# Spanish Property



## Guest (May 19, 2007)

Hello Forum,
I'm Martin from Bedfordshire in the UK. 

I am retiring next year, selling up in the UK and looking out for property in the Costa Blanca part of Spain. We have holidayed lots in Denia and Alicante.

We are pretty much set on doing this and have started looking for our small retirement villa already. I am getting a bit worried about the recent news in the papers on the Spanish property colling in price.

Should we wait? Or should we continue looking? What would be the wise thing to do. I really dont want to pay £300k for a villa now that may be worth £200k next year...

Martin


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## Goldberg (May 24, 2007)

*Buy now or Wait*

The truth is no one knows the future.

The second truth is, that markets are cyclical, ie. they go up and down

The third truth is each day we get older.

So in answer to your question. Buy now and worry if there is a crash around the corner when you are enjoying the sun and going down the beach. Then it goes down 10% or 15%, but it is not in my opinion going to go down 50%, that is not going to happen.

200k sterling to be on the beach in denia a villa, well that is pretty tough, 300k sterling, to be on the beach will not happen either, if you have a million euro, you can be on the beach, apartments on the beach are 200 250k euros, so villas front line, forget it.

200k buys you a plot euros in denia, maybe you can get one at 150k further out.

The truth is, if someone wants to sell they may drop the price, but no one other than that wants to. People today will want more money tomorrow, if they get it it is another thing. Spain and the uk are very tightly correlated, and sales may go down, but prices, have dropped off about 10% over the last year, but will they go down, probably level off, maybe go down 5% more, maybe at a push 10% but people will just hold the property and give it to family etc, there is no point unless you are strapped for cash to sell.

New financial products arrive in Spain as well so people can release equity in house etc and continue to live in it, so 50% crash, we shall see, I see a gentle downward glide then it will gain wind again. This is probably one of the best places in the world to permanently live. Why sell cheap?

The more people who come and see how nice it is, the more people will come and see how nice it is? maybe in Torrevieja the prices can go down, but here, Denia. Cant see it personally. It is too nice.


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## atlast (May 24, 2007)

We didn't buy because we wanted to be sure we would be happy first. All the articles about the 'crash' seem to be about a reduction in the rate of increase. However, having seen a couple of real crashes in the US, I know what happens to some people.

It doesn't matter very much if you are happy with your home and intend to keep living there, and can afford to. It only becomes an immediate problem if you are forced to sell because of a new job, losing a job, or some other external problem.

If you don't have much equity in the house, you are trapped. Instead of just losing equity, you actually acquire debt as the house value falls. I know more than one couple who had to pay money at closing to get out of their house, because they had to sell for less than they owed.

If you have a lot of equity, you can take your losses and run, but only if you haven't been counting on that equity to fund your retirement or your next house.

Rents tend to fall, as people with houses they can't get out of try and get some income from them while they downscale. The number of places for rent goes up.

So if you want to buy, go ahead. I think you should rent for a year, then buy. Once you are sure you will stay long term, buy, and don't worry about the ups and downs unless you end up in a place you can't afford.


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## Grania (May 29, 2007)

Hi, I have been to Spain for quite a few times on travel and I think living in Spain must be a fine life. When I was there I have heard of some property related sites, spanish property and buy property spain (preparing for my own moving to Spain ) . I hope these could help you a little. Have a good life in Spain!
Good luck!


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## atlast (May 24, 2007)

Even if there is a crash, it doesn't matter if you don't need to sell the house. As was pointed out, if you are doing your worrying on the beach or sitting on a terrace with a nice tall drink, it may not seem so important to you.


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## Fay (Jun 6, 2007)

My advice would be to buy now. In truth, property prices may level out, as we are seeing more and more new builds and constructions popping up, well here in the south anyway. I cannot really see a dramatic decrease in property prices coming, however it is a buyers market, with a good choice of properties, to suit all tastes and almost all budgets. Saying that, renting first is always a good option, until you get a feel for a certain area, because living in a place is certainly very different to holidaying there.


