Topic: Houses and Condos cheap in Spain? - page 2. (Read 2790 times)
Hmmm. this interests me as well. I think I need to learn a lot more about Spanish property laws and taxes. Is there a market for renting out properties owned by investors abroad?
It really depends, Goat - in absolute terms real estate is still VERY EXPENSIVE in Spain, in relative terms is very cheap as in some areas the price went down 70% when compared to 2006 (mostly on the sea side, where HUGE constructions where built because of the housing bubble, and now they are empty).
I say expensive in absolute terms, because a shitty flat in Madrid STILL costs +250K€. For many parts in the world, that's still a crazy price. A flat in a sea city, very very normal (average qualities, maximum 2 rooms, etc.), can still cost +150K€, which IMO is not "cheap" in absolute terms. It's still 10 years of full salary for the average Joe. Of course you can buy a flat in an abandoned "resort" for less, but I can guarantee you that pretty much sucks.
If you are really interested in it, drop me a PM and I will give you directions, I would gladly help.
Wikipedia info about the spanish housing bubble: https://en.wikipedia.org/wiki/Spanish_property_bubble
An example of lots of abandoned sea-side construction: http://www.burbuja.info/inmobiliaria/burbuja-inmobiliaria/202508-heridas-inmobiliarias-costa-mediterranea-fotografias.html
I say expensive in absolute terms, because a shitty flat in Madrid STILL costs +250K€. For many parts in the world, that's still a crazy price. A flat in a sea city, very very normal (average qualities, maximum 2 rooms, etc.), can still cost +150K€, which IMO is not "cheap" in absolute terms. It's still 10 years of full salary for the average Joe. Of course you can buy a flat in an abandoned "resort" for less, but I can guarantee you that pretty much sucks.
If you are really interested in it, drop me a PM and I will give you directions, I would gladly help.
Wikipedia info about the spanish housing bubble: https://en.wikipedia.org/wiki/Spanish_property_bubble
An example of lots of abandoned sea-side construction: http://www.burbuja.info/inmobiliaria/burbuja-inmobiliaria/202508-heridas-inmobiliarias-costa-mediterranea-fotografias.html
I'm Spanish.
Yes, real state prices have dropped, here you can see the average price drop chart: http://casas.facilisimo.com/preciometro/ and here you have more customizable charts http://www.fotocasa.es/indice-inmobiliario__fotocasa.aspx were you can select province and timespan.
A lot of developments in the coast are being sold at a loss and many Real State developers wen't bankrupt so banks are now struggling to sell those properties.
However, the Premium/luxury areas of Spain haven't seen such a significant impact from the general Real State price drop.
All in all, yes, it's a good time to buy, but choose wisely were you buy in Spain there are huge differences in quality between different provinces.
Yes, real state prices have dropped, here you can see the average price drop chart: http://casas.facilisimo.com/preciometro/ and here you have more customizable charts http://www.fotocasa.es/indice-inmobiliario__fotocasa.aspx were you can select province and timespan.
A lot of developments in the coast are being sold at a loss and many Real State developers wen't bankrupt so banks are now struggling to sell those properties.
However, the Premium/luxury areas of Spain haven't seen such a significant impact from the general Real State price drop.
All in all, yes, it's a good time to buy, but choose wisely were you buy in Spain there are huge differences in quality between different provinces.
Depends, those places are pretty full with tourist. If you want a nice quiet place somewhere then they are generally cheaper. They have slightly risen tho.
I also saw on BBC a guy bought a whole town for 25k Euro.
A condo honestly would be the best for my needs as I would not be there most of the time to take care of it.
Thanks.
Got a link by chance?
Depends, those places are pretty full with tourist. If you want a nice quiet place somewhere then they are generally cheaper. They have slightly risen tho.
From what I've seen, properties on the south Mediterranean coast (Costa del Sol and so on) are still pretty expensive.
My aunt has 3 properties in Spain, she bought them at rock bottom prices. So many unfinished builds out there where they ran out of money due to no buyers. You can pick up a nice bargain but there is no telling when the market will pick up.
I was told in a different topic that houses and condos "could not sell at any price" in Spain.
Are they like crazy cheap now? I would not mind buying a house/condo near a beach or something in Spain.
Anyone here in Spain know?
Thanks
Are they like crazy cheap now? I would not mind buying a house/condo near a beach or something in Spain.
Anyone here in Spain know?
Thanks
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