# Selling your house? A glimmer of hope



## Alcalaina (Aug 6, 2010)

Property sales are on the increase again, and 13% of purchases are being made by foreigners, compared to just 4% in 2009.

Of that 13%, Brits are the largest group (15%) followed by French (11%) and Russians (8%). Algerians and Chinese are now figuring in the stats too.

House prices rose by 0.97% in the second quarter of 2014 compared to last year - the first increase in six years. But since the peak in 2007, prices have fallen by 32% on average.

Por qué chinos y argelinos son los nuevos compradores de casas en España | Economía | Cinco Días


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## Pesky Wesky (May 10, 2009)

Alcalaina said:


> Property sales are on the increase again, and 13% of purchases are being made by foreigners, compared to just 4% in 2009.
> 
> Of that 13%, Brits are the largest group (15%) followed by French (11%) and Russians (8%). Algerians and Chinese are now figuring in the stats too.
> 
> ...


I wonder why/ if this is good news and for whom?
I wouldn't have thought this was good news for someone who's got a flat for sale in Vallecas/ Tetuán/ San Blas in Madrid. Nor is it good news for those who are buying.
Maybe it's good news for the banks, the "economy", but I don't think it is for the people who live here.
Or is it?


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## Alcalaina (Aug 6, 2010)

Pesky Wesky said:


> I wonder why/ if this is good news and for whom?
> I wouldn't have thought this was good news for someone who's got a flat for sale in Vallecas/ Tetuán/ San Blas in Madrid. Nor is it good news for those who are buying.
> Maybe it's good news for the banks, the "economy", but I don't think it is for the people who live here.
> Or is it?


No, I don't think it's particularly good news because the vast majority of people who don't already have a home of their own can't even contemplate getting a mortgage and getting onto the "property ladder", as agents love to call it. That won't happen until we have a stable economy with secure jobs, and prices may need to fall even further before they become affordable.

But it might be encouraging for expats who are keen to return to the UK for whatever reason, and have had their houses on the market for several years, to know that there are more buyers around than before.


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## Pazcat (Mar 24, 2010)

It can't be all that bad news though can it?

I mean not many would agree a stagnant market with falling prices is terribly good news either so when there is an upturn in the market then surely that is a positive move. It's got to start somewhere.


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## Pesky Wesky (May 10, 2009)

I would imagine this movement in the market price would be better news for Joe Blogs if there wasn't still such a huge stock of unsold housing.
Or will more houses sell if the price is higher?
As it is I can only think this is better for those higher up the food chain - as usual.


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## 90199 (Mar 21, 2010)

I'll believe it when it happens, people are flocking to buy mine, I wish


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## Madliz (Feb 4, 2011)

A week ago, anticipating the arrival of September, I started to feel that it might be spring before I got any new viewings of my house. 

On Saturday morning my phone rang to book a viewing and a couple from a nearby pueblo duly turned up at 1pm. 

On Monday morning an agent called to see if I'd be in for a viewing that afternoon. 

This lunchtime another man called to see if he could come tomorrow.

Regulars will know that my house has been on the market, like so many others in Spain, for some time. The price has dropped in total 38%, following market conditions here, but I have never had so much interest before. Particularly interesting is that I would not have expected much interest at this time of year. :fingerscrossed:


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## Pesky Wesky (May 10, 2009)

Madliz said:


> A week ago, anticipating the arrival of September, I started to feel that it might be spring before I got any new viewings of my house.
> 
> On Saturday morning my phone rang to book a viewing and a couple from a nearby pueblo duly turned up at 1pm.
> 
> ...


Wow, it's been a long time, hasn't it?
Let's hope this is IT!
I hope our pain in the neck neighbour over the road gets an offer soon. Her house has been up for sale for about 4 years. The one next door to her was up for sale too, at the same time. They couldn't sell it, but managed to rent it out, and I've just heard that there's another one for sale in our road. There are only 14 houses., but asnothing's been shifting for years there's an accumulation of properties.
Maybe this is the autumn of house sales!


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## Madliz (Feb 4, 2011)

The visitors on Saturday commented on how many properties were for sale in the area. 

Because nothing has sold for years and finance has been impossible to arrange, so many people have been stuck with unsold properties. I've long thought that the government should make selling and buying easier here. The taxes raised would certainly help the coffers, plus employment would get a boost from removals, building work and sales of everything one needs to make a new property a home. My life has been on hold, I'm not going to replace or upgrade anything unless vital as my money is earmarked for my new place. I am one of millions in the same position. Not only is this stagnation in the property market stalling the economy, it is ruining lives. Any good news is very welcome.

