fionamw

There's a campo myth/or not myth around here that the houses that will sell whatever are the old, reformed, character ones - and obviously with thorough escrituras. Do other areas have different stories - eg we hear that the off-plan market is one of the worst at the moment, freefall with out a parachute, is that true? Coast/inland? Are any of the myriad of little 100sqm houses that shot up in the past 5-10 years or so actually selling?
And yes I know it's all sh**e at the moment, and I'm not actually talking about price here, but there must be some selling? hence my question.

Hillybilly

Houses that are selling based the surveys I've been carrying out in the latter half of this year are old, UNreformed houses (cortijos and townhouses) i.e. the cheapies that are still the reform dream of some people and a few top end villas (resales). Not a lot in between!

Solarwhizz

Interesting, in the area I am in, the market seems still quite buoyant, certainly in the valley I look over there have been at least 6 newbuild sales in the last month, and the 6 new townhouses in the village two have been sold almost immedately,
But when you look at the local town, there are three new blocks of (at least 45 units in each) apartments, wherein only the odd one has been sold,

On the other side of the coin, there have been a fewrepossession (by the banks) notices being issued, at least 4 to my knowledge.

No conclusions here

poshnbucks

Fiona I think a lot of the Brits used to take money out of their UK properties by way of re-mortgage in the old days to buy their holiday home and this accounts for most of this unsold property down South,Because the Brits are holding on or just can not get the re-mortgage to buy. I think around my neck of the woods a lot of Swiss are buying and are definitely viewing but not in the sort of numbers of a few years ago. They tend to go for older property with views as they like to holiday in numbers so 4 and 5 bedrooms with a little land are what they go for. I have spoken with a number of estate agents and where 12-18 months ago they would sell a dozen properties a month they are lucky to sell one or two. I do not see the vast reductions in prices here though because people here have homes in Barcelona and are on the whole monied so in no rush to sell.We are by the sea.I think its going to take 5-10 years for things to improve, Remember if you bought a few years ago like me you have in paper terms either made a bundle or with reduction in prices stayed about where you bought, Compared to buying in Sterling to Euro now. Property and the market as such are not my field but I am sure someone who does work in that medium will have a view, I mean if 50 people can comment on my soggy wood pile I am sure they will chuck their two pennyworth in this thread.

Beachcomber

Nothing that has been built on rural land since the end of 2002 can be legitimately legal. It was difficult to re-sell these properties prior to the crash but now it will be totally impossible. On the other hand, rural properties with a Junta approved building licence, a final architect's certificate and a certificate of first occupation will be at a premium.

mikelincs

No new projects starting and a number of developers have gone out of business rund here. What seems to have happened in a lot of areas is that the companies have put in the infrastructures in the hope that the market will improve but there are loads of new communities where there are no, or just one or two houses occupied. Many people who bought as an investment have been unable to sell, and are now renting out, so some nice places coming available. The one we are in has never had anyone live in it since it was built, and all the furniture etc is brand new, most still in wrappers.

jackytoo

Only have to look how many are for sale. Some places look as if nearly all the village is on sale! Doesn't seem many price reductions though.

betris

[QUOTE=poshnbucks;6978134]

what a loverly log cabbin.or is that the wood pile you were talking about.

poshnbucks

[QUOTE=betris;6978237]

You are a wag

fionamw

...my soggy wood pile ...

glad you brought that up - must surely be drying now? Mine's usable after the last week's sun!
re houses, I guess another factor people haven't all been consistent about is whether we're talking about holiday homes or permanent

poshnbucks

Bought another load much older wood and just glows with a small flame and lots of heat just the job from 6pm. I was talking permanent re houses anyway dogs need another swim in the sea so have to go before it gets dark, Yet they will not go out in the rain very strange these Spanish dogs.

fionamw

Me too - permanent homes is what I was querying, though having typed that I suppose the difference only matters if it's coastal or on a specific complex

spain

only very very very cheap ones by the look of things......a friend recently bought a place to reform.......for around 50,000€

Mark Paddon

Yes Fiona there are still buyers out there and some houses are definitely still selling. As a surveyor working Valencia to Murcia and inland I get a good idea of what´s really happening. Off plan is at a serious standstill as investors interested in newbuild smaller units (such as golf apartments) can buy cheaply from their predecessors i.e. some past off plan investors are now desperate to sell at less than they paid, many properties have never been occupied and still need light fittings, but they are finished (as often are communal facilities)and can be viewed. ´What you see is what you get´ is a much safer (and often cheaper) bet than relying on a developers pictures and promises.

Coastal is better than inland (I used to get numerous inland buyer surveys and have seen a big drop in people buying cheaper rustic properties) older town houses for reform have also suffered as the bottom end of the market have now temporarily stepped out altogether (they still want to buy but finances prevent them from stretching). Legal established houses are more popular but good location to beaches or amenities is essential if a property is to be tempting.

The trend seems to be for people to snap up a small villa with pool near the coast for under 250k or for wealthier types to get a great deal on an upmarket villa (again near the coast) that might have been close to 1m last year for around 600 to 750 k. Some middle bracket properties are still selling but vendor competition is strong as there are lots of houses in the 350 - 500k band.

I am still carrying out plenty of buyer surveys, but everyone rightly is looking for a deal . Through media coverage most people want fully legal, and buyers are being more sensible when it comes to vetting properties.

If it´s any help, I have just been asked to contribute to a book by published author Nick Snelling, which is on the very subject of how to sell in a crisis and will be available soon (I think as an e-book online).

Mark Paddon

P.S. You also questioned about the mass of smaller builds (e.g. terraced bugalow and quad types) yes surprisingly these are selling I surveyed two near torrevieja last week and both are buying at a discounted price, but the newer examples are of less interest to buyers and people are far more likely to opt for a well established property close to golf, bars restaurants, beach etc. Some established and attractive areas are still popular, but newer mass builds inland and in areas that resemble dessert are not.