jogger

Hi

I'm seriously considering retiring early so me and my Mrs can enjoy a bit of life while still youngish enough. I have read on some posts here that property prices are really coming down and the prices being asked are not anything like the bought price. I would be looking at a house in the Granada region, small house about 130,000 e if that is the asking price, what would be a realistic bought / cash price. I know this is a difficult question but if someone could give me an idea, it would be much appreciated.

Thanks
Roy

Rosemary

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If the house is owned by a Spanish person there is very little chance of paying less than the asking price because they do not tend to encourage offers being made. If owned by a foreigner who wants to return to their home country there is a better chance of a reduced price.

Please let me know if you need any further help.

Rosemary

amideislas

I can't speak for Granda, but in general our experience is that while you can negotiate with cash, having cash can be interpreted as "easy money" for the seller and their agent, so many will stand firm on a higher price and play coy with you until you give it up, assuming that you will be impatient with cash in hand.

We've seen some people get results - by keeping control of the same game in reverse - with the seller. Be Patient, don't tell them whether you have cash or not, keep going back, but always with the message that the price is too high. If you read the signs right, the seller eventually gives in. They need the money.

The drawback is that this can take a lot of time, and is the reason why mant people will advise to come and rent for a couple years before buying. Look around, don't be in a hurry. It might take you that long before you find what you want.

fionamw

Maybe more importantly, consider trawling the various threads which have covered househunting whether purchase/renting, over the past year-plus. The overriding view, as I read it, is PLEASE consider renting first and possibly only renting. Lots of reasons some of which I'll forget if I try to list them but they're fairly persuasive reasons if you look into it.

TheLostPhotographer

The 'Granada' region is very diverse price wise. The coast is always going to be more expensive. The Apuljarras (my spelling?) are to trendy to be affordable for most now. Granada city itself is very affordable if you don't want the fashionable areas. Other rural areas have no local economy and prices are plummeting.

My first advice would be to rent for a year. €250/month gets a very nice place. Take your time and explore the entire province for a year, or more. That could prove to be the best €3,000 you spend!

There are vast numbers of empty properties and illegal builds in the provence of Granada. Be very careful. Many areas went through a speculation bubble that was beyond belief. Around Baza and Guadix 'real' prices are now similar to what they were 10 years ago. The prices in these places should never have risen to the extent they did. The winters on the Alto Plano, or high plane are hard and expensive. There is no local economy worth mentioning.

On top of crisis, Andalucia has just gone through a very dry, and exceptionally cold winter. Crops have failed which means far less seasonal work and another punch in the guts for the local economy. The reality is that inland Andalucia is a poor region. the -real- property prices reflect this.

Examples:
1 bed town centre, new build flat in Granada was around €130,000 2 years ago, now €80,000 to €90,000.

Derelict houses in the countryside with land were fetching stupid money. You can now buy from €16,000 with water and supplies connected.

Come and live here for a year on a rent. Seriously, it will be the best money you ever spend in Andalucia. You need to learn much before buying.

It is a lovely place to live once you make friends.

jogger

Thank you all for the advice so far, it has been valuable. TLP your post especially was helpful and is indeed a great idea. Having just read it out to my wife we were both in agreement as in that is what we will do. Rent for a year and tour the region.We are looking for semi rural house with a bit of land, not to far from a big town with decent medical facilaties (just in case). We want to live a bit of the good life, bit of cycling, jogging and walking etc. Is there much problems with crime in the region as there is in the UK it seems to have increased with the downturn.

fionamw

I'd worry less about crime - that happens everywhere, the world over, in variable ways the world over.......... and concern yourself more about not assuming that a property is legal unless you've seen the FULL paperwork and a kosher independent lawyer has too. TLP's post was indeed helpful but seeing that you can buy a rundown place with land might not necessarily be the best option longer term. It might, of course. But not definitely.

TheLostPhotographer

Happily, crime is still a rare thing compared to the UK. It is extremely safe here in all respects.

There are some really nice new builds on the outskirts of Granada. Beautiful views with rural community living, and within easy reach of 24 hour convenience. I would highly recommend a good explore of villages on all sides of the city. Granada itself is also a beautiful place. Again very safe with hiking and cycling routes through stunning countryside.

Winters here are short, but chilly. Rarely drops below freezing (last winter was an exception). Summers can be hot. Expect mid 40º Centigrade in July and August. It is a dry heat mind, comfortable doing nothing in the shade.

You will need to learn a bit of Spanish. Plenty of English speakers, but the locals everywhere appreciate and respect your efforts.

Rotor

I guess you dont read Spanish newspapers?

lynnxa

funnily enough I was talking to someone today - his wife wants to 'go home' but he's having none of it, mainly because he wants a lot more for his property than he has any chance of getting

he reckons that until fairly recently (a couple of years ago maybe) it was worth about 600,000€

at the 'peak' he paid 400,000€ & says he has spent about 200,000€ on it & refuses to take a loss

in today's market he'd be lucky to get 300,000€ for it............. I wonder if he'll win or his wife will???

jogger

Spanish is high on the agenda, I have Rosetta Stone CD to start with, it sounds like the place we are looking to retire to.

pwwm

I disagree with prices in la alpujarra, they have dropped hugely and where I am in the foothills of La Contraviesa leading to la alpujarra there are many affordable houses, but Granada is a province not just a city so when you say Granada where actualy within the province are you thinking?

We have been hee for nine years and dont regret the choice one bit, Why dont you do the free BBC language courses? personally think better than RS.

Good luck in your search

HBG

You would not believe how many people I know in the same position. Often one of the partners hang on in the forlorn hope that their house will sell for what they believe it's worth, especially if they have worked hard and spent a lot of money to get it just how they wanted it.

And then one of them falls out of love with the house, the country, and I suspect with their stubborn partner as well.

I see the ones left behind on a daily basis, often staring into a brandy glass not long after the sun has come up.

It's hard for them (and for me), we are used to house prices always rising in the UK, always, without fail, over many years. It was the same in Spain, until around five years ago. It's hard to live with what's happened since then.

Luckily, there's no sign of it (yet?), but my wife and I are not very different to the people we see daily.

jimenato

I'm just very (seriously!) glad we never bought a house here. We can cut and run any time we want. I just don't want to. She might sometime

82mph

TLP, I'm not doubting you, but where are your prices coming from? I try to keep half an eye on property prices in and (immediately) around Granada but very rarely see things as cheap as those referenced...

OP, I would definitely second TLP's advice too. My opinion of living out here changed drastically almost every month during the first 18 that we were here.
And crimewise, Granada is as safe a place as I've ever set foot in.