Debate about Spanish property market

[Ilyssawushiba]

There still remains some confusion about the situation of the Spanish property market. Last Wednesday Nubricks, an overseas property blog, arranged a debate with three top Spanish property experts. These have discussed whether the Spanish property market will boom or bust in 2007.
The debate mentions the possibility that the oversupply of properties will have its effect on the Spanish property market. These effects will only be restricted to the regions where this oversupply occurred. Malaga is a region which loses popularity because of their oversupply.
According to the experts, the boom of the recent years is over and the Spanish property market is preparing itself for a soft landing. The rapid growth of recent years is slowing down which, eventually, results in more realistic prices.
The Spanish market at the moment is a buyers’ market and not a melting market where properties will be given away under value. The properties in Spain include a much greater overall package and value than what is offered in the emerging markets. If looking for a holiday house or a permanent residence in Spain, now is a good time to look around.

From realestate-dreams.com

 

[Rolf Schaefer]

Property in Spain - BUYER BEWARE

Over the past 25 years the Spanish property market (at least along the entire coast line) has been booming with new developments being constructed all over the coast line.

However, property spruiking, three-tier marketing and the likes are present in all of Spain targeting inexperienced investors or holiday makers- BUYER BEWARE.

Unfortunately the infrastructure (water, electricity, roads, sewerage, etc) has not been kept update - as a result - residents experience frequent power outages especially during the peak season - BUYER BEWARE

I know these things from my own experience having investigated the possible purchase of properties in Spain in the late 90's.

 

[buzzlightyear]

Spam me thinks.......Greek property is better anyway

 

[chrispy]

I am just back from Spain.

My sister bought a house in the moutains, about 5kms from Archez, which is about an hour from Malaga. It is very rural, from her house on the top of the moutain the view is spectacular.

I met some developer friends of my sister. They buy and build 2/3 bedroom white brick homes with tiled roofs on reasonable sized blocks and include a swimming pool. They usually sell for around 200 pounds sterling. Water and Electricity is included. Mobile phone coverage is exceptional good.

For British people wanting a holiday or a retirement house I can see the value, with the Easyjet fares so cheap from the UK to Malaga but as an investment, no way. The weather is great, much warmer than the UK. The road to the area was narrow and very winding, as you are going straight up a mountain, once you reach the road, then its a sharp right hand turn onto an unmade road, wide enough for just one car, with a sheer drop to one side down the mountain. If you meet another car then one of you has to back up.

The area is certainly booming with 9 houses now in the tiny street my sister's house in located in, when they bought about 4 years ago there were 3!!

It is a lovely rural area with beautiful spanish villages and great friendly bars. The locals ride horses or quad bikes everywhere. Almond, olive trees and raisin beds are everywhere.

The Costa del Sol coast is 30 minutes away, straight down.

I spent a bit of time on the coast, mainly around Nerja. I was there in April 2006, so was able to compare the prices and was surprised to see how much the market had dropped, mainly the apartments were down by around 30-40k Euros.

We came across 3 Gaudi style houses just outside of Archez and was told they were for sale for 750 pounds Sterling but could not confirm the sale anywhere. They were really interesting though.

Chris

 

[Ruby]

We realise this is spam, but it has spawned some interesting comments, so we’ve decided to leave it for the time being.

I have removed the links from the original post and moved it from the commercial property forum.


Ruby

 

[Simon]

I am just back from Spain.

I met some developer friends of my sister. They buy and build 2/3 bedroom white brick homes with tiled roofs on reasonable sized blocks and include a swimming pool. They usually sell for around 200 pounds sterling. Water and Electricity is included. Mobile phone coverage is exceptional good.

200 pounds!!! I will buy half a dozen!

Seriously, can you post some pics? I have always wanted to visit Spain and find your description fascinating.

 

[chrispy]

Sorry Simon 200k Pounds Sterling - I have heaps of digital photos, so will have a go at putting them on, I even have some of the Gaudi homes, they were so interesting. I had visions of artists retreats, etc. but 750k is a lot of money!!!

Chris

 

[chrispy]

Ok - I have attempted to load 3 photos in, two of the Gaudi style houses and one of the view from my sister's front door - I have them in the gallery at

http://www.somersoft.com/forums/gallery/showphoto.php?photo=2586&limit=recent

I can't seem to load them here, sorry....

The white house at the left of the view photo was the last one sold for 200k, the owners are to move in at the end of this month, it is quite small, with 2 bedrooms and has a decent sized pool.

The dirt road is the only approach road to the houses - the bitumen road is the only road up the mountains. It takes 45 minutes on this winding road, stopping to let trucks pass the other way, to get to the freeway to Malaga. It is very rural. The white village is Compete, that had a wonderful bar overlooking the view that gave great tappas with each drink.

Chris