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property prices easing?

Posted: Sat Aug 10, 2019 11:10pm
7 replies217 views4 members subscribed
Lancelot

Lancelot

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So I have been monitoring prices on the usual property portals for a year and a bit now.

It seems the same properties are for sale at the same amount as when I first looked and they are still for sale but some, albeit a few, are starting to advertise for around 11% less which on a property up for 179k Euro down to 159k Euro is a fair bit.

What are your experiences as both buyers and sellers.

Incidentally we can't commit now until after Brexit.

Cheryl

Posted: Sun Aug 11, 2019 11:07am

Cheryl

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Posted: Sun Aug 11, 2019 11:07am

I firmly believe that any property will sell at the right price and any reduction in possibly overpriced properties could be swallowed up with currency fluctuations. If you catch someone who is desperate to sell at a reduced price at the right time you could still end up having to pay tax on that "bargain" a few years down the line.

http://www.antonioguillen.co.uk/2017/10/buying-property-in-spain-under-value/

This is an interesting article, https://www.globalpropertyguide.com/Europe/Spain/Price-History

Brexit is going to be the biggest factor for UK buyers. For holiday home owners there will be restrictions on long stays and higher non-resident taxes and for those wanting to live here full-time there may well be higher financial thresholds for Residency.

My own experience is that moving to Spain was reliant on my own personal circumstances at the time and the general price of property and the exchange rate were not factors at all in my decision. I could have waited years for the exchange rate to improve or for something like the crash of 2007/8 and then the bottom could have fallen out of the UK market.

At least after Brexit you will be certain of what you can and can't do.

Lancelot

Posted: Sun Aug 11, 2019 11:29am

Lancelot

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Posted: Sun Aug 11, 2019 11:29am

Clearly places are selling and tbh I think plot sizes vary and cause some differences in prices even when the house types are the same, corner plots for example.

You are right in that at this time GBP v EUR rates are inflating house prices for UK buyers even if asking prices in EUR are easing slightly.

Oct 31st will be the one to watch - any kind of salvaged compromise/ deal will hopefully settle things down and improve the exhange rate. If we get a no deal exit then likely we'll have to come up with a plan b.

Lancelot

Posted: Sun Aug 11, 2019 11:32am

Lancelot

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Posted: Sun Aug 11, 2019 11:32am

Also how would you find out "the minimum tax value" for a given property at an early stage in proceedings?

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Cheryl

Posted: Sun Aug 11, 2019 11:38am

Cheryl

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Location: Albatera

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Posted: Sun Aug 11, 2019 11:38am

Lancelot wrote on Sun Aug 11, 2019 11:32am:

Also how would you find out "the minimum tax value" for a given property at an early stage in proceedings?

Ask your independent Abogado (@ solicitor) before you put down any deposit. Never rely on information given by Estate Agents.

Lancelot

Posted: Sun Aug 11, 2019 11:41am

Lancelot

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Location: La Finca

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Posted: Sun Aug 11, 2019 11:41am

Thanks - you might not know Cheryl given your location but can anyone please recommend an English speaking;

1/ Gestor

2/ Abogado

In Guardamar area who could cover an El Raso property.

Thanks

Cheryl

Posted: Sun Aug 11, 2019 11:44am

Cheryl

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Location: Albatera

Joined: 8 Jun 2017

Posted: Sun Aug 11, 2019 11:44am

getlegalinspain.com. We were introduced to Uma when we were having trouble with all the bureaucracy and she sorted everything out for us at a very reasonable price. She is Spanish, speaks perfect English and covers that area. Have a look at her website.

Willy

Posted: Sun Aug 11, 2019 3:46pm

Willy

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Location: Benijofar

Joined: 26 Feb 2018

Posted: Sun Aug 11, 2019 3:46pm

Mar at Sol4 in Benijofar she is great and won't miss anything,  We can highly recommend, see link below for details.

In our experience prices vary a lot so tell them the price of the property and ask for a full breakdown of charges so you know what you will be paying the difference can be dramatic.

Good luck.

http://www.sol-4gestion.com/component/content/article/2-uncategorised/21-aviso-legal?Itemid=101


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