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Property valves fall

Posted: Sun May 10, 2020 5:02pm
22 replies1637 views12 members subscribed
Dave63

Posts: 8

3 helpful points

Location: Camposol

Joined: 4 Jun 2019

Hi all,

Before this situation closed down the World I was in advanced search mode for a property on Camposol after visiting for many years and last year renting (2018/19) for a longer period I am now at a age where I am ready to come full time In a couple of years and want a bolthole for holidays at this time to make our own and make new pals, how ever with all thats happening I am worried if we purchase now that things are gladly but slowly getting better property prices will plummet like crash of 2007/8. Having studied the forums  Cc Forum  and Youtube / facebook (Shaun Ex pat Marrarron ) Etc there is not much info as yet ? Though it won’t stop me seeking a place I have a limited budget initially for purchase upto 60k sterling plus small amount for poss refurb  costs and of cause buying/legal costs extra, do you nice people on the ground think prices will drop vast amounts or stay steady ( crystal ball needed I guess) l was looking Lower C or D as out priced B & A

Any replies welcome regards to all stay safe

frequent flyer

Posted: Sun May 10, 2020 7:08pm

frequent flyer

Very helpful member

Posts: 959

998 helpful points

Location: Camposol

Joined: 9 Feb 2018

Posted: Sun May 10, 2020 7:08pm

No disrespect intended...but £60,000 is basically bottom end of the market on Camposol and as you already know Camposol properties are probably the lowest around so you might initially see them fall around 10%  ...the more expensive Villa's at the top end of the market will drop around 20% but these percentages drop's will be down to supply and demand ...I have a 3 bed 3 bathroom highly maintained Detached Neptuno with pool  that I have just taken off the market it was up for sale for €130,000 = £112,000 peanuts for a property like this   ..I am in no hurry to sell and I am not going to give it away and I think quite a few people will be doing the same ..so I personally don't think you will see to many properties up for sale at give away prices ...even with Bank Repossessed properties as the Banks tend to just hold on to them until the market is right to sell them ..even then they will only put a few at any one time up for sale ..just as they have done with the Bank owned Monsura villa's on C sector ..as far as I can remember the Builder's reposed the villa's on C ..15 year's back  and it's only the last couple of years that they have been disposing them .

PeterC

Posted: Sun May 10, 2020 7:27pm

PeterC

Very helpful member

Posts: 1219

680 helpful points

Location: Los Alcázares

Joined: 10 Nov 2016

Posted: Sun May 10, 2020 7:27pm

There may be some who will give up on their holiday home if they think it will be impractical to use it, in which case they will have to drop their ambitions. I don't think there will be many buyers except Spanish or at the top-end of the market (private jet territory) for a few years until all the Covid & Brexit uncertainties have been resolved. Anyone thinking of moving to Spain and getting work should reserve themselves a bed in the psychiatric ward perhaps.

jaz007

Posted: Sun May 10, 2020 8:22pm

jaz007

Helpful member

Posts: 135

84 helpful points

Location: Camposol

Joined: 20 Aug 2019

Posted: Sun May 10, 2020 8:22pm

PeterC wrote on Sun May 10, 2020 7:27pm:

There may be some who will give up on their holiday home if they think it will be impractical to use it, in which case they will have to drop their ambitions. I don't think there will be many buyers except Spanish or at the top-end of the market (private jet territory) for a few years until all t...

...he Covid & Brexit uncertainties have been resolved. Anyone thinking of moving to Spain and getting work should reserve themselves a bed in the psychiatric ward perhaps.

Send me details for the nearest Asylum. We will be settling in Spain, hopefully within 12 months. Fortune favours the brave.

Dave63

Posted: Sun May 10, 2020 10:20pm

Dave63

Original Poster

Posts: 8

3 helpful points

Location: Camposol

Joined: 4 Jun 2019

Posted: Sun May 10, 2020 10:20pm

frequent flyer wrote on Sun May 10, 2020 7:08pm:

No disrespect intended...but £60,000 is basically bottom end of the market on Camposol and as you already know Camposol properties are probably the lowest around so you might initially see them fall around 10%  ...the more expensive Villa's at the top end of the market will drop around 20% ...

...but these percentages drop's will be down to supply and demand ...I have a 3 bed 3 bathroom highly maintained Detached Neptuno with pool  that I have just taken off the market it was up for sale for €130,000 = £112,000 peanuts for a property like this   ..I am in no hurry to sell and I am not going to give it away and I think quite a few people will be doing the same ..so I personally don't think you will see to many properties up for sale at give away prices ...even with Bank Repossessed properties as the Banks tend to just hold on to them until the market is right to sell them ..even then they will only put a few at any one time up for sale ..just as they have done with the Bank owned Monsura villa's on C sector ..as far as I can remember the Builder's reposed the villa's on C ..15 year's back  and it's only the last couple of years that they have been disposing them .

Thanks fir reply FF

Dave63

Posted: Sun May 10, 2020 10:29pm

Dave63

Original Poster

Posts: 8

3 helpful points

Location: Camposol

Joined: 4 Jun 2019

Posted: Sun May 10, 2020 10:29pm

jaz007 wrote on Sun May 10, 2020 8:22pm:

Send me details for the nearest Asylum. We will be settling in Spain, hopefully within 12 months. Fortune favours the brave.

Thanks for reply Peter C, but I am not coming to work and do NOT want anyone to give their home away I just wondered if anyone thought prices would collapse, as I know my budget is small but theres always options to go higher.

I

Dave63

Posted: Sun May 10, 2020 10:32pm

Dave63

Original Poster

Posts: 8

3 helpful points

Location: Camposol

Joined: 4 Jun 2019

Posted: Sun May 10, 2020 10:32pm

jaz007 wrote on Sun May 10, 2020 8:22pm:

Send me details for the nearest Asylum. We will be settling in Spain, hopefully within 12 months. Fortune favours the brave.

Hi Jaz007 

We could do basket weaving class together .

Lets hope we can get out by next year regards

zacdog

Posted: Mon May 11, 2020 12:11pm

zacdog

Helpful member

Posts: 381

181 helpful points

Location: Camposol

Joined: 14 Oct 2018

Posted: Mon May 11, 2020 12:11pm

You can buy on Camposol for under £60,000, just look at the properties on the market now, and that's before an allowance for any price drop?  However, you should still use present prices as being the same as near future prices.... nobody knows and not worth getting exited about as a buyer, yet.

PhilTox

Posted: Mon May 11, 2020 12:42pm

PhilTox

Helpful member

Posts: 418

352 helpful points

Location: Camposol

Joined: 1 Oct 2018

Posted: Mon May 11, 2020 12:42pm

As zacdog states there are properties from 45k or so and up, those will likely be clasicos and fiestas. We thought these too small as We needed somewhere to store our large cd and dvd collections as well as all my diy and sports gear so we started looking at Rebeccas and upward. Terraced Rebeccas seem to be starting at 56k at the moment. We bought a solid but unaltered Rosa with huge underbuild last year at a fantastic discount of 18k off asking price, so chance your arm and bid low, you never know.

eraser

Posted: Mon May 11, 2020 2:21pm

eraser

Helpful member

Posts: 226

154 helpful points

Location: Mar De Cristal

Joined: 8 May 2018

Posted: Mon May 11, 2020 2:21pm

Looking at this question from the other side of the coin:

We purchased an apartment in 2018.

The upsetting for me came when we signed the contract:

The owner brought it 2005 for € 147.000 with a mortgage

He sold it 2018 for € 92.000.

I felt really sorry for him.

Just how would you feel if you would be the seller?


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