MURCIA? MAR MENOR? COSTA CALIDA?

  Hi Everyone,

  First post so bear with us if I blabble on and ask alot of questions that may have been answered elsewhere (I did look first, promise!).

  Me and the misses are looking to buy ideally (when we retire in 15 years!) in the CANARY ISLANDS, but property there is just out of our price range at the moment.

  So, we are looking to buy in Spain where we can achieve as many points listed below.  If ANYONE helps with narrowing down my location in Spain and I go on to eventually buy the property/area that was suggessted I'll give you a week free at our place!!! How's that for an incentive to get typing.

  We have just sold our off plan apartment in SUNNY BEACH BULGARIA for a nice profit when it was completed (bought Jan 2006 - sold December 2008).  We would love to do it again and with the profit  buy in the Canary Islands, but do not mind just living it up in Mainland Spain as a holiday place until I retire!

  The criteria I need help with is listed below....I'm sure between you guys & girls I'll get answers to all of them.......Thanks In Advance.

• Looking to buy in Spain with MAXIMUM budget of EUR150,000.

• Need help with narrowing a region first where I can make money on my purchase...time is not a consideration so off plan is an option  (I have researched and narrowed 2 regions for potential capital appreciation and a good holiday home.....MURCIA REGION (Coast Calida) and ALMERIA. Can you suggest others with resons why or confirm my choices?

• Looking to rent out to friends to cover the running costs so ideally within 30 mins 'stroll' to beach MAX, any extra income will be a bonus.

• In the region you have suggessted what is the 'real rental period' where I can charge people to come on holiday and they can still have good weather and get a tan (I'm not talking 40 degrees in December!) just warm enough for them to feel they had a nice holiday and didn't fell ripped off for paying for it.  Please don't say 12 months as I could not send paying friends/family out I assume in December/Janauary when I am sure the temperature drops to the point where only we owners would fly out on a free holiday but wouldn't want to charge anyone to come out if the place is deserted/cold(er).

• Will buy in 'emerging areas' of Spain which are likely to develop into resorts as long as it is costal...are their any emerging areas left to consider?

  If you wanted to know what my priorities are in order of preference they would be :

• Buy off plan for maximum capital appreciation in the best coastal location (within strolling distance to beach/tourist area anyway)
• Make money on my property and sell after the credit crunch has gone/property market picks up again....SO NO RUSH AT ALL TO SELL.
• Buy resale property in touristy area (without making any capital appreciation necessarily) but covering all yearly running costs and enjoying the place for many, many years.

  PLEASE forgive me, I do blabble on, but any advice wether it answers 1 or all of the points will be greatly appreciated.

  Thanks for taking 5 minutes of your life to read this........Sorry!

  1Baloo

Come over to Almeria between Aguilas and Mojacar and you will see some really good deals

There are for example some buyers who have overstreatched themselves and are facing repossession and so are prepared to sell at a figure to clear their mortgage  plus cost with no interest in getting market value

For example there is a 2 bed apartment is a nice establoished complex where the seller paid 185.000 € several years ago and now owes circa 140.000 € and will sell for this amount

There is not room to negotiate on this type of sale and they tend to go quite quickly

Also another one is a 2 bed duplex which is 15 mins walk from the beach in a nice complex and again it is circa 140.000 € but a bit more expensive when bought a few years ago

Really if you are looking for a good deal you have to get on a plane and go over and see

I have sent you a PM but as a new poster you may not be able to read them yet 

Hi Rowlandsb

It is interesting watching the prices fall, what worries me though, is if they are selling due to unpaid community fees, or any property debt for that matter, does the buyer then take on this debt with the property?

Regards,

You make sure that everything is up to date and debts if any paid

Same as with other purchases except that with this type of purchase you are getting a good buy

But always remember that it is only a good buy to you if you like the property, location and it meets your needs!

Ahhh, I see, so where you wrote this:

For example there is a 2 bed apartment is a nice establoished complex where the seller paid 185.000 € several years ago and now owes circa 140.000 € and will sell for this amount

This seller will be using the sale price to settle all his debts on completion.

