# Brits positioning themselves?!



## Xose (Dec 10, 2008)

Looks like whilst buying time may be a tad away, the homework is being done now and sales may well tak off again. After all, it can't be worse than the capital erroding under the mattress 

Brits looking for property bargains abroad - Business News, Business - The Independent


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## Alcalaina (Aug 6, 2010)

Xose said:


> Looks like whilst buying time may be a tad away, the homework is being done now and sales may well tak off again. After all, it can't be worse than the capital erroding under the mattress
> 
> Brits looking for property bargains abroad - Business News, Business - The Independent


"Enquiries soared by 53 per cent last month, according to Rightmove ..." - if they measure this by counting the views on their web pages, it´s probably just people dreaming about escaping ...

I´ll believe it when this is translated into actual sales. But I hope it´s true, for the sake of all those poor souls in Spain who want to go back to their homeland but can´t sell their houses.


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## Stravinsky (Aug 12, 2007)

I agree, but I cant see it making a significant difference for a long time. People will be looking for a good deal on a nice place, and those that are trying to sell the traditional Urbanisation boxes will have to wait forever


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## Sonrisa (Sep 2, 2010)

I have been waiting to buy a small flat in Madrid for a couple of years now and have been watching the prices very carefully. 

I haven't seen any significant decrease in prices. I'm still waiting and hoping that the economic doom and gloom will manifest itself in the property market. It hasn't so far, not in Madrid, at least, and I doubt it will at all.

So unless these brits are looking to buy in cheap and ugly compounds in the south, that nobody wants anyways, bargains are not there to be found.


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## mrypg9 (Apr 26, 2008)

Sonrisa said:


> I have been waiting to buy a small flat in Madrid for a couple of years now and have been watching the prices very carefully.
> 
> I haven't seen any significant decrease in prices. I'm still waiting and hoping that the economic doom and gloom will manifest itself in the property market. It hasn't so far, not in Madrid, at least, and I doubt it will at all.
> 
> So unless these brits are looking to buy in cheap and ugly compounds in the south, that nobody wants anyways, bargains are not there to be found.


Prices in capital cities will always remain high. Madrid is in this respect no different from London, Paris or even Prague.
I wonder what will happen to the very many unfinished, half-empty concrete monstrosities that spoil so much of the Costas. Some could stay empty or half-finished for many years.
I would like to take a small nuclear device to many of the 'urbs' I see as I drive along the A7. There are some particularly awful piles around the Manilva/Sabinillas/Duquesa area.
Who gave permission for these monstrosities? Are there no planning guidelines for new builds?
What will happen to these empty shells?


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## Sonrisa (Sep 2, 2010)

I haven't seen them, but I hear they are horrid. 

I have no idea why these atrocities have been allowed and what will happen to them in the future. . Be my guest and blow them. Cant see a better outcome.

On the other hand, my mother has a villa for sale in Sanxexo and refuses to bring the price down even though she has no buyers. (does anyone here want to buy, by the way?) Many have this mentality, since they dont need urgenly the money they are keeping the prices up in the hope that someone may buy eventually.


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## Xose (Dec 10, 2008)

Sonrisa said:


> I have been waiting to buy a small flat in Madrid for a couple of years now and have been watching the prices very carefully.
> 
> I haven't seen any significant decrease in prices. I'm still waiting and hoping that the economic doom and gloom will manifest itself in the property market. It hasn't so far, not in Madrid, at least, and I doubt it will at all.
> 
> So unless these brits are looking to buy in cheap and ugly compounds in the south, that nobody wants anyways, bargains are not there to be found.



Here's a page showing some good trend analysis based on Feb 2011 sales. Looks like Madrid (already warned about more "Pisos" needed to stop a major price escalation) is on the up. You miised a minor drop at the end of 2010.

Interesting to see where the 20%+ reductions are.... and are not!

http://www.ventadepisos.com/precios/precio-venta-vivienda-madrid_31-30-0-0.html


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## Sonrisa (Sep 2, 2010)

xose said:


> here's a page showing some good trend analysis based on feb 2011 sales. Looks like madrid (already warned about more "pisos" needed to stop a major price escalation) is on the up. You miised a minor drop at the end of 2010.
> 
> Interesting to see where the 20%+ reductions are.... And are not!
> 
> Precio venta vivienda Madrid provincia - ventadepisos.com


oh noooooo!


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## mrypg9 (Apr 26, 2008)

Sonrisa said:


> I haven't seen them, but I hear they are horrid.
> 
> I have no idea why these atrocities have been allowed and what will happen to them in the future. . Be my guest and blow them. Cant see a better outcome.
> 
> On the other hand, my mother has a villa for sale in Sanxexo and refuses to bring the price down even though she has no buyers. (does anyone here want to buy, by the way?) Many have this mentality, since they dont need urgenly the money they are keeping the prices up in the hope that someone may buy eventually.


Probably not a good idea to hold on too long as prices seem to have dropped everywhere....apart sadly from Madrid!
Holding on to property seems to be a Spanish characteristic. Maybe it's because many Brits see a house as a kind of money asset, Spanish people see it first and foremost as a place to live in, i.e. a home...
Dunno


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## Alcalaina (Aug 6, 2010)

mrypg9 said:


> Probably not a good idea to hold on too long as prices seem to have dropped everywhere....apart sadly from Madrid!
> Holding on to property seems to be a Spanish characteristic. Maybe it's because many Brits see a house as a kind of money asset, Spanish people see it first and foremost as a place to live in, i.e. a home...
> Dunno


Property here has always been regarded as a long term investment, as an alternative to cash in the bank. We have dozens of empty houses in the village - the families don't want to sell them or live in them, so they are gradually falling to bits. There is a derelict house in our street owned by a 30 year old woman who works in Madrid - she calls it her pension!


