There is definitely an increase of interest in property here.

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23 Aug 2011 11:16 AM by georgia Star rating in Algorfa (As seen on .... 1835 posts Send private message

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 Hi Meggie,

People sometimes do not realise it gets cold at night here in the winter,if you have heating it's not too much of a problem because when you live here permanently, you know it's coming......when i say cold,it's not UK cold, just cool.

To answser your question,we are seeing an increased interest in the whole area,not just La finca Golf,the village is very,very popular,it has always been a lovely place to live but now apartments that were 130k+ are now in the region of 50k to 60k....that is proving a huge draw.

La finca property is now at an all time low, price wise which is suprising as the 5 star Hotel and Spa has been open for a couple of years now,the new clubhouse to replace the old one is finished and they are one of the only builders in the area that continue to build.

Average price for a Lola bungalow now is 110k,previously these were anywhere from 180k to 240k.

I would say there is a good mix of Nationalities on there although it would be a little too quiet for me in the winter,but i live here.

To answer your question about investors and people making a permanent move.....people have always continued to move here because of the lifestyle that the area offers as an alternative to the UK,most people refer to Algorfa as similar to a village in the UK 20 years ago,local shops run by local people,everybody knowing each other,local schools,very little crime,children can play out freely etc..etc...

To be honest i don't think there are a huge amount of investors buying for a quick return but long term possibly.

For Example,i had an investor buy a very nice,very large 2 bed apartment in the village last week,the apartment is nearly new so not an old wreck,he came into the office and challenged me to find him something that would beat his return he was getting from the bank.

On 60,000€ he was getting 110 Euros per month from the bank,i found him this apartment and it sold for 54,000€,it has a sitting tenant contracted to it,it will return him 325€ monthly.....the owner also agreed to pay three years community charge which is to be discounted form the price,he now tells me that when this has been completed he wants to buy another one and i believe he will at these conditions.

So yes,there are oppurtunities available.

These price reductions are across the board,3 bed detached villas now start from 100,000€ rather that 200,000€ in the boom.

I have opened another office this year and have higher staffing levels and sales figures for more than 4 years.

The people that are buying seemed to be armed with their own information and tell us why they are buying rather than us telling them why they should.

Some people will take this a hype but you do need both side of the story,as i say if anyone wants to challenge anything i have said then they are more than welcome to come and see me and i will prove it.

Hope you find what you are looking for when you come back over,i know a lot of people that have sold up and gone back to the UK only to return when its gets too much again,try something with central heating this time lol.

Hope that helps...

 



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23 Aug 2011 12:37 PM by johnzx Star rating in Spain. 5242 posts Send private message

I have no way of  knowing what the demand for property is, however, I do get suspicious when I see percentages quoted instead of actual numbers,

 

If last month 5 people enquired and this month  there were 7 enquiries,   that would be a 40% increase in enquiries. Thus a percentage can be very misleading.

 

 

 





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23 Aug 2011 1:05 PM by georgia Star rating in Algorfa (As seen on .... 1835 posts Send private message

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 Hi John,

I have been an agent for 23 years....i never base  my figures on assumptions or enquiries.

Just sales and Money in the bank.

Notary visits and banks statements never lie.

Just to add i know some of the bigger agents are doing far better than i am because of there resources,we often meet at notaries,lawyers offices and unless the clients they have with them are an elaborate prank or paid actors this speaks for itself also.

I think sometimes people make comments without being linked to an Industry.......i dont expect the coach loads to start arriving because i post a positive comment but i would imagine people on the outside looking in would like a balance view and the truth from someone on the inside.



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23 Aug 2011 1:23 PM by johnzx Star rating in Spain. 5242 posts Send private message

 

Georgia,
                   I do hope you did not take my post as a criticism. I carefully prefaced my post by saying I had no way of knowing so I was not agreeing or disagreeing with anyone.
 
 I had just read the web page which you added to a post:-
 
 
It contained only percentages. It was that article which inspired me to make my post.    Having read it I had no idea how the market was doing. I still don't know as I have not seen any hard figures on the number of properties (maybe also the total value) that have been sold this month, or any month, compared with any other month.
 
Maybe I have just missed it.

 





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23 Aug 2011 1:27 PM by georgia Star rating in Algorfa (As seen on .... 1835 posts Send private message

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 Hi John,

No,i never took it as criticism.

I don't think the article was supposed to state actual figures,more of reporting on a trend.

What i was saying is that i agree with it personally as my figures back up exactly what they are saying.



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23 Aug 2011 1:56 PM by alhaurin Star rating. 17 posts Send private message

 Please be aware!

 

Under the new 4% property tax as introduced last week- this only applies to a new property, not a new one owned by a bank due to the developer going bust!

 





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23 Aug 2011 2:50 PM by newworld Star rating. 942 posts Send private message

If  the post below is true, what a waste of time the offer of 4% is, What spanish builder is going to start a project  and have all licenses in place and then find a buyer all this done before the 31st Dec.

 

 

 

 

Please be aware!

 

Under the new 4% property tax as introduced last week- this only applies to a new property, not a new one owned by a bank due to the developer going bust!





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23 Aug 2011 3:54 PM by Patty_1 Star rating in Hertfordshire. UK. .... 1062 posts Send private message

 Hi Shaun.

