# Property prices Fuerteventura



## Jock719 (Nov 7, 2013)

Good evening all, now that our search has progressed quite significantly via the wonders of the Internet, I am slightly puzzled about the prices attached to houses, in as much as- are the prices set, or is it offers over or thereabouts or do the prices bear little or no resemblance to what one might offer. The only reason I ask is that when we viewed a property some months ago on Fuerteventura,the price came down by 20k over the phone and then by another 10k whilst we spoke on the driveway of the property with the estate agent. .....frightened us off, although it was a nice house!

I am a bit confused as I view properties as to whether I should attach much significance to the asking prices or not....
Thanks in advance for any insights.


----------



## 90199 (Mar 21, 2010)

It is a buyers market, you can try and negotiate, it depends on how desperate the sellers are. However if it is a locals property, many will not negotiate at all, preferring to wait for better times.

Properties in the Canaries are one of the few things that are more expensive than the Penninsular, especially the Northern part of Spain.


----------



## Jock719 (Nov 7, 2013)

Yes, you are right, so is it fair to say that the asking price is what might be expected in an offer, or thereabouts? Similar in a way to the UK system. I have heard, from an island estate agent, that the asking prices are only a guide and that significantly lower offers are being made and accepted. I'm trying to formulate a strategy for selecting the best properties to view when I'm on the island over Christmas. Fotocasa has a lot in my price range just now.


----------



## 90199 (Mar 21, 2010)

Jock719 said:


> Yes, you are right, so is it fair to say that the asking price is what might be expected in an offer, or thereabouts? Similar in a way to the UK system. I have heard, from an island estate agent, that the asking prices are only a guide and that significantly lower offers are being made and accepted. I'm trying to formulate a strategy for selecting the best properties to view when I'm on the island over Christmas. Fotocasa has a lot in my price range just now.


I think you have summed up the situation adequately, start low, there are plenty to go at.

We bought our cottage 12 years ago and had to pay the asking price, just over 50,000 GBP, the three owners, brother and sisters wouldn't budge, but we think we have a bargain.

I have had an apartment for sale for four years, we have lowered the price sacked the estate agent, not one viewing in all that time, why? with 37% unemployment, there just isn't the money or loan facilities available. We are wanting to sell then upgrade so we are not desperate. Having said all that we could have rented the place out, from the many rental enquiries we have had. So you see, being a cash purchaser, with an income, you are at the moment in the pound seats!


----------



## Jock719 (Nov 7, 2013)

Thanks Hepa, good response. When we do make an offer, we will be cash buyers as such, so I suppose that is in our favour too. Additionally, we want to live in a locals village, that's an absolute which won't be compromised on, so that rules out a lot of the more flashy complex type properties. Three bedroom cottage/villa/farmhouse up a hill in a village and we happy! As I say, I am trying to get some kind of strategy together for when we are out for 2 weeks at Xmas. It's immensely frustrating looking at Internet sites from cold and wet Scotland....


----------



## 90199 (Mar 21, 2010)

Yes I can imagine, but the crisis shows no sign of ending yet, so the property market is static.

Ours is an 8 room bungalow, in the capital, with a garage, wash house, and a bodega, posh Spanish word for a shed, we have two huge water storage tanks, the water we use for our 1,500, square metros of terraced gardens. We think the house is over 150 years old

Today we have pumped 3000 litres of rainwater from the aljibe to plastic water butts on the terraces.

We haven't had any prolonged downfall of rain since last November, when in 24 hours we had 13 inches, causing a landslide in the garden.

Good luck with your search, I'm off to the watering hole, with the BossLady


----------



## Jock719 (Nov 7, 2013)

Thanks for your help, enjoy and Goodnight


----------



## Chopera (Apr 22, 2013)

My brother in law saw a property for sale in Madrid 2 years ago with asking price around €250k. He later phoned up and they said they had accepted an offer verbally, so he made up a completely speculative offer of €170k on the spot (nothing to lose). He was very suprised to hear the reply that they'd think about it. Apparently the offer they had previously accepted was much lower still. They ended up buying the place for €170k but it gives an indication of what people are willing to accept. Stupid really because if they had reduced the asking price to say €200k they might have got more offers. But it seems the typical Spanish seller doesn't think like that.

So based on that, and other anecdotes I've heard, the thing to do is go round making speculative offers of at least 30% off and inevitably someone will bite.


----------



## xabiaxica (Jun 23, 2009)

we were looking at a house near me about 2.5 years ago - it had been on the market for quite a while by then

they wanted near to 500,000 for it -my husband offered something like 400,000 & was turned down


it just sold for about 300,000


----------



## Jock719 (Nov 7, 2013)

Thanks both, I'll need to develop a brass neck and make some cheeky offers.....


----------



## Chopera (Apr 22, 2013)

Jock719 said:


> Thanks both, I'll need to develop a brass neck and make some cheeky offers.....


You can make cheeky offers on the idealista website where it says "¿cuánto pagarías por este inmueble? recibir aviso si baja de precio". Your offer will be sent to the seller - and they'll probably ignore you. But you never know. One of my tactics was to say "I'm in a position to pay "x" for this property, are you interested in showing it to me?". That way you have framed any potential price negotiation up front, and you are less likely to waste time viewing properties where the price won't be negotiated down enough.


----------



## Jock719 (Nov 7, 2013)

Chopera said:


> You can make cheeky offers on the idealista website where it says "¿cuánto pagarías por este inmueble? recibir aviso si baja de precio". Your offer will be sent to the seller - and they'll probably ignore you. But you never know. One of my tactics was to say "I'm in a position to pay "x" for this property, are you interested in showing it to me?". That way you have framed any potential price negotiation up front, and you are less likely to waste time viewing properties where the price won't be negotiated down enough.


I did wonder if you were able to do that on the site! Great! As I have said we are out for two weeks over Christmas and it would be nice to do as much groundwork as possible before going. ...it's a howling gale here in Argyll today, so a good afternoon for another perusal of the sites!

Thanks for your help, will let you all know!


----------

