Brian's story, a great read about the joys & pitfalls of living in Spain.

HI all,

Don't want to be mr doom and gloom,but has anybody seen the reports on the news lately about the potential drop in spanish house prices.I hope they are wrong and I wonder if this is certain areas only,any comments please. 

 

This message was last edited by nwetherell on 4/29/2007.

Hi,

I heard about this but I`m not too worried at the moment. My feelings, & I could be wrong is that some people maybe seeing Spain as a bit `old hat` now that eastern europe, Thailand, Turkey etc, etc are offering seemingly better value for money. I feel that the more commercial parts of Spain that attract the `union jack boxer short brigade` may suffer but San Juan hardly fits into that category so hopefully we wont be affected.

Also eastern europe etc have yet to be proved & horror stories abound but even if prices do drop it shouldn`t affect rental potential should it? as it is still a magical place by the sea with a golf course and can only get better.

Cheers,

Roger & Stella

I agree. It may well be that there is a correction in some areas, and when I was in the Costa del Sol 18 months ago I was staggered by how many appartments were being built, and how expensive they were - it was obvious that there was a chronic oversupply problem even then.  Of course Im biased because Ive bought one on calas del Pinar, but I think its excellent value for money, in a beautiful location, in a region that has strict planning laws. One of the important things is affordability; and when we were looking for a second property either in the UK or Spain, there was absolutely no comparison with properties in the UK  in nice locations so much more expensive than here in Almeria province. Its the same old message of looking to the long term. Calas del Pinar is an absolute gem and we still feel very lucky that we stumbled across it. Where in Britain can you get a 2 bed, 2 bath townhouse, 5 mins walk from the beach, with year round warmth and sunshine for £125000???

Paul,

I could not agree with you more. And have looked for comparables.Just hope they get their fingers out now before we need our zimmer frames.

Paul

I think you are spot on. There is serious over supply in certain parts of Spain particularly Costa del Sol and Costa Blanca. Furthermore if you look at average prices in those areas for similar properties compared to ours I think you will see that ours is some way behind. So if there is a correction I dont believe we'll be as affected.

It's also important to know why you bought - is it for your own use? then if so it's not such a worry. If it's for pure investment then you may have to wait a while (Remember the old maxim - don't wait to buy property, buy property and wait!). But Paul's comments about the CDP development and the location make this a find indeed.

Sean