Property prices on the CDS

[maxd]

My brother thinking of moving down south, he lives in Bulgaria now. He was talking about buying some land and building a kit house. If it were me I would build a stone/brick one but his choice.

I was saying in the current market probably cheaper to buy than build. Anyone down there seen offers that are difficult to refuse?

I guess I am talking about somewhere either near town or up in the hills, not the ghettos by the side of the motorway.

The ones he saw online had small rooms, low ceilings and seemed expensive for a country in crisis with too much property.

[jimenato]

Originally Posted by maxd

My brother thinking of moving down south, he lives in Bulgaria now. He was talking about buying some land and building a kit house. If it were me I would build a stone/brick one but his choice.

I was saying in the current market probably cheaper to buy than build. Anyone down there seen offers that are difficult to refuse?

I guess I am talking about somewhere either near town or up in the hills, not the ghettos by the side of the motorway.

The ones he saw online had small rooms, low ceilings and seemed expensive for a country in crisis with too much property.

Hi. Yes, online prices are in fairytale territory. You have to come here and see for yourself. And yes again, in some places it is probably cheaper to buy than to build.

[Alcalaina]

Lots of kit houses have huge amounts of glass - beware, they are no good for the Andalusian summer. You want thick walls and small windows!

[Cazzy]

There are some very cheap houses at the moment if you are happy to come Inland from the coast slightly. A friend of mine has a wooden kit house and it is roasting in the summer and freezing in the winter, It was actually quite expensive to build.

[mrypg9]

A cheap house will be a cheap house.

[mrypg9]

Now my Spanish neighbour has gone home, I can explain what I meant.

You have to be extremely careful when buying property in Spain as there are so many potential pitfalls. Many houses were built without the necessary permissions and could possibly be demolished. Others were poorly constructed or built in such a way that newer developments nearby have caused structural problems.

There can also be problems of access in bad winter weather for some campo houses. Jo who is a Moderator can tell you all about that: she lived in a villa by a stream which after heavy rain became a raging river and she simply couldn't get out of the house by car or on foot.

There is a glut of property on the market in most parts of Spain and prices reflect this. My son and daughter-in-law wanted to sell one of their properties but the offers they received were just silly so they withdrew the house from sale. I have a British friend who did exactly the same.

Generally speaking, there has been a drop of around 40 - 60% in the market overall although more expensive properties have depreciated less than middle range or cheaper ones. We live in one of the most expensive parts of the CdS and there are houses near us in the million plus euro bracket. They do occasionaly sell.

I can't see any advantage in building your own property when there is so much on offer to suit all price ranges. Of course you will know that Spain isn't like Bulgaria or even the Czech Republic where you can be considered wealthy on a very average income.
If you can offer cash you will most certainly pick up a bargain but first you have to travel around and find an area that suits you.

I am very happy where we are, in a small village (pop.1800) which is predominantly Spanish. If however you are a non-Spanish speaker that might not suit as there is a great deal of bureaucracy to be surmounted in house purchase and many other things.

So I would still say that like everything, when a house is 'cheap' there could be a good reason for it.
An example: a five bedroomed finca with pool, olive grove etc. has been on the market in the campo near here for ages for a silly price. The reason: two years ago a neighbouring property was engulfed in a mud slide after heavy rain and two people were killed.

So 'caveat emptor' is a key principle for anyone buying in Spain - as anywhere.

[thrax]

A friend of my OH's parents built a kit house and has been beset with hundreds of problems, not least of which the house is illegal (crooked mayor now in prison signed the permissions) and he is facing 4 years in prison for building it. The best advice I ever heard was buy a house already built and even if you don't need one, get a bank mortgage. The bank will not lend against a house with any legal problems.

[maxd]

IMO it is better to rent in a falling market and buy in a rising one. With so much on offer rents probably outweigh any benefit of owning. Also you can leave with a month's notice.

My brother is just bored in BG I think and wants a change. What would the rent be on a 300m2 house with pool?

[Cazzy]

Thats a lot of house!!! Ours is 300sqm and its very big!

[xabiachica]

Originally Posted by Cazzy

Thats a lot of house!!! Ours is 300sqm and its very big!

wow - that IS roomy .............. over 3x the average Spanish home and 1.5x the average US home

that's according to this - curiosity led me to look Average Home Sizes Around the World | Apartment Therapy