Newbie

Hi.  I'm new to the forum.  Retired and looking for a place where the winter weather will be kind to our creaking bones.  Hoping to find out here how much, realistically, we could expect to pay for maybe a 2 or 3 bedroomed apartment close to the sea but suitable for all year round living?  Will probably use it ourselves in winter time and let extended family use it in summer.  We would, of course, visit and check out potential properties and locations before paying out any money, but I want to find out first if buying in Spain is feasible.  We are also considering buying in Malta. 

All advice appreciated.

 Andalucia

about 450 eu a month for two bedrooms

 hi The Costa Calida is meant to be one of the healthiest places in the world to live, to live right on the cost expect to pay 400 to 450 for a two bed apartment and the prices drop if you go inland by about 10kms.

there is a good website all about the area if you want to life more   discovercostacalida.info

Thank you, SMYTHIE and Mobailey for replying to my query.  Sorry it has taken me so long to respond......due to internet/password issues among other things.

I would prefer to buy rather than rent although the reports about the insecurity of the Spanish property market is daunting.  When I have narrowed down my options on the most suitable region of Spain, I may well rent for a while whilst property hunting.

Being further north, I'm sure that summer in the Costa Calida would be more bearable for me (don't like searing sunshine and oppressive heat) but I'm looking for a place with the mildest winter weather so perhaps the Costa del Sol would tick that box. Property prices and ongoing maintenance costs will also have a bearing on my final decision.  How much, realistically, could I expect to pay for a decent 2 bedroomed property in Andalusia or the Costa Calida?

Primrosmar

If you think you might want to let then check out the legal requirements. Probably almost all non resident property owners do so illegally. A few have paid a very high penalty too.  The utility companies are obliged to report usage so the fact that a property is not standing empty is very apparent.

I know there are many people who are 'stuck' in the system and are renting but as a newcomer you can be careful.  Do not believe people who want to sell you a property, they will and do say anything which encourage you to buy.

On just one point, as a non resident owner letting a property you will have to 24% of the GROSS income i.e. including utility bills which you collect the money from the tenant for,  etc and there are no allowances for maintenance, community charges etc.

Renting is a far better way unless you intend to live here permanentñy.

Hi Primrosmar

Just to let you know we live on the Costa Calida and the average summer temp' here is in the mid 30's C we have recorded over 40 degrees and our back garden and the Costa del Sol is very much the same.  The W.H.O. have stated that the Costa Calida is one of the best climates in the world for living.  As for prices again the Costa Calida is lower than the Costa del Sol.  Out of interest we have our two bed Quad on the market now for 149,000 euros, it was 190,000 new nearly 4 years ago.  The main thing to watch out for is that the property you buy is legal as there were a lot of illegally built houses put up a few years ago, ours was built by a reputable builder (Taray).  There are a number of good websites available which list the properties for sale in any given area.

Don,t let the houses from hell promgammes on the box put you off as we know plently of people here who are very happy living here  

Mobailey:  I have looked at websites such as Kyero and Idealista but the asking prices are baffling.  They vary so much, not just between different areas but wihin areas and even within developments.  I'm sure that your place is lovely but I'm afraid the price is out of our reach.   If I find what I'm looking for at a price I can afford I won't be deterred by the Homes from Hell stories.  I shall be extra cautious.  Thank goodness for those TV programmes and for forums such as this where potential buyers can learn from real people who have been there and have the tshirt to prove it.   We can't send the likes of Amanda Lambe on an all-expenses paid trip to do our house hunting for us.  I think we might have to wait until the Spanish banks start offloading the properties on their books.  Perhaps that will be a condition of any recapitalisation deal.  Hope I don't sound like a carpet-bagger, but I have modest life savings and I'm in no hurry to part with it.

Johnzx:  We wouldn't want to rent out our place.  We would Iet our extended family (siblings, their children/grandchildren and cousins)  use it in summertime but we wouldn't dream of charging relatives for staying in our home.  Would the Spanish authorities accept our word that family don't pay (genuinely in our case) or do they regard all non-owner occupancy as potentially taxable income?  If so, are there set levels of notional income?

I'm in the early stages of this process.  Frankly, I'm not sure whether buying or renting is best.  I like the thought of having our own place, surrounded by our own familiar stuff that we can use any time we like.  On the other hand, renting would give us a base without having the hassle that comes with owning in a foreign country.   The cost of buying and maintaining a property would buy us a lot of holidays.  I just have a mental block where renting is concerned.  

I'm not even sure that Spain is the right country for us.  Programmes like Ibiza Uncovered are more off-putting to me than Homes from Hell.  Is there a place on the Spanish coast that's somewhere inbetween Ibiza Uncovered and the OTT Peurto Banus or Marbella wannabes?  Apologies for the stereotyping but these are the impressions I have formed from TV programmes, newspaper articles and tales from people who have holidayed in Spain.  Surely, there must be somewhere on the Spanish coast where ordinary people can live a quiet, unassuming lifestyle whilst still being within easy reach of public transport and amenities?