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## atlast (May 24, 2007)

I guess, though, I'm still glad we decided to rent first, considering the way I've been feeling about the place.


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## ellenjoan (Jun 17, 2007)

I can only advice you to rent first...as you want it to be the place where you are going to stay for the rest of your life.

Spain has a lot to offer (sun,sea,...) but has also some....
Too many British expats have lost all their money on bying land and houses that were illegal...

I ve been living here for 4 years and it took me about 18 months before I signed at the Notary's because the papers weren't in order (it's a relief I studied and checked all the papers in advance (= my profession) otherwise I too would have bought a cat in a bag.

Come and stay for a while and check where you would like to live before buying any property...Prices will be getting down in some time...

Wish you all the best !

Ellenjoan


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## atlast (May 24, 2007)

I've heard of people being more or less trapped here, even when they have clear title to the land. They overpay, because the prices are so much lower than at home. Then, when they want to sell, they are limited to the new expat market, because they are the only ones that might be foolish enough to pay so much. 

This problem goes away over time as property values increase. Then it becomes possible to get your money back even selling on the local market.


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## Destination Spain (Jun 17, 2007)

*Rent*

Best advice so far is rent for 6 months or so and get yourself a good independant Abogado/Solicitor. Check with the Law Society in the UK for one nearest to where you are planning to buy.


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## atlast (May 24, 2007)

In the UK? You can get references for Spanish albagados?


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## mkettner (May 31, 2007)

Destination Spain said:


> Best advice so far is rent for 6 months or so and get yourself a good independant Abogado/Solicitor. Check with the Law Society in the UK for one nearest to where you are planning to buy.


Agreed. Getting a first hand experience without any long term risk of being stuck is always the best. Get to know the laws of the land and how business is transacted in a foreign country.


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## atlast (May 24, 2007)

I think some people are afraid the price of property will increase so much that they won't be able to afford what they want if they wait. I've met a couple of people who have the opposite take from me. They wish they had bought something when the first time they thought about moving, because now they will be paying a lot more.


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## rowlandsbb (Jun 30, 2007)

Hi
I am a Chartered Surveyor in UK with very good connections between Alicante and Mojacar They run their business the same standards as RICS
Large enough to have a great range and very good service, but small enough to make it personal so that clients are looked after from finding a property to moving and settling in
I have also bought myself and my view is that provided you pick the right location you will have a very good medium term investment at the same time as enjoying a new life in Spain
The basics are OK with a strong economy
there are also some good investment properties available
If your budget is circa £300k you will get a very nice home but you need not go so high
My wife and I have bought for our winter home near Huercal Overa Almeria on a new small development [ 60 plots] and 2 bed 2 bath villas on 400 m2 plots start at circa 178.000 € plus purchase costs 
Also if you are thinking about going in 12 months now is the time to get started as if the villa is going to be built to your requirements then it will take that long for it to be ready
e-mail if you want details [email protected]
Brian
Brian Rowlands BSc FRICS


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## ellenjoan (Jun 17, 2007)

The good good deals have gone...a few years ago !

If it's my money and my last buy...I'm not buying on the costa ! 
Too expensive,too many problems (bad work), abuses of the LUV law (taking up your land, paying urbanisations costs...) ....

Just my opinion...ve seen too many people loose it all because of bad deals, or illegal houses without them nowing it ("ow I don't speak spanish, i can't verify the documents, I trust my gestor, ...")

Check the "costa blanca news", check on the internet, just don't take their word for it, not even from an Englishman...Sorry,...it's the reality


Eva


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## Ulann (Apr 27, 2007)

