im a bit concerned
 

ivan and his rantings about how 'the bubbles going to burst ' in spain with property prices etc..

now i wanted to buy to rent as i think i could fill it the majority of the year.

so whats the crack should i hold out , are prices going up or down ?

im going to javea in july so i can see my 2 weeks are going to be filled up with 'patch's fact finding mission' :eek:

Re: im a bit concerned
 

Martha's the one with the crystal ball ;)

P.s. Welcome to the site Simon.

Re: im a bit concerned
 

People have been saying for so long that the bubble is about to burst, in fact theres a thread on here about not buying property in spain unless you want to lose a lot of money.

Theres people on here that have tried making offers which haven't been accepted. When you think about it logically there should be over demand, and there seem to be places for sale for ages, but its not effected prices around here seemingly.

Re: im a bit concerned
 

Hi patch72 and welcome to the forum.

I think you should definitely come and look at properties in July BUT for heavens sake do not put your hand in your pocket! Return after the summer, ie Oct or Nov time and look at properties that attracted you first time around and then make an offer! Most of them will still be there.

Properties have started to go stale from being on the market for so long.....Javea included....but the estate agents are holding tight for this summer as it's usually when they make a killing. I think once this summer is over, they will be wanting to get rid of a few properties and will accept lower offers (the owners will be feeling the same). So if you can hold out till after the holiday season, I think you will get a better price all around.

As for renting it out, you must know that there is big competition and alot of holiday rental properties out there competing with one another. It's a good income if you can get it, but it's not guaranteed, so keep that in mind too.

Best of luck
Martha

P.S. My crystal ball has spoken :rofl: :p

Re: im a bit concerned
 

She's good isn't she :p :cool:

Re: im a bit concerned
 

what everyone else said......and no, I don't think you've any chance of filling a house most of the year, unless you want to do long term rentals, in which case you probably won't be able to charge enough to cover the mortgage (that is unless you won't have a mortgage!)

Re: im a bit concerned
 

have a look at rental sites - they will give you an indication on whether places are rented or not

I was going to do the same, found a nice place on a golf course - then I looked at holiday-rentals.co.uk and it changed my mind once I saw how many other places there were, none of them booked out apart from the odd week here and there

so now I am going to wait and see what happens - dont think there will be a crash in the market but perhaps not a good time to buy to rent out unless you can afford to have the money tied up with no guarantee of a return from rentals

Re: im a bit concerned
 

thanks for the warm welcome :D

advice taken onboard and i will wait til the end of the year , i wanted something i could own out there until we are ready to move maybe a few years (or sonner if i had my way) down the line, so renting would be a big part until then.

my friend has finaly sold his place in 'orridvieja' (no offence) which took an awful long time to sell (and after going out there i can see why , i just dont want to end up in a area that is going to end up like that .
and also after asking for a spanish dish (in the best attempt of spanish i could do ) i was the asked by said waiter (in a broad cockney accent) 'do you want chips with that mate' :thumbsup: :thumbsup: .

Re: im a bit concerned
 

As somebody whos moving to spain in 2 weeks and renting intiailly then if alls going well buying.. Id love to see property prices drop. Some of the rents on the costa del sol are ridiculous. Ive seen people wanting 600€ per month long term for a studio in a high rise. Im currently renting a 2 bedroomed semi with garage, driveway etc for less than that in the UK. Seems so unrealistic.

Re: im a bit concerned
 

Location, location, location. lol

Re: im a bit concerned
 

ditto, ditto, ditto! ;)

Re: im a bit concerned
 

:eek:
you are lucky to be paying that in the UK...is it in scumsville ?..most one roomed appartments round our way are 500 min...525 where my cellmate lives...:eek:

Re: im a bit concerned
 

If you are talking about the "don't buy in Spain........!" thread then don't worry too much, that thread started when god was a boy and the prophets of doom are long over due a result so no worries.

Re: im a bit concerned
 

all true...........but it doesn't alter the fact that in Javea, where he is going, the sales market is slow to dead, and so is the holiday rental market......not that no-one comes here, just that there is too much available

Re: im a bit concerned
 

Very true, and more building and more promises of easy rental doesn`t help.
Have a look at the places for sale and rent in Thesurinenglish.