Property Prices!

Hi - just an observation really on the properties for sale section.

Having been looking seriously for property in Spain for the last 6 months I am amazed at some of the high prices that a number of vendors appear to be trying to obtain!

Some really average apartments are on the market for over 140k Euro!!

Yes some or close to the beach and some are on "golf resorts" - but the prices are way over the current levels.

They must know that the Spanish property market is set to recover at an exponential rate!

As I say - just a potential buyers perspective.

 I think the problem is that people list their property on here and then forget about it...hence the prices soon become outdated.

For this area the avaerage price range is as follows;

2 bed apartments 40k-70k dependant on location and age.

3 bed townhouse 65k-99k.

3 bed villas from 120k upwards.........

These are sale price examples.

If the property doesn't fall into this price range it simply will not sell.

 SO glad someone pointed this out.  As a serious house hunter myself, I spend a part of every day pouring over both Kyero and my bank repo site.  The other day, I dipped into the Property for Sale Direct on here and was astonished by the prices people were asking!!!

Georgia, your prices seem right to me for my area as well - though I have noticed that properties around Alicante are a bit cheaper???  I am tempted to have a look, but I love where we already are!!!

 Will they go lower Georgia?  Using your crystal ball of course.......................

Try using Spanish Estate Agents instead of English Estate Agents in Spain.  English Estate Agents charge more commission so market their properties at a higher price.  Always look at Repossessions for a bargain.  These can be found on the banks own websites by typing oportunidates and the bank name

 Always happy to use Spanish agents or anything else for that matter.  The question is though, not really will 'prices' as such go lower (that doesn't really effect the bank repos), but will it be possible to get bank repos for even less by the end of the year.  Some of the prices already take my breath away - but as I have said before, there is no hurry.   Some of the repos say 'no offers' - but do they actually mean that???????  

We would like to find a place in Calahonda. We've been and liked the place a lot. Our main reason for choosing the area is the transport links. I don't like to drive abroad and the airport is nearI. it's easy to get around on public transport. Every time we look at property the price seems to be round the 140k mark. Is the area exceptional re prices or am I looking in the wrong places for bargains. Any advice appreciated.

 Have a look at Kyero - above.  i.e. under property in the links above.  I have just had a look and they are a bit higher there, but plenty for less than 100000.

Hi, mrpidman. 

I lived in La Cala de Mijas, which you may or may not know is quiet close to Calahonda and agree prices are higher there than elsewhere. 

There are a lot of properties for sale and sometimes because people paid alot and now need to sell,  they don't seem to think that if they drop prices to what they are worth, they might actually sell.

A good tip is go to Spanish Estate agents as their prices are usually cheaper. We rented long term and found that to be the case.

Sorry meant to add this link:  http://casas.trovit.es/index.php/cod.search_homes/type.1/what_d.Calahonda/orderby.price/city.mijas%20costa/

Thanks for that Gents. Yes I have happy memories of La Cala, we went there many times. We are looking for a place big enough to take kids/ grandkids and so I think a one bedroom is a no go. I suppose the prices in Calahonda stay up because of the area maybe. I know that friends have bought inland and got a lot for their money, although the problem re legality is one I think they have faced. As I said, I don't like driving that much and the ease of getting from the airport is one of the attractions. I'll keep looking. Thanks again.

Yeah we are hoping to move back to live in Spain again shortly.

I have looked at areas near to Murcia & Alicante airports basically because of prices and hoping to come out in a few weeks time to look around, but my heart keeps drawing me back to La Cala.

I also do not drive abroad.  Karen

Oops sorry about the "gent" thing Karen

That's ok. I always forget my user name looks like a man is posting and usually put my name at the end of posting but forgot first time.

You can get a 2 bed in Calahonda for 120,000 euro but will need reforming as you go up the hill (dont forget your oxygen mask) the properties become more modern and a well built two bed with rental potential would circa 140k

La cala is more expensive than calahonda and is a lot flatter and you should be paying 170,000  euro for a good property near the beach etc

We paid 195000 in 2005 and one sold in our block recently for 175000 however as the euro is closer to parity than in 2005 we are about even but when you sell the taxes are what kills it

An estate agent client said sales were really improving on the CDS and there isnt a panic on to sell as places further north MALAGA has 15 million people arrive annually and these people need somewhere to stay many hotels have gone under and the private holiday owners are picking up the slack.

My advice is buy now but think 15 years plus treat it as a pension fund

Rod

 Sorry, Rod, but can't agree with your "My advice is buy now but think 15 years plus treat it as a pension fund".  With the way Spain and the Euro are going I wouldn't spare any of my hard earned cash in buying a property at this point!  Unfortunately, I personally, think there is a long way to go before Spain's property prices reach even near low!!  And  I would most definitely not think of it as a pension fund - there are better places to invest your funds!!

I think it is impossible to generalise. Yes, there are a billion or three unsold properties on the market, the banks are the new estate agents etc. etc. However, my guess is 90% plus of these properties that make the juicy headlines are new builds in the middle of nowhere that will never sell, at any price, because they are basically worthless. It would be best to bulldoze the lot and start again. These useless properties that greedy developers threw up (and a few unfortunate dreamers bought off-plan, but mostly they remained unsold) are distorting the picture a bit. Decent properties may not be selling, not because sellers won't drop their prices enough, but because buyers have been lead to believe that they can get a mansion for tuppence. The exchange rate £ to € doesn't help either, because prices don't seem as appealing to UK buyers as when you could get €1.50 for every pound, of course. I think Rod is being very sensible. If you see the property you want in the right location and it ticks all your boxes, be prepared to pay for it. If you just want to pick up something dirt cheap and congratulate yourself on buying a Spanish property for the price of a used SEAT, then knock yourself out - there's plenty of sh1t out there to choose from.

I don't think now is the time to buy, unless one is coming to Spain to settle and can find exactly what they want.      To buy with 'investment' in mind would seem unwise,  but I am happily retired here (for 25 years) so what do I know about the proerty marklet ?

Totally agree with John. Only people who know the true value of their homes will sell them.

This is unless some poor sod who doesn't know better and is told by an Estate agent they are getting a bargain shows up.

Many many years ago even when prices where good a Spanish friend told me if I was ever buying a house not to buy in Summer as they put the prices up when holiday makers come and reduce them again in Winter.

On the complex where I last rented, 2 apartments exactly the same were up for sale. One with a English agent, the other with a Spanish. The English one was advertised for  €30,000 dearer.  Neither of them had sold while I was there.

They have built decent brand new apartments across the road which are cheaper to buy than people are trying to sell 7 year old ones for. 

I do feel sorry for the people who paid high and are having to sell at a loss but it happens in Britain as well.  Karen