That's more re-assuring, thanks.

Kind regards,

Hi 1Baloo

Your post takes me back to the time I was looking to buy and I had the same questions and the same hope that I could rent out the place to cover the costs. I know Murcia and the Southern Costa Blanca well and both area's are served well with airports and fantastic beaches and a continual requirement for quality rentals from all Nationalities, not just Brits.

I think that when renting, it is quality that people are looking for alongside cheap, like most people, we all want something for nothing, but if a place is nice and tidy and reasonably priced, then people will rent it.

You say you have 150000 euro to spend, well in todays market, then that should get you a VERY nice place. I know of 3 bed villa's which 2 years ago were on the market for 395000 and are now 195000 so you can get a bargin. These are under 25 mins from Alicante airport and 10 mins from the beach. At present, I would not buy off plan as many of the builders are slowing down or just stopped, they have many key ready places that you can just walk into.

If I can be of any further assistance, do not hesitate to contact me.

Dave

  Rowlandsbb / fibbyuk / Damatt,

  I knew I wouldn't be let down.

  Great bits of info and questions raised.

  Did not get any PM's rowlandsbb as stated so here is my email address (sorry cannot put my email address on here until I have sent 10 replies!!)should any of you have any furthur info for me (if the MODerator deletes this due to any infringement then let me know and I will try to PM you).  Dave I think your right, forget offplan as you never known when the builder will finish but a key ready place, ideally newly built and not shifting!

  You all have places in Spain, I will look at your areas when I get a chance but if you could email me with genuine summaries of what it is like and is it an up an coming place to make money in several years time or more an established place to enjoy.  I can then plan a visit and look as said at actual places whilst out there and see what the area is like for ourselves.

  I am working at the moment on a 14 day stint so bear with me if I do not reply back as quick as I should but I will reply when I get the chance.

  Thanks again you 3, if you fly out to your place and pass any estate agents / for sale signs make a note and let me know.  If I buy in your area then a meal on the town on me and Lorraine would be warmly offered instead of a week stay in our apartment.

  Any extra info you can give will be really, really appareciated.

  If it is private then send to my email address, otherwise submit via this site so it may help others.

  Gracias....getting there!!

  1Baloo

  Sorry everyone,

  Cannot PM you either with my email address!!  But have just asked for permission to do so....await what they say.

  1Baloo

Hi 1Baloo - you won't have the PM facility until you have done ten posts so you will need to chat to us all a bit more!

You post was interesting and I think you will have a lot of choice with your budget.   I am in Orihuela Costa in the southern Costa Blanca - near Torrevieja - and work as an estate agent here.  We have some amazing bargains so take a look at the website and you will see what I mean.  I agree with the previous poster about not buying off plan - it worked for many people before but builders and agents are closing here every day and you really need to buy new key ready or a resale.  If you buy new you need to ensure that a Habitation Certificate has been issued so you will have no problems with electricity and water connections.  A reputable agent will check this for you and your lawyer should do the same.

As far as the future is concerned, I am sure that the market will recover at some point but there is a huge amount of unsold property on the market just now - it will take years for it all to be sold so prices will recover pretty slowly.  As long as you are sure you don't want to sell for a good few years you should be OK.

The weather here has been quite cold this winter - it's my first winter here and people say it isn't usually this cold - but the weather has been lovely and sunny for the past few weeks.  The holiday season is mainly June to September but it is warm and sunny from about April to October and this area doesn't go too quiet in the winter.  There is lots to do out of season here - walking, riding, quad bikes, archery, paintball, cycling, etc etc.  You can rent out property at a lower rate in the off season to help offset your costs but do be careful about your choice of agent as there are some sharks out there!  You are always better with personal recommendations and you will get lots of them here once you have chosen an area.

If you like the sound of the southern Costa Blanca then you can contact me through our website - or keep posting until you get your PM facility!

All the best. 

Hi 1Baloo

We have 'Georgia' on EOS (Shaun) who is a really great estate agent who works his socks off to find you what you want & then he goes that extra mile. He works in the areas you want info on so I suggest maybe you look him up & ask anything you need to. Many of our members will recommend him.

