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Discussion Starter · #1 ·
Hello to all,
I currently live in the US with my wife. We have been seriously thinking about buying property in Spain next year with the intentions of moving there in about 3 years.
We aren't sure if we should go for a beach apt or maybe a villa or farm house farther from the beach.
We are targeting the area between the cities of Valencia and Alicante, but we don't want to live in a big city. Smaller places suit us better.
Does anybody have any suggestions, ideas, recommendations, etc. about this? And how about property prices? I understand they have come down significantly in Spain, right?
Thanks in advance.
 

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You really would be better off coming over for a few months and checking things out first before buying property here. You are right about property prices being really low but the price isn't going to rise in three years, some would have you believe that the prices will only get lower.
The problem is if you buy now and move later on what happens if you don't like the area?
It wont be an easy task trying to resell the property or even rent it out.
Once you are here things change as you get to know the place better, what we first had in mind to do has changed somewhat just by living here.

I'd check Spain out first, make sure you can move here with the appropriate visas etc before worrying about property.
 

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Hi, we live about half way between the two and slightly inland from Gandia.

It is a lovely area, stunning mountains and quite close to the coast. The people are friendly the area is still very Spanish.

I prefer this area to say the hotter regions further south although we cant really complain about the weather except maybe the last weekend!

Not really sure about house prices but know friends who have recently had a lot of interest in their property at a similar to what they paid about 10 tears ago and it has sold!

You would have to spend time in Spain to really choose region that you like as it is a big country with lots to offer. Happy planning!
 

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Discussion Starter · #4 ·
Thanks for your response. What is the name of the town you live in? How far from the coast?
Also, you mentioned the weather. What is it like there? We visited the area in the summer time and it was nice and hot. What about winters? We're looking for a place that is warm/hot all year round.


Hi, we live about half way between the two and slightly inland from Gandia.

It is a lovely area, stunning mountains and quite close to the coast. The people are friendly the area is still very Spanish.

I prefer this area to say the hotter regions further south although we cant really complain about the weather except maybe the last weekend!

Not really sure about house prices but know friends who have recently had a lot of interest in their property at a similar to what they paid about 10 tears ago and it has sold!

You would have to spend time in Spain to really choose region that you like as it is a big country with lots to offer. Happy planning!
 

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Thanks for your response. What is the name of the town you live in? How far from the coast?
Also, you mentioned the weather. What is it like there? We visited the area in the summer time and it was nice and hot. What about winters? We're looking for a place that is warm/hot all year round.
Hi - I live almost exactly halfway between Alicante & Valencia - on the coast

we get temperatures in the high 30ºsC in August (feels much hotter because of the humidity) - and today, still early winter really, we had about 15ºC - which is a little higher than it has been for the past few days - we also had very little wind, so in the direct sun it was lovely

however - last night we had temps just above 0ºC in this town - a little higher where I am at about 6ºC - last winter we were into negative figures fairly frequently at night

tbh I doubt you'll find anywhere on the mainland which is guaranteed warm/hot all year round - for Spain, you'd need to be looking at the Canaries for that


one other thing - your flags suggest that you aren't EU citizens - if that's the case I imagine you've started looking into what visa you might be able to apply for?
 

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Discussion Starter · #6 ·
We're trying to escape the long winters (5 months on average). A little cold for a short period of time doesn't bother us. However, we prefer warmth. The more the better. How big is Javea? And how are the property prices there?
Yes, we're US residents and already checked the visa issues.
 

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We're trying to escape the long winters (5 months on average). A little cold for a short period of time doesn't bother us. However, we prefer warmth. The more the better. How big is Javea? And how are the property prices there?
Yes, we're US residents and already checked the visa issues.
...... and don't forget to take into account that you will need to provide private health insurance for yourselves, unless you intend to work and pay into the system.
 

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We're trying to escape the long winters (5 months on average). A little cold for a short period of time doesn't bother us. However, we prefer warmth. The more the better. How big is Javea? And how are the property prices there?
Yes, we're US residents and already checked the visa issues.
I've just looked at you old posts - you're a Spanish citizen? That will make things much easier!

Jávea has about 40,000 residents (only 32,000 on the padrón though - the local govt is trying to do something about that ) - but it retains a feel of being much smaller!

have a look at Fergie's first post on this thread - it describes our home town perfectly :)

http://www.expatforum.com/expats/sp...pain/280745-newbies-question.html#post2545185

property prices are considerably lower than a few years ago - but still generally rather higher than in surrounding towns & villages

here's the tourist website Portada - Portal Turístico de Xàbia - Ayuntamiento de Xàbia
 

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Thanks for your response. What is the name of the town you live in? How far from the coast?
Also, you mentioned the weather. What is it like there? We visited the area in the summer time and it was nice and hot. What about winters? We're looking for a place that is warm/hot all year round.
We are in a village about 20 or so minutes from the coast. Montitxelvo is small only about 600 + residents.
This area boasts 300 and something days of sunshine. It is colder in the winter and rainy days can be quite chilly but they don't happen often.
Its just lovely!
 