Glad to hear things are picking up for you. I know in the village a couple of apartments have been sold but to the Spanish, which is quite nice it seems as prices have gone down they are able to get a foot on the ladder. A lot of the Spanish in the village seem to be related to someone in the village, so they keep their relatives informed of what is going..

The Daily Mail had an article about people retiring saying Spain was still popular then Australia and USA how true that is I do not know, I think if I was retiring now and had a good pension to back us up I would be looking to buy. But not to Oz and America to far plus the problem of health care.

But as I have said before we are very happy with our apartment and the view with the sunsets thrown in love it.

Patricia

  



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23 Aug 2011 4:44 PM by rod Star rating in Uk and Spain. 468 posts Send private message

23 Aug 2011 5:22 PM by Patty_1 Star rating in Hertfordshire. UK. .... 1062 posts Send private message

Thanks for that Rod.  Yes I read it last night it does sum it up!!

Patricia



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23 Aug 2011 10:55 PM by meggie Star rating in England. 114 posts Send private message

This is turning our to be a really interesting, informative thread, just the sort of thing I've been looking to read for some time on this site.

Can I just say a huge 'thank you' to the person I called Georgia..I think you must be Shaun...for such a great reply to my question re property sales in Algorfa. It provides a clear insight as to what's happening in the area re the property market.  We are quite hopeful that things are starting to follow an upward trend, albeit very slowly with some considerable time before anyone can say the market is stable.  

I had decided it was far too cold for us around the Almoradi area to return for another winter but, looking back on our time there, it wasn't the weather that was freezing, it was the semi-detached villa we stayed in that was at fault. It had inadequate heating for the 'coolest' months of the year (just one of those naff gas fires built for show rather than heat) with an open staircase that drew all the heat upstairs (had to put a huge curtain across the bottom of the stairs to try and stop the upward flow) and the usual lack of insulation in the building.  We'll choose a better place next time!



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23 Aug 2011 11:49 PM by Patty_1 Star rating in Hertfordshire. UK. .... 1062 posts Send private message

Let's hope the thread stays like it Meggie! 

Yes I can imagine a villa can get cold in the winter months,  I know our apartment can as we are facing a farm so it is quite open. But bought a gas fire and that heats it up lovely. But I imagine you would need more than that in a villa and as you say heat rises. I think most of the villas have this open staircase at least the ones I have been round. I did wonder what they were like in the winter.

We have been to Almoradi a few times mainly to the market but we liked the area.

Well good luck with what you decide.

Patricia 

 



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24 Aug 2011 8:28 AM by rod Star rating in Uk and Spain. 468 posts Send private message

Well what another own goal by the Spanish goverment, can they not get anything right they are so fortunate having a warm and pleasant land, all they want to do is mess it all up all of the time

Please be aware!

 

Under the new 4% property tax as introduced last week- this only applies to a new property, not a new one owned by a bank due to the developer going bust!

Alhaurin you are spot on what a white elephant AGAIN

 


 

 





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24 Aug 2011 11:04 AM by georgia Star rating in Algorfa (As seen on .... 1835 posts Send private message

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 Hi Meggie,

It nice to give an educated opinion without someone jumping down your throat for a change.

Hi Pat and Roy,

Hope you are well.

Hi Rod,

As far i see the new law it is on all new property,as in, that is still in the hands of the original owner.

As it is a new development people are still a little unsure about its full description,no doubt i will find out more in the coming days.

I suppose looking on the positive side,we should welcome any reduction in tax.



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14 Sep 2011 2:07 PM by Sanchez1 Star rating. 853 posts Send private message

14 Sep 2011 2:15 PM by johnzx Star rating in Spain. 5242 posts Send private message

 

Re. The heading of this thread
 
I was extremely doubtful that is was correct,  or maybe should I say,  doubtful that interest was being reflected in increased sales.
 
Quote from a newsletter for property owners in Spain.
 
 

165,000 dwellings sold in first 6 months
 

The Ministry of Development reports sales of 165,000 dwellings during the first 6 months of the year.  
 
Last year the corresponding figure was 260,000 dwellings sold, 33% were new dwellings, the remainder re-sales.
 
28,391 dwellings were sold in July, 34.9% fewer than the same month last year.

 

 



This message was last edited by johnzx on 14/09/2011.



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14 Sep 2011 2:33 PM by EOS Team Star rating in In Spain of course!. 4015 posts Send private message

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I think there are always people looking, maybe just not so maybe actually taking the plunge.

Looking at searches on Google you can see there is a definite downward trend in English...

Spanish property trends

...and spanish

Spanish property trends in Spanish

There's still some way to go before any real signs of a recovery....

Justin



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14 Sep 2011 3:07 PM by georgia Star rating in Algorfa (As seen on .... 1835 posts Send private message

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 Glad to know i am bucking the trend....maybe i am doing something better than the others then?!



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22 Sep 2011 1:16 PM by Sanchez1 Star rating. 853 posts Send private message

22 Sep 2011 2:02 PM by Aaravkmr Star rating in United kingdom . 4 posts Send private message

** EDITED - Spam **




This message was last edited by EOS Team on 22/09/2011.



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