# Anyone live in an apartment in Benidorm?



## Steve B (Jul 5, 2010)

Hi all,

I've just returned from a second visit to Benidorm (two weeks last Aug was my first trip) and I'm really keen on trying to take advantage of current low property prices and buy an apartment there. I'd need a mortgage but could pay a reasonable deposit.
I'd plan to stay there 5 or 6 weeks a year for the next 5 years and then I'll hit 55 when I plan to semi-retire. So then I would plan to stay 2 or 3 months a year.
Does anyone live there, who could advise on what the going rate is to buy say a 1 or 2 bed apartment, in either the Rincon or central Levante areas? I accept that front line will be more expensive, I'm happy to walk a couple of hundred metres or so to the beach! I'd be happy to buy one that needs a bit of doing up, but I'm not a builder, so nothing too challenging.

What about the monthly cost of owning an apartment in Benidorm, regardless of whether you live there permanently? I'm just thinking of fixed costs such as council taxes, local taxes, and variable costs such as electricity, gas, water, etc. Obviously I won't use much utilities at first, although I may consider renting the place out, to help with the cost of owning it.

Grateful for any advice that you guys could offer, thanks. 

Steve


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## Leper (May 12, 2010)

Right Steve - some good questions asked - answers might not be too bad either, but be careful. 

You can pick any figure you wish for buying an apartment but, you get what you pay for. Buy the "wrong"apartment in the "wrong" area and you have a mortgaged liability. Do the opposite and things could end up just as bad.

If I were you, I would rent for long periods and in different areas and different locations. Renting is the way to go for a multitude of reasons e.g the downturn of the economies in Europe including Spain.

If you do purchase be ready for about €1500 - €2000 in community fees, refuse charges, water rates, External electricity charges, plus a raft of other charges which will be taken at source from your bank account.

Buying now is not a good option.


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