Good time for buying property in Spain ??

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  • Raf1
    Too lazy to set a custom title
    • Oct 2003
    • 12117
    #1

    Good time for buying property in Spain ??

    I was wondering if there are any regions of Spain that have experienced a more than average drop of property prices due to the recession and other reasons?
    I remember that even before the recession the prices were pretty low in the Costa Calida region. South of Spain would be my choice but any other suggestions are welcome.
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    • Si
      Such Fun!
      • Feb 2008
      • 13900
      #2
      10 years ago was a good time to buy. not sure if there have been drops but even if there have been, it still isn't as cheap as it used to be.

      Fucking Euro!

        Comment

        • borked
          Totally Borked
          • Feb 2005
          • 6284
          #3
          be careful with spain.... local building regulations are frikken crazy. Means if some developer wants to build on your land, they can simply take your land, legally.

          eg
          http://news.bbc.co.uk/2/hi/europe/8050768.stm

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            • Raf1
              Too lazy to set a custom title
              • Oct 2003
              • 12117
              #4
              Originally posted by borked
              be careful with spain.... local building regulations are frikken crazy. Means if some developer wants to build on your land, they can simply take your land, legally.

              eg
              http://news.bbc.co.uk/2/hi/europe/8050768.stm
              interesting read. I haven't heard about it before.
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                • JFK
                  FUBAR the ORIGINATOR
                  • Jan 2002
                  • 67373
                  #5
                  Originally posted by borked
                  be careful with spain.... local building regulations are frikken crazy. Means if some developer wants to build on your land, they can simply take your land, legally.

                  eg
                  http://news.bbc.co.uk/2/hi/europe/8050768.stm
                  could be a total nightmare

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                    • Twistys Tim
                      Confirmed User
                      • Apr 2008
                      • 1923
                      #6
                      So many people have lost their properties in Spain through corruption. Builder were giving back handers to elected officials for planning permission, and then building on land they were not legally allowed to. When the shit hit the fan, these properties were condemned and / or the ownership was taken away from the people who purchased the units.

                      Very sad state of affairs.


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                        • kowalsky
                          Confirmed User
                          • Oct 2003
                          • 2494
                          #7
                          What I know is in Valencia properties are really cheap. I know this because I have a friend there trying to sell to buy another apartment. The price of his property droped 40% in 1 year. Crazy.

                          I don´t know how is Valencia compared to other regions.
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                            • jtpornstar
                              Confirmed User
                              • Jul 2003
                              • 122
                              #8
                              Originally posted by kowalsky
                              What I know is in Valencia properties are really cheap. I know this because I have a friend there trying to sell to buy another apartment. The price of his property droped 40% in 1 year. Crazy.

                              I don´t know how is Valencia compared to other regions.
                              I live in Valencia. Just Google "Valencia Land Grab" and you'll see how many peeps have lost properties, bought with legal permission, only to discover that due to corruption, they are now deemed illegal. Also the government can build a new road up to your door, or install street lighting, or a new sewerage system, and you HAVE to pay for it.
                              Prices here have still along way to fall. Just because something says "50% Off" doesn't mean it's a bargain....as houses here were ridiculously overpriced to start with. Bank lending has completely dried up. There is an overhang of over 1 million unsold properties. Wage deflation has started. Four million unemployed (officially...so who knows the real figure) and maybe a 1/3 of the working population without work by 2011. And that's probably the year the shit will really hit the fan, as all those holding on by their fingernails, will be forced to let go. See you then!

                                Comment

                                • Raf1
                                  Too lazy to set a custom title
                                  • Oct 2003
                                  • 12117
                                  #9
                                  thanks for your answers

                                  I think it might be a good idea to wait about a year or so to see how it goes.

                                  The Valencia region is one I was thinking about too.
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                                    • v4 media
                                      Confirmed User
                                      • Feb 2005
                                      • 2934
                                      #10
                                      Hold off for a while. I've been keeping my eyes on finca prices for about a year.
                                      Looking about 1hr inland between Barca and Valenica, just into Aragon. The prices are still dropping.

                                      If you buy non urban land there is always the risk of losing your house, but if its an apartment/house in a urban area. you're safe enough.

                                      I'm buying non urban because I want a few hectares. But where I'm looking there'll never be a massive increase in population. so there wont be any major development work.

                                        Comment

                                        • pornguy
                                          Too lazy to set a custom title
                                          • Mar 2003
                                          • 62912
                                          #11
                                          You want something cheap. Look here in Cancun.