Reckon I have a lot of reading to do and many questions to ask before making a decision.  Sorry for the long post.

 I love the area around Mojacar,   Costa Almeria.   Property prices are VERY attractive and about 50% down on the highs.  You can get some fantastic properties for under - sometimes well under - 100,000 euros.   And I would still go in 20000 below asking price.   Have a look at Spanish Properties or Coastal properties - both based in Mojacar.   In the Murcia region I noticed the banks were selling property on Roda Golf for 90000 - again about 50% down.  The baffling differences in prices simply reflects how badly people want to sell, and how many properties the banks are trying to sell. Without doubt, some people are not prepared to face reality and continue to ask unrealistic prices. Slightly inland in the still Spanish village of Los Gallardos, you should be able to get 2 bed 2 bath apartments for around 80000 and a 3/4 bed detached villa for under 200,000.  We are considering going in for a much bigger property than the one we have and I would say if you have the cash you can get something special.  Of course it is difficult to sell so we would be looking to rent our current property long term.  The long term rental market around us is good and we will buy again in this region.  

 Should have added - the banks ARE offloading now.   You need to get hold of some of the info - we had a flyer put on our windsceen when we visited Murcia.   It was a sort of closed bid affair with a final date and prices starting at 20,000 - and I have not missed an 0 off there!!!

Thanks Bri.  I shall take your advice on board.  

Not sure that I agree with you about the banks offloading now.  I have read on the internet that they are offloading small numbers of properties at the kind of auction you described.  But that's just small numbers.  With hundreds of thousands on their books, I suspect they are withholding the vast majority......maybe they don't want to flood the market or maybe they are trying to overstate the value of their assets.  Who knows?  I have a feeling, however, that any substantial recapitalisation will see them forced to sell off the bulk of the properties.  I suppose that where they have full ownership of developerments they will try to offload such developments en bloc, but they must also own numerous repossessed individual properties and selling them off in small, closed auctions would take years.  I'm not so sure that time is on their side. 

I notice that some agents claiming to sell bank repossessions are offering up to 80% mortgages (more credit!!!), which makes no sense to me.  Whilst I realise that the bank will make some money from the mortgage costs, their target market seems to be young people.  Aren't young people most affected by the current recesssion what with job insecurity, existing mortgages on properties in negative equity, etc?  Maybe I'm way off the mark in my assessment, but none of it is making sense to me.

Again, many thanks to everyone for responding to my questions.

 Good luck whatever you decide - though I am not sure the banks will have hundreds of thousands of properties to off load.   We are thinking at the moment that the best thing is to make an approach directly to an owner and see what they are prepared to accept.  I understand that some of the banks properties have been stripped and may not be the fantastic deal they first seem!!!   But at the prices they are asking it is hard to resist looking...................................   I will let you know how we get on.   

 To be honest, Bri, I haven't much of a clue and wouldn't blame you if you said my previous post was a load of rubbish.  I have had a look at some of the on-line auction sites but I'm a bit wary of them.....not sure how they work or how safe they are.  Property market+Spain is a bit of a minefield, so the property market+spain+internet is downright scary.  Think I'll have to get myself over to Spain and have a good look at what's available.

Are you going to that auction?  If so, I would be very interested in any feedback you would be willing to share.

 No, I am not looking at that way of buying.  We love the area we are in, and just think we could get something pretty special for a good price.  We are going to take our time though - houses prices are not going up for a long time!!     The flyer we got in Murcia was closed bids rather than a true auction, but like I say, I have heard a lot of the bank properties are stripped of everything so look carefully at anything you are interested in!!   

 Yes, Bri, I will be very careful.  You're lucky that you have found and are familiar with the area that suits you.  That has to be a huge advantage.  Good luck with your search. 

 PrimroseMar, I have sent a private message with a few more details in of our recent experiences of looking at property. 

Hi there , just been catching up with eye on spain and noticed your thread , just wanted to let you know that we live on costa calida , place called isla plana and love the place , we bought via independant company called ads who dont charge you any fees at all !! well worth checking out there web site .. if you end up getiing in touch mention Tony Henderson told you about it !! good luck , I see its 0 degrees in the uk today ... sorry but 24 blue skys and sun here !!!

 Hi Tony,

Lucky you soaking up the rays in October.  Thanks for the suggestion.  Had a quick look at the website of the ads agency and their cheapest property is a one bedroomed apartment 20 minutes drive from a beach.  Asking price €85k.  Reckon there's better value to be found elsewhere.