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Why are so many of you moving back

Posted: Sun Feb 18, 2018 7:27pm
59 replies4720 views15 members subscribed
marauder

Posts: 44

7 helpful posts

Hi to all , 

We are currently staying on Mar Menor Golf resort whilst we look for property in Campoverde. We have already viewed 3 properties and have more viewings this week. It's noticeable that most of the properties are owned by Brits moving back.

Is this a natural cycle or is the uncertainty about brexit having an effect.

Your thoughts would be appreciated

Regards

Paul

PeteKnight

PeteKnight

Legendary helpful member

Sun Feb 18, 2018 9:11pm

Posts: 2039

Location: Villamartin

2245 helpful posts

Posted: Sun Feb 18, 2018 9:11pm

I doubt that many people will leave Spain because of Brexit. Those that are here know it won’t make much difference.

There is a natural cycle. Some people buy a holiday home then realise they don’t use it much. Others move out here when they retire then decide to move back when they get older to be nearer to family or to receive care in the UK.

Also, the market was depressed for many years and only started picking up two or three years ago. People may have been hanging on to property in the hope that they would recover to former values (which they haven’t) but may have decided that now is the time to sell. The exchange rate isn’t great just now, which hurts buyers, but is great for sellers as they get more Pounds for their Euro than when the rate was higher.

There’s also the chain reaction of one person deciding to sell-up and others following suit because the topic has been discussed, and old friends are leaving, so maybe it’s time for us to do the same.

In many ways it helps you, as high supply of available properties keeps the prices lower and increases your choice.

Pete.

Ada

Ada

Helpful member

Sun Feb 18, 2018 10:10pm

Posts: 429

Location: Torrevieja

220 helpful posts

Posted: Sun Feb 18, 2018 10:10pm

Hi many of the people in Spain Expats  have been here a long time it is just a natural process but you will find many more people looking to come for the benefits of the Spanish climate do not believe that the average person would go back to blighty especially with brexit!  Be aware property prices are only going one way at the moment and it is not down! as the old saying goes make hay whilst the sun shines!

marauder

marauder

Original Poster

Mon Feb 19, 2018 10:00am

Posts: 44

7 helpful posts

Posted: Mon Feb 19, 2018 10:00am

HI, interesting replies.

I agree that brexit will not make much difference to those living Spain already , or for myself as I have been living in France for the last 11 years. However I think it has had a effect on Brits currently thinking about moving to Europe. It has created uncertainty which has had an effect on the market. The current exchange rate does not help either, great for those selling ,as it off -sets the reduction in property prices but not so good for buyers. My own feeling is that once brexit is sorted ,and more importantly the exchange rate recovers then house prices will begin to rise again . I don't see them moving upward at all in the near future. At present supply out- strips demand.

Paul

Ada

Ada

Helpful member

Mon Feb 19, 2018 10:23am

Posts: 429

Location: Torrevieja

220 helpful posts

Posted: Mon Feb 19, 2018 10:23am

Hi prices are rising in the Rojales Quesada areas slowly but rising no shadow of doubt as we have been watching the markets carefully. 

marauder

marauder

Original Poster

Mon Feb 19, 2018 10:37am

Posts: 44

7 helpful posts

Posted: Mon Feb 19, 2018 10:37am

Well that's good news as I have a house to sell in France. I bought my property there before the crash and have no idea what it may be worth now, I'm hoping around the same as I paid for it 14 yrs ago.

The only saving grace for me is that it will be a euro sale and exchange rates won't come into it.

Good luck to all of you both buyers and sellers

Paul

PeteKnight

PeteKnight

Legendary helpful member

Mon Feb 19, 2018 10:41am

Posts: 2039

Location: Villamartin

2245 helpful posts

Posted: Mon Feb 19, 2018 10:41am

It's quite easy to monitor asking prices, but much more difficult to monitor selling prices. The two generally tend to be linked, but just because asking prices are rising doesn't mean that house prices are actually increasing.

At the moment, it seems that it's people from other countries within the Eurozone that are buying, as Brexit and exchange rates doesn't affect them. The cultural approach to buying property and negotiating the price varies quite considerably across Europe.

Pete.

Ada

Ada

Helpful member

Mon Feb 19, 2018 10:46am

Posts: 429

Location: Torrevieja

220 helpful posts

Posted: Mon Feb 19, 2018 10:46am

Sorry should have said monitoring buying and selling property and no I am not an agent, also many friend have bought recently so I can tell you fact prices are rising in the area.

operationdinnerout

operationdinnerout

Helpful member

Mon Feb 19, 2018 10:58am

Posts: 732

Location: Beniarbeig

447 helpful posts

Posted: Mon Feb 19, 2018 10:58am

Prices have been rising on the Costa Blanca North for about a year. Not every property in every location, but desirable properties in desirable locations. There are still plenty Brits looking here - not as many as pre Referendum - but the ones that have held back are being replaced by northern Europeans.

Steve

Petefromwales

Mon Feb 19, 2018 11:35am

Posts: 12

Location: Jacarilla

2 helpful posts

Posted: Mon Feb 19, 2018 11:35am

PeteKnight wrote on Sun Feb 18, 2018 9:11pm:

I doubt that many people will leave Spain because of Brexit. Those that are here know it won’t make much difference.

There is a natural cycle. Some people buy a holiday home then realise they don’t use it much. Others move out here when they retire then decide to move back when they get older to be nearer to family or to receive care in the UK....

...

Also, the market was depressed for many years and only started picking up two or three years ago. People may have been hanging on to property in the hope that they would recover to former values (which they haven’t) but may have decided that now is the time to sell. The exchange rate isn’t great just now, which hurts buyers, but is great for sellers as they get more Pounds for their Euro than when the rate was higher.

There’s also the chain reaction of one person deciding to sell-up and others following suit because the topic has been discussed, and old friends are leaving, so maybe it’s time for us to do the same.

In many ways it helps you, as high supply of available properties keeps the prices lower and increases your choice.

Pete.

I recon that BREXIT is a strong point  for people moving back but also the other reason is what Pete has written I for one am not yet a resident had my property for 14 years and a pensioner, I would like to do things to make my home better but untill we know exactly what will happen with the dreaded BREXIT I am doing nothing.

I am also amazed about the many X pats out here they all seem to be sure that things won't change, I hope they are right""

Pete.

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