                                          Prices are going down and well worth it.

                                          You can get a condo on the beach for 225k and up, you can get a home one the gulf for about 1million and up you can get a home on the bay for about 290+ and you can get homes in the city for about 200+
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                                            • Raf1
                                              Too lazy to set a custom title
                                              • Oct 2003
                                              • 12117
                                              #12
                                              Originally posted by v4 media
                                              Hold off for a while. I've been keeping my eyes on finca prices for about a year.
                                              Looking about 1hr inland between Barca and Valenica, just into Aragon. The prices are still dropping.

                                              If you buy non urban land there is always the risk of losing your house, but if its an apartment/house in a urban area. you're safe enough.

                                              I'm buying non urban because I want a few hectares. But where I'm looking there'll never be a massive increase in population. so there wont be any major development work.
                                              I'm also thinking about buying at least a hectare, so I'm a bit worried about the horror stories I've read about since starting this thread. I have quite a few friends that bought land and built houses on it in the Murcia area and none of them had any problems (or even heard of such situations). I guess it depends a lot on the region as well.
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                                                • Raf1
                                                  Too lazy to set a custom title
                                                  • Oct 2003
                                                  • 12117
                                                  #13
                                                  Originally posted by pornguy
                                                  You want something cheap. Look here in Cancun.

                                                  Prices are going down and well worth it.

                                                  You can get a condo on the beach for 225k and up, you can get a home one the gulf for about 1million and up you can get a home on the bay for about 290+ and you can get homes in the city for about 200+
                                                  as for Cancun, it's a bit too far away. I need to be located in Europe
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                                                    • JP-pornshooter
                                                      Confirmed User
                                                      • Sep 2006
                                                      • 4007
                                                      #14
                                                      Originally posted by pornguy
                                                      You want something cheap. Look here in Cancun.

                                                      Prices are going down and well worth it.

                                                      You can get a condo on the beach for 225k and up, you can get a home one the gulf for about 1million and up you can get a home on the bay for about 290+ and you can get homes in the city for about 200+
                                                      i think mexico have many issues with non-mexican land ownership? you have to be sponsored by a mexican citizen or something?

                                                      spain is part of the EU and have been for years, i think it is pretty safe to invest in spain but it sounds like it might be hard to get a loan..

                                                      btw the spanish banks have fared well through the economical downfall, they were credited with not issuing high risk mortgage loans which have caused bank demise in many other european countries as well as US...
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                                                        • Raf1
                                                          Too lazy to set a custom title
                                                          • Oct 2003
                                                          • 12117
                                                          #15
                                                          Originally posted by JP-pornshooter
                                                          spain is part of the EU and have been for years, i think it is pretty safe to invest in spain but it sounds like it might be hard to get a loan..
                                                          I was thinking about paying 30% or so up front and getting a loan on the rest. It might be a bit easier then.
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                                                            • FilthyRob
                                                              Confirmed User
                                                              • Feb 2004
                                                              • 6741
                                                              #16
                                                              renting has to be the way to go for now. I bought and lost 180,000 dollars in value in a year in Soutern California.

                                                              Still doing it, rent sounds great.
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                                                                • jtpornstar
                                                                  Confirmed User
                                                                  • Jul 2003
                                                                  • 122
                                                                  #17
                                                                  Originally posted by Raf1
                                                                  I was thinking about paying 30% or so up front and getting a loan on the rest. It might be a bit easier then.
                                                                  I'm afraid that you have a big fat ZERO chance of getting a loan on a property that isn't urbanized....banks here are no longer in the mortgage business. Also keep in mind that those country properties cannot be changed in regard to size, they cannot be larger than the original build (so no swimming pool/tennis court) and cannot be built upwards. For many of the large fincas you see as ruins, you'll need to actually farm (register as a farmer!) at least 10,000 m2 in order to start restoration. There is a reason most are empty and just falling down.
                                                                  And one other important consideration....absolutely no chance of an internet connection!! You'll be stuck with satellite, which is beyond the realms of frustration with huge lag times.
                                                                  Sorry to say, but a webmaster's got to live urbanized.

                                                                    Comment

                                                                    • After Shock Media
                                                                      It's coming look busy
                                                                      • Mar 2001
                                                                      • 35299
                                                                      #18
                                                                      Originally posted by FilthyRob
                                                                      renting has to be the way to go for now. I bought and lost 180,000 dollars in value in a year in Soutern California.

