Expat Forum For People Moving Overseas And Living Abroad banner

1 - 20 of 49 Posts

·
Banned
Joined
·
1,832 Posts
Discussion Starter · #1 ·
Assuming you are a UK buyer that is, exchange rate looking good for those thinking about the move.
 

·
Registered
Joined
·
439 Posts
We found property is selling now, we saw a couple we liked that we took a day or two to think about that sold by the time we decided they weren't right :)
 

·
Registered
Joined
·
8,252 Posts
I was speaking to an estate agent based in Torre del Mar on Monday (just a social chat) and she told me she is running out of properties in the town where I live, as she is getting so many requests. An examination of her website shows 36 properties there, some of which are marked sold, so that may be something of an exaggeration!

But a friend of ours whose house has been on the market for years has had two viewings within the last 7 days.
 

·
Registered
Joined
·
6,016 Posts
Will UK owners still be prepared to sell if they are hoping to return to UK. I am not sure. If they have reduced a lot and now lost another 15% or so will it be worth selling. I have friends whose house has been on sale for years and they thought that the price reduction would be offset by the low pound but not so now. They have resigned themselves to sticking it out.

As for running out of houses, just had a little peek.....in their dreams:lol: maybe about 2020. Or 2025 if they start building again.
 

·
Registered
Joined
·
8,252 Posts
If you mean the total housing stock, sure. But how much of what is for sale would ever have been of interest to foreign buyers, even before the crisis?

In my town, there are 644 properties listed for sale on idealista, for example (and some of them are listed more than once, by different agents, so the real total is less). Probably 75% of them are flats in the town centre blocks, which are never going to be bought by foreigners, so the number of houses on urbanisations or townhouses in areas which foreigners like which are for sale is a lot lower.

The total number of properties on sale isn't going to reduce dramatically until the Spanish domestic property market improves.

I was reading somewhere the other day that prices have actually risen since the beginning of this year in Nerja, Estepona and Manilva, and wasn't it posted here fairly recently that property prices in Javéa had increased by about 11%, the largest increase in the country, I believe.
 

·
Registered
Joined
·
6,016 Posts
I take it with a pinch of salt:D I know Manilva and it has block after block of unsold coastal properties. Never been very popular, too far from airport. I don't know about Nerja but I can't see it happening on the Western CDS.
 

·
Registered
Joined
·
473 Posts
On our street, at the beginning of the year, 5 houses came up for sale. One was priced to sell. Two seemed to be priced correctly, and the other two seemed too high. For the last two I thought "Yeah, good luck guys. The for sale sign will be up for a few years."

All 5 of them have been sold.
 

·
Registered
Joined
·
8,252 Posts
On our street, at the beginning of the year, 5 houses came up for sale. One was priced to sell. Two seemed to be priced correctly, and the other two seemed too high. For the last two I thought "Yeah, good luck guys. The for sale sign will be up for a few years."

All 5 of them have been sold.
Funny you should say that. Someone we know put their house up for sale late last year and I thought at the time it was overpriced compared to other, larger houses in the same area, but they sold within 6 months and accepted an offer 10% below the asking price. The buyers were German, and I don't think they're renowned for paying daft prices.
 

·
Registered
Joined
·
50 Posts
We just closed on a property in Malaga, we were looking in the Historico centro. Last February when we went to look, 3 of the 5 properties we were interested in had gone under contract before we even arrived. Our place was originally put up for sale 4 years ago but would not sell, they put it back on the market this January and we put it under contract in February and they had 3 other folks from Nordic countries very interested. One couple asked my realtor if we would be interested in selling to them!
 

·
Registered
Joined
·
6,016 Posts
I got hooked into looking at Idealista yesterday. Some real bargains and some really overpriced. I wonder why some haven't been snapped up. Amazing to see the amount of properties on sale. over 11,000 in Benalmadena alone:eek:
 

·
Registered
Joined
·
512 Posts
I got hooked into looking at Idealista yesterday. Some real bargains and some really overpriced. I wonder why some haven't been snapped up. Amazing to see the amount of properties on sale. over 11,000 in Benalmadena alone:eek:
What we found in the south, and as a few here have advised, the photos on the sites can give a very false impression. The block of flats or smelly factory next door that somehow didn't make the fotos :rolleyes:

But for sure Isobella we find that you can take the asking price with a pinch of salt to be very frustrating. Some won't budge from it, others halve it because you showed the minimum of interest.

Sadly up here in Asturias our village is suffering. Tourists (95% Spanish) are way down. And the number of closed bars, shops and restaurants is the highest I have seen in 8 years. And that despite recent years of investment in free attractions, new promenade, new pedestrian areas, .......