PW - you are sure I'm not your neighbour from hell? :yo:


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## Pesky Wesky (May 10, 2009)

Madliz said:


> The visitors on Saturday commented on how many properties were for sale in the area.
> 
> Because nothing has sold for years and finance has been impossible to arrange, so many people have been stuck with unsold properties. I've long thought that the government should make selling and buying easier here. The taxes raised would certainly help the coffers, plus employment would get a boost from removals, building work and sales of everything one needs to make a new property a home. My life has been on hold, I'm not going to replace or upgrade anything unless vital as my money is earmarked for my new place. I am one of millions in the same position. Not only is this stagnation in the property market stalling the economy, it is ruining lives. Any good news is very welcome.
> 
> PW - you are sure I'm not your neighbour from hell? :yo:


Have you got 2 kids that you scream and shout at and have been known to shove out into the front garden and shut the door behind you??
I think not Madliz


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## Madliz (Feb 4, 2011)

Pesky Wesky said:


> Have you got 2 kids that you scream and shout at and have been known to shove out into the front garden and shut the door behind you??
> I think not Madliz


Not recently


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## Roy C (Sep 29, 2012)

I have mixed feelings about this, I intend to retire Jan 2016 moving in the Sept. I was going to rent for a year but not sure now, I may need to buy although I think it will take quite a few years for it to really rise. It's good as it has at least bottomed out, so those in a desperate situation and need to get back, now have a glimmer of hope.

! Spanish News Today - Property Prices Rise In Spain For The First Time In Six Years


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## Calas felices (Nov 29, 2007)

I would regard these figures with some scepticism. The Case and Shiller method used comes from the American housing market and I would suggest is inappropriate for the Spanish housing market. Equally a less than 1% rise is considered within the bounds of arithmetic inaccuracy. I would love to think it is so but the green shoots don't seem to be there.


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## maxd (Mar 22, 2009)

Now is a great time to buy, not every property is created equal. There are plenty of bargains about, if you are worried about another 10% drop negotiate 20% off the asking price.


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## Madliz (Feb 4, 2011)

Green shoots have been reported in the last two quarters, particularly in certain areas, and suggest the bottom has been reached. I'm sure that prices will probably trundle along miserably for years to come as the great majority here still find it difficult to get on the property market. In Madrid, particularly, it is those with money who are buying, often to let. A friend has just bought a studio flat in the centre for precisely that reason and after doing it up, has now got her first tenants. 

As I stated earlier, I am finding increased interest after a long drought. Prices have dropped substantially, mortgages are beginning to become more available and interest rates are low. All these things together with greenish shoots in the economy as a whole are starting the ball rolling again.

The video here puts it quite well:
¿Ha llegado la hora de comprar casa?


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## Roy C (Sep 29, 2012)

Maybe like London, Madrid picks up at a lot of a faster rate than the rest of the country.


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## Alcalaina (Aug 6, 2010)

Madliz said:


> I've long thought that the government should make selling and buying easier here.


I absolutely agree. Everyone is getting in a tizz about expensive energy certificates but what is really needed is a "legality certificate" - so that buyers can know with certainty that all taxes have been paid, the land registry records are up to date and there are no skeletons lurking at the cupboard over ownership.

This was proposed (at least for new properties) in 2010 by Beatriz Corredor, housing minister in the last government, but unfortunately has not been taken up by the PP.


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## Pazcat (Mar 24, 2010)

I agree with that, but what they need to do is to either be proactive about legalising property and at the same time to not be too harsh with any penalties.
It frankly wouldn't be hard to cross check the legal situations of houses in a local area and it would be an absolute gold mine too.

There are so many sellers out there who wont or can't go to the trouble of getting their property up to date and whilst I do hold them entirely responsible for not doing it in the first place when it comes to sell up when they are hit with another 3-5 grand bill or more that they expect the buyer to cover.
The system is frustrating. Sellers can be frustrating.

It can be fixed I have no doubt, and as you say a certificate of legality would be wonderful but that would require a number of departments who all want their hand in the kitty to back off a little and communicate with each other.


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## Alcalaina (Aug 6, 2010)

Pazcat said:


> I agree with that, but what they need to do is to either be proactive about legalising property and at the same time to not be too harsh with any penalties.
> It frankly wouldn't be hard to cross check the legal situations of houses in a local area and it would be an absolute gold mine too.
> 
> There are so many sellers out there who wont or can't go to the trouble of getting their property up to date and whilst I do hold them entirely responsible for not doing it in the first place when it comes to sell up when they are hit with another 3-5 grand bill or more that they expect the buyer to cover.
> ...


Well, the government managed to organise an amnesty for unpaid tax on overseas assets two years ago (pay 10% and we'll forget all about it) so it's not impossible! It just needs the political will.


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## wilsman77 (Aug 13, 2014)

I am one of the 15%.... just got a place in Lomas de Cabo Roig. fingers crossed for the Theme Park but not the Airport as saint jose is much closer for me and i would hate to see it go.


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## Pazcat (Mar 24, 2010)

Alcalaina said:


> Well, the government managed to organise an amnesty for unpaid tax on overseas assets two years ago (pay 10% and we'll forget all about it) so it's not impossible! It just needs the political will.


They may come around eventually.
There is I think something like that going on with the catastro, I don't really know much about it but it seems that there are selected areas(I think on a rotation basis) that they are offering a deal where for 60 euro you can "regularize" your property with the catastro.

At least I think that is what it is, I'm happy to be corrected.
Portal de la Direcci?n General del Catastro


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