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Hi there, I would personally advise you to rent first then that way you can try a few different places before you decide which area you would like to live in. We have been here for 9 months now and all of our neighbours who have been here for years have advised us not to buy, but to just keep renting, so just a thought for you. We love the weather here and the area where we are is beautiful, 45 minutes south of Alicante, but there are so many different beautiful places out there, so honestly you need to be around a few different places to see which is going to be best for you and your wife.
 

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Discussion Starter · #13 ·
Yes, never gave up my citizenship but feel rather disconnected Also, not very familiar with the area. How about the possibilities for renting until we move definitively there in a couple years?
 

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Discussion Starter · #14 ·
Hi there, I would personally advise you to rent first then that way you can try a few different places before you decide which area you would like to live in. We have been here for 9 months now and all of our neighbours who have been here for years have advised us not to buy, but to just keep renting, so just a thought for you. We love the weather here and the area where we are is beautiful, 45 minutes south of Alicante, but there are so many different beautiful places out there, so honestly you need to be around a few different places to see which is going to be best for you and your wife.
The problem is that we cannot move there until 2016 (maybe 17) and if we wait then rent for a few months or years, we fear we'll miss the opportunity to buy at low market rates, which everybody says it's what's going on now in Spain, isn't it?
If we wait too long, prices will go up. We have a limited budget.
 

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I would not be taking the bet that, in 3 to 4 years, Spanish real estate will be substantially more expensive (including currency fluctuations and savings yields over that period) and that your plans will remain perfectly unchanged both in terms of moving to Spain at all and in terms of your most desired property.

In August the IMF predicted another 15% decline in Spanish real estate values, and one real estate company estimates no chance of recovery through at least 2016 given the abundant supply of homes, some continuing home construction, emigration, and demographics. Recovery (if it occurs) will also be spotty, with many areas of Spain taking much longer to recover.

Anyway, no, the forecasts for Spanish real estate are not upbeat. Take your time.
 

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The problem is that we cannot move there until 2016 (maybe 17) and if we wait then rent for a few months or years, we fear we'll miss the opportunity to buy at low market rates, which everybody says it's what's going on now in Spain, isn't it?
If we wait too long, prices will go up. We have a limited budget.
Remember real estate is by definition a very localized market.

Unless you find a dream home that checks all the boxes and you'll regret losing it there isn't a rush.
 

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There are always deals whenever you buy. The house I bought is probably 250K down on peak prices. So I do not care about an additional potential 15%.

What does 15% mean anyway, there are vast differences between people's situations and motivations for selling.

Someone who does not need to sell is going to ask what they think it is worth, but someone who is experiencing financial difficulty, a divorce or a death is more likely to be motivated to sell.

Everything sells even in this market at the right price and in the right location. Out of 4 houses I looked at 3 are now sold because they were all bargains!

So 50% off peak prices is ok for me and I am buying below build cost ( taking 1000 euro per m2 as a gauge).

You can wait for a couple more years for 15% or you can put in a cheeky offer and get it accepted and save yourself a couple years waiting anyway. Also now you have a lot more negotiating power because people knows things are bad and basically have to take a big hit on selling, so if you are buying in the better areas of Spain that might not work in 2016.
 

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There are always deals whenever you buy. The house I bought is probably 250K down on peak prices. So I do not care about an additional potential 15%.

What does 15% mean anyway, there are vast differences between people's situations and motivations for selling.

Someone who does not need to sell is going to ask what they think it is worth, but someone who is experiencing financial difficulty, a divorce or a death is more likely to be motivated to sell.

Everything sells even in this market at the right price and in the right location. Out of 4 houses I looked at 3 are now sold because they were all bargains!

So 50% off peak prices is ok for me and I am buying below build cost ( taking 1000 euro per m2 as a gauge).

You can wait for a couple more years for 15% or you can put in a cheeky offer and get it accepted and save yourself a couple years waiting anyway. Also now you have a lot more negotiating power because people knows things are bad and basically have to take a big hit on selling, so if you are buying in the better areas of Spain that might not work in 2016.
I agree - very few people buy exactly at the bottom of the market, and if they do it's more by luck than judgement. If you get within 10% of the market bottom then you've done well, and I think that if you are buying at 50% off peak then that's good enough as well. However I wouldn't go out of my way to buy now through fear of the market rising. I really can't see that happening for at least 5 years.
 

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The problem is that we cannot move there until 2016 (maybe 17) and if we wait then rent for a few months or years, we fear we'll miss the opportunity to buy at low market rates, which everybody says it's what's going on now in Spain, isn't it?
If we wait too long, prices will go up. We have a limited budget.
If you have a limited budget, then all the more reason to wait a few years until your purchasing power is greater. Even if Spain's economy were to move into high gear tomorrow (and no one's predicting that) housing prices would not go up because there are literally millions of vacant homes in the country, some of which have NEVER been lived in. The supply of housing is far greater than the demand, and it's pretty hard to see that changing in just 2-3 years.
 

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If you have a limited budget, then all the more reason to wait a few years until your purchasing power is greater. Even if Spain's economy were to move into high gear tomorrow (and no one's predicting that) housing prices would not go up because there are literally millions of vacant homes in the country, some of which have NEVER been lived in. The supply of housing is far greater than the demand, and it's pretty hard to see that changing in just 2-3 years.
It depends on the supply in the area you are buying though, not the country in general.
 
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