Value for money
#1
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Joined: Sep 2010
Location: Norwich
Posts: 2
Value for money
Hello!
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon
#2
Re: Value for money
Hello!
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon
So - i think it will be 15 or 20 years before its complete on there - maybe more - how long is a ball of string - but until then we are still going to buy on Esuri n enjoy our holiday home until we can move out there more permanently
Good luck in whatever you decide Jon xxxxx
#3
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Joined: Dec 2006
Location: Living in a good place
Posts: 8,824
Re: Value for money
I would wait until next year, all the "experts" say that prices haven't reached the bottom yet.
#5
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Joined: Jan 2006
Posts: 28
Re: Value for money
Hello!
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon
#6
Joined: Mar 2006
Posts: 1,980
Re: Value for money
Hello!
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon
Have you visited the area already?
#7
Re: Value for money
Prices all over Spain will continue to go down for another year or so.
This is last years empty properties and more have been built since.
Not a bad guess on the unemployment total for now though, maybe a tad low but very close.
This is last years empty properties and more have been built since.
Not a bad guess on the unemployment total for now though, maybe a tad low but very close.
#8
Forum Regular
Joined: Jan 2010
Posts: 34
Re: Value for money
Prices peaked in Spain in 2007 since when they have dropped on average around 30%. The latest information I have is that prices are now bottoming out. Based on the price you quote, that apartment has been discounted by 40% at least since 2007 so I think it's a very attractive price and unlikely to fall in value. Ownership of these properties has passed to a bank and they are priced to sell. Prices aren't going to up either in the short term so you can also wait if you prefer although you then run the risk of someone else stepping in and buying the apartment you want. Overall I agree with the great American investor, Warren Buffet, who said, "You should be cautious when others are being greedy and greedy when others are being cautious". If you have the means, this is the best time to be buying.
#10
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Joined: Jan 2010
Posts: 34
Re: Value for money
Golf complexes all over are struggling because there are just too many courses and not enough customers. I have no knowledge of sailing perhaps there is a need for a marina if so it will bring business. Don't boat owners like to use marinas where they can top up supplies fuel etc. with a short walk into shopping areas?
I,m thinking of Villamoura down the coast on the Algarve.
I,m thinking of Villamoura down the coast on the Algarve.
#11
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Joined: Apr 2009
Posts: 7,749
Re: Value for money
Golf complexes all over are struggling because there are just too many courses and not enough customers. I have no knowledge of sailing perhaps there is a need for a marina if so it will bring business. Don't boat owners like to use marinas where they can top up supplies fuel etc. with a short walk into shopping areas?
I,m thinking of Villamoura down the coast on the Algarve.
I,m thinking of Villamoura down the coast on the Algarve.
I think we are 2-3 years away from a bottom in Spain and when we get there I think we'll stay there for a while.
I would be worried about buying in a development that was already in a difficult situation financially. It could end up like living in a ghost town and the property being virtually unsellable.
Still, 99k for say a newish 2 bed apartment anywhere on the Costas is starting to sound like good value.
#12
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Joined: Dec 2006
Location: Living in a good place
Posts: 8,824
Re: Value for money
I agree with c/man. Could turn out to be a bargain but I reckon the marina and hotel are pie in the sky at the moment. The place could even become more neglected in the future. Better to find a bargain in an established urbanisation.
#13
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Joined: Jan 2010
Posts: 34
Re: Value for money
I agree with you. There must be bargains to be had that don't rely on a golf course being viable.
#14
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Joined: Sep 2010
Location: Norwich
Posts: 2
Re: Value for money
Thanks to everybody for their advice. I do believe it has helped me decide to wait a while longer...
Thanks!
Jon
Thanks!
Jon
#15
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Joined: Dec 2009
Location: Aracena area Huelva Spain
Posts: 1,631
Re: Value for money
Hello!
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon
I am considering purchasing a first floor apartment on Rago 1 with a wrap around terrace overlooking a pool for 99,000 euros. I am all for the idea as I feel it would be an excellent investment. Many friends and family have advised me against it however as there is this idea that properties in Spain are now two a penny and losing value by the day! Please advise me as I am really unsure what to do....
Jon