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Costa del Sol - Property market advice pls.

Costa del Sol - Property market advice pls.

Old Jan 13th 2005, 5:02 pm
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Default Costa del Sol - Property market advice pls.

I am planning to move to the Costa del Sol in about 6 months time. Can anyone who is already there maybe give me some info regarding the property market in that aera at the moment - up, down, static etc.

An estate agent that I've contacted is telling me that things are red hot and I should buy straight away as prices are going up fast. However I know that EA's always say that sort of thing to potential buyers and I was wondering if I might do better renting first.

Thanks a lot.
JohnA
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Old Jan 14th 2005, 8:07 am
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Default Re: Costa del Sol - Property market advice pls.

Originally Posted by JonA
I am planning to move to the Costa del Sol in about 6 months time. Can anyone who is already there maybe give me some info regarding the property market in that aera at the moment - up, down, static etc.

An estate agent that I've contacted is telling me that things are red hot and I should buy straight away as prices are going up fast. However I know that EA's always say that sort of thing to potential buyers and I was wondering if I might do better renting first.

Thanks a lot.
JohnA
Hi John,

You hit the nail on the head, rent for a while in the area(s) of your choice and watch the property market very carefully. The days of 20% plus annual property price increases are long gone, there is currently far too much property being built and A VAST number of 'off-plan' properties reaching the final payment stage and up for 'resale' flooding the market at the moment. No wonder the EA asked you to by NOW, their books are fill of properties thay can't shift. Prices will not slump, but they are very steady and most certainly NOT red hot. Read any thread on this, and other, MBs about EAs and you will see a sorry story of lies and misleading advice, particularly the larger UK owned ones (see recent UK Sunday papers for some horror stories!).

Take your time, try Spanish EAs (most speak some English) as they know the ups and downs in the market over decades and have a name to retain for the future. You can also try buying directly from the owner, as all EA charges are higher in Spain than UK, but you may need some help here. Get a good solicitor, NOT the one recommended by the EAs.

If you are buying as an invetment, you may well want to look elsewhere (new Europe?) as the Spanish Market has had the HIGH GROWTH period and has settled down.

Best of luck in your quest, most find the CdS a great place to own in, although it's not for everyone, particularly with young children, as you'll find out in this MB!
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Old Jan 14th 2005, 9:39 am
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Default Re: Costa del Sol - Property market advice pls.

Originally Posted by ScotinSpain
Hi John,

You hit the nail on the head, rent for a while in the area(s) of your choice and watch the property market very carefully.....................

Best of luck in your quest, most find the CdS a great place to own in, although it's not for everyone, particularly with young children, as you'll find out in this MB!
Thanks very much for the info and advice - I think now definately rent 1st, and have a good look round.

Cheers,
John
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Old Jan 14th 2005, 4:58 pm
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Default Re: Costa del Sol - Property market advice pls.

Take Scots advice on this...
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