less in money than 20% drop of a high price.
Are you sure about that. I always found that the Brits buying from the spanish were ripped off big time The only sellers who can drop loads are the ones who bought before 2002.
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