# Property is getting cheaper by the day !



## VFR (Dec 23, 2009)

Assuming you are a UK buyer that is, exchange rate looking good for those thinking about the move.


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## Simon22 (May 22, 2015)

We found property is selling now, we saw a couple we liked that we took a day or two to think about that sold by the time we decided they weren't right


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## tonymar (Jan 29, 2015)

Yes things are starting to move again , good news !!

Tony


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## VFR (Dec 23, 2009)

tonymar said:


> Yes things are starting to move again , good news !!
> 
> Tony


Yes a friend tells us he has just sold "and" he had quite a few interested.


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## Lynn R (Feb 21, 2014)

I was speaking to an estate agent based in Torre del Mar on Monday (just a social chat) and she told me she is running out of properties in the town where I live, as she is getting so many requests. An examination of her website shows 36 properties there, some of which are marked sold, so that may be something of an exaggeration!

But a friend of ours whose house has been on the market for years has had two viewings within the last 7 days.


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## VFR (Dec 23, 2009)

Well when you think about what £150K will buy you in the UK & what you can here for that


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## Isobella (Oct 16, 2014)

Will UK owners still be prepared to sell if they are hoping to return to UK. I am not sure. If they have reduced a lot and now lost another 15% or so will it be worth selling. I have friends whose house has been on sale for years and they thought that the price reduction would be offset by the low pound but not so now. They have resigned themselves to sticking it out.

As for running out of houses, just had a little peek.....in their dreams:lol: maybe about 2020. Or 2025 if they start building again.


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## Lynn R (Feb 21, 2014)

If you mean the total housing stock, sure. But how much of what is for sale would ever have been of interest to foreign buyers, even before the crisis?

In my town, there are 644 properties listed for sale on idealista, for example (and some of them are listed more than once, by different agents, so the real total is less). Probably 75% of them are flats in the town centre blocks, which are never going to be bought by foreigners, so the number of houses on urbanisations or townhouses in areas which foreigners like which are for sale is a lot lower.

The total number of properties on sale isn't going to reduce dramatically until the Spanish domestic property market improves.

I was reading somewhere the other day that prices have actually risen since the beginning of this year in Nerja, Estepona and Manilva, and wasn't it posted here fairly recently that property prices in Javéa had increased by about 11%, the largest increase in the country, I believe.


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## Isobella (Oct 16, 2014)

I take it with a pinch of salt I know Manilva and it has block after block of unsold coastal properties. Never been very popular, too far from airport. I don't know about Nerja but I can't see it happening on the Western CDS.


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## Sirtravelot (Jul 20, 2011)

On our street, at the beginning of the year, 5 houses came up for sale. One was priced to sell. Two seemed to be priced correctly, and the other two seemed too high. For the last two I thought "Yeah, good luck guys. The for sale sign will be up for a few years."

All 5 of them have been sold.


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## Lynn R (Feb 21, 2014)

Sirtravelot said:


> On our street, at the beginning of the year, 5 houses came up for sale. One was priced to sell. Two seemed to be priced correctly, and the other two seemed too high. For the last two I thought "Yeah, good luck guys. The for sale sign will be up for a few years."
> 
> All 5 of them have been sold.


Funny you should say that. Someone we know put their house up for sale late last year and I thought at the time it was overpriced compared to other, larger houses in the same area, but they sold within 6 months and accepted an offer 10% below the asking price. The buyers were German, and I don't think they're renowned for paying daft prices.


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## ptjd (May 27, 2015)

We just closed on a property in Malaga, we were looking in the Historico centro. Last February when we went to look, 3 of the 5 properties we were interested in had gone under contract before we even arrived. Our place was originally put up for sale 4 years ago but would not sell, they put it back on the market this January and we put it under contract in February and they had 3 other folks from Nordic countries very interested. One couple asked my realtor if we would be interested in selling to them!


