Financial view (UK financial reporters) is that the Spanish housing market, as a whole, has another 30% to fall
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>> Financial view (UK financial reporters) is that the Spanish housing market, as a whole, has
>> another 30% to fall
yes, but, 30% below €600 aint much in the scheme of things.
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There not far off giving the land away.Maybe something for young people,if they find any work in Spain.Why are so many ex pats returning to the UK? Cost of living health care.
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>> There not far off giving the land away.Maybe something for young people,if they find any
>> work in Spain.Why are so many ex pats returning to the UK? Cost of living
>> health care.
>>
Not just the ex pats. I have a 25 year old Spaniard working for me at the moment on a VIE scheme (its a French govt. scheme for the top graduates so they can gain work experience, get paid by the govt and we get some free bright and willing resource, although we end up taking quite a few on at the end of their placement)
He has a very low opinion of Spain and is in no rush to return. His opinion is that the youth unemployment level is much higher than reported and closer to 80% as some refuse to "sign on" such as his girlfriend who prefers to spend her time doing voluntary work
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That isn't the level of the market that any of us would be looking at, I suggest.
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>
>> yes, but, 30% below €600 aint much in the scheme of things.
>>
It's a huge amount if it takes the value if the property to below the build cost. My guess is that for building purposes the land is probably worthless anyway.
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If the land ever become worth something I bet they'd find a way of taking it back... :-)
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I was thinking the same .What's the catch there be some small print clause in case..;)
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>> If the land ever become worth something I bet they'd find a way of taking
>> it back... :-)
>>
May be subject to "land grab"
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I would suggest that there are so many cheap ready built houses on the market in Spain that it would be actually more expensive to pay to have a house built for you even if the building plot was effectively free
Last edited by: CGNorwich on Wed 28 Aug 13 at 20:48
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>>I would suggest that there are so many cheap ready built houses on the market in Spain that it would be actually more expensive to pay to have a house built for you even if the building plot was effectively free
Quite right, there are vast amounts of new builds in Spain standing empty, I wouldn't consider buying one of those either, even for €600.
The advice from the expat forums covering Southern Europe, is to rent rather than buy at the present time.
This is the area where the €600 plots are goo.gl/maps/qmwkO :(
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>there are vast amounts of new builds in Spain standing empty, I wouldn't consider buying
>one of those either, even for €600.
You wouldn't buy a new build for 600 Euros? Why ever not? I certainly would.
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>>You wouldn't buy a new build for 600 Euros? Why ever not?
I had in mind some of the new-build housing developments I've seen where hardly any of the properties are sold/let and are starting to deteriorate much pronto.
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>>>This is the area where the €600 plots are goo.gl/maps/qmwkO :(<<<<
Looks pretty attractive! Streetview link
goo.gl/maps/ZugGJ
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>> Looks pretty attractive! Streetview link
>> goo.gl/maps/ZugGJ
>>
Nice and peaceful. Children's playground in the town square. Lovely views. Commutable to Madrid. Ideal. Always look on the bright side........
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Wasn't the current expat problem on the Costas caused by local officials approving building projects that didn't meet Govt. regulations?
Wasn't the current expat problem on the Costas caused by local officials approving building projects that didn't meet Govt. regulations?
It's like Déjà vu all over again, as Yogi Berra said ;-)
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A friend of mine bought a 2 bed apartment in somewhere called Santa Eukelele, Ibiza, last summer. He reports that the market is surprisingly buoyant, with few, if any, bargains to be had.
Presumably the mainland is a different kettle of fish altogether.
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I presume you mean Santa Eulalia? That's a very pleasant corner of Ibiza. I've holidayed there myself a couple of times.
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yes. that's the place. Just awaiting an invite to spend a few days in his des res.
The only downside is that flights during winter are restricted, unless you fly via the mainland. He catches the train from N Yorks to Kings X via Leeds, o/nights at a Premier Inn then flies out of City airport the following morning. Not too much hassle in the grand scheme of things.
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When I was in Salou earlier this year I found property prices to be similar to UK levels. Certainly you wouldn't get much change out of £100k for a 1 bed flat.
Coastal areas have enough wealthy Europeans buying property to keep the market alive, the problem is the inland areas. I assume inland areas don't attract the same amount of immigration.
Certainly in Manchester there is now a huge amount of young Spanish people, I would say in terms of young Europeans Spanish immigrants are now second to the Polish.
I love Spain but I simply do not trust the Spanish government and would never invest in the country for that reason.
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>>Coastal areas have enough wealthy Europeans buying property to keep the market alive
Sadly, no they don't.
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Correcto - the lack of Northern European buyers is what has caused the crash on the coast.
Even before we left the Costa del Sol there were thousands of empty flats mouldering away, many half finished, some with a handful of unlucky owners relying on builder's electricity & water. (Without a licence of first occupation the utility companies will not connect up a property. To get the licence the development must meet criteria which cannot be met if the developers have gone bust. Chicken & egg.)
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Santa Eukelele, Ibiza......
Didn't George Formby have a place out there??.....
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Plots of land in the campo?
Almost certainly protected against building - mind you that has not stopped corrupt mayors & town halls from giving "permission" to build in the past.
Caveat emptor!
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