His website is www.distantshores.es

Contact Shaun on info@distantshores.es 

Hi 1Baloo

One other thing that I forgot to mention, was the best advice I was given when we bought.

Dont go with the finance and legal team suggested by the selling agent, do your own thing, there are plenty of English speaking people out there who provide those services, ask in EOS and you will be given lots of recommendations. I am not saying that all selling agents will have some creative agreement with those services, but some will and you do not know. You want someone to look after your well being, not the wellbeing of the agent.

A good agent will also assist you in getting a Bank account and your NIE and there should be no pressure to sign or leave a deposit. If you do see something, then do as you would in the UK go home, think about it, then think about it some more, go back and have another look on your own and if you still like what you see, go back to the agent and take it from there.

The first thing you should do, before you even start looking, is start and learn the lingo, it will help you no end, even if you do not have the confidence to speak, you will listen and hear things and you can comment in English.

Good luck

Dave

Hi Dave,

    I agree with you that a good agent will help his client with the NIE, residencia, etc as these things cost a lot in fees if you have to ask the lawyer to do them. My agent Georgia is going to help with with all these & will save me a lot of money.  I'm very happy to have Georgia as my agent.

  Firstly,

  thanks for all the replies you are all collectively giving me thought for locations I had not thought of Costa Blnaca etc, and confirming or disregarding certain areas....soon I will be able to book a holiday to exactly the area I want and make a detailed visit.

  Claire thanks for your info I will look at tyour website when I get a mo' (I am writing this as I am walking out of the door going to work!)  Can you narrow down for me the ost exclusive area in Costa Blanca to buy property please, I am not a 'snob' far from it I am someone who enjoys a peaceful location with a bit of class but can walk to an more lively area if required....rather than buying in a busy,loud area and have no choice for a quiet night.  This would be most useful.

  Morerosado, I will contact Georgia just to see if I can see what properties he has in my price range.

Damatt your full of it as always...good info that is.

  Got to go...off to work.

  1Baloo

Hi 1Baloo,

The info I give is from experience in buying our own property in Spain. We have drifted into the property finding market as a result of our buying process. I know of Georgia, but do not know personally and I would never quetion someone unless it is proved that someone has done wrong by another. That did happen with me when I bought.

I met a chap in a hotel bar on a fact finding trip and then saw him again the following day at a development I visited and over the next 4 days I saw him again in various locations and at one point I was struggling with my Spanish and he was there again and he spoke with the sales lady and I received the info is was trying to get.

Later I found that he had told her that he was our introducing agent and I understand that he made contact again with her to enquire as to the position with our purchase. Some months later I found out that he had received a commission on the "introduction", so that is one reason I am sceptical with some agents, some are underhanded, others are brilliant, I hope that with the down turn in the Spanish market, most of the riff raff have now gone and it leaves only the respectable and honest ones.

If you want quiet, then try our village, Algorfa, we love it.

Good luck with your purchase, if I can be any assistance, do please ask.

Dave

Hi 1Baloo - you asked for the best areas in Costa Blanca - it is a big area and I will give you some detail here on Orihuela Costa which is at the southern end of the region, next to Murcia. 

Going south to north, we have properties in Campoamor, Villamartin, La Zenia, Playa Flamenca and Punta Prima and these are all very popular areas.  They are all within 5 - 30 minutes walk to the beach and there are quiet and noisy areas within each - for example Villamartin Plaza can be very noisy through the high season but a few streets away it is nice and quiet.  There is a variety of house styles from apartments to quad houses to detached and prices are very competitive at the moment.  Some areas can be very quiet off season but there are always things to do, as I said previously. 

I have a range of properties for sale in Playa Golf at Campoamor and many of them are also available for rent.  If you wanted to have a look at the area this would be an ideal base for your research - you can find the rentals at playagolfresorts.co.uk -  and I would be delighted to show you around the area.

You can get my contact number off our website if you want to have a chat about it.

Happy hunting!