Buy a plot of land in Spain for £500

I’m working on a Tonight, ITV’s current affairs series and we’re investigating whether now is the right time to buy in Spain. We're following the story of a village that has an auction selling plots of land for as little as £500. We want to take a potential British buyer out there to see whether this is a golden opportunity or not. If you're interested please get in touch

Thanks

James

As it's an auction i bet the starting price / reserve price is £500.

In Spain legally to build 1 house a plot needs to me a minimum of 10,0000 sq.meters. Unless it's an urbanisation. The land needs to be urbanised and not classified as rural as it almost certainly will be inland. £500 for a rural plot where you can grow very little is expensive.

This kind on nonesense publicity without research is tabloid TV. 

In Spain legally to build 1 house a plot needs to me a minimum of 10,0000 sq.meters.........................

It depends on the classification of the land and that varies considerable from place to place within a municipality and between various municipalities

Quote from a solicitor's web page:-  

There are several types of land included in this classification, like green areas, protected areas, mountains, lakes, public areas, etc.

Inside this classifications there is the “rustic land”. This is a land which must be used to grow for farmers. So, the only use allowed in this land is to “grow”, or to be used by farmers to develop an agricultural activity.

But, in this land, it is authorized to build new constructions, eventually. These constructions must be in a very low density of construction. So, is very common to find that only when the land has a minimum size (5.000 m2 in Murcia, passing to the 10.000 m2 in the Spanish Land Law (Ley del Suelo), or 20.000 m2 in over protected areas), you are authorized to build there a construction, also called “cortijo”, “villa”, “masía”, chalé”, “chalet”, “hacienda”, etc.

Of course, there can be houses in rustic over plots smaller than the minimums required in the different areas. This is because these buildings were built before the new  regulations entered in to force, or, simply, that they were built “illegal”. In these cases, these houses are respected by the public institutions (even it they were built illegal and the file of the infraction has not been expired), and can be reformed, but not extended.

Thanks Elaine. No wonder there is so much illegally built property the laws are wooly and ineffective.

My son develops land in UK and that is an absolute nightmare of tangled regulations. He has a good business because of all the complications, having spent a lot of time and money on understanding the pitfalls.  So not that different in Spain,  I think.

The programme is questioning whether these so called deals are as good as they seem at first glance. 

Here are some details:

This is how the stupid spanish work, some apts i was looking at a few months 25k did not sell them all , so what do they do, put them up to 33k.and sit and hope they sell them. in the mean time community fees that would be paid bt a new buyer go unpaid. WAKE UP SPAIN

This is how the stupid spanish work, some apts i was looking at a few months 25k did not sell them all , so what do they do, put them up to 33k.and sit and hope they sell them. in the mean time community fees that would be paid bt a new buyer go unpaid. WAKE UP SPAIN

Classic example of good business, I do this all the time when I cant sell something, works 9 out of 10 times as well, not saying this would work with Spains house's, but I would try this for sure if they wouldn't sell. The dippy buyers are scared when some items are to cheap they think somethings wrong, nothing usually is but it works.

These villages I am afraid have no hope at all. This one in particular hasn't had a birth of a child in over 44 years, 15 people live there and is over 50 km from the nearest town. If the land was given away they would still have the same problems: schools, medical services are all a major problem. Unfortunately these villages are destined to disappear as many have done over the years. What ever you build is worthless as you could never sell it to anyone. So unless you are prepared to spend the rest of your days in an isolated hamlet with 15 neighbours I would stay away from these types of auctions :)

New world   This is how the stupid Spanish work, some apts I was looking at a few months 25k did not sell them all , so what do they do, put them up to 33k.and sit and hope they sell them. in the mean time community fees that would be paid bt a new buyer go unpaid. WAKE UP SPAIN

Some years ago I had my house up for sale in UK. After many months it had not sold.  I decided to out the sale 'on hold' but I did not want to take it off the market.  So I increased the price by 10%, assuming that would stop people looking.  Surprisingly I had a lot more interest and sold it in a couple of weeks. At the higher price !

If one sees a property getting cheaper and cheaper, then they may be inclined to wait until it hits bottom (whatever that might be) so increasing the price might spur some to get in before it goes up again.

Who knows ?

This message was last edited by elaineG on 30/08/2013.

elaineG----- i KNOW WHAT YOUR SAYING, BUT LIKE YOU SO  ( Some years ago I had my house up for sale in UK ) its just not like for like, we are talking 2013 and Spain in the middle of a banking crisis. The Spanish banks need shift 100000s of properties asap

baz1946-------You say  (Classic example of good business) dont think so,  because at 25k i would  buy but at  33k  i will not,and im not alone, im still waiting for the bank to get back to me with the latest availability i only asked for it on Monday of this week still no joy. 
 

New world, I object to your totally uncalled for derogatory comment about the Spanish (This is how the stupid Spanish work)  and when you say, " ….. because at 25k I would  buy"  I disagree.

At present I would not buy in Spain at any price.  Over-all prices are still falling and even so the property market is still declining.

Quote:     'Residential property sales are continuing to fall in Spain and are now just a third of what they were in 2007 before the economic downturn kicked in, according to figures from notaries. On a year on year basis sales as of the end of June were down 26.9%, the figures from Spain’s Council of Notaries shows that prices are down 13.3%. The average price of a home in Spain is now €1,206 per square metre'...  From Property Community.

elaineG   i quoted because at 25k I would  buy"  you reply  ( I disagree), well make you mind up then you say

(At present I would not buy in Spain at any price.  Over-all prices are still falling and even so the property market is still declining )  WELL IVE JUST TOLD YOU THE BANKS ARE PUTTING  THE PRICES UP., SO ARE YOU WAITING FOR THE PRICES TO UP MORE BEFORE YOU BUY, OR ARE YOU JUST DREAMING ABOUT OWNING A SPANISH PROPERTY, MAYBE ITS NOT JUST THE SPANISH THAT ARE STUPID ? 
 

baz1946-------You say  (Classic example of good business) dont think so,  because at 25k i would  buy but at  33k  i will not,and im not alone, im still waiting for the bank to get back to me with the latest availability i only asked for it on Monday of this week still no joy. 

I did say wasn't sure if it would work with Spanish house sales and thats mostly due to the large amount of house's for sale, and all the media reports of how the market is overbuilt, but if you cant sell at the lower price give it a go at the higher price and if need be let any buyer make an offer so they think they got a  good deal. 

The only reason you wont buy at a higher price is because you saw these house's for sale at the lower price,  no good increasing them to you is it? a new looker wouldn't have seen them perhaps, plus the thinking is can be 'Better get in now because the market is rising once again' not to many people look much further then the second finger on the left hand when parting with money.

I have business's and you would be surprised how many times I have increased the price of items, and we are not talking a couple of quid either, so yes it does and can work very well.

baz1946 you are correct once ive seen something at a price thats ok, i will not pay a penny more, in fact i still want it for less, ive just bought a property in Cumbria the builder was knocking off 80k,but i made him a offer asking for more money off and got a further 15k off, its just the way i am. bargain hunter.
 

New world,"OR ARE YOU JUST DREAMING ABOUT OWNING A SPANISH PROPERTY"

Sorry to disappoint you,  I bought in 2002, so even at the worst, I am still ahead of the market.