Re: COSTA ESURI - AYAMONTE
 

Problem is no one dare give them a YELLOW CARD or they will no doubt claim minority discrimination!

Re: COSTA ESURI - AYAMONTE
 

Hello Fortaleza
As you know, this is something that is happening in all over Spain. When people want to sell their property urgently, as the banks don't give mortgages, they have to bring down the price. Actually, there are a lot of new houses without selling in Madrid, in fact, this is the best time to buy if you have enough money. The price of a lot of things have dropped, not only in housing. The price of cars, for instance, is less now than one year ago. The same happens with the food, e-tickets, hotels, etc....
The situation in Spain is really bad and Andalusia is one of the most affected for the crisis. The number of people without a job is bigger each day, a lot of people are losing their houses due to they can't afford them. The crisis is supposed to last one year, i hope so :(.

Re: COSTA ESURI - AYAMONTE
 

Unless there are 30 months in a year, that may be a forlorn hope Marisol. Something to look at though is that since around 2001, the price increases that Madrid saw were more realistic, so the fall now is not so great as in other areas. Some areas, and more specifically certain types of complexes, saw prices soar to completely ridiculous and unrealistic levels, so they will now fall to the realistic level - but this fall will be much harder.

Property in Madrid will always be valuable. Even in bad times, the true value will be there or there abouts.

In the areas where prices were ridiculously overpriced in the first place, popular with expats and second-home buying Spaniards, they have further to fall. A clear example would be Ayamonte. Back in 2001/2002, before the Anglo invasion, a standard, new 3 bed apartment, probably around 80m2, in a decent barrio would have cost less than 12 million pesetas (around €72,000) and for 'second hand' houses a lot, lot less. Cue the building of fancier houses and apartments in empty land around the town - near the beach (Canela) or the other side of the motorway (Esuri), which were popular with overseas buyers paying then ludicrous prices (but cheap compared to where they peaked), pushed prices up in the whole of Ayamonte - stupidly so. Prices for that same 3 bed apartment in the decent barrio shot to well over €200,000 (I remember seeing one that was quite a number of years old and not in the nicest of barrios on the market about a year ago for €246,000 FFS!!!!)

Agreed, prices should have gone up over six years but that is just unsustainable. That's around 180% more!!!!!!!

Compare that to Madrid where it has always been ridiculously expensive, we were looking in a fairly normal Barrio (Carabanchel) back in 2001, and prices for two bed, used properties in that barrio were generally in the region of 20m-25m pesetas (approx €120,000-€150,000) and we had a quick look when we visited last year and the prices in general were €200,000-€240,000.

This is less than a 70% increase over the same period. Granted, a fair jump but nothing compared to Ayamonte. And I'm sure there are similar examples in areas far more popular with expats and second-homers than Ayamonte where this disparity is far more pronounced.

Re: COSTA ESURI - AYAMONTE
 

Evening,

It's a right heated debate on here. Shouting, politics, economics it's all going on.

When I'm next in Esuri drinking my bottle of plonk around 2 euro a bottle, watching the sun set over Portugal, I'll ask myself "where did it all go wrong?".

I may even have to get a taxi to Ayamonte to try and work it out.

In the meantime I'll keep taking my relaxing, quiet holidays on Esuri and keep lovin it.

Laters.

Re: COSTA ESURI - AYAMONTE
 

Sounds good to me ! :)

Re: COSTA ESURI - AYAMONTE
 

Can I just make the point that this is not peculiar to Spain. The UK is suffering really badly at the moment, particularly in the property market. I have a friend who has just taken a 40% drop in the asking price of his house in a very nice part of London. Truth to tell and without wishing to tempt fate, my property in Esuri has earned me considerably more in rental than the few properties I have in the UK and my Spanish bank balance is looking a lot healthier than my British one. Far from regretting my purchase on Esuri I am thanking the Lord I made the decision to buy a couple of years ago. As Edith said," je ne regrette rien". Apologies if spelling wrong.

