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I live some of the year in year in Mojacar Playa (Costa Almeria). I love it here and don't want to leave. Some of my neighbours have been informed that property prices in "favoured" areas have begun to increase 2% in a few months and I reckon they are itching to perhaps cash-in. I know 2% is not mind boggling, but appears to be a move in the right direction. Is this mythical or is it true?
 

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I live some of the year in year in Mojacar Playa (Costa Almeria). I love it here and don't want to leave. Some of my neighbours have been informed that property prices in "favoured" areas have begun to increase 2% in a few months and I reckon they are itching to perhaps cash-in. I know 2% is not mind boggling, but appears to be a move in the right direction. Is this mythical or is it true?
Not sure about price rises, although someone I know recently sold a house which I thought they'd struggle to sell as I felt it was overpriced in this market. It was for sale for less than a year and they said they'd accepted an offer 10% below the asking price. More and more properties in my immediate area are being sold - we even met an estate agent we know in a bar last Sunday afternoon, closing a deal with a young British couple.
 

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Let's hope it's true. I would like to sell ours this year, even without an increase. I will believe it when I see it as the forums come up every year with news of an upturn.
 

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There has been a lot of interest recently from British buyers here too, because of the favourable exchange rate. The downside is that the sellers who want to return to the UK will hardly be able to afford a garden shed with the proceeds.
 

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Not in a holiday area and nothing to do with a favourable exchange rate it seems that properties are moving in this area too (Province of Madrid). I think it has more to do with attrition than anything else! 2 people in our road have sold recently. Both say that they gave the house away at a steal just because they were fed up of having a property on the market for so many years (about 5). Both were second homes of people living in Madrid. There are 2 more for sale one of which has also been on the market for about 5 years and is the only residence of the family living there. There are only 12 houses in our street btw.
Building has started up again and no doubt, if the price is right people will buy, but that leaves an awful lot of secondhand dwellings on the market. I don't think it's a recipe for success myself :(
 

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Hi

Let's hope it's true. I would like to sell ours this year, even without an increase. I will believe it when I see it as the forums come up every year with news of an upturn.
I am interested to hear about your property. Tried sending you a PM but if you didn't get it, please send me one with details.

Why are people trying for 5 years to sell? I can't seem to get an answer so if anyone feels like sharing, this will help us to decide if it's wise to retire to Spain?
 

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I am interested to hear about your property. Tried sending you a PM but if you didn't get it, please send me one with details.

Why are people trying for 5 years to sell? I can't seem to get an answer so if anyone feels like sharing, this will help us to decide if it's wise to retire to Spain?
I know a few people who have had their properties on the market for 5 years or more. Mostly (and I am in no way suggesting that anyone here who has a property for sale has done the same) they were put up for sale at prices at the very top (or even more) of what the market was when they were first advertised, and I know of some who refused offers 4 or 5 years ago and have since had to reduce their asking price to well below what they were offered earlier. In some other cases, the houses have obvious flaws which make me wonder why the owners bought them in the first place - things like damp, lack of outside space, no views, awkward layout, etc. With so many nicer houses on the market nobody is going to go for the not so nice ones, are they?
 

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I know a few people who have had their properties on the market for 5 years or more. Mostly (and I am in no way suggesting that anyone here who has a property for sale has done the same) they were put up for sale at prices at the very top (or even more) of what the market was when they were first advertised, and I know of some who refused offers 4 or 5 years ago and have since had to reduce their asking price to well below what they were offered earlier. In some other cases, the houses have obvious flaws which make me wonder why the owners bought them in the first place - things like damp, lack of outside space, no views, awkward layout, etc. With so many nicer houses on the market nobody is going to go for the not so nice ones, are they?
Thanks Lynn but it still begs the question - why are they selling?

What are their reasons for leaving? I know this is a sensitive question, but someone may be brave enough to tell me their story, as it's a big decision we are making.
 

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Thanks Lynn but it still begs the question - why are they selling?

What are their reasons for leaving? I know this is a sensitive question, but someone may be brave enough to tell me their story, as it's a big decision we are making.
All kinds of reasons - some older couples who want to go back to the UK, relationship break-ups meaning the house has to be sold and the proceeds divided, people who want to move to a different area, some houses belonging to younger people who had to return to the UK (reluctantly) to find work once the recession hit and their work dried up, etc.

Not everybody who moves here wants to stay forever, they never did even before the recession happened. But the property market crash made it much harder for people to sell once they decided the time had come to move on, leading to many feeling trapped.
 

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Thanks Lynn but it still begs the question - why are they selling?

What are their reasons for leaving? I know this is a sensitive question, but someone may be brave enough to tell me their story, as it's a big decision we are making.
In my post I'm talking about Spanish people buying and selling to Spaniards, just normal housing market, new job, another child, the need for a bigger/ smaller house, change in relationship...They haven't been able to sell the house
A) Very , very few people were able to get mortgages for a couple of years
B) Jobs are very insecure so people are/ were reluctant to take on more debt
C) Prices dipped so much that the sellers were not making a profit
D) In some parts of the country people were going to make a loss. OK, the next house they bought was also going to be cheaper, but no one expected the effects of the crisis to be so deep and long lasting so they just held on. Especially true for those who had bought as an investment as many, many Spaniards did.

Etc, etc

I'm sure more people could give you more reasons, but basically the recession has hit Spain a lot harder than the UK, and although politicians are keen to put it behind them, workers will find it difficult to. An anecdote, If you're fed up of reading about the crisis, please ignore :)
(Just yesterday an ex collegue from the call centre (remember, the one that went from 500 employees to 30 and now 12) I used to give class in got in touch. She's know been out of work for 2 years and is going to live in the Hague with her partner. He has work - He's a policeman, don't know what kind, but he travells the world(!!) and she will have to see if she can pick something up, 'cos there's nothing doing in Madrid. She's a secretary/PA/ receptionist.)
 

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All kinds of reasons - some older couples who want to go back to the UK, relationship break-ups meaning the house has to be sold and the proceeds divided, people who want to move to a different area, some houses belonging to younger people who had to return to the UK (reluctantly) to find work once the recession hit and their work dried up, etc.

Not everybody who moves here wants to stay forever, they never did even before the recession happened. But the property market crash made it much harder for people to sell once they decided the time had come to move on, leading to many feeling trapped.
Yes there was always a lot of coming and going but when sales were higher it wasn't noticeable. There is so much on sale on the Costas that even getting a viewing is like winning the lottery. Generally I think a lot of property is still overpriced but even some I think are bargains aren't shifting. I know someone who wants to sell and buy a bigger place but have been trying for years. They don't want to leave Spain. I think the only reason bank properties sell is because they come with mortgages as they don't seem a good deal.
 

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Lot's of activity in Javea. A few weeks ago I sent a friend a link to a nice apartment that had come onto the market, it had gone within 2 weeks.

I've met two couples this week who are in town looking.

A new estate agent is opening up. I would have thought that's the last thing Javea needs, but they obviously think they can make money because they're in a large premises in a position that isn't cheap.

Things are moving.
 
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