Is Now The Time to Buy or Sell ??

Sound thinking Harry, happy hunting.

 A Place in the Sun today (filmed summer 2012) looking at property around Murcia.    The voice over clearly stated that this 'is a great place to buy because of the new airport and the massive theme part which is being built'.    Now call me pedantic, but laying a foundation  stone is hardly 'being built' .    Unbelievable.  A show which helped to push up property prices is now helping to push them down by indicating 'you can get it for less'.     Full circle or what??

Why do people continually "knock" buying in Spain . No matter what a  "Place in the sun says" people have always and will always dream of a holiday property where you can nearly always guarantee good weather. Costa Calida over 300 days of sunshine a year and only 2.5 hours from the UK with lots of low cost airlines going there ideal and a property costs a lot less than Costa Del sol... Yes Paramount Park foundation stone is not exactly the start of building... But the Airport at Corvera IS BUILT and despite delays and set backs in opening  it is still moving in the right direction and due to open April 2013 . No doubt with an expanded capacity ( compared to Murcia Airport) when it opens It will have a very positive effect on the area. Travel to and from is an important factor when buyers look at holiday property. Look at "the big picture" its a coincidence or what ??... or obvious to some .. Paramount Resort will be built within 10 minutes of Corvera Airport.  its the World Recession that reduced prices not a Place in the Sun. Murcia is the new Florida..

Polaris World Resorts are currently offering properties at what appear to be competitive prices eg 40,000E for 2 bed apartment.

Just wondering what the catch/downside (if any) might be ???

Harry

 Excuse me Aliton - if you had looked at the thread you would see that I already have a place in Spain and I never, ever knock it.  

What I do knock, is estate agents deceiving buyers.  IF Paramount happens it will be good for Almeria too, but it is by no means certain.     Nor did I say programmes like PitS caused the drop in prices.    

I am in Almeria, but I stay in Los Alcazares regularly.  I can tell you, Murcia is not the next Florida!!!!   If it is - I am out of here.

I love Florida, had property there, love America.  But I don't want Spain turning into an extension of it.

Ref  Question ..Harry07  .... your not royalty are you H ?

Re : your question on Polaris whats the catch.. none really ( Thread.. is now the time to buy or sell ?). We looked into buying at Polaris World Resort at Condado. stayed on holiday twice in Rented apartments... thats how you get all the "real story" about living on this type of Resort. Property now available with mortgages at just 40,000 euros when plans were launched same ones were over 100,000 ! .

"The upside" is that they are well built to a specification  that  you could expect for 100k. Many have never been lived in so you are buying from BANK STOCK and so "take it as seen" and you might not get the best area at this stage i.e near pool, near shops etc etc. If your looking for a bolthole quiet place in the sun thats easy to lock up and go away knowing it will be looked after , dont need lots of nightlife but prefer to join into community events. If you are a golfer a big plus, Condado is getting better every year the more properties are sold the more the facilites are improving. Many have a roof terraces but if you look at "Polaris world" web site it has been showing "Last few" for 2 years.Now "Last few " is just about right and i cantreally see prices going any lower.  £32k in Sterling has to be a good bargain. for 2 bedroomed with sun terrace

"The downside" probably not much happening in the winter if you want to use all year Lots of rentals available with very little uptake for now. If you like quiet , sunbathing, place for family and friends to share, good community spirit and security in nice gardens with miles of roads to walk or cycle without leaving the complex ,   this place will suit your needs, Google Polaris World Resorts Condado de Alhama

"Question ..Harry07  .... your not royalty are you H ?"

Uncalled for to be so defensive !!

 With it being splashed all over the news that Paramount are to build in kent and all the local council seeming to be all for it i would worry that the spanish one could be put on hold for a fair while yet.As people have said rent first make sure you like the area and then do your homework as to regards as what is selling and at what price, then work out what you need and what you can afford once you have done this you have to decide weather you believe the market has further to fall ( I DO ) if the fall is worth waiting for or you wish to have your place to enjoy with your family now as timing in my eyes is everything when it comes to children and the stages of their lives.

One thing my mum always taught me was that " there are a lot of poor people all they have is money."

good luck to everyone looking to have a slice of happiness its priceless.

