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POLL: Hi and here's the conflicting advice I've had 'covid has decimated property prices'

Posted: Thu Sep 3, 2020 1:00pm
20 replies1910 views7 members subscribed
Britwheeze

Posts: 9

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Location: Camposol

Joined: 26 Jun 2020

Hello one and all my partner E and I - Ray - are looking to relocate lock stock and internet business in 2021, I'm having some surgery hence the delays.

We are not made of money but have a bob or two. I spoke with an agent (tentatively because agents are a bit of an anathema to me, at the best of times) who told me that Covid had decimated property prices in and around the Mar Menor and Camposol in particular !!!!!!!!! Blimey that was surprise.

Underturd (not a spelling mistake more a comment) I spoke with another whom explained that property has in fact boomed in these areas. 

Sweet heavens above that one of them have got their facts wrong or miscued when taking a shot at being a super sales person so that's the dilemma we have found.

Did speak with a seasoned individual expat when having a beer in Camposol and his advice was 'put an ad out there detailing you are looking for a Villa with a budget of £125k ish and buy direct for an owner who wants or needs a sale and is willing to get  a deal done ASAP and use a good lawyer to do everything needed to ensure it all stacks up'.

I quite like this approach particularly as we both like both C and D areas for the quality and quiet lifestyle sure we will need a car as my Harley is like a red rag to a bull for my partner but anyways that's just my plaything she has her library (yup 1000's of books) so a car is in the budget.

Please don't chew me out for any of this as we are a genuine couple having a crisis of identity in the U.K. with the issues it's experiencing and we both want for a better life just this conflict is as nutty as squirrel poo. Normally I treat others opinions like smelly places we all have - sadly it is just a few who feel they are impelled to share them no matter how bad they smell or stink. 

So, please be nice, I could be a new neighbour after all. 

 

POLL: Hi and here's the conflicting advice I've had 'covid has decimated property prices'

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frequent flyer

Posted: Fri Sep 4, 2020 9:26am

frequent flyer

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Posts: 958

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Posted: Fri Sep 4, 2020 9:26am

You will pay €350.000+++ for a 3 bed 3 bathroom villa with pool on the Mar Manor..on Camposol the same Villa will cost you around €125,000  they aren't going to get any cheaper that this ...so grab a bargain when you can.

eduardo3332

Posted: Fri Sep 4, 2020 11:14am

eduardo3332

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Posted: Fri Sep 4, 2020 11:14am

frequent flyer wrote on Fri Sep 4, 2020 9:26am:

You will pay €350.000+++ for a 3 bed 3 bathroom villa with pool on the Mar Manor..on Camposol the same Villa will cost you around €125,000  they aren't going to get any cheaper that this ...so grab a bargain when you can.

There are many villas on and around the Mar Menor way below the above mentioned price and within walking distance of beaches, shops, banks, medical centres and regular bus services to cities and towns.

I would suggest you do your own homework and  not rely on forums such as this.

Britwheeze

Posted: Fri Sep 4, 2020 11:27am

Britwheeze

Original Poster

Posts: 9

1 helpful points

Location: Camposol

Joined: 26 Jun 2020

Posted: Fri Sep 4, 2020 11:27am

eduardo3332 wrote on Fri Sep 4, 2020 11:14am:

There are many villas on and around the Mar Menor way below the above mentioned price and within walking distance of beaches, shops, banks, medical centres and regular bus services to cities and towns.

I would suggest you do your own homework and  not rely on forums such as this.

Ok Eduardo, I used the forum for an opinion not as some sort of 'must do or best guidance nailed on guarantee of the right thing' being told 'I would suggest you do your own homework and  not rely on forums such as this' is rather counter-intuitive to the use of a forum surely?.

As, I can assume, most users of the forum are 'on the ground' or 'pending removal from somewhere to the Costa's' I feel getting local knowledge would be helpful - what is surprising was how you avoided my main reason for posting on here, which wasn't the price differences between two locations, as an accountant I can assure you I have done a considerable amount of my own homework.  Hi and here's the conflicting advice I've had 'covid has decimated property prices'

Britwheeze

Posted: Fri Sep 4, 2020 11:30am

Britwheeze

Original Poster

Posts: 9

1 helpful points

Location: Camposol

Joined: 26 Jun 2020

Posted: Fri Sep 4, 2020 11:30am

frequent flyer wrote on Fri Sep 4, 2020 9:26am:

You will pay €350.000+++ for a 3 bed 3 bathroom villa with pool on the Mar Manor..on Camposol the same Villa will cost you around €125,000  they aren't going to get any cheaper that this ...so grab a bargain when you can.

