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Just back to Ireland after a Month in paradise, was blown away when I saw 9 cranes in the skyline all working, I went to see a few show houses and they told me that the first and second phase was totally sold out, I was amazed to see the progress a lot of Russians are buying up the new property, the IVA is only 4% until the first of December then it goes up to 10%. they should have finished all the other buildings first before they started bulding more I think, what are your views on this......
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From what we've seen over the past three weeks that we've been here on the Costa del Sol, much of the incompleted property isn't worth finishing off. It's expensive to bring badly-started building work up to a decent standard...even before having to complete it and new-builds are selling only if they are of good quality, it would seem.
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´They used to say that the crane was the national bird of Spain but then it became an endangered species!
After a break of about two years, there is a lot of new building going on in Orihuela Costa. They tend to be smaller developments than in the boom years, and are mainly very good quality and very modern, with glass en-suites etc. They are selling out off-plan and we have the frustrating situation of having clients wanting to buy, but there is no availability until late 2014 on some of them.
You can get amazing bargains on resale properties but these new ones are mainly well priced and people are willing to pay a little more for something brand new where they can choose things like kitchens and tiles.
As for the unfinished properties, there are some "skeletons" for sale now and we know of one builder who is buying up some of these and finishing them off. It would be great if all of them were sold and finished off, but it depends on the builders having the finance to do it.
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Claire
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Also lots of building work going on in Quesada. A new type of "executive" apartments (bit square and angular for my taste with lots of glass) have all been sold. A new development on Dona Pepa II with the same type of apartments plus detached houses going up. Builders have already sold all the phase 1 houses even though they are just shells at the moment. Unfortunately, with all the spare land around there, they have built some of them on a plot right next to existing houses and appear to be cutting off all the light and the views over the lake from the rear balconies of those already there.
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Glad to hear this, perhaps the industry has finally bottomed out and is starting to get a few tentative signs of life. Fingers crossed it's the start of some kind of wider recovery... Has anything been learned though?
What I'd HOPE (different to saying may/will actually happen) is that the higher quality construction will become the norm. This might up marings a little and make the whole industry more sustainable and robust in the future, and that the higher margins will bring up wages in construction, and thus allow construction jobs to go legal and be taken up by Spanish youths as a reasonably paid respectable position - something to give them a future.
Still, some good news, and let's hope it is the daylight at the end of the tunnel, and not Merkel with a torch come to deliver a knuckle sandwich!
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I see what you mean I hope it lasts the only problem will they kill the whole thing when the put up the IVA to 10% in December, I think if you buy now in Spain you will make money in the future what amazing prices, A huge 3 bed 2 bath Apartment fully finished outside and inside €150.00 incredible value. And La Boulavard is packed everyday let's hope that Spain will come back as the no1 place to retire.........
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Could it be that local councils can raise more money by allowing builds that would previously have been turned down? In Calpe, a number of houses have gone up to the detriment of neighbours - a short-sighted approach to appease on person and alienate many others.
I know that denuncias have been flying around like confetti though, meanwhile the Ayuntamiento plays ostrich. It is astounding what builders can get away with providing an appropriate "fine" is paid and fighting to uphold the planning regulations, for an individual, is a thankless and expensive task
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All good news but I think hrespana has mentioned a valid point.
For an informed insight as to what's happening in the Spanish property market, good and not so good, I keep up-to-date with Mark Stuklin's site, which includes the latest data here.
http://www.spanishpropertyinsight.com/buff/
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I hope the Russians create the next property boom bubble in Spain. Don't care if the Northern Europeans get pushed out. Hopefully then, the criminal "construction Company", Aifos, will get some turnover and honour all the Court Orders against them, thus getting my €120k back. Hang on, a pig just flew past my bedroom window.
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This is great news for builders and those with relatively low budgets.
What we all want to see is the property market taxed fairly and evenly - re-sales vs new.
We all want to see illegal builds stopped at grass root stage - before they are completed and sold - leaving the new owners to pay the fines and be denied utilities.
We all want to see Cert de habs - provided to thirty plus year old properties that by no fault of an owner who bought ten years ago cannot get a water supply because he is denied a cert de hab.
We all want to see Spanish banks offer owners who bought ten years ago on higher bank rates a re-mortgage at todays bank rate - instead of penalising us by keeping us at those un-affordable rates because it makes more money for them.
It will be great to see those drastically affected by the new train track through Valencia and Alicante properly recompensed for cutting their properties (in every sense of the word - lounges, half pools etc disappeared).
Maybe, just maybe the Spanish have had such a slap in the face for the last five years they've awoken to the fact their income had become highly rreliant on ex-pats money - and that with everyone gone home and not spending they had enough time to look at their greed, sefl indulgence and plain obstinance to truthful, straightforward healthy business dealings?
