Re: Thinking of buying in Torrevieja
 

Its funny you know, we go through different stages, when to buy when not to, where is the market low?? Cyprus has shown clearly that there is no guarantee of safety for our money in a bank! I would have thought anyone with over 100,000 in a bank would be better investing that either in a home they can use in Spain, or a property to rent out, even a UK property would be better than keeping the money in a bank! I dont see a problem in the OP who says she is to be here long term buying a home in Spain if that is where she wants to be, how much would she pay in rent over 10 years??? A short term rental until she finds what she wants is not a bad idea! Most people looking to buy have already spent quite a few years visiting on holiday!

Re: Thinking of buying in Torrevieja
 

It's immaterial how much she would pay over 10 years, as I said, try it for a year or so, then if it's for you, buy a place. I was reading recently a site in Valencia selling a nice property that was selling for over €400K(well it wasn't selling, hence the price) it's now on the market for around €160K. That was a great investment! Everyone that moves out to Spain does so because that's where they think they want to be, but the reality doesn't always match the hype, living full time is very different to holidaying, hence a lot that can sell up and return do so. You buy all you want, my humble advice to any kids of mine would be definitely don't buy at this moment in time.

Re: Thinking of buying in Torrevieja
 

I think the drop you speak of from 400,000 to 160,000 euros happened in many parts of Spain, however, the % drop of 240,000 to that unfortunate soul is good news if you are lucky enough to be buying at 160,000!! i would not be buying in Spain as a property speculator, but I WOULD if I wanted to buy a lifestyle and get away from the crap weather, lets be honest, if you bought that 160,000 euros property you speak of and enjoyed it for 10 years you really cant go far wrong, one mans recesion is another mans paradise!

Re: Thinking of buying in Torrevieja
 

Unfortunately not, this kind of drop has only happened in the least desirable areas. i.e. some parts of the Costas, normally a long way from the cities, the satellite towns way out from Madrid and maybe the very dodgy neighbourhoods

In most parts of the major cities, prices have dropped perhaps 20-30%

Re: Thinking of buying in Torrevieja
 

You must be correct. Estate Agents are saying exactly the same:rofl:

Re: Thinking of buying in Torrevieja
 

Welll, much as the doom merchants dislike it, there is movement in the market, and before anyone asks, I own 3 spain properties, one comercial one is on the market (details in the correct part of the forum) the 2 domestic properties we have owned since 1992 & 1998 we are not selling & are doing just fine renting one and living in the other! some people are picking up some real bargains, they are happy with what they are able to buy at a price far lower than yesteryear!! I feel sorry for those who bought at the ¨top¨ of the market, it happens sometimes (it happened to people in the UK as well)......but there ARE good deals to be picked up in Spain if you look around and take your time!

Re: Thinking of buying in Torrevieja
 

If you bought in the 90s then you have no worries at all!

My ex-landlord in Benalmadena bought his flat for 50k in the mid-90s and then was moaning that he couldnt sell it at 400k

I suggested that he may want to try something closer to his purchase price

Re: Thinking of buying in Torrevieja
 

There is movement in the markets and those who bought more than ten years ago are benefitting from the low Pound/Euro rates when they sell.

Those who bought at the top of the market can't sell without taking a considerable hit and often hang on in the forlorn hope that the market will recover. It might, but would seem to be against the odds at the moment.

The ones I feel sorry for are the ones who can't go below a certain price, for whatever reason, and are trying to sit it out, for years in some cases. I know of several cases where one of the spouses has got fed up waiting and returned to the UK, alone.

The initial plan was for the other spouse to follow as soon as the property in Spain was sold. But as the months turned into years, the relationship didn't survive. One or the other would receive the dreaded 'Dear John', just as though they were locked up in prison.

i suppose, metaphorically speaking, they are.

Re: Thinking of buying in Torrevieja
 

La Marina Urb has ample of both rental and purchase options. Also, it seems to be central to a lot of many areas of interest. Plus, it has all the amenities you could every want....New Expat or Professional. 20mintues drive from the Urb to Torrevieja...

DSB.

Re: Thinking of buying in Torrevieja
 

The OP should also consider Playa Flameca or La Zenia, close to torre and both are ob the coast and have plenty of shopping, in particular La Zenia with the new Zenia Boulevard.

Re: Thinking of buying in Torrevieja
 

Buy or rent. Life is about choices.

Considering the number marraiges which end in divorce, one could say it's much cheaper to live together? :sneaky:

Re: Thinking of buying in Torrevieja
 

I would need somewhere that I could walk into Torrevieja in less than 20 minutes really as I don't drive. I think La Zenia and Playa Flamenca are further.

Is San Louis, La Siesta, Toretta 111 nearer to Torrevieja town and what kind of areas are these? Are they large urbanisations.

Sorry about all the questions but I would like to have some idea before I visit.

Thanks
helen

Re: Thinking of buying in Torrevieja
 

It is a very long hike from all of those urbanisations to Torre town centre. You could do it on a bicycle. There is an excellent cheap bus service between Alicante, Torre and Cartagena. You might want to consider somewhere close to the N322? This would give you easy and cheap transport to Torre and the airports at Alicante or Murcia.

I would suggest a town like Guardamar may meet your requirements better than any of those urbanisations you have mentioned.

Re: Thinking of buying in Torrevieja
 

There is a bus service from La Zenia and Playa Flamenca to Torrevieja, but when we didn't have a car we used Taxis, were quite cheap, and quick service.

Re: Thinking of buying in Torrevieja
 

Thanks, but I do like to walk and I am quite fit. How long would it take to walk briskly from these urbanisations to town?

Helen