The marketing of the property in Spanish
Is the Spanish property market about to crash?
According to the Times, the Spanish property market is about to burst. This leaves many sellers, buyers and property owners in an insecure position. What is going on? Is the real-estate market in Spain really about crash?
The Telegraph believes that there is no reason for any panic. In Spain the prices of the houses have been rising through the roof since 1997. Luckily, this increase is stabilizing. This leaves the market with more realistic prices than in the past, with advantages for both sides, chances for selling are higher and it will go faster and buyers pay reasonable prices. 
According to the Spanish government the property inflation is slowing down from 18.5% in 2003, 17.2% in 2004, 12.8% in 2005, and 9.1% by the end of 2006. The first three months of this year the prices have increased with 7.2%. That is the lowest quarterly increase of the last few years. After the prices have grown with incredible rates in recent years, property prices are finally stabilizing. 
The fact that the Spanish property market is over-provisioned cannot be neglected. Therefore there is a possibility that, in some isolated areas, the prices will slightly drop. But there is little chance that this decrease will occur in all of Spain. The prices of the properties in popular areas like the Costa Brava, Costa Blanca, Mallorca and Barcelona will most likely continue to grow because of their value– but more slowly than recent years. 
Instead of heading towards an inevitable crash, the Spanish property market is preparing itself for a soft landing. Property owners and buyers around the areas mentioned do not have to fear a sudden depreciation of their properties, since these properties will hold their value in the future.

From realestate-dreams.com
lake tahoe hotel
palmas real estate


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## rowlandsbb (Jun 30, 2007)

*Buy now or later*

Hi Martin
The market in most EU countries is slow, UK included but the basics for Spain is good medium and long term -Strong economy and lots of benefit from being in Euro
It's the life style you are wanting and therfore if you are sensible you will find a nice home within your price range which will prove to be a good investment and enable you to enjoy your life 
I can explian fully the history about the scare stories but I have bought this year and have confidence in the overal market but be selective [ just like UK!!]
Costa Blanca is nice and a little inland you can get a very nice house for your budget
I like Almeria between Aguilas and Mojacar... Spanish environment and very good value
New motorway has just been opened and the Spanish High Speed AVE route from Mercia to Almeria has or is about to be approved This will improve access and with that comes improved property values
20/25 mins inland 2 bed 2 bath Villas on 400m2 + plots start from 178.000 € so you do not have to spend a lot of money in Spain to get a nice home
Brian Rowlands BSc FRICS


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## atlast (May 24, 2007)

I agree. There are far too many people who buy then don't like it, and when they try to sell they discover their title isn't clear. Also, foreigners seem to overpay, so that when they sell, they can only sell to other foreigners who will also overpay.


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## Big Pete (Aug 7, 2007)

rowlandsbb said:


> Hi
> I am a Chartered Surveyor in UK with very good connections between Alicante and Mojacar They run their business the same standards as RICS
> Large enough to have a great range and very good service, but small enough to make it personal so that clients are looked after from finding a property to moving and settling in
> I have also bought myself and my view is that provided you pick the right location you will have a very good medium term investment at the same time as enjoying a new life in Spain
> ...


This man knows his stuff  

I personaly went for a resale , no headaches or nasty suprises for me 
And now is a good time to buy , put a few offers in maybe .


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## Stravinsky (Aug 12, 2007)

Think you can have headaches with a resale as well as a newbuild. Same idea apples, just be careful and get a good solicitor.

Property market here now seems on a downer .... think next year will be a breaking point for agents here.

You an estate agent Rowlands?


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## rowlandsbb (Jun 30, 2007)

Yes
specialise via my Spanish Connections between Alicante and Mojacar
Also have bought future intention to winter in Spain and also investment
So I do take a positive view for good locations 
E-mail me if you want any info 
Brian Rowlands BSc FRICS


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## Stravinsky (Aug 12, 2007)

rowlandsbb said:


> Yes
> specialise via my Spanish Connections between Alicante and Mojacar
> Also have bought future intention to winter in Spain and also investment
> So I do take a positive view for good locations
> ...



I'm already here thanks, well ensconced!
Do you think you'll be feeling a squeeze now the property market is faltering? I know many agents are still in denial


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## Sandra (Aug 14, 2007)

Hi, we have an apartment in Costa Azahar (Castellón area), in the resort Marina D´or. I know it´s not the area you are looking for but it´s cheaper than Costa del Sol. The apartment will be ready around end of this year. It has 2 bedrooms, 2nd line of beach, 2nd floor, very sunny, whirl tub, totally furnished, kitchen fully equiped with all appliances. Garage with direct access to the apartment, private storage room, communal swimming pool and gardens, very nice. The price per month for 1 year rental is 600 € (community cost included in the price). Water and electricity costs at your expense. You can contact me for further details: (34) 626 20 50 84. My name is Sandra.


