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We are in the throws of selling our Uk property (Home), and moving to Denia to live. But we are having to accept the fact that the value of our home has plummeted due to the lack of demand due to Covid19. Are property prices in Denia showing similar signs of falling ? Obviously without some parity, we will not be able to afford to move to. Thank you any information would be appreciated.
As CostaCouple says too early to say, estate agents are only starting to move from working at home to working at their offices this week and carrying out viewings while observing the distancing requirements. Bear in mind that the numbers on the Costa are very low at present and only when borders reopen and there is a flow of people back into the country will be begin to see the true impact on the property market. Also there is likely to be some people who have been dependant on rental income on their properties, often to pay a mortgage, that will be struggling and a possibility that the market will be flooded with many properties added to the large number already there.
John56 wrote on Mon May 11, 2020 7:32pm:
As CostaCouple says too early to say, estate agents are only starting to move from working at home to working at their offices this week and carrying out viewings while observing the distancing requirements. Bear in mind that the numbers on the Costa are very low at present and only when borders ...
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...reopen and there is a flow of people back into the country will be begin to see the true impact on the property market. Also there is likely to be some people who have been dependant on rental income on their properties, often to pay a mortgage, that will be struggling and a possibility that the market will be flooded with many properties added to the large number already there.
Judging by the number of posts just on this forum from many people all over the U.K. looking to move to Spain and I’m sure the number of people disillusioned with the current situation there prices may not well drop as much as some seem to think.
Only my opinion obviously!
Posted: Tue May 12, 2020 8:31pm
Hi Tom,
I'm feeling your pain, I've read that once the housing market unfreezes here, house prices (I'm in the South East) are predicted to fall by around 3% and take around 12 months to recover, but nobody really knows and wont until we are out of lockdown. Add into that, realistically we may not be able to travel to Spain this year, by which time the Brexit transition will have expired, we could be looking at a whole new set of criteria to fulfil to take up residence in Spain. I'm still getting my house ready for sale and doing my Spanish lessons and remaining hopeful that it will still be viable.
I wish you all the very best
Stay safe
Debbie
Posted: Tue May 12, 2020 9:25pm
Legendary helpful member
Tom4 wrote on Mon May 11, 2020 6:53pm:
We are in the throws of selling our Uk property (Home), and moving to Denia to live. But we are having to accept the fact that the value of our home has plummeted due to the lack of demand due to Covid19. Are property prices in Denia showing similar signs of falling ? Obviousl...
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...y without some parity, we will not be able to afford to move to. Thank you any information would be appreciated.
I think it's too early to say if prices are dropping here. A brief look at Rightmove Costa Blanca North suggests there hasn't been a rush to market. If you do follow that site be aware that some agents will withdraw properties and relist them so that the property appears to be a "new" listing.
I did see a slight increase in villa properties 250-350k so it's possible there is some movement there, but many sellers wait until Spring to list in a normal market so it may just reflect that.
I didn't see any significant growth in apartment listings 80-120k.
By July/August the situation may become clearer as people find out whether they actually have lost their jobs or businesses and need to sell.
Best regards
Steve
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