Maybe rent, or (if finances allow) just stay a few nights in a nice bar-hotel then move on to explore somewhere else.  Crucially, I feel you need to be able to make an offer and be free to go ahead with the purchase, as soon as you see the place that is exactly right for you.  If I'd been trapped in a 6-month rental contract when I saw my house, I'd have been gutted not to be able to make an instant decision to go for it, or to have to pay rent for months after completion.

In the end there can be no rules.  We all took a different route to get here, and there is no "one size fits all".  For those still on the hunt, and I'm thinking particularly of Gerry, Harry, MaddieMack and others, plough your own furrow and walk your own walk :-)   And you'll know when you've walked into the house that will be your home.  And if it's a HOME you are after, the market is just fine right now.  If it's an INVESTMENT you're after, I don't think we would all have been in the kind of conversations we have had.

As you say, we all take divergent routes. On balance, renting initially for about 6 months might limit the risks for some people.

Reasonably sure we will buy something next year purely for recreational use & with no "expectation" of making money - at least thats the mindset !!

Cheers,

Harry

 It WAS just a little joke... harry07 ..... ie "Prince Harry07 bond"...  no offence meant as you have seen by the thread I am offering advice

No problem at all my friend & many thanks for helpful PM !

Prince Harry

Camp Bastion

Extract from a New Sheet:-

140,000 properties offered for sale

On the web pages of the banks which financed the follies,  there are 140,000 properties at the moment. Banesto is offering 1,000 properties in Alicante, Valencia, Murcia and Cadiz with re-payments of less than 9 euro per day!  BBVA has properties in Madrid from 32,800 euros and NCG has almost 900 at prices from 33,700 euros.  Bankia is auctioning off 1,100 properties with reduction in prices between 30 and 60%.

Prices continues to drop

Prices for dwellings fell by a further 9.5% in the third quarter year, compared with the same time last year.  With this fall, the average price of dwellings in Spain is down to 1,554 euros per m2 constructed.

Have we now really reached the bottom ?   Has the time come to invest ?

No, not yet.  Shortly the ‘bad bank’ will start the sale of dwellings with major reductions in prices.

What are those with the rose-tinted glasses of yesterday saying today?

 Well I don't think I have every been rose tinted in my vision, in spite of believing that there are good properties out there at incredible prices already.   I would say that when we talk about the decline of the market, or the bottoming out of the market - we are talking statistics and averages across a region.   There are properties that will not go any further because they are already rock bottom.   I don't believe the Polaris World ones for example, will go below very much below the c 40000 you can get them for now - because it becomes not worth selling them.    Also the distress sales, where the owners will take well below the advertised price - I don't believe these will go any lower either.   SO, going round again to where we started - if you want a property because you like it and dont want to make a profit, there are great buys.  You do have to balance the possible effects of the austerity drive though, so it is not for the faint hearted.  

Shortly the ‘bad bank’ will start the sale of dwellings with major reductions in prices.

That might have a serious impact on the market.

 Well I don't think I have every been rose tinted in my vision, in spite of believing that there are good properties out there at incredible prices already.   I would say that when we talk about the decline of the market, or the bottoming out of the market - we are talking statistics and averages across a region.   There are properties that will not go any further because they are already rock bottom.   I don't believe the Polaris World ones for example, will go below very much below the c 40000 you can get them for now - because it becomes not worth selling them.    Also the distress sales, where the owners will take well below the advertised price - I don't believe these will go any lower either.   SO, going round again to where we started - if you want a property because you like it and dont want to make a profit, there are great buys.  You do have to balance the possible effects of the austerity drive though, so it is not for the faint hearted.  

Agree 100%.

 you know what they say,there are white lie,medium lies,big lies and then statistics!!

and btw,who do you think the politicians are asking??

I do regular interviews and a spanish property series on tv.....if i say the sky is pink, they report the sky is pink!

 Yes, the statistics show this further fall - but that does not mean that those who bought in the second quarter got a bad bargain.  Some of them will have been at rock bottom prices already.   And there are areas of Spain where AVERAGE prices have not fallen so much - so again, people buying in those regions are not losing out.   Just apply statistics to the UK market - you will see how misleading they can be!!