If this is the slow gradual rise of the economy - lets hope they grasp it and bring things into line, and maybe it might go right for everyone sooner rather than later.
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Yes maybe a small revival is now taking place which is better than nothing, at least it looks like a step in the right direction. For all those people that are about to buy OFF PLAN, just make sure your lawyer has a BANK GUARANTEE in his hands BEFORE paying your deposit, then if the builder's business goes pear shaped you will get all your money back, as we fortunately did, and you wont be left holding the baby.
If you have already paid your deposit then get your lawyer to insist on one, because it is THE LAW, but many builders have flaunted that law and got away with it.
BE WARNED!!!
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 Now Retired and have our money back in FULL via our bank guarantee. Bob and Pauline.
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Signs of recovery?? Come on!!!! Are you serious?? Do you read the newspapers or listen to the news?? The cranes never went away as is absolutely normal in such a crash. There was always some building continuing and they are largely sold cos they are built to demand. The biggest builders have continued to build and even to sell. It does not mean the Market is turning or even levelling out. As a property owner I would like to be wrong but the economic situation in Spain is going to get worse in the short term. The wealth in Russia is concentrated into the bank accounts of too few people. They are not going to save Spain alone. Polaris world claims they sold 80 properties in two weeks in their recent auctions. Fine - but they still have plenty more at around 40000 euros. And this supposedly in the best area to buy in terms of investment.
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Brian
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Love the positive vibe... LOL!
Realism, the straight down the line fact of the matter current situation. It's going to get worse before it gets better... and all the other "relevant" statements about today's state of the planet, I really don't think any of us are blind to these things.
What buyers are blind to are the things the Spanish want to keep quiet about while it's in their interest to line their pockets.
Some motion in the market - whether its big builders building shabby sheds or small builders constructing quelity and vice versa - whoever it is - the fact building is happening is a good thing, its providing jobs, turnover, revenue, wages, tax (if they pay it).
The downside is the re-sale market is being left to rot by the government who are pandering to the banks who are panicking - who are ultimately responsible for the mess.
Polaris World are in as much crap as any other constructor - in fact they I believe were recently bailed out by one town hall taking a development in lieu of debt. Builders are continuing on that ssite under the control of the town hall instead.
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Have we thought about the effects of the construction and property industries with arrival of the Banco Malo? This will launch on 1st December, subject to agreement by the government to be confirmed on 16th of this month. The new bank will be known as SAREB and the first tranche of properties will be released immediately with loans and property equal to Euros 60bn with a further 120bn to follow.
The property ‘discounts’ are said to be around 65% - 65% of what, nobody seems to know, as property prices don’t have a reliable, transparent pricing system here. What will be the effect of dumping hundreds of thousands of very cheap properties on the market? Will it impact on all property values? Is there any benefit in this action?
It is strange that anyone could believe that Spain has turned a corner and the construction industry is regenerating. There are very few mortgages around and buyers/investors are very wary of Spain and its unreliable and tangled property laws, to say nothing of the very low standards of construction the Spanish people accept as normal. Most developed countries would not allow the antiquated and shoddy methods Spain engages.
Until Spain sorts out its corruption, unrealistic laws and stops feeding the worlds press tales of woe by putting clear laws and guarantees in placed proving that it is safe to buy here I can’t see any upturn. If SAREB are predicting a 15 year selling programme, fast recovery is not on the cards, I really wish it was.
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I live in Los Alcazares, Murcia and have seen the odd crane appearing....i can only see the good/positive in this..means folk are buying and employment to some....
Dont think it suggests market recovery but lets hope it never returns to that....
The only nationality we dont see buying anymore(or less) is the spanish but thats because the banks are offering them such good house prices(maybe not be best location) coupled to excellent mortgage package.
Cheers
Graeme
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Isn't there an irony in the possible bailing out of Spain - by Brits - who've already had their properties and money effectively stolen - by the Spanish?
Maybe I'm wrong..?
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ScudaBadger
I didnt realise it was only the Brits that were " bailing out " Spain...and furthermore....didnt realise it was only Brits who had their properties "stolen" by the Spanish....maybe i am wrong???
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Call me a chronic optimist, but I wouldn't dismiss recent sings of building activity in Alicante South (Orihuela, Pilar de la Horadada, etc.) and parts of the Murcia province as insignificant. The reality is that our collective mindset tends to get stuck in negative spirals, just in the same way as during the boom times it got carried away with the belief that precious could only go up.
Experience shows that the bottom of any market is impossible to call and it's often with the benefit of hindsight that pundits agree that it's materialised. Lenon's definition of life being "what happens to you while you're making other plans" may prove relevant on this occasion.
This message was last edited by honeywater on 03/11/2012.
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You are not wrong Graeme !!
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Applogies. Please read "prices", not "precious.
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