House hunting Alicante region

[jb44]

House hunting Alicante region.
Head spinning stuff,just dizzy with the houses for sale,feel as though I will be buying into a falling market,especially after quotes of further 30% falls over the next 2 years,so it is on hold,pity because I was ready to buy here.
Next time I come it will be for a pro longed period, think Ill look for long term rental instead of hoping for a buy,just hope some stability returns,but cannot see that for a number of years. What a difference 5 or so years makes

[Hepa]

You will be wise to rent for a start, then if the area does not suit you can always move on to a different location.

[DunWorkin]

Originally Posted by jb44

House hunting Alicante region.
Head spinning stuff,just dizzy with the houses for sale,feel as though I will be buying into a falling market,especially after quotes of further 30% falls over the next 2 years,so it is on hold,pity because I was ready to buy here.
Next time I come it will be for a pro longed period, think Ill look for long term rental instead of hoping for a buy,just hope some stability returns,but cannot see that for a number of years. What a difference 5 or so years makes

What sort of house are you looking for? There are quite a few bargains around our way at the moment as several people are returning to the their original countries (not just UK).

I don't think prices will go down much further. There are a lot of properties being bought by Russians and this is keeping prices a bit steadier. Also, people from Madrid are buying up properties for holiday homes.

Who told you that prices will fall a further 30%?

I do think that renting to start with is a good idea but if you really do want to buy I think now might be a good time.

[djfwells]

Regardless of what the National Institute of Statistics, or the Bank of Spain, or the Ministry for Housing tells us, you are better off ignoring these figures. If you have your heart set on Alicante it is just the local trends and statistics that are likely to be of any relevance to you.
I know 2 long established (10 yr plus) Estate Agents in my Village who tell me that demand is greater than supply at the moment and have each sold a number of properties so far this year.
Sometimes there is nothing more misleading than a bunch of statistics

[Happyexpat]

At the moment prices are steady in the Alicante region. Agents I know tell me that hey expect it to remain so or a very slow increase over the next twelve months. They also tell me that property enquiries have increased substantially but, at the moment, completed sales are low and static.

[jb44]

Originally Posted by DunWorkin

What sort of house are you looking for? There are quite a few bargains around our way at the moment as several people are returning to the their original countries (not just UK).

I don't think prices will go down much further. There are a lot of properties being bought by Russians and this is keeping prices a bit steadier. Also, people from Madrid are buying up properties for holiday homes.

Who told you that prices will fall a further 30%?

I do think that renting to start with is a good idea but if you really do want to buy I think now might be a good time.

Was in one of those free sheets,Spanish banking guy forecasting events. I am here near Alicante for another 10 days ,please direct me to a bargain buy and Ill buy you a crate of beer. Thanks

[Morten]

Originally Posted by Happyexpat

At the moment prices are steady in the Alicante region. Agents I know tell me that hey expect it to remain so or a very slow increase over the next twelve months. They also tell me that property enquiries have increased substantially but, at the moment, completed sales are low and static.

I hope theyre right.

But, have you ever heard an agent say "I believe prices will fall in the next 12months" ?

I havent, as such a prediction would most likely put them out of business - and I recall several agents here, that are now mainly shut down - saying almost exactly the same as above in 2007-2008-2009 whilst the prices kept tumbling around them.

[lilinspain]

Originally Posted by Morten

... and I recall several agents here, that are now mainly shut down - saying almost exactly the same as above in 2007-2008-2009 whilst the prices kept tumbling around them.

Youre so right regarding agents closing since then, at one point there were over 100 agents in Javea alone

Having good friends in the industry I'm led to believe the last 2 months things have quitened of substantially, though theyre not too worried as things are starting to move once again, and last year they had the best year since pre 2006/7.

Its like that with sales, there are dry patches. But as far as Im concerened places like Moraira, Javea, and many other simliar places will always attract buyers, especially during a recession like this when there are some amazing deals to be had. I heard of an amazing deal on a luxury apartment the other day that would have been unheard of in this area, and It's the decent agents that will survive these hard times when such deals exist.

[jojo]

Personally and regardless of the market. I would always recommend renting first, even if its just for a few months. We intended to buy before we moved here but due to circumstances we rented and I'm so glad we did. What we thought we wanted and what we dreamed of was ridiculously impractical in reality. In fact the first house we rented was our "dream house" and we had plans of maybe buying it one day - however, after 6 weeks there, it drove my nuts, too many terraces in the wrong places, too sunny in the summer, too cold in the winter, too far away from everything, a neighbour who used to slaughter his chicken every sunday morning, a quarry up the road that they used to blast periodically causing a dust cloud that blocked out the sun for days - not to mention the dust............ Lovely house tho - you get the picture!

Know the area and what you need once you live here, not the dream!!!

Jo xxxx

[DunWorkin]

Originally Posted by jb44

Was in one of those free sheets,Spanish banking guy forecasting events. I am here near Alicante for another 10 days ,please direct me to a bargain buy and Ill buy you a crate of beer. Thanks

What are you looking for? Townhouse? Villa? On an urbanization or not? Inland or on coast? How many bedrooms? What is your budget.

There are so many variables.

PM me if you don't want to put the details on the forum.

PS I am not an agent. Just trying to help.