Posted: Thu Jan 18, 2018 9:58am
We chose to buy now, the reason being there are less buyers because of the £ situation meaning we got a great 3 bed villa, two balconies and a garden in Relleu for €65,000 on a site where resale’s are going from €105,000 to €140,000
I would caution about awaiting the £ to go back above the €1.20 there is so much instability plus if the rules change you may get caught out.
I would suggest keeping an eye on xe we got €1.1366 to the £ which we where happy with as it had gone as low as €1.06 to the £ of you can get €1.12 or above and you get a great price on your purchase it would be worth it.
Ours was a bank repo and the spanish government had recently chased banks to start selling the vacant properties so we where there and got it for €20,000 less than asking price percentage wise it’s huge!
All we had to do to it was clean it (vacant for 4 years) and have it repainted and the garden weeded. We decided to replace oven, Hob etc
My suggestion is buy when the markets dead, don’t listen to estate agents we where told there are 8 people lined up and a German couple coming back in their second viewing, when an other agent said there had been no viewings in 3 years!!!
We also found the state agent marketing pictures are awful, we had walked past our villa, but it was marketed as a two bed apartment we knew it was a three bed villa the pictures they used you would never have gone and looked at it, but we knew where it was and what it looked like and pounced.
Their are killer deal out their you just need to use all the property websites you can, speak to as many agents as possible and look at the photos carefully. We saw properties where the marketing pictures show them clean and freshly painted when you view it’s clear they haven’t been painted for 3+ years meaning it’s been in the market for ages. Also use google street view. We where sent the details of an amazing property with a pool in our budget!!
Looking on street view all the houses around where empty and in bad state of repair with lots of graffiti etc. A ghost street.
Good luck, buy low as you won’t make any money buying property in Spain but unlike the poor bloke who bought our villa in 2007 he paid €149,000 lost the place and we paid €65,000 in 2017 I can’t see me loosing any money now, we have bought it for ten years until the kids grow up. It’s only a holiday home but still puts a smile on my face every time I turn up