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## 90199 (Mar 21, 2010)

Most of the houses on our street in Valverde are empty, owners absent, some I haven't seen for years, some arrive for the summer fiestas then leave. It is the same all over the Island we are supposed to be a population of 10,500 but I bet the majority live away. One guy has just returned after 40 years in Australia!!


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## drewmyles (Mar 28, 2011)

I hope to move to spain (Alicante)next year but i will rent for the first 6 months to year before i commit to buying i feel this is the best way


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## Alcalaina (Aug 6, 2010)

drewmyles said:


> I hope to move to spain (Alicante)next year but i will rent for the first 6 months to year before i commit to buying i feel this is the best way


Very sensible!


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## 90199 (Mar 21, 2010)

Alcalaina said:


> Very sensible!


That is what I did, ended up 150 miles away from where I first though of settling,


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## xabiaxica (Jun 23, 2009)

Hepa said:


> That is what I did, ended up 150 miles away from where I first though of settling,


we're still in the same town over 7 years after arriving here

& we're still renting

we have moved around the town a fair bit as our needs have changed

during the first year we very nearly bought a house, but are so glad we didn't

as my mobility problems have (unexpectedly) increased there is no way we could live in that house - & almost certainly just about no way we would be able to sell it in the current climate


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## Sonrisa (Sep 2, 2010)

mrypg9 said:


> Probably not a good idea to hold on too long as prices seem to have dropped everywhere....apart sadly from Madrid!
> Holding on to property seems to be a Spanish characteristic. Maybe it's because many Brits see a house as a kind of money asset, Spanish people see it first and foremost as a place to live in, i.e. a home...
> Dunno



I don't really think it is seen as a place to live ( this villa in particular is in the same street where my mother lives) and the fact that all those empty house are slowly falling apart speaks for itself. 
It is more like some crazy fantasy that the area will somehow become very profitable in the future and properties prices will double. 
So people that can afford to keep their properties and aren't in a desperate urgency to sell, will cling to them or put them in the market at exhorbitant prices.


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## MaidenScotland (Jun 6, 2009)

I have bought and I haven't even seen the place but it is the village I want plus my daughter has been and looked at it and told me I will love it and I have a rough idea where it is in the village.. I have great faith in my daughter.


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## Sonrisa (Sep 2, 2010)

Lol

If you don't like it you can always comeback to Egypt!


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## mrypg9 (Apr 26, 2008)

Sonrisa said:


> I don't really think it is seen as a place to live ( this villa in particular is in the same street where my mother lives) and the fact that all those empty house are slowly falling apart speaks for itself.
> It is more like some crazy fantasy that the area will somehow become very profitable in the future and properties prices will double.
> So people that can afford to keep their properties and aren't in a desperate urgency to sell, will cling to them or put them in the market at exhorbitant prices.


It does happen....when I first lived in London Islington was a run-down working-class part of North London. Then it became 'gentrified' and house prices shot up. 
Same thing happened in Hoxton...
But I guess it's not so likely to happen in smaller towns. Maybe in Madrid or Barcelona? It happened in Prague too...formerly rough areas became trendy. We hope to retire to a renovated warehouse loft in Glasgow where the Georgian city centre and riverside has been tarted up to make trendy apartments.
I think that this obsession with house prices is a drag on the UK economy. Buying a house as soon as you can then trading up and downsizing again when you retire ties up capital that could be invested more profitably elsewhere in the economy.
The English have a thing about houses....consider our sayings: 'An Englishman's (sic) home is his castle' and 'Safe as houses' 
Although in view of events of the past year or so that simile might not be in quite as much use....


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## MaidenScotland (Jun 6, 2009)

Sonrisa said:


> Lol
> 
> If you don't like it you can always comeback to Egypt!




Lol no chance.. I bought the apartment that I told you about.. but would you believe it actually had 2 more rooms than the spec told us.. I have a dining room or another bedroom plus a large utility room.


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## MaidenScotland (Jun 6, 2009)

mrypg9 said:


> It does happen....when I first lived in London Islington was a run-down working-class part of North London. Then it became 'gentrified' and house prices shot up.
> Same thing happened in Hoxton...
> But I guess it's not so likely to happen in smaller towns. Maybe in Madrid or Barcelona? It happened in Prague too...formerly rough areas became trendy. We hope to retire to a renovated warehouse loft in Glasgow where the Georgian city centre and riverside has been tarted up to make trendy apartments.
> I think that this obsession with house prices is a drag on the UK economy. Buying a house as soon as you can then trading up and downsizing again when you retire ties up capital that could be invested more profitably elsewhere in the economy.
> ...




I don't know if it still hold true... the UK population are Europes largest home owners.


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## Alcalaina (Aug 6, 2010)

MaidenScotland said:


> I don't know if it still hold true... the UK population are Europes largest home owners.


Spain has a higher owner-occupation rate than the UK - 81% compared to 70%. (I don´t hold this information in my head, by the way - I did some research on it recently.)


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## mrypg9 (Apr 26, 2008)

MaidenScotland said:


> I don't know if it still hold true... the UK population are Europes largest home owners.


It seems that's no longer the case....but people have learnt that property can and does decline in value as well as increase, something rarely considered until a couple of decades ago.


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