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## Isobella (Oct 16, 2014)

I got hooked into looking at Idealista yesterday. Some real bargains and some really overpriced. I wonder why some haven't been snapped up. Amazing to see the amount of properties on sale. over 11,000 in Benalmadena alone


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## alborino (Dec 13, 2014)

Isobella said:


> I got hooked into looking at Idealista yesterday. Some real bargains and some really overpriced. I wonder why some haven't been snapped up. Amazing to see the amount of properties on sale. over 11,000 in Benalmadena alone


What we found in the south, and as a few here have advised, the photos on the sites can give a very false impression. The block of flats or smelly factory next door that somehow didn't make the fotos 

But for sure Isobella we find that you can take the asking price with a pinch of salt to be very frustrating. Some won't budge from it, others halve it because you showed the minimum of interest.

Sadly up here in Asturias our village is suffering. Tourists (95% Spanish) are way down. And the number of closed bars, shops and restaurants is the highest I have seen in 8 years. And that despite recent years of investment in free attractions, new promenade, new pedestrian areas, .......

The sad thing is to see restaurants refurbished, opening with optimism, and then closing in 2 years 

The bagpipe festival last week was poorly attended as is the current in the plaza summer cinema. Tonight in the theater I don't expect to see 60 attendees for a good black comedy "Carne de gallina" (tickets 5 euros). And from Sunday live classical music (both in and outdoor) plus live groups and the local brass/jazz band are I suspect not going to fair better.

And all these events are free (except teatro but it is subsidised) so one cannot say the townhall are not trying.

Property prices have held up better than national average here in the past for houses but flats have tumbled. And I expect from the increasing number for sale it will still get worse 

Hopefully it is a local issue but one would have thought with a heat wave in the rest of Spain and Asturias with a barmy 18 to 26 degrees and very green scenery that the latter might be rather attractive.


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## Isobella (Oct 16, 2014)

that sounds sad. We once came back on the ferry with some bagpipe players from that region. They also had a choir with them. They were on their way to a festival in Wales. Lovely people. They really livened up the ship with their singing.


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## Williams2 (Sep 15, 2013)

Isobella said:


> that sounds sad. We once came back on the ferry with some bagpipe players from that region. They also had a choir with them. They were on their way to a festival in Wales. Lovely people. They really livened up the ship with their singing.


Yes - Asturias proudly boasts it's Celtic connections and has played host to a number of Celtic festivals
in the past.


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## LDN2ESP (Jul 24, 2015)

I've been looking at property in Spain for months, but have been waiting for the interest rate hike forthcoming in the autumn. Predictions are that the £ will keep rising to beyond 1.50 euro to the £. When I've been looking I try to aim at non-UK owner properties, thus, to avoid the wouldbe UK seller trying to recover as much as possible from the poor euro rate.

Biggest concern for me (potential upcoming buyer) is the declining euro stability, which by all accounts really is in a shocking state. House of cards situation ...


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## The Skipper (Nov 26, 2014)

LDN2ESP said:


> I've been looking at property in Spain for months, but have been waiting for the interest rate hike forthcoming in the autumn. Predictions are that the £ will keep rising to beyond 1.50 euro to the £. When I've been looking I try to aim at non-UK owner properties, thus, to avoid the wouldbe UK seller trying to recover as much as possible from the poor euro rate.
> 
> Biggest concern for me (potential upcoming buyer) is the declining euro stability, which by all accounts really is in a shocking state. House of cards situation ...


Why worry! When the euro finally goes tits up (as it will eventually, one way or the other) the pound will get even stronger. Just think how many pesetas you will get to the pound! (but only good news, of course, for those of us lucky enough to have a sterling income).


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## Williams2 (Sep 15, 2013)

The Skipper said:


> Why worry! When the euro finally goes tits up (as it will eventually, one way or the other) the pound will get even stronger. Just think how many pesetas you will get to the pound! (but only good news, of course, for those of us lucky enough to have a sterling income).


I shouldn't get too smug about the rising pound against a falling Euro. With the EU
and the Eurozone being the UK's biggest customer. Any significant rise in the
pound is bad news for British Exporters, as EU customers look elsewhere or trade
more heavily within the Eurozone.

Of course those high value German cars will become more cheaper to buy in the
UK but of course you will only be contributing to the Rising Imports and lower
Exports trend in the UK.

