dougie V

I just wanted to post this thread to see what peoples views were on property prices at the moment in spain **** feb - 05 *****
personaly i think they are riding on the high side, with alot of property available on the market at high prices and not much movement going on, but i would like to see what other people thought of the property market.

All New

I am new to all this, but hope one day to have little house in Spain for my family. I do worry about how much building is actually taking place, and if the is a collapse in economy what would the fall out be. Spanish without work, would it leave us with what we witnessed in Wales a few years ago.

sunnydays

Think the popular coastal places will not loose their attraction for retirees of colder climatic countries and the property values will continue to rise albeit slower than recent years. £150 now is the norm for a 3 bed nice house in a popular town. The grand Euro club and cheap flight airline companies makes relocating very easy.
Unfornately the young local first time buyers will find it difficult and will have to move/commute further inland where property prices are lower.
But properties inland still hold attraction for foreigners because of the value for money and more economic life styles compared to their colder northern homes, so competition and of course values will rise as the coast.

meseta

I understand that Malaga airport saw a 16% increase in pasenger numbers this jan compared to last. Forecasts are giving an increase from the current 11,000,000 a year to some 17,000,000 over the next 5 years. Simple mathematics dictate that even the current frenzied building on the Costa del Sol will not be able to cope. I can't speak for other areas of Spain.
I think the prices will, at least in this part of the world, continue to increase, partuicularly inland.

ScotinSpain

Totally agree with you sunnydays. The days of 20-30% annual hikes in property prices are over, thus buying PROPERTY FOR SHORT TERM INVESTMENT is probably over. However there is no CRASH, and the returns are still better than the stock market if you can afford to get in for starters. I have just returned from a short trip to UK and there are plenty of folk still wanting to move out due to the cheeper cost of living and easier pace of life out here. A dip in the speed of escalating house prices will help them.

As an added bonus, the current climate will shake out many of the 'get rich quick' estate agents who have been ripping off northern Europeans for decades , so it's not all bad news..........

All New

Could someone give an opinion on the Costa de la luz, It seems to be getting popular I will prefer an opinion from a visitor to area, not home owners. (Looking for an independent opinion here)

jdr

You get me all the 3 bed nice houses in Spain for 150 quid each and i will buy them off you for 300 each.

meseta

i bid 160 ................ ( each ! )...........

sunnydays

Woops... fancy me missing the "K" I eat enough of the "Special".....

All New

I Have seen posted on one these threads, people quoting that land purchased less than twelve months ago for 120euros a foot is now 180 to 200euros. Could be a meter or yard, it makes no difference. This represents an increase of 50 to 66%. Do you think this is over excitement, a plot by some developer under cover, or correct?

sunnydays

Difficult to say, at the end of the day its location location and "market forces" as they say. A 3 bed townhouse (unifamiar) with front and roof terraces would stand on say 100 sq mtres. If prices had risen on the land to what you suggest that would make an increase in the value of the whole property of around £10,000. (property street price £150K)
Owners sell to the highest bidder naturally, and the life style will draw plenty of buyers. Other aspects such as close to shops and beach will also effect prices......orses'fe'courses.
Not much help sorry.

jaldridge

Through our business we have noticed that there is a lot of choice so you can certainly be fussy. This applies particularly to the huge number of off plan properties coming onto the market, as investors try to sell them before completion. Most of them are unable to realise the huge profits they were expecting.

So if you shop around you can pick up some good deals from investors trying to sell quickly.

Generally prices seem to be levelling off now here in Costa del Sol. The rate of increase has very definitely slowed.