There’s a great post from Martin Dell at Kyero about getting accurate information on Spanish property prices, have a read here:
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You don’t need an expert to tell you that right now is an
absolutely incredible time to buy property, housing prices
are dropping every day and its reported we’re still not at
the bottom of the slump, average house prices could still
drop a further 10% in January alone, which means it will be
even better next year. The question is now not why to
invest, but how!?
Part 1 of this article on Renting Your Spanish Property covered understanding your costs and what fixtures and fittings to include…
Key holding and property management
- The first consideration should be finding a property management company, especially during the early phases to supervise furniture deliveries and access for tradesmen. Some of the most successful people that rent do their own marketing, through friends and family and the volume property rental sites and only use a local service provider for cleaning, maintenance, meet and greet and key holding. Meet and greet is potentially the area where most people fail as a friendly and informative meet, with good information provided, can start a happy holiday experience and try to provide a basic pack containing tea coffee milk water etc.
Can you beat the Exchange Rate Blues?
If you live in the UK and are interested in buying a property in Spain you will be very disappointed to see that the pound is currently hovering at an all time low against the euro. Are you facing the fact that your hard earned money will buy you much less in the way of Spanish property than it would a year ago?
Well don’t despair. Buying at better rate of exchange is not a thing of the past.
I’ve been hearing of some fantastical deals in Spain at the moment – you know the ones:
20% off the asking price…
Buy a townhouse and get a discount on a seaside flat…
Buy one house and get another free (never thought I’d see a BOGOFF on property!)…
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2 years ago InspectaHomeSpain published our first survey report, based on 350 new property inspections www.thesnaggingforum.com and with the incredible changes that the Spanish property market has gone through an update was overdue.
In the latest survey we look at inspection results for 700 properties, checked over the period from April 2007 – December 2008, in the Costa Blanca, Costa Calida, Costa Almeria and Costa del Sol areas.
An article in the Times Online entitled “Still as Safe as houses” caught my eye as it suggested that the recent uncertainty around banks and guaranteed savings is leading people to invest once more in UK property – even though they are aware prices could fall further in the short term.
Estate agents are reporting that some people see buying property a safer bet for their money than keeping it in the bank.
Whilst many people believe that the housing market (in the UK, Spain & elsewhere) will decline even further, they still feel that owning property is safer than saving.
Warren Buffet has said: “Be fearful when others are greedy and greedy when others are fearful.”
And those people with cash to spend are having an impact on the housing market – whilst other people may be having problems getting a mortgage, cash buyers can almost set their own prices. Especially with distressed sellers who need to move quickly.
So, what do you think? Do you have a spare 100k sitting in a risky bank account? Would you consider buying in today’s climate? How long do you think until the housing market bottoms out? When should we buy in Spain?
Add your comments below…
The Times are calling it the “Icesave Effect”, based on the near collapse of Iceland’s banking system last week – where people feel their money could be safer in property than it is in a bank!
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In the process of compiling a 2nd survey on common snagging defects in Spain, which I plan to publish November, I had laugh at some of the amusing comments made by developers and things that have happened, during snagging inspections, so I thought that I would share these with you via a report which you can get at the end of this article, but for now here are my top 3 corkers:
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