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Bargains, bargains, bargains
Monday, May 26, 2008 @ 1:36 PM

I was with a friend over the weekend who owns Hamilton Homes in Manilva. He was at the International Festival at a stand for local businesses.

He was giving out some flyers for local properties and I was amazed at some of the bargains on offer:

Bargains in Manilva

These properties have selling prices similar to what they would have been 4 - 5 years ago!

Good time to buy? Very possibly...

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Stevie said:
Monday, May 26, 2008 @ 7:20 PM

There do seem to be some good value properties there. My only concern would be if they are liable to come down any further. Who knows but certainly good value now.

steve said:
Tuesday, May 27, 2008 @ 11:58 PM

The other problem is the euro rate - is it going to get any better or worse?

joe said:
Wednesday, May 28, 2008 @ 12:56 AM

They know how to sell,,and enjoy a good carrot

skin said:
Tuesday, June 3, 2008 @ 6:43 PM

If we knew the answers we would all get rich * * * *i am waiting a bit longer as i think there stilloverpriced for the quality you get.

Tim said:
Wednesday, July 2, 2008 @ 1:00 PM

Because prices are down from last year doesn't necessarily make them a bargain. A bargain is when the nett yield on a property is 10% or more. Property in Spain is still 100% overvalued and will fall in half over the next year or so. That will be the good ones, most will be unsellable at any price. We have had the boom, now we get the bust, prices don't just fall to fair value they will fall much further. If you doubt this you need to do some history. House prices must now adjust to local wages, which in Spain are low, very low. Simply put the average rent here in Spain must meet the average mortgage finance costs. So either wages and rents go up, or house prices come down. I would not bet on teh former as we head into a depression and rocketing unemployment. I know it looks like a bargain now, but trust me thats just because we are measuring value by bubble prices, never a good idea.

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