In short a rising £ means declining GDP for the UK which means falling Exports,
more jobs being lost or off-shored or near shored to Europe, as British labour is 
deemed more expensive, etc, etc, etc.


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## alborino (Dec 13, 2014)

Williams2 said:


> I shouldn't get too smug about the rising pound against a falling Euro. With the EU
> and the Eurozone being the UK's biggest customer. Any significant rise in the
> pound is bad news for British Exporters, as EU customers look elsewhere or trade
> more heavily within the Eurozone.
> ...


William while I agree to a large degree the low Euro has led UK exporters to improve the ratio of non-euro exports to euro exports making the UK that much more resilient than before. 

And the high pound also gives UK companies the chance to buy EU assets at very knocked down prices. 

So not all bad over the medium term 

But I can't see a better than 1.50 rate in the next 3 years without a EU UK exit. And I think that is still unlikely - but more likely than 6 months ago


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## The Skipper (Nov 26, 2014)

Williams2 said:


> I shouldn't get too smug about the rising pound against a falling Euro. With the EU
> and the Eurozone being the UK's biggest customer. Any significant rise in the
> pound is bad news for British Exporters, as EU customers look elsewhere or trade
> more heavily within the Eurozone.
> ...


I think that, possibly, you have been listening to too much Nick Clegg. He´s the chap who predicted that the introduction of the Euro would turn the EU into the economic power-house of the World and that if the UK didn´t join it would become the equivalent of a Third World economy. He´s also the chap who led the Lib Dems into electoral meltdown earlier this year. You need to look at the official ONS data on who the UK trades with around the world and, in particular, the trends over the last few years and the projections for the next five years.


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## LDN2ESP (Jul 24, 2015)

A positive Spanish property BBC report on today's Travel Show. This show is shown within the BBC News channel.


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## 90199 (Mar 21, 2010)

The property market here is still in decline, so much so that nearly all of the local estate agents have ceased trading.


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## Williams2 (Sep 15, 2013)

The Skipper said:


> I think that, possibly, you have been listening to too much Nick Clegg. He´s the chap who predicted that the introduction of the Euro would turn the EU into the economic power-house of the World and that if the UK didn´t join it would become the equivalent of a Third World economy. He´s also the chap who led the Lib Dems into electoral meltdown earlier this year. You need to look at the official ONS data on who the UK trades with around the world and, in particular, the trends over the last few years and the projections for the next five years.


No - I don't have to look any further than the UK job market for my Statistics and as
usual - Contracts, Temporary Jobs, Fixed Term Contacts, Zero hour contracts,
begin to equal and in some areas even outnumber, Permanent jobs.

For a true picture of the ordinary man in the streets, well being.


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## Isobella (Oct 16, 2014)

LDN2ESP said:


> A positive Spanish property BBC report on today's Travel Show. This show is shown within the BBC News channel.


I thought it was closest thing to an advert! Two Spanish Agents who said now was the time to buy. An English guy who runs a property website and Taylor Woodrow who have only three left....they always say that why did they show such awful developments, they looked like prisons. The English woman who bought a place in Denia had a great sea view but it was outside a children's playground:confused2:


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## Williams2 (Sep 15, 2013)

Isobella said:


> I thought it was closest thing to an advert! Two Spanish Agents who said now was the time to buy. An English guy who runs a property website and Taylor Woodrow who have only three left....they always say that why did they show such awful developments, they looked like prisons. The English woman who bought a place in Denia had a great sea view but it was outside a children's playground:confused2:


Nah - wouldn't interest me, as it's too darned Hot in the summer !!!


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## Lynn R (Feb 21, 2014)

Isobella said:


> why did they show such awful developments, they looked like prisons.


I haven't seen the programme, but I must say a lot of the most recently built developments around here look like that to me, they are in nice residential areas but just plain ugly, square boxes with high fences around the gardens.


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## The Skipper (Nov 26, 2014)

Williams2 said:


> No - I don't have to look any further than the UK job market for my Statistics and as
> usual - Contracts, Temporary Jobs, Fixed Term Contacts, Zero hour contracts,
> begin to equal and in some areas even outnumber, Permanent jobs.
> 
> For a true picture of the ordinary man in the streets, well being.


