Very Cheap Pisos

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Very Cheap Pisos


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Old 4th August 2020, 02:44 PM
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Default Very Cheap Pisos

I am thinking of purchasing a cheap piso, 12,000 to 16,000 euros in the Alicante region. Elda, Novelda, Elche etc. Does any reader know of anyone who bought such cheap property? They are generally on the 3rd or 4th floor of a walk up. Also, how straightforward is it to find decent reliable trades people at a reasonable price locally. Thanks.

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Old 4th August 2020, 04:05 PM
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I am thinking of purchasing a cheap piso, 12,000 to 16,000 euros in the Alicante region. Elda, Novelda, Elche etc. Does any reader know of anyone who bought such cheap property? They are generally on the 3rd or 4th floor of a walk up. Also, how straightforward is it to find decent reliable trades people at a reasonable price locally. Thanks.
Sorry no idea on average prices in Alicante but they do tend to be cheaper when the piso's in question have
no elevator.

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Old 5th August 2020, 08:49 AM
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Believe you me a flat at that price? Does it exist? In Alicante area flats that are dirt cheap are around 40.000 euros. 12.000 would be a garage I imagine. Anything under 30.000 is not worth touching unless it involved total rebuild or if liveable it would be most probably be in a very undesirable area

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Old 5th August 2020, 11:47 AM
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Do not risk to buy an apartment for such a price in Alicante ! It will highly probable be a trap. You can end to have dangerous neighbors ( engaged in some unlawful activities),
a place that have debts on previous owners (that can be however checked), etc.
We have bought our flat with an agency, and they have warned us about undesirable districts. But one have to check also close by neighborhoods if there are some problems.
You have to come in the evening to see what kind of people are living there.
I agree that may be the min. price to not be sorry afterwards is about 50 000 euro.

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Old 8th August 2020, 04:43 PM
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I don't know anyone personally, but I would expect a flat at that price to be from Sareb stocks, i.e. repossessed by a lender.

Some of those masas y have been untouched by the bank since 2008. Many of them were stripped of anything of any value by the outgoing previous owners so it could be that it has no plumbing or wiring.

There are articles on the web with advice on buying from Sareb stock or similar, but one that I read about a while ago was to check if any neighbours might be family members of the last owners who might not be very welcoming to new owners. The flat you buy for 18K could have been bought in 2006 for 90K and the mortgage still hanging over someone's head. That can make your bargain hard for some to accept.

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Old 9th August 2020, 08:30 AM
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Quote:
Originally Posted by PasqualedeRosa View Post
I am thinking of purchasing a cheap piso, 12,000 to 16,000 euros in the Alicante region. Elda, Novelda, Elche etc. Does any reader know of anyone who bought such cheap property? They are generally on the 3rd or 4th floor of a walk up. Also, how straightforward is it to find decent reliable trades people at a reasonable price locally. Thanks.
Was asked by an acquaintance to check out a very cheap piso in a coastal resort in Murcia. Sounded brilliant. Photos looked good. BUT the area was a filthy dump and where most people would prefer not to walk the street. Personally couldn’t wait to get away..and we were in a car!

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