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Are rental prices dropping?

Are rental prices dropping?

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Old Mar 12th 2009, 2:19 pm
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Default Are rental prices dropping?

We may decide to rent somewhere at or near the coast (CdeS) to make it possible for littl'un to move school..... reluctant to sell our house even if anywhere were selling at the moment and given the market, were assuming prices advertised for longish term rent (say either 9 month at a time or a couple of years, we're not really sure yet) would be dropping. That's not apparent simply from looking at agents' windows; what is anyone else's experience, is everything negotiable or are owners holding out for the rents they want?
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Old Mar 12th 2009, 2:36 pm
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Default Re: Are rental prices dropping?

Originally Posted by fionamw
We may decide to rent somewhere at or near the coast (CdeS) to make it possible for littl'un to move school..... reluctant to sell our house even if anywhere were selling at the moment and given the market, were assuming prices advertised for longish term rent (say either 9 month at a time or a couple of years, we're not really sure yet) would be dropping. That's not apparent simply from looking at agents' windows; what is anyone else's experience, is everything negotiable or are owners holding out for the rents they want?
We have been here a while and pay 600€`s, the people that own one near us struggled to get 550€`s even after putting in a new Kitchen and Bathroom , so it looks like there are bargains about..
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Old Mar 12th 2009, 2:42 pm
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Default Re: Are rental prices dropping?

Originally Posted by jdr
We have been here a while and pay 600€`s, the people that own one near us struggled to get 550€`s even after putting in a new Kitchen and Bathroom , so it looks like there are bargains about..
Thanks.... is it VERY location-specific; ie if we opted to be virtually beachfront does that have the obvious premium to pay or are all owners a bit strapped for tenants? ditto near a school, etc?.... oh and is it actually the case that larger properties cost more? (may sound stupid, but I've heard that since not everyone wants big places they can be harder to shift)
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Old Mar 12th 2009, 3:05 pm
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Default Re: Are rental prices dropping?

Rental prices are dropping. I`m in Andalucia, in my opinion and from what I´ve seen recently, British property owners who live in the UK seem, at the moment ok to drop cos the exchange rate is in their favour. Spanish landlords are a little more hesitant and not all of them seem to have got the jist that if their property sits empty for any length of time they lose money and its better to be getting a steady but lower rent in than none at all for any period of time.

Its certainly a good idea to negotiate any rental prices these days

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Old Mar 12th 2009, 3:06 pm
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Default Re: Are rental prices dropping?

If those two in your avatar live with you, your bigger problem might be finding an owner that is willing to let to tenants with pets. It is possible, but limits your choices even more.
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Old Mar 12th 2009, 3:22 pm
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Default Re: Are rental prices dropping?

Originally Posted by AdrianTO
If those two in your avatar live with you, your bigger problem might be finding an owner that is willing to let to tenants with pets. It is possible, but limits your choices even more.

Hmm..... actually it's now 3, a Spanish mutt & 2 siamese! I've got grave doubts about having an apartment myself, would rather find somewhere maybe a small house away from the coast (so more likely to be pet-possible?) but just much nearer than we currently are - it's OH who has always wanted to be right by the med. 45 mins is too far, apparently!
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Old Mar 13th 2009, 12:04 pm
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Default Re: Are rental prices dropping?

Rental Prices are dropping quite considerably in my area Northern Costa Blanca.

We have had our rent reduced from 550 to 500, but still we could move 2 doors up and only pay 450 for the same type of apartment.

If you are currently renting I would look around to see what the current prices are and request a reduction from your landlord. They probably won't be able to rent it to anyone else!

I personally think the long term rental market is suffering as much as the sales market, there is a glut of properties to rent and no new arrivals from the UK to rent them prior to buying.
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Old Mar 13th 2009, 12:30 pm
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Default Re: Are rental prices dropping?

a lot will depend on the landlords circumstances, ie do they HAVE to rent so find yourself someone is is quite desperate and you could bag a bargain !
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Old Mar 13th 2009, 8:16 pm
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Default Re: Are rental prices dropping?

My friends who rent out a village home near Comillas (on the northern coast) have told me they would love to reduce the advertised rate, but daren't as they would be seen as letting the side down by others in the village (they also live in that same village). I suppose it's bit like being seen as a "scab" or strike-breaker. So, they're always amenable to private negotiation (apart from the main July-Sept season when they're guaranteed full payers from Madrid), but won't advertise this. I suspect this will be the case in a lot of locations, so always try the negotiation route first.
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