The sad thing is to see restaurants refurbished, opening with optimism, and then closing in 2 years :(

The bagpipe festival last week was poorly attended as is the current in the plaza summer cinema. Tonight in the theater I don't expect to see 60 attendees for a good black comedy "Carne de gallina" (tickets 5 euros). And from Sunday live classical music (both in and outdoor) plus live groups and the local brass/jazz band are I suspect not going to fair better.

And all these events are free (except teatro but it is subsidised) so one cannot say the townhall are not trying.

Property prices have held up better than national average here in the past for houses but flats have tumbled. And I expect from the increasing number for sale it will still get worse :(

Hopefully it is a local issue but one would have thought with a heat wave in the rest of Spain and Asturias with a barmy 18 to 26 degrees and very green scenery that the latter might be rather attractive.
 

·
Registered
Joined
·
6,016 Posts
that sounds sad. We once came back on the ferry with some bagpipe players from that region. They also had a choir with them. They were on their way to a festival in Wales. Lovely people. They really livened up the ship with their singing.
 

·
Registered
Joined
·
4,959 Posts
that sounds sad. We once came back on the ferry with some bagpipe players from that region. They also had a choir with them. They were on their way to a festival in Wales. Lovely people. They really livened up the ship with their singing.
Yes - Asturias proudly boasts it's Celtic connections and has played host to a number of Celtic festivals
in the past.
 

·
Registered
Joined
·
70 Posts
I've been looking at property in Spain for months, but have been waiting for the interest rate hike forthcoming in the autumn. Predictions are that the £ will keep rising to beyond 1.50 euro to the £. When I've been looking I try to aim at non-UK owner properties, thus, to avoid the wouldbe UK seller trying to recover as much as possible from the poor euro rate.

Biggest concern for me (potential upcoming buyer) is the declining euro stability, which by all accounts really is in a shocking state. House of cards situation ...
 

·
Registered
Joined
·
834 Posts
I've been looking at property in Spain for months, but have been waiting for the interest rate hike forthcoming in the autumn. Predictions are that the £ will keep rising to beyond 1.50 euro to the £. When I've been looking I try to aim at non-UK owner properties, thus, to avoid the wouldbe UK seller trying to recover as much as possible from the poor euro rate.

Biggest concern for me (potential upcoming buyer) is the declining euro stability, which by all accounts really is in a shocking state. House of cards situation ...
Why worry! When the euro finally goes tits up (as it will eventually, one way or the other) the pound will get even stronger. Just think how many pesetas you will get to the pound! (but only good news, of course, for those of us lucky enough to have a sterling income).
 

·
Registered
Joined
·
4,959 Posts
Why worry! When the euro finally goes tits up (as it will eventually, one way or the other) the pound will get even stronger. Just think how many pesetas you will get to the pound! (but only good news, of course, for those of us lucky enough to have a sterling income).
I shouldn't get too smug about the rising pound against a falling Euro. With the EU
and the Eurozone being the UK's biggest customer. Any significant rise in the
pound is bad news for British Exporters, as EU customers look elsewhere or trade
more heavily within the Eurozone.

Of course those high value German cars will become more cheaper to buy in the
UK but of course you will only be contributing to the Rising Imports and lower
Exports trend in the UK.

In short a rising £ means declining GDP for the UK which means falling Exports,
more jobs being lost or off-shored or near shored to Europe, as British labour is
deemed more expensive, etc, etc, etc.
 

·
Registered
Joined
·
512 Posts
I shouldn't get too smug about the rising pound against a falling Euro. With the EU
and the Eurozone being the UK's biggest customer. Any significant rise in the
pound is bad news for British Exporters, as EU customers look elsewhere or trade
more heavily within the Eurozone.

Of course those high value German cars will become more cheaper to buy in the
UK but of course you will only be contributing to the Rising Imports and lower
Exports trend in the UK.

In short a rising £ means declining GDP for the UK which means falling Exports,
more jobs being lost or off-shored or near shored to Europe, as British labour is
deemed more expensive, etc, etc, etc.
William while I agree to a large degree the low Euro has led UK exporters to improve the ratio of non-euro exports to euro exports making the UK that much more resilient than before.

And the high pound also gives UK companies the chance to buy EU assets at very knocked down prices.

So not all bad over the medium term :)

But I can't see a better than 1.50 rate in the next 3 years without a EU UK exit. And I think that is still unlikely - but more likely than 6 months ago :cool:
 
1 - 20 of 49 Posts
Top