Spain is back in buisness.......

Look it is very simple.... they agents down in La Zenia have sold 300 new 2 bed apartment acroos the road from the La Zenia Boulavard in a few Months, most of them to Russians, I was in with them last Week they are now selling down in Punta Prima in the front line for €350,000 and the guy said the hope the will all be sold in the next Month, they are also sellling a lot of re-sale properties but the prices for these is not so good, they are a lot of distressed sales as well and people take advantage of another person's problem's. In our complex they were 4 Apartments sold in the last 2 Months so there is serious movement of proprerty in the Costa and that's good news for everybody, The La Zenia Boulavard has broken all records open now 1 Year as has gone from strenght to strenght..........

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The Russians and Chinese economies, their banking systems being independent of Western banks, have been more buoyant than those of West. Their nationals have cash to spend and are not reliant on banks. Besides, Spain this year has added 47,000 millionaires. There is money around.

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I went to La Zenia Boulevard two weeks ago and liked it more than the first time I visited it a year ago. It only took me five minutes to buy what I wanted, but ended up staying for a couple of ours. It is an amazing place with lots of coffee bars with cosy  outdoor lounges where you can easily spend a whole morning or afternoon watching the world go by, reading or just browsing the net. Not to mention the wide selection of shops.

We stayed in Torre de la Horadada, which, again, for a normally quiet sea side village, had a noticeably busier aspect to it. Most evenings, and especially on the weekends, the restaurants and bars were busier than they've ever been this time of year (we first discoverd Torre de la Horadada 10 years ago). To me this is a clear sign that Spain IS back in business.

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The positive posters were describing local conditions now. What is the point of knocking them by using NATIONAL statistics? Furthermore, these findings you ’disclose’ due to the publication date underscore the term irrelevancy. In such a debate they are quite irrelevant.

 I take your point regarding using national figures.  The Valencia region is showing falls of -4.2% for August YoY, and Murica -5.3%.  So better than the national average.

I guess we'll have to wait for the September and October figures from INE to see if the observations on this thread are reliable.

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My 28th Oct post:- 

My opinion has not changed over the past few years.   I have been repeatedly told I am wrong (including several times by Eggcup) when I have refused to accept ‘Real Estate agent’s ‘ views that the market is rallying.   Now that may be because I am biased, either because I have had no interest in selling or buying, or in the way I have read the info, but so far my opinion has been right:  “The market  has still some way to fall”.

 

Seems from this quote in El Mundo, I am not alone in my opinion.

              Authorized permits for new construction for residential use in Spain was 23,901 units in the first eight months of the year, representing a decrease of 25.6% compared to the same period of the previous year (32,133 units), according to data from the Ministry of Public Works (Ministerio de Fomento). Of this total number of licences between January and August, 16,169 were for flats in apartment blocks (with a year on year drop of 26.3%) and the rest, 7,721, were for single-family homes (- 24%).

             The building permits for 2013 continue the negative trend of the previous years. They marked a historic minimum (44,162 units) in 2012 and follow six consecutive years of falls.

             Since the peak reached in 2006 of a massive 865,561 residential units, these permits had plummeted more than 95 percent by the end of 2012 . ………………

                 'Five years after Spain's property bubble burst, hundreds of thousands of new and unfinished properties remain unsold throughout the country. Finding buyers will be a slow process: in a country where the perceived wisdom has always been that bricks and mortar never go down in value, real estate companies, as well as homeowners, have had to get used to the idea of selling at lower prices, assuming that the banks start lending again. Meanwhile, some of the biggest companies in the world have had to eat humble pie, reduce their size, and in some cases have simply been swept away.

                 Slowly, and reluctantly, the property sector is facing up to one of the major reasons nobody is buying property: the huge numbers of homes that remain unsold, some of them unfinished'... From El País in English. Perhaps, continues the article, '...as happened in Ireland and the United States, which were also hit hard by the collapse of the property sector, one solution may simply be to knock some of them down'...

 

 

This message was last edited by johnzx on 07/11/2013.

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I just wanted to pickup on something ob123 wrote earlier in the thread:

Look it is very simple.... they agents down in La Zenia have sold 300 new 2 bed apartment acroos the road from the La Zenia Boulavard in a few Months, most of them to Russians, I was in with them last Week they are now selling down in Punta Prima in the front line for €350,000 and the guy said the hope the will all be sold in the next Month, they are also sellling a lot of re-sale properties but the prices for these is not so good, they are a lot of distressed sales as well and people take advantage of another person's problem's.

