how bad is the market?

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13 Apr 2009 12:00 AM by ciara4040 Star rating. 15 posts Send private message

has anyone actually sold any property recently on the costa del sol?

 





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13 Apr 2009 7:54 PM by bobaol Star rating. 2253 posts Send private message

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Don't know about the CDS but on the CB they are still selling.  Many properties up for sale and estate agents going out of business but private sales, at realistic prices, seem to be booming.  I was over last month and the notary was packed with people (all nationalities) signing up as was the solicitors.  Two houses in my street were sold within a couple of weeks, one to a Spanish family from Madrid who wanted it as a holiday home and the other to a British couple who had been renting in the area. Some of the bigger agents are still sticking an unrealistic 10 to 15 percent on top of the asking price whilst others are being a bit more real-worldly and charging 3%.  Also noticed a couple of places that have been on the market for some time and they are still charging last years prices despite the pounds crash.  For example, a two bed flat for 135000 euros still up for the same price even though this will have increase the pound cost by around 35000 pounds.  Others, who have reduced to 100000 euros (still getting the 100000 pounds) have had no problem.

New, off-plan building appear to have stopped with one huge site in Torrevieja coming to a complete halt even though all the roads, lighting, parks etc have been completed.  Just no houses going up and it has been like that since September last year.

Unfortunately, some expats have realised that they can no longer afford it here as the pound drops and cost of living goes ever higher.  Because of this, a lot of property has come on to the market at the same time and, while a lot of it is moving, others read the newspapers which keep harping on about property going down and not yet reaching bottom so some people are waiting until it does reach the lowest possible.  Plus banks are now very wary about giving out mortgages as so many people are simply handing the keys in and going home which leaves the banks with a lot of property on their hands which I am sure they don't want. 

It is also getting harder in UK, France, Germany and other places which means people just don't have the available funds and don't want to take on extra debt when everything is so much up in the air.  Mind you, pound is rallying, inflation is decreasing and some experts (remember those financial experts?  Good, weren't they?) reckon the worst will be over in 6 months time. 





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13 Apr 2009 11:03 PM by Rixxy Star rating in San Pedro. 2010 posts Send private message

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Yes still selling on the CDS, but only if the prices are good. Mainly Spanish, although Finnish and Scandinavians also out looking. Was at notary last week, but it wasnt packed!

Back again this week so will let you know how many people are there, bearing in mind an average sale has around 6 people attending!!

Quiet at the moment due to Easter break, it should pick up again until june then go quiet again for summer. Normal trade basically!



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14 Apr 2009 8:15 AM by rodger Star rating in Lulworth, Dorset.. 59 posts Send private message

I am selling a small appart. on CB but whilst there have been a couple of vists, no takers. And it is well reduced in price offers around 45K.



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14 Apr 2009 11:19 AM by Rixxy Star rating in San Pedro. 2010 posts Send private message

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Yes there are lots of viewers. People for second homes tend to be quite choosy and with so much to choose from, often cant make their minds up! Good luck with the sale



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15 Apr 2009 11:29 AM by ciara4040 Star rating. 15 posts Send private message

hopefully we'll seel soon! it's in the puerto banus area near the bullring so hopefully there will be some interest soon! really need to sell soon so if you know of anyone who'd interested they would be guaranteed an excellent price!





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15 Apr 2009 2:10 PM by georgia Star rating in Algorfa (As seen on .... 1835 posts Send private message

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The last few weeks have seen such a massive turn around in people looking it has been like a mini revival.........

I am so busy i have had to take on a new memeber of staff........

Long may it continue........

Bad Market???  all the clever people are now buying......



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15 Apr 2009 2:21 PM by Rixxy Star rating in San Pedro. 2010 posts Send private message

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Ciara, can you pm me with the info of the proeprty please? Its in my area.



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15 Apr 2009 3:03 PM by TechNoApe Star rating in Duquesa, Manilva. 1277 posts Send private message

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"Bad Market???  all the clever people are now buying......"

Hmm!

Wasn't that what I said a little while ago and got clobbered for being a 'spin doctor' by a certain guy who's name reminds me less of wisdom but certainly of what you find on a beach!

I've been saying for months, IF you want to buy AND can afford it, then NOW is the time to do it, as Mortgage rates will go up eventually and prices won't go down much further now.

Look at the UK... I've been waiting to sell in the UK and NOW I'm putting our property on the market for the 1st time, with everything done that needed doing the Estate Agent, who is a well respected and trusted local agent who we have used before, told me as our asking prices is very realistic, it will sell very quickly!



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15 Apr 2009 8:35 PM by Candyfloss Star rating in Cardiff / Mar Menor. 1605 posts Send private message

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Good luck Techno

It certainly is getting much better in Cardiff. The sales are coming in so hopefully we're over the worst. As you say, as long as it's priced reastically it will sell. Look forward to hearing you telling us you have an offer

 


 



This message was last edited by Candyfloss on 4/15/2009.



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