So nothing like that happens in the eurozone countries?


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## Lynn R (Feb 21, 2014)

The pound has dropped below €1.40 this morning, so Spanish property has just got more expensive again.


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## Isobella (Oct 16, 2014)

If I were seriously planning to buy I would get my money over to Spain right now.


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## SandraP (Apr 23, 2014)

I wish we could afford to buy right now, but unfortunately we cannot live on his pension if it were cashed in and he cannot retire just yet. I need to win a substantial amount on the lottery, well just enough to buy a home in Spain would be nice.


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## Williams2 (Sep 15, 2013)

Williams2 said:


> No - I don't have to look any further than the UK job market for my Statistics and as
> usual - Contracts, Temporary Jobs, Fixed Term Contacts, Zero hour contracts,
> begin to equal and in some areas even outnumber, Permanent jobs.
> 
> For a true picture of the ordinary man in the streets, well being.





The Skipper said:


> So nothing like that happens in the eurozone countries?


On the 11th June 2015, ratings agency Standard and Poor changed its outlook for the UK economy from 'neutral' to 'negative', saying that the referendum "represents a risk to growth prospects" for the country's economy. By the way
S&P is the only ratings agency that still gives the UK a AAA rating.

Make of it - what you will.


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## Chopera (Apr 22, 2013)

Lynn R said:


> The pound has dropped below €1.40 this morning, so Spanish property has just got more expensive again.


By the day


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## Lynn R (Feb 21, 2014)

A very mixed picture of how much the "stock" of unsold new housing fell in 2014.
Fuerte bajón del stock de vivienda nueva en Málaga . SUR.es

There is, apparently, none at all in Cantabria or Extremadura, but then I suppose far fewer properties were built in those regions immediately before the crash.


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## The Skipper (Nov 26, 2014)

Williams2 said:


> On the 11th June 2015, ratings agency Standard and Poor changed its outlook for the UK economy from 'neutral' to 'negative', saying that the referendum "represents a risk to growth prospects" for the country's economy. By the way
> S&P is the only ratings agency that still gives the UK a AAA rating.
> 
> Make of it - what you will.


Would this be the same Standard & Poor’s that earlier this year agreed to pay $1.375 billion to settle claims by the US Department of Justice and multiple state governments that the ratings agency defrauded investors in the lead up to the financial crisis? It surely would! Unfortunately all three major ratings agencies have an appalling record for getting it wrong!


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## Horlics (Sep 27, 2011)

It would be the same.

And as for what I make of that. I think S&Ps recent talk of the referendum impact illustrates how uncomfortable they are with being the only agency to rank the UK AAA, which it shouldn't be. Why they don't just downgrade it I don't know.


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## LDN2ESP (Jul 24, 2015)

Interest rates in the UK will rise soon, probably first quarter of 2016. At that point the £ will rise again. Experts (cough) have predicted 1.50 Euro to the £. If you can hold on for at least a year, you may see this out if you're trying to sell in Spain. I'm looking to buy, but NOT from a UK seller, you can already tell from the sales who wants to head home to the UK ... Take note.


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## tonymar (Jan 29, 2015)

LOOK some bad stuff has happened to me today , if your dream is to buy a place iN SPAIN GO FOR IT !

I have been here 12 years , / a better life ? thats up up to you !

life is what you make it !!


Tony


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## Roy C (Sep 29, 2012)

Hope you're ok Tony.


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## tonymar (Jan 29, 2015)

Roy C said:


> Hope you're ok Tony.


Thank roy , yes I am ok thanks just dont want any more days like this !!

hope things seem better in the morning !"

Tony


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## 90199 (Mar 21, 2010)

Roy C said:


> Hope you're ok Tony.


I second that, chin up friend.


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## Horlics (Sep 27, 2011)

LDN2ESP said:


> Interest rates in the UK will rise soon, probably first quarter of 2016. At that point the £ will rise again. .