I've just seen the front page of the Euro Weekly News, which says that during the first 6 months of 2013, there were 251 Russian buyers on the Costa del Sol.  And bearing in mind that the vast majority of Russians buy in Marbella (Costa Del Sol), I find it difficult to believe that nearly 300 Russians have bought in La Zenia.  Clearly nonsense.

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Hi Sachez 1 ..............I was there and I asked the agent  what's for sale here in La Zenia he said they are all sold out and the buyers mostly Russians I have this information first hand, don't mind what the papers say, I am telling you the facts, the place is booming do you realise that Marbella is for the super rich, and Torrevieja is for those who want superb value at the right price............ in one of the healtiest place in the World to live...........Torrevieja

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Oh yes,  the agents will always tell the truth, one cannot trust Giverenment stats ....................

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OK explain this then........ I went in with a guy to the show house who was looking to buy a property and if they had anything for sale I'm sure he would not make that comment........that they were all sold out, however you now it's all good news and Spain will always be popular because in 2 hours 20 minutes you are there from the U.K. or Ireland and that's a huge advantage....

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This debate has completely missed the original point of our comments on the housing market situation in Spain. The point being made is the eye watering number of Euros that have been lost by thousands of people from England and indeed Northern Europe. There is little or no chance of these people recovering any of these deposits and part payments usually anything from 45000 to 120000 Euros. Even when court judgements have been won and banks identified nothing happens. The properties were built, deposits taken and thousands of properties simply never got released and sit there empty. This is nothing to do with the situation in the US or negative equity it is about developers, banks, builders who are are dishonest devious and totally unscrupulous. We supposedly won our case in the courts in Murcia and we even prior to this posed the question what would happen if this was allowed to drag on until the developer went bust.This company's so called address was an unoccupied unfinshed office block on the main route out of Murcia. This company (or better described these criminals ) went into Administration at the beginning of the year for a staggering 62,000,000 Euros. A large proportion of this is owed to the banks. How would a bank director driving past this address not ask how does this company function. They are not bothered because they and the local authorities are and have been complicit in defrauding thousands of genuine people of their deposits on thousands of properties that have never been released.

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i believe the real estate boys, why would you not trust them? Forget the fact that there is no jobs for half the youth or that Spain is bankruot and going back to the Peseta.Real estate boys always tell the truth, how else would they survive. Looks like my plan to move to Spain is over before it begun, or perhaps i could try to rent a place there privately.

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I bought my property this summer. At the end of the day, different people may have different takes on what a fair price is and what its worth. The price I payed was about half of what it had been worth several years ago, so you could argue that was a good deal. On the other hand, that higher price was probably inflated by the bubble and the truth may be somewhere in the middle. I had two independent valuations done are they came out with totally different figures, leading me to observe that nobody really knows what properties are worth any more. My take is that if you feel good about what you're paying, then you're not paying too much. My observation from all the places I looked at was that the market may be down, but properties are still not moving because owners are clinging onto properties in the hope that prices will recover and many asking prices are still unrealistically inflated. Those who are selling are in dire straits and need money urgently. Anybody who can afford to is waiting for things to pick up. I have looked at several properties (many of them bank reposessions) that are clearly suffering and degrading due to a prolonged period of being uninhabited, and at some point owners will be forced to either renovate or let the properties go significantly cheaper.

 I bought my place in June. I wento to see my estate agent some weeks ago for a chat and he says since selling my place he has sold only one other property, and he has no further hot leads in the pipeline either. He is surviving on the holidays rental part of his business. There used to be three other estate agents on his street. Two of them have closed down. Things are not looking good.

This message was last edited by amogles on 10/12/2013.

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You know something... most sales are new properties all the Russians are buying them up, good value and very modern, re-sale's are going ok but only at the right price and the price they are now is really only what the were ever worth, I am not to far from The New La Zenia Boulaverd and they are building across the road 6 different lots and they are all sold out, they have only a few left in the front line down in Punta Prima. so that is a good thing to see the buzz is slowley coming back to paradise........

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