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## jtillyer (Aug 28, 2007)

May be good to keep an investment property in England as the market is booming. You can get them fully managed, this way even if you are renting in Spain you still own a 'slice of England'.


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## rowlandsbb (Jun 30, 2007)

Hi Martin
Have you had any more thoughts about buying in Spain
My wife and I are going over to Almeria next week to pay the deposit on our new villa near Huercal Overa- small hamlet , 60 plots so not holiday complex and 2 bed 2 bath on 400m2 plots from circa 178.000 € No price crash and with the new motorway open and the Spanish High Speed train route about to be decided with a station at Vera Playa, this area has the best growth prospects in Spain
Sept/Oct is the best time to visit to find a home....so if you are still serious give it some thought
Properties bought to live in are for 'living' not just for investment but are also a good medium to long term investment- same as UK
If you want any more info please e-mail me
Regards
Brian Rowlands BSc FRICS


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## Destination Spain (Jun 17, 2007)

rowlandsbb said:


> Hi Martin
> Have you had any more thoughts about buying in Spain
> My wife and I are going over to Almeria next week to pay the deposit on our new villa near Huercal Overa- small hamlet , 60 plots so not holiday complex and 2 bed 2 bath on 400m2 plots from circa 178.000 € No price crash and with the new motorway open and the Spanish High Speed train route about to be decided with a station at Vera Playa, this area has the best growth prospects in Spain
> Sept/Oct is the best time to visit to find a home....so if you are still serious give it some thought
> ...


Good Luck Brian and welcome to Almeria!


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## ssd (Sep 14, 2007)

Buyers can (and should) also consider the private sales route...
Conducting Spanish sales, direct from the properties current owner, is becoming quite commonplace now.
And without agents commission fees bolstering the asking prices, buyers are getting more realistic offers accepted by sellers who still walk away with the amount they need from the sale.


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## synthia (Apr 18, 2007)

ssd, welcome to the expat forum and thank you for the suggestion. I don't think I've seen anything here about private sales before.


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## malc (Sep 17, 2007)

*rental*



atlast said:


> We didn't buy because we wanted to be sure we would be happy first. All the articles about the 'crash' seem to be about a reduction in the rate of increase. However, having seen a couple of real crashes in the US, I know what happens to some people.
> 
> It doesn't matter very much if you are happy with your home and intend to keep living there, and can afford to. It only becomes an immediate problem if you are forced to sell because of a new job, losing a job, or some other external problem.
> 
> ...



Hi ..we are looking to rent rather than buy but find it difficult to find a good website. do you have any advice on the best way way to look for rented properties


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## ssd (Sep 14, 2007)

I can recommend all the W's rentinspain dot co dot uk.


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## ssd (Sep 14, 2007)

I can recommend (all the W's) rentinspain dot co dot uk.


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## algorfa (May 12, 2007)

Hi Malc,

What are you looking for and in which area, if you are looking for something in the area between Alicante and Torrevieja, then maybe we an help you, 

We have one of our staff in Spain at present talking with a builder who has built to let and he has 90 villas let long term with prices ranging from 700 euro per month to 1300 euro per month.

Dave


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## Goldberg (May 24, 2007)

Also try Villas for Rent Spain Costa Blanca | Apartments in Spain | Moraira Javea Denia Spain Rentals., very good people who do this site.


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## sun shines (Feb 11, 2008)

Hello to all, 
I am new here, I have received a message and i do not where i can read it, could you help me? thank you jaja


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## Stravinsky (Aug 12, 2007)

sun shines said:


> Hello to all,
> I am new here, I have received a message and i do not where i can read it, could you help me? thank you jaja


Click "private messages" top right hand corner of this page, and inbox


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