03 Oct 2010 12:00 AM:

** EDITED - Against forum rules **
Forum thread: UK Debt Collection Agencies

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07 Mar 2008 8:55 AM:

Thanks Roberto. Yes, the Mallorca analogy is interesting. Prices there seem to be very strong, but probably due to the fact that it is a major market for the Germans, who will never discount their properties (but they discount everything else!). The lack of over development also helped, but to me prices in Mallorca and Ibiza are way too high - but also fuelled by the Catalans who holiday there and not Marbella, where the Madrileños holiday (for those who didnt know this - there is still pretty much a mutual hatred between Madrid and Barcelona - even to the point of where thy go on holiday).

During the Inquisition during the 1490´s when Catholic Spain retook the country from the Islamic Moors, they also set abount a slaughter of Jews who just happened to be there historically and who were very good at making money. So everytime they found some Jews, they would round them up, denounce and torture them and burn them at the stake in the main plaza. This event was known as the Auto de Fé. Many of the Jews fled to Portugal and back to the middle east and were known as Ladino´s. You can still hear Spanish spoken in places like Istambul and Jerusalem and Flamenco is also found in there. If you want to hear some Ladino singing (a mix of arabic/flamenco), check out the beautiful Yasmin Levy on the web. I could see this practice becoming popular again for the tourists to witness, if Estate Agents were hounded out of Spain. I rather fancied myself in the role of Witchfinder General!! (if you remember that old Vincent Price film).

Cheers

Byron

 

 

 

Forum thread: Is there VALUE in the Costa de Sol Market?

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06 Mar 2008 11:12 PM:

You guys obviously dont live in Marbella. Here we are in the "eye of the storm" A lot of agents are simply refusing to take on new listings e.g. Andalucian Dream Homes. Others are virtually wiped out e.g. VIVA (no offices left open) and still others have ultimate offensive strategy e.g Engel & Volkers- "we will only sell your property for 7.5%" - typically arrogant Germans.  For those of you who are not aware of what is happening in Marbella - this is the reality. I should know as I am trying to offload 2 properties here, one at 75k less than I paid 3 years ago. With the scale of the Pound/Euro depreciation, the Brits are finished here - witness SUR (in Spanish) all this week promoting Marbella´s close ties with Germany. The Spanish are scared shitless as they know the Brits will go to Croatia or the USA this year. In a market where those of us who really neeed to sell are faced with such attitudes, anyone paying an agent over 5% is mad. You wouldnt want to be an estate agent in Marbella at the moment - Auto da Fé - for those of you who know a little Spanish history.

 

 

 

 

Forum thread: Is there VALUE in the Costa de Sol Market?

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12 Feb 2008 12:00 AM:

Check out some of the crazy prices now being listed on Eye on Spain and you can see it really it a BUYERS market. Nothing wrong with the properties or the area, just a natural flushing out of the system. Mainly sellers who have overstretched or tired or the whole spanish property scene. Some are selling at 75-100k less than they paid. Forget what Bank valuations are saying - just ask for proof of what the Buyer paid originally. Remember, never trust Spanish banks, lawyers or their valuations. Just look at what was paid on the escritura. Current bargains - Majestic Hills, La Quinta, Los Arqueros, Soto de Marbella - all quality product.

Forum thread: Is there VALUE in the Costa de Sol Market?

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03 Jun 2007 9:25 PM:

Hi

Caroline - I would suggest you check the contract delay clause with your lawyers, if it is 6 months then your assertion would be correct - normally, 3 month delay clauses are the norm. Banus is a 25 minute taxi ride which will cost approx. 25 euro each way.

Dave, yes, I am one of many Phase 1 owners looking to take a substantial "hit" on the original Phase 1 investment, but that is not why I made the posting. Check out the General Forum over the last few days and you will see other posts that confirm the view here that if you can, pull out of any off plan investment and buy a resale from people like me who got the timing wrong - I accept my mistake, but this doesnt mean I would like to see others blindly buying at prices way over market odds. If I sell a Phase 1 penthouse bought in 2003 at 500,000 including taxes and fees, and I net out at 425,000 after taxes and agents fees, you can see that the 75,000 loss is very real to me, but a serious opportunity for those buying for investment reasons.

Cheers

Vince

Community thread: El Soto Phase 2 Prices

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