Costas suffer bigger property price drop than other parts of Spain
A recent article on Propertywire.com takes a look at how property prices throughout Spain are falling. In Barcelona alone: “new housing starts are down by 80%, and prices are falling according ot the figures from idealista.com - a Spanish property portal.” and the “coastal resorts around Barcelona which have been popular with second home buyers [...]
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I Don't think the drop in property prices is really the problem. If you sell to buy elsewhere (including the UK) you would pay less for the new house... The problem is that houses are just not selling in the first place. I have heard of banks having a problem seling repossesed houses at 30% of their value.
CD
Hi CD on the whole I agree with you but some inland areas in Spain aren't seeing the massive drops the Costas are facing so if you want to move there you are a little stuffed
I think you are right about some banks not being able to offload some of their repossesed properties........also some third party companies appear to have a large portfolio of this type of property......I wonder if you will see the third party companies commission rates dropping in an attempt to attact biz
Last edited by JazminesII; 05-01-2009 at 16:18.
Thinks that if all economists were laid end to end, they would not reach a conclusion
Jaz, having lived in Cordoba, which is a fine city with a wonderful historic past. I found the summers too hot and the winters too cold. It is a great place to visit, but I found it somewhat boring to live there. There is only so many times you can visit the historic quarter...I now live five minutes drive from the fabulous beaches of Guardamar del Segura, twelve minutes from Torrevieja. 30 minutes from Alicante airport and 30 minutes from Murcia airport..The weather here is as good as anywhere in Spain. In my Spanish class we have students from the UK, Germany, Holland, Norway, France, Belgium, Switzerland, and the Czec (not sure of the spelling) Republic. Although we don't speak each others language, we all use Spanish as a common language to learn about each others culture... I enjoy visiting inland Spain, but I love living almost on the Costa. A friend of mine wanted to move inland to Pinoso,(less than an hour away) as he had been there in the summer. We went in January and couldn't believe the change in temperature..It was freezing. He soon gave up the idea. I like to visit other parts of Spain, but where I live is where I call home and wouldn't want to leave. The Costas may have had larger reductions in the value of houses, but it is because there are more available. I believe that when things improve and people start to buy again, more will choose the Costas than inland..Then the house values will rise again, and make moving inland easier.
CD
Last edited by Thader; 05-01-2009 at 23:48. Reason: to add sentence
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