Hi and thanks for replying and we have looked at the relative benefits of each location and feel Camposol scores high in two ares one is the obvious price differences and secondly the community feel and relaxed air. But thanks and cheers R

eduardo3332

Posted: Fri Sep 4, 2020 11:53am

eduardo3332

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Posted: Fri Sep 4, 2020 11:53am

Britwheeze wrote on Fri Sep 4, 2020 11:30am:

Hi and thanks for replying and we have looked at the relative benefits of each location and feel Camposol scores high in two ares one is the obvious price differences and secondly the community feel and relaxed air. But thanks and cheers R

Hi 

Hi again, and please do not think, I was telling you how to suck eggs, I am sure as most people who are thinking of making such a big decision as  selling up and moving to another country, you would have looked at this very carefully, I did over 20 years ago.

I was also one of the first people to buy and live on Camposol my property was completed in 1998.

I was just commenting on the remark made by FF about the difference in prices which as I consider totally incorrect.

Having lived in many parts of Spain, Cities, Rural and Coastal. mainly through business, including property sales,  I have a totally unbiased opinion of any area that a person chooses to purchase.

Regards

Ed

RichT

Posted: Fri Sep 4, 2020 1:29pm

RichT

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Posts: 145

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Location: Lorca

Joined: 13 Sep 2019

Posted: Fri Sep 4, 2020 1:29pm

I would think that the answer probably is "It's too early to know".

There had appeared to be an increase in prices for certain properties in certain areas at the start of the year as people rushed to permanently move to Spain pre- the finalisation of Brexit, when certain criteria are likely to change.

6 months of Covid, with the associated restrictions on travel has undoubtedly damaged many businesses and I would expect that the volume of sales being completed will have dipped significantly. Similarly in the UK, house completions reduced by 90%, but are now starting to recover.

You could also consider that in many areas in Spain house prices have not (and, arguably, will not) recover to the pre- 2008 crash prices.

Ultimately, a house is worth what you're prepared to pay for it. Whether you paid too much or got a bargain is only realised if / when you come to try to sell it.

Britwheeze

Posted: Fri Sep 4, 2020 1:40pm

Britwheeze

Original Poster

Posts: 9

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Location: Camposol

Joined: 26 Jun 2020

Posted: Fri Sep 4, 2020 1:40pm

RichT wrote on Fri Sep 4, 2020 1:29pm:

I would think that the answer probably is "It's too early to know".

There had appeared to be an increase in prices for certain properties in certain areas at the start of the year as people rushed to permanently move to Spain pre- the finalisation of Brexit, when certain criteria are likely to change....

...

6 months of Covid, with the associated restrictions on travel has undoubtedly damaged many businesses and I would expect that the volume of sales being completed will have dipped significantly. Similarly in the UK, house completions reduced by 90%, but are now starting to recover.

You could also consider that in many areas in Spain house prices have not (and, arguably, will not) recover to the pre- 2008 crash prices.

Ultimately, a house is worth what you're prepared to pay for it. Whether you paid too much or got a bargain is only realised if / when you come to try to sell it.

Hi Rich T and thanks - of course a house is a home after all and that is the biggest factor in our considerations over what to buy, it would just appear to us and me in particular that the property agents each have their own tale to spin which was conflicting and of course foggy at best.

I have major surgery planned sometime soon so we will probably buy now and move in the new year, as we will still retain our property here in the U.K. the risk is slightly mitigated and the 'too early to know' is about where we got to, so thanks again. 

Stay safe

Cheers

Tony1948

Posted: Fri Sep 4, 2020 2:02pm

Tony1948

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Posts: 244

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Joined: 16 Jan 2018

Posted: Fri Sep 4, 2020 2:02pm

There are many good properties for sale on Camposol and frankly quite a few of them will probably be bargains. Listen carefully to what agents say. Sometimes what they don't say is most important. Make sure you have the right questions lined up. :)

It's possible that there may be a slight price reduction come the new year. It may be that some will abandon Camposol because it will be more difficult to live under the radar long term. :)

That said, Camposol is very cheap in comparison to many other locations. It has social advantages and is close to other towns. I think it's unlikely that we will be seeing a large price reduction overall.

My wife & I bought a property on C2 in the spring of 2018. We moved in on 1st July and have been here since.

We've just bought another property on Sector A and will be moving in shortly, once some minor modifications are completed (new kitchen etc).

Camposol has  a great community and most people are just fine. There are a few arses, but one does not have to associate with them.

If you buy here, I hope you will be happy with it.

Good luck.

frequent flyer

Posted: Fri Sep 4, 2020 5:16pm

frequent flyer

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Joined: 9 Feb 2018

Posted: Fri Sep 4, 2020 5:16pm

eduardo3332 wrote on Fri Sep 4, 2020 11:14am:

There are many villas on and around the Mar Menor way below the above mentioned price and within walking distance of beaches, shops, banks, medical centres and regular bus services to cities and towns.

I would suggest you do your own homework and  not rely on forums such as this.

Eduardo3332  Neptuno Delux detached villa 3 beds /3 bathrooms 9x4 MTR pool fully furnished on Camposol €125,000..i can assure you won't buy the equivalent villa on the Mar Manor anywhere near this price.

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