wilsman77

prices in the costa Blanca back to 2004 levels and climbing. Only 33% down now....
! Alicante Today - Alicante House Prices Rising After Spanish Property Slump

wilsman77

looks like Spanish unemployment will be low 20% soon, i wonder what that could mean to future property prices...........

https://news.kyero.com/2015/10/spani...nce-2011/20734

Maybe1day

Aren't we lucky we bought when it was almost at a peak? the only lucky bit was that the guy was desperate for loot so we got it for 30% less than he paid 6 months before. Now we are trying to sell it for 30% less than we paid.

wilsman77

my advice is only sell if you have to.

costaaz

"Following this drop in unemployment, the total number of people registered unemployed in Spain reached a total of 4,850,800,"

The keyword here is registered.
When the short time of unemployment aid runs out most people do not keep re-registering and drop of the statistics.
This is an election year and a lot of unskilled temp jobs are created to make look the data all shiny.
So no worries that this will affect in any way the house prices.

cricketman

Created by who, the PP?

I think you wildly overestimate their competence

The best reason not to buy in Spain is the 10% sales tax. It´s no incentive to buy or change houses no matter how cheap they appear to be

wilsman77

good point cricket, they probably need to reduce the S&P costs & that would really get things moving. The unemployment figures would diminish over night if the workers who were previously related to the Propery industry managed to find employment.

Moses2013

If you know that the 10% sales tax exists, I don't see a problem. If the house is on the market at around 80K and is worth 70K, just offer 60K.If you don't think it's worth that price, don't buy or offer less.

wilsman77

Moses, who increases the valuation on their home by 10% when advertising it for sale?

cricketman

Well... I have been looking at houses around Oviedo. They are around 600k euros

Thinking that I would have to pay 60k tax puts me off, especially as I could rent a similar property for 1,200 euros per month i.e. just the tax bill would be around 4-5 years rent

Plus in 5-10 years time, when the kids are older, maybe we would want to move again. Hence another big tax bill

It makes no sense unless buying cheap properties at the bottom of the market

Moses2013

Well in that case it's certainly better to rent. You must be looking at huge villas? I actually struggled to find anything in our area of Ireland above 600K. This is the only place I found for 675K and it's more or less a castle. Kilcolgan Castle Courtyard, Kilcolgan, Co. Galway - House For SaleAnd in our area of Spain, you'd only find huge villas with seaview for that sort of money.

cricketman

I have my eye on a house which is a 5 min walk to the city centre. It is 400 square meters and has a 1500m2 garden which is amazing as so close to the centre

All the houses in that area are between 500k and 1.5 million

There are loads of properties across the North of Spain and Asturias for sale for over 1 million euros. And thousands for sales over half a million

Moses2013

But if someone is willing to buy a 400m2 house, I don't think the 10% tax will put them off.

cricketman

Well it does me!

wilsman77

exactly, its the bottom end where the 10% is relevant & hurts. At the top end (cricketman lucky bugger) means that he may buy in another country if the tax puts him off. So he just goes and buys a million euro property on the cote De Azure instead.........