antonio_dpo

We live in Madrid and have been looking to buy a house for the last six months.We have seen a few properties and bits of land to maybe build on but after learning a bit about the process of buying I´m absolutely terrified to take the plunge.Can anyone reassure or terrify me more. :scared:

Loco

You will find an independant guide at www.spanishpropertyinsight.com.

Regards
Loco

antonio_dpo

Thanks for the reply Loco.
I have checked out the website and all the info points to not buying in Spain at the moment,I think I will leave it for a while and wait for the bubble to burst.
Saludos.

coralsoft

Whereabouts are you looking? I live just off the A6 N-W of Madrid.

Yes, prices are high and have been going up for ages. Though people are astounded, they seem accepting that prices will continue to go up. I've not heard anyone predicting problems or giving indications of poor sales on the many new developments going up all over the place, but depending upon your circumstances, you may still be wise to hold off, particularly if buying now at current prices would stretch your resources.

Are you prepared to hold off for what could be well over 2 years until any falls are complete, though? Once falls had been noticed, it took that long in London during the 1989/92 property crash, to drop from the peak to a point where it started climbing again. It took another 3-6 years for other parts of the UK to turn around, so don't expect a serious price correction to complete here in < 1 year.

antonio_dpo

Hello again loco
We must live quite close as I am to the NW OF Madrid too,Galapagar.
I can hold off for quite a while but meanwhile I willl be thinking of other countries too.
Saludos

coralsoft

Galapagar is quite a way out, but a lovely area. We lived in the Los Arroyos urbanizacion for 6 months back in 2001 and still pass through to go to El Escorial or up the A6 to get to the mountains. You're still looking at upwards of 200,000 EUR around that area, with houses from 450K upwards. Alpedrete, Torrelodones, El Escorial all seem about the same level, but Guadarrama might be a bit cheaper and Villalba might have more available at the lower end.

Once you get into Las Roza, Majadahonda and Pozuelo, prices head upwards sharply, though the towns have got good facilities.

Those A6 roadworks are a nightmare at the moment, with narrow lanes, sudden lane switches and fast moving heavy traffic. It's a wonder there aren't more serious accidents. We almost got hit by someone that carried straight on when the lanes switched to the right suddenly (signage is nonsensical), so last time we came back from Segovia, we went through Galapagar and down the pass to Las Rozas.

antonio_dpo

The prices of houses around Galapagar are too expensive for us,we have been looking at Los Angeles de San Rafael and there are possibilities there but as I said I´m in no hurry,though I am fed up of paying rent.
It´s true the roads are a nightmare,I hired a car last weekend to go and see a couple of plots of land,the car was in the garage 2 out of the 3 days I hired it.
Cheers