jackytoo

In some cases the money could even be better in a drawer A friend thought that last year, saw an apartment reduced to 140,000 from 180,000 (was never worth that!). He bought it to rent. Same apartments are now selling (not) at 120,000. Not only has he lost 20,000 in 6 months, he has been unable to rent it and has to pay monthly community fees, taxes etc. He would have been better at even 0.5% for his money.

You sound a if the last few days sun has gone to your head

Can you tell me why "they" didn't let all the large developers know about the 10 year plan, such as Martin Fadesa who lost hundreds of millions

anonimouse

So long as you are happy, that's the main thing, we are all different. Some folk are all talk and full of advice and never chance a single penny and others put their money where their mouth is.

I have always been a bit of a gambler, I will always believe property is your best investment unless you buy from your heart instead of your brain, for instance it's blatantly obvious the CDS is not a place to buy.

I have never been afraid of spending up to a certain amount on an investment, just don't depend on it coming home as quick as you hoped.

So there's no boom up ahead then?

anonimouse

Why did these people buy properties thrown up and not worth half of what they paid?

Fools and their money..........

jimenato

I'm with anonimouse on this.

What d'you reckon - Bilderburgh? Illuminati? Lizard people?

Come on everyone else WAKE UP!!

cricketman

Oh if you wait long enough then probably....

Though smart money is on a Japan-style housing crash. A property in Japan is worth less in 2011 than it was in 1985!

rugbymatt

Its the Lizards..... (spoken in a hushed, strained whisper)

anonimouse

You got it, most think they can make a quick buck over night, in the real world it's not that easy

Kenwoodlad

Please be gentle with me, I'm a newbie.

We've heard of the Great Spanish Property Crash but can't find any evidence in looking at the estate agents' websites. Properties still seem to be in the stratosphere and nothing we like that we can remotely afford. Comparing similar properties here in the UK to Spain, Spain still seems to be on a par with London.

Any pointers to where we can find these supposedly reduced-price properties? Even on recent trips to Spain and looking in estate agents' windows, the prices seem far from crashed.

anonimouse

Thank you,

Always happy to bring a thread back to life

cricketman

Yes you are right, prices are still very high even though there have been large falls on the Costas, although they vary a lot from place to place.

From what people have said on here, the Costa Blanca seems to be the cheapest area on the Coast and I have seen links to 2 bed flats there for only 50k-70k euros. Dont know whether someone would be happy to live in them though. Otherwise, anywhere in-land in Spain and over 1 hours drive from a major city is much cheaper.

Try idealista.es, fotocasa.es, segundamano.es and kyero.es to browse properties for sale/rent

anonimouse

The problem I think you will find is, many of these people have paid astronomical amounts for their properties and even at the reduced price they are still outrageously priced, They bought with their hearts on a sunny day whilst on holiday.

and now have a huge chip on their shoulders

Kenwoodlad

Hi Cricketman.

Thanks for those links, I will go investigate. Alas, the Costa Blanca isn't on our shopping list. Nor is in-land, we do like our little paddle along a nice long beach.

I'm just glad we have plenty of time in which to sort all this out, it's far from straightforward.

I'm right glad (as they say in Sheffield) that we found this website.

Kenwoodlad

I can entirely sympathise with that. I don't know what it was about Spain that entranced us but over the years it has just become the ultimate goal. One way or another, I'm determined to get there.

jackytoo

Anonimouse, I thought you lived in Hungary

anonimouse

I really hope you do.

Don't listen to the experts on here who paid over the odds for their properties and now can only talk of doom and gloom, buy now while they are cheap.

There's many thousands behind you that still have that dream too once the banks slacken up.