# Over Inflated Property Prices?



## Esprit9 (Aug 4, 2018)

Thankfully with many of the help on this forum, I'm on my way to purchase an apartment flat in the Alicante area. I'm noticing crazy prices mixed with decent prices but worry agents are over inflating prices. Can someone help me get to the reality of what I would pay (in euros) for the following:

* 2 Bed/1 bath apartment
* Very Small around 50m2 flat
* El Campello/Playa San Juan/Alicante City Area
* Ocean front line (or excellent views of ocean) (only way wife allows this purchase)

Thanks in advance..


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## Elyles (Aug 30, 2012)

Esprit9 said:


> Thankfully with many of the help on this forum, I'm on my way to purchase an apartment flat in the Alicante area. I'm noticing crazy prices mixed with decent prices but worry agents are over inflating prices. Can someone help me get to the reality of what I would pay (in euros) for the following:
> 
> 
> 
> ...




Here, in a mountainous region, the prices remained high through the crisis and are now edging up a bit. I don’t know about your area but here people refused to sell at low prices with those who got greedy not being able to sell their property. I suggest going on fotocasa to look at comparables. When we bought five years ago I was amazed at the over abundance of garbage priced below 115k €. Of course, the photos all looked good!


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## Esprit9 (Aug 4, 2018)

Thanks Elyles,

I noticed one search site shows one price while another shows a higher price. I've connected with a two real estate agents and both told me not to go with those websites due to homes are all sold and buyers will need to usually pay 5% over the sellers asking price just to have a chance. Something doesn't seem right..


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## Elyles (Aug 30, 2012)

Esprit9 said:


> Thanks Elyles,
> 
> I noticed one search site shows one price while another shows a higher price. I've connected with a two real estate agents and both told me not to go with those websites due to homes are all sold and buyers will need to usually pay 5% over the sellers asking price just to have a chance. Something doesn't seem right..




I would find a real estate agent who you can trust. They are out there. We rented through ours first, got to know them then purchased here. Mine remains a friend after five years. Anyway, 5% over asking price? That is highly unusual. The most beneficial time to buy is in the slow period. You can offer on a property as well but don’t insult the seller and try to steal the property. We offered 15k less than the asking price five years ago. As in the US, the real estate agent has to give the buyer all reasonable offers. Do you know anyone who has been in the area a while? Ask them to assist you. Now, water views may be a different boat and really quick sellers but I don’t know here. I would rent first so you really know the area where you live. Then you can take your time and find the property you want. 


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## Williams2 (Sep 15, 2013)

Esprit9 said:


> Thankfully with many of the help on this forum, I'm on my way to purchase an apartment flat in the Alicante area. I'm noticing crazy prices mixed with decent prices but worry agents are over inflating prices. Can someone help me get to the reality of what I would pay (in euros) for the following:
> 
> * 2 Bed/1 bath apartment
> * Very Small around 50m2 flat
> ...



Why not checkout the Spanish Property repossession Auction websites, there seems to be loads of Bank Repossessed Property websites for Spain; some even listing repossessions by area ( just like in the UK )
the banks don't really care about making thousands of Euro's profit on it and who knows you could
pick up a bargain.


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## Elyles (Aug 30, 2012)

Williams2 said:


> Why not checkout the Spanish Property repossession Auction websites, there seems to be loads of Bank Repossessed Property websites for Spain; some even listing repossessions by area ( just like in the UK )
> the banks don't really care about making thousands of Euro's profit on it and who knows you could
> pick up a bargain.




The larger banks here have (Real Estate Owned) Repossessions and some with online lists. When we bought 5 years ago we looked but there were none in this area.


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## Overandout (Nov 10, 2012)

Of course it varies, but I doubt that agents are ore the responsible parties for "over inflating" prices.

My experience is that agents usually pressure vendors to lower the price to promote a quick sale / high turn-over of properties. Makes better business sense for the agent.

Usually it is the over-optimistic owner who over-values their property, but some are prepared to be flexible. Others are not, you have no choice but to test the water.

Just don't get frustrated.


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## Alcalaina (Aug 6, 2010)

If you go to the Fotocasa website you can get data on actual sale prices, filtered by region and date. 

https://www.fotocasa.es/indice/#/filter/eyJ0cmFuc2FjdGlvbiI6ImJ1eSJ9


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## kaipa (Aug 3, 2013)

Alicante city San Juan: a very desirable area. Many professional Spanish live here.International schools etc. You mention first line two bedroom apartment so I would imagine the cheapest in Alicante city must be around 65 to 70 K. So San Juan first line well over 100K more perhaps. It is a really nice area and appeals to lots of people hence the prices. If you want cheap head down towards Torrevieja but then that's not quite the modern urban experience you ate going to get in a major city


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## Elyles (Aug 30, 2012)

Overandout said:


> Of course it varies, but I doubt that agents are ore the responsible parties for "over inflating" prices.
> 
> My experience is that agents usually pressure vendors to lower the price to promote a quick sale / high turn-over of properties. Makes better business sense for the agent.
> 
> ...




Unfortunately with most of us, we will put a higher value on our property than what the market will bear


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## kaipa (Aug 3, 2013)

In fact now I think of it my friends rents a small 2 bed in San Juan and said the owner wanted 120K. It is on a main street and nowhere near beaches . So I guess you will pay a lot more if you want sea views


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