Incredible insight Mark. Sorry LDN2ESP Carney. What makes you think that?

Anyway, so Mark says it will, but what the impact will be who knows. The Euro will be in trouble for as long as they're printing money (QE). It was holding up quite well until then despite the troubles.


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## Roy C (Sep 29, 2012)

Horlics said:


> Incredible insight Mark. Sorry LDN2ESP Carney. What makes you think that?
> 
> Anyway, so Mark says it will, but what the impact will be who knows. The Euro will be in trouble for as long as they're printing money (QE). It was holding up quite well until then despite the troubles.


Two weeks ago there was only talk of the interest rates may go up and the pound went up again. I've based my calculations on our move next year on a lower pound but if it hits 1.50 when we're buying, I won't complain.


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## tonymar (Jan 29, 2015)

Hepa said:


> I second that, chin up friend.


Thanks Hepa !


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## alborino (Dec 13, 2014)

Roy C said:


> Two weeks ago there was only talk of the interest rates may go up and the pound went up again. I've based my calculations on our move next year on a lower pound but if it hits 1.50 when we're buying, I won't complain.


I think there is a danger of over simplifying the currency markets. The press love headlines like "pound falls on weak growth" and "pound rises on interest speculation". They are sometimes proved wrong within minutes of publishing 

The assumption higher interest rates lead to higher currency valuation is fine in isolation but I don't hold too much on it in the current climate. For example it may be overridden if Brexit becomes more likely. Or if the Eurozone find a better mechanism to handle debt distribution

I'm with you Roy as while at the moment as much as I'd love a 1.50 pound I don't see it simply because it isn't sustainable without a Eurozone collapse and that in itself could damage the pound based on our guarantees to the EU. If I get 1.45 I'd be very pleased but as I only have 7 days before my big lump of pounds arrive I'll exchange immediately at anything over 1.40 

But it does seem a bit of a lottery so good luck to those making a big move soon lane:


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## The Skipper (Nov 26, 2014)

Roy C said:


> Two weeks ago there was only talk of the interest rates may go up and the pound went up again. I've based my calculations on our move next year on a lower pound but if it hits 1.50 when we're buying, I won't complain.


If you get €1.50 you will be a very lucky man, especially with Spanish house prices still at rock bottom. We got only €1.35 when we transferred cash to buy our Spanish home. It´s interesting to note that the exchange rate in 1999 when the Euro launched was €1.42 and the best ever rate was €1.5220 in 2004. Gets the adrenalin flowing, doesn´t it, being an international currency speculator!


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## Lynn R (Feb 21, 2014)

The Skipper said:


> If you get €1.50 you will be a very lucky man, especially with Spanish house prices still at rock bottom. We got only €1.35 when we transferred cash to buy our Spanish home. It´s interesting to note that the exchange rate in 1999 when the Euro launched was €1.42 and the best ever rate was €1.5220 in 2004. Gets the adrenalin flowing, doesn´t it, being an international currency speculator!


Where are you getting your figures from? At one point in 1999 the exchange rate was over €1.70 to the pound.


Historical exchange rates from 1953 with graph and charts


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## The Skipper (Nov 26, 2014)

Lynn R said:


> Where are you getting your figures from? At one point in 1999 the exchange rate was over €1.70 to the pound.
> 
> 
> Historical exchange rates from 1953 with graph and charts


Sorry, yes, you are quite right. I didn´t think that sounded right and should have double checked. I did a Google search and trusted the first in the list, which was: What Is The Strongest The Pound Has Ever Been Against The Euro?


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## Lynn R (Feb 21, 2014)

The Skipper said:


> Sorry, yes, you are quite right. I didn´t think that sounded right and should have double checked. I did a Google search and trusted the first in the list, which was: What Is The Strongest The Pound Has Ever Been Against The Euro?


Wouldn't it be lovely (for us, anyhow) if we were to see those rates again? Not a snowball's chance in hell, though, I suppose. €1.50 would be very nice, though, and if interest rates do start to move in the US and the UK, albeit only a tiny bit, and the ECB continues quantative easing, a lot of economic commentators seem to think that could be on the cards.


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