Spanish property market

**ThomasSoerensen** · 19 October 2009, 11:06

Originally posted by wurzel View Post

I've been thinking about moving to Spain for a few years but now seems the right time in my life to do it.

Only problem is the appalling current exchange rate means I'll get about 30% less for the value of my house (in Euro terms) than I would have done a couple of years back.

Just wondering if anyone out there knows much about the market over there - i.e. since they are in a worse mess than us, there could be some real bargains to be had despite the exchange rate.

What with our horrendous budget deficit, it could be a few years until Sterling gets anywhere near where it was a couple of years ago and frankly I don't want to wait that long so I'm just trying to weigh things up and make a decision.

Any comments would be appreciated.

I have looked into this a bit myself and I have become convinced that the prices of properties have only begun the adjustment. It will be a few years before the prices are at the bottom.

Due to some specifics for Spanish banking the correction takes a long time.

Do not buy now. I believe of a total correction of 50% they have only so far adjusted about 10-15% down so far.

**wurzel** · 19 October 2009, 12:34

Yes, I haven't seen any huge drop in prices there. I've just finished a contract in Alicante where I've been for the past 18 months & prices to me don't seem particularly cheap, e.g. expect to pay around 200k + for a 2 bed apartment in the centre of town.

The urbanisations full of expats are where the cheap deals are to be found because so many people have been desperate to sell up and go home as their pensions have become so devalued by the fx rate. Can't really see myself living on one of those though; ideally I'd like to use the collateral on my uk house to buy an old wreck in the country and spend a couple of years doing it up.

**MrMark** · 19 October 2009, 12:39

Official figures quoted here - spanish property insight site

**alreadypacked** · 19 October 2009, 12:44

Originally posted by wurzel View Post

Yes, I haven't seen any huge drop in prices there. I've just finished a contract in Alicante where I've been for the past 18 months & prices to me don't seem particularly cheap, e.g. expect to pay around 200k + for a 2 bed apartment in the centre of town.

The urbanisations full of expats are where the cheap deals are to be found because so many people have been desperate to sell up and go home as their pensions have become so devalued by the fx rate. Can't really see myself living on one of those though; ideally I'd like to use the collateral on my uk house to buy an old wreck in the country and spend a couple of years doing it up.

You want to live in the land of NO

NO Deeds
NO Planning permission
NO clear title
NO foundations
NO access right
NO mains water

Have fun with that

**wurzel** · 19 October 2009, 12:45

Originally posted by alreadypacked View Post

You want to live in the land of NO

NO Deeds
NO Planning permission
NO clear title
NO foundations
NO access right
NO mains water

Have fun with that

Do you have any experience of this?

**alreadypacked** · 19 October 2009, 12:51

Originally posted by wurzel View Post

Do you have any experience of this?

Spent some time looking at buying somewhere in Spain, but walked away in the end. Figures didn't add up. I have been told that the Spanish Goverment/local can make-up laws that can cost owners a lot of money. Like they want to put a road past your house £50k please. etc.

Bought of plans in Egypt. Not sure if that will be any better.

**Fishface** · 19 October 2009, 14:24

Originally posted by alreadypacked View Post

You want to live in the land of NO

NO Deeds
NO Planning permission
NO clear title
NO foundations
NO access right
NO mains water

Have fun with that

It' not that bad...

1. There are 'deeds' or 'title' - I have one it is clear of debt and land surveyed and registered - true the title can be antiquated thus a modern survey to clarify.

2. Planning Permission can be tricky but it is granted 'existing building plus 10%' without request to local council.

3. foundations - Buy a stone built house usually built on rock. none of the new build crap

4. access rights - good, I don't want people driving walking parking picnicing on your land. Buy with access - get the land survey.

5. water and electric and sewerage can be brought to you at your expense - sometimes if you pay the urban taxes on a wreck the council is obliged to provide street lighting thus electricity.

I'd say buying in Catalunya is better than most of Spain because they respect property rights and generally more civilised. Valencia and the south is a bit bananas.

You do need to get advice on how to go about buying - its not straight forward. And there is tonnes of stuff to buy - but buyer beware it could be in a nasty insular village, a dead village i.e you and 3 people over 80 years old, nowhere near anything - transport, markets, pharmacy etc.

but there are some incredibly gorgeous spots well worth going inland for.

**alreadypacked** · 19 October 2009, 15:11

Originally posted by Fishface View Post

It' not that bad...

1. There are 'deeds' or 'title' - I have one it is clear of debt and land surveyed and registered - true the title can be antiquated thus a modern survey to clarify.

2. Planning Permission can be tricky but it is granted 'existing building plus 10%' without request to local council.

3. foundations - Buy a stone built house usually built on rock. none of the new build crap

4. access rights - good, I don't want people driving walking parking picnicing on your land. Buy with access - get the land survey.

5. water and electric and sewerage can be brought to you at your expense - sometimes if you pay the urban taxes on a wreck the council is obliged to provide street lighting thus electricity.

I'd say buying in Catalunya is better than most of Spain because they respect property rights and generally more civilised. Valencia and the south is a bit bananas.

You do need to get advice on how to go about buying - its not straight forward. And there is tonnes of stuff to buy - but buyer beware it could be in a nasty insular village, a dead village i.e you and 3 people over 80 years old, nowhere near anything - transport, markets, pharmacy etc.

but there are some incredibly gorgeous spots well worth going inland for.

If the original building had planning permission

Post some links, not found any usefull site's that have regular updates.

**Fishface** · 19 October 2009, 16:07

Originally posted by alreadypacked View Post

If the original building had planning permission

Post some links, not found any usefull site's that have regular updates.

if the land is classified as 'urbano' then existing walls plus 10% is your right. yes, you have to submit your plans - they are conservative and don't generally like glass boxes, huff haus etc - they want terracotta and stone.

wrecks/cassettas/solars - the good stuff is not advertised and you will never get a good deal with advertised stuff. You have to drive around - identify houses that are unused and ask around to the major of the town/village - it takes time, helps if you have friends there, speak spanish. they sell in a 'latin' way. eventually out of 20 enquiries you will get a response. alot of land/farmhouses/wrecks - the owner(s) are unknown i.e some old granny in Uruguay could own it by inhertance - but they do become forefeit if not maintained for so many years. others are not owned but in continual probate so as not to pay taxes on inhertance. if the offer is right all of this is overcome.

the worst thing about spain is neighbours and their sticky beaks

Spanish property market