Re: COSTA ESURI - AYAMONTE
 

If you are declaring & paying your taxes on your rental income all well & good, but if you are not I wouldn't let everyone know about it.

Re: COSTA ESURI - AYAMONTE
 

Too right, you wouldn`t believe who reads this site. ;-) ;-)

Re: COSTA ESURI - AYAMONTE
 

:D:D:D

Re: COSTA ESURI - AYAMONTE
 

I know the Spanish tax system some times appears medieval but I would have thought with the state of Spains finances aiming to raise taxes from non residents was a good place to start generating extra revenue ?

Re: COSTA ESURI - AYAMONTE
 

Could be actually, as I do know that VERY UNOFFICIALLY authorities aren't being as vigourous as they might be in collecting nationally, with deadlines again unofficially extended.

Re: COSTA ESURI - AYAMONTE
 

Hello jamesf
the crisis, fortunately, doesn't affect to me either. We have a job and we enjoy CE as much as we can. I'm also very happy with the purchase as you are but i declare my solidarity with people who are suffering it and they are really going through a very difficult time.
Of course, i dont mean with this post that you are uncaring, not at all; i just wanted to say how i feel.
Regards :)
marisol

Re: COSTA ESURI - AYAMONTE
 

Nah don't worry.

Not being uncaring, I'm just generally a glass half full person.

My purchase has hit me in the pocket, I've got a number of mortgages that may cause me a problem. On top of that my clients are cutting budgets left right and centre.

However, I think I'll get through it and I don't see how getting myself worried about it will help me.

Just the way I deal with things.

I really do feel for people that are really struggling at the moment. I've just got a feeling that we'll come out the other side.

Re: COSTA ESURI - AYAMONTE
 

Good advice Chris and yes, I am up to date thankfully, otherwise I would never have mentioned it. All I was trying to say that I think there can hardly be a country on the globe that is not effected by this recession and, according to the media, the UK will have the worst in Europe. So much seems to be caused by a lack of confidence and with the banks behaving as they have, who can be surprised. You cannot pick up a newspaper or turn on the news without more doom and gloom.

I have a friend in the States who went for a simple admin job, to be told at the interview they had been inundated by applications from graduates, many with excellent qualifications, there are simply no jobs to be had. Property prices over there have crashed far more than in Spain. Another friend has just returned from Dubai where some have lost almost 80% on their property investments.

So, when I look round Esuri and all that the area has to offer I don't think things are so bad. I hope this isn't sounding smug and I know there are a lot of people hurting but I really do believe we have made a good investment. It's a case of hanging in there and doing all we can to make our Esuri dreams come true - and the wine's good too.

Re: COSTA ESURI - AYAMONTE
 

I'm with James (as usual).

In these terrible times of recession there is no joy to be had to hear of other people who have lost huge sums of money in their investments - property or otherwise. People that sit back 'in their armchairs' and spout on with glee about how other people have lost money, have some major personal problems and inadequecies, I feel. Perhaps they are also looking to 'share' the sadness they feel as their own home(s) (wherever they are) have lost a bunch of money.

We are in arguably a bad position as both the UK and Spain are in big trouble - I believe. The UK with our big debts will be the last major Euro economy to come out of recession (according to IMF) and Spain has 1:6 unemployment - the highest - according to the EU a couple of weeks ago.

I feel no glee that people are losing money - and I am surprised at how deep and dangerous this crisis is. People losing work, pension values and even homes.

At the same time I feel we are very fortunate: To be able to live in a great home in a beautiful 'corner of the world'. We've already had so much fun there. Ive lost more money on some investments - made more on others.... but this is one I can use and have a great time in - rather than looking at a PC screen with, perhaps, a lot of red on it.

Whatever the actual property values are - if we can still maintain and visit 2 homes, in these troubled times, and one is in CE - we are the lucky ones!

End of gospel according to Jon!!