I have been thinking about buying a property in Spain for a long time now, reaching the time in life when time out is important. I have read a lot about the problems in Spain at the moment, and I just wonder if anyone on this board has any experience of life in this country through themselves or relatives that would be worth imparting! All comments, even sarcastic would be welcome Sparkey pal.
Can't be very helpfull on this one MM. Only been to Spain twice in my life - only on business, never on holiday. The first time to Valencia for meetings with a manufacturer was abysmal - absolutely no sense of humour. Forget the Germans (who are actually great), the Spaniards I dealt with were the dourest bunch of self-possessed jerks I have come across. The only decent meal I got was at Valencia airport on the way back before the flight left. At least I recognised it as beef and nothing else. All in all, I found the food not to my taste. Examining the meat dishes I was offered leads me to believe that Tesco Burgers wouldn't have enough of that particular vital ingredient. Neigh lad, neigh for me. The second time was a few days in Barcelona where it was better. Happier disposition altogether and was taken on a visit around the Nou Camp (not for a game) - fantastic place. I actually did a deal with a manufacturer that eventually went tits up due to their archaic production methods, but I forgave them because of the Nou Camp trip. I tell a lie - I did go there a third time. It was just a daytime stopover at Barcelona on a Med cruise about 15 years back. Took a taxi from the dock into the city (absolute bloody rip off!!) and then nearly got mugged in the Ramblas by a couple of gypsy girls and their minder. Don't get your wallet (or purse) out if your asked to buy a rose from a pretty girl! Maybe my experinces are not typical, but I shan't be retiring there - anyway, I'd miss the snow.
It's changed a bit since the Inquisition Spark. I envy your opportunity TMM. Had many a happy holiday over there and the Balierics.
Just be very careful, make sure you have good help that side. If you can talk to ex-pats, get their thoughts first. Good Luck M8, I hope things work out for you.
Get a good solicitor over here (as well as one there) who knows how the Spanish legal system works. Make sure local plans are fully researched and reported. There have been numerous situations in recent years where Brits and other nationalities have had houses built north of Benidorm (Calpe area rings a bell) only to find the local council have allowed boundary changes and another developer owned the land. They have lost everything.
Blue, I have been offered established properties so cheap, whilst I wouldn't make profit if I came to sell, it is probably worth a risk. I would be afraid to buy new, out in the sticks mind.
I know someone who owns property over there, plus i've been there about 5/6 times lol. I don't really know what kind of information you want, but I can tell you they aren't really fussed on the whole health and safety business, and (like most countries) there are a lot of people who like to take advantage of foreigners. It depends where you go, but I always found the place to be a mess (building rubble and litter everywhere). The people are generally friendly but most will act like you don't exist...like london really. There are plenty of brits around and quite a few "english" restaurants. All this information comes from my experience, It's just my opinion. Bearing in mind I never went to any tourist hot-spots, I went into the "real" Spain: little villages and out of the way towns. As a final note; I agree with everyone who said about having legal aid or at least someone who knows the rules around town. Good luck
I spend 4 months of the year in Spain. There are abandoned new towns, factories and major building projects, flats and half completed properties in central Spain particularly around Madrid and towards Cordoba and through to Cadiz in the West. Along the Costas in Valencia and Andalucia the situation is not nearly so bad but there are very many properties for sale owned mainly by the Brits and Germans. Not so many for sale inland in places like Granada where mainly the indigenous population live. You don't actually feel as though there are financial difficulties on the Costas but there clearly is. Avoid buying anywhere half built or on an incomplete urbanisation. Builders are going bust as banks call in the loans. Denia and Javea are OK places to buy - plenty of Brits - but there are Spanish towns further along the coast at Torre Del Sol close to Malaga that are nicer places to live. Beniscassim in Valencia (semi touristy) is highly recommended. It all depends what you want and where. The area around Marbella including Cabopino is still expensive but nice. Avoid Barcelona and don't drive on the Motorway by passing the City as there are "bandits" that target foreign vehicles by crashing in to you and getting you to stop. Don't stop under any circumstances. I've been attacked and the local English press and the Spanish castigate the Police for not taking the problem more seriously. Two Eastern European gangs have been arrested recently. Google for more details. Spain does feel safe though so don't be put off. Many Estate Agents are selling properties at knock down prices but the quoted prices can be reduced much further. Start at 50% off and work your way up from there. If you really like a property mention it to someone in a local bar. They might tell you who owns it and the reason why they want to sell. Sometimes agents massively inflate the price even in this difficult market. You will also find many agents selling the same properties at different prices. Another market to explore are those being sold by banks because of mortgage defaults. Not sure how you do this but there are many thousands of properties being held by banks up for sale either direct by them or through Agents. The banks are desperate and some Spanish owners (hardship cases) are being let off their mortgages altogether just to get the properties off the banks hands. The market out here changes weekly but one thing is sure..................property is now very cheap and now could be an excellent time to buy. Do your own research of course.
Nothing whoops about that, just what I was looking for...thank you! I have been looking for some time and even went out with MRI a few years ago, what a hard sell that was and what a mistake that would have been. Solmar Estates keep me posted, and bank repossessions interest me of course. I probably will rent out there, and as you say take local advice. Once again many thanks Whoops!
There are loads of bargains to be had in some really nice areas in the Costa Del Sol, plenty of good appartments in Marbella, Calahonda, fuengarollyrolly, just remember the estate agent and spanish solicitor fees are hefty and build that cost into your budget, personally i would not bother with any new builds, there is loads of stock on the established property side of things, you will get something really nice for under 70,000 euro. Good Luck