                                                                      Still doing it, rent sounds great.
                                                                      I would typically not say that.
                                                                      Renters are the very people that pay a large chunk of my bills.

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                                                                        • Persius
                                                                          Tap into MOBILE!
                                                                          • Jul 2003
                                                                          • 11779
                                                                          #19
                                                                          Originally posted by FilthyRob
                                                                          renting has to be the way to go for now. I bought and lost 180,000 dollars in value in a year in Soutern California.

                                                                          Still doing it, rent sounds great.
                                                                          When did you buy?...... i'm guessing 2005-07?

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                                                                            • DaddyHalbucks
                                                                              A freakin' legend!
                                                                              • Feb 2004
                                                                              • 18975
                                                                              #20
                                                                              Buy low, sell high.
                                                                              Boner Money

                                                                                Comment

                                                                                • After Shock Media
                                                                                  It's coming look busy
                                                                                  • Mar 2001
                                                                                  • 35299
                                                                                  #21
                                                                                  Originally posted by DaddyHalbucks
                                                                                  Buy low, sell high.
                                                                                  Buy low, have others pay for it, and use it as leverage.
                                                                                  Very few reasons to sell.

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                                                                                    • slapass
                                                                                      Too lazy to set a custom title
                                                                                      • Nov 2002
                                                                                      • 14625
                                                                                      #22
                                                                                      After reading all of the above it sounds like the perfect time to buy.

                                                                                        Comment

                                                                                        • v4 media
                                                                                          Confirmed User
                                                                                          • Feb 2005
                                                                                          • 2934
                                                                                          #23
                                                                                          Originally posted by jtpornstar
                                                                                          I'm afraid that you have a big fat ZERO chance of getting a loan on a property that isn't urbanized....banks here are no longer in the mortgage business. Also keep in mind that those country properties cannot be changed in regard to size, they cannot be larger than the original build (so no swimming pool/tennis court) and cannot be built upwards. For many of the large fincas you see as ruins, you'll need to actually farm (register as a farmer!) at least 10,000 m2 in order to start restoration. There is a reason most are empty and just falling down.
                                                                                          And one other important consideration....absolutely no chance of an internet connection!! You'll be stuck with satellite, which is beyond the realms of frustration with huge lag times.
                                                                                          Sorry to say, but a webmaster's got to live urbanized.

                                                                                          Bajo Aragon/ matarana has got wifi covering the whole area. You have to buy a hectare in most places *some 2.5 hectares* but you can build up to 200m on there as well as swimming pool, it all depends on the region....


                                                                                          Catalunya, Valencia and costal Andalucia are strict, but go inland a bit and you're o.k

                                                                                          Getting a loan on land is a fucker though. But because I'm looking in the middle of nowhere, lands cheap.

                                                                                            Comment

                                                                                            • Raf1
                                                                                              Too lazy to set a custom title
                                                                                              • Oct 2003
                                                                                              • 12117
                                                                                              #24
                                                                                              Originally posted by jtpornstar
                                                                                              I'm afraid that you have a big fat ZERO chance of getting a loan on a property that isn't urbanized....banks here are no longer in the mortgage business. Also keep in mind that those country properties cannot be changed in regard to size, they cannot be larger than the original build (so no swimming pool/tennis court) and cannot be built upwards. For many of the large fincas you see as ruins, you'll need to actually farm (register as a farmer!) at least 10,000 m2 in order to start restoration. There is a reason most are empty and just falling down.
                                                                                              And one other important consideration....absolutely no chance of an internet connection!! You'll be stuck with satellite, which is beyond the realms of frustration with huge lag times.
                                                                                              Sorry to say, but a webmaster's got to live urbanized.
                                                                                              yeah, I've noticed a lot of places falling down, but I knew people that built in places I was surprised they actually let them. On cliffs right along the sea front etc.. Some of them bought old houses and added pools and so on, others built from scratch. I guess it might depend on the region or having the right "connections".
                                                                                              I might just go the easy route and buy a house that's ready to move into. If I wait a little longer and the prices keep dropping, I think it won't be a problem.
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                                                                                                • CunningStunt
                                                                                                  Confirmed User
                                                                                                  • Aug 2006
                                                                                                  • 5594
                                                                                                  #25
                                                                                                  It's a good time, aint gonna get much cheaper.

                                                                                                  South of Marbella is nice, a mate of mine owns a real estate company down there, he's in a 7 bedroom villa.

                                                                                                  http://www.marbellasvillas.com is one of his sites

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