SPANISH house prices could drop by a further 50% and may not recover for the next 15 years, according to experts.

The Costa del Sol is among the worst affected areas in the country, with the total fall in values predicted to be as much as 75% in some areas.

There are 800,000 used homes on the Spanish property market, with another 300,000 having been foreclosed by the banks and a further 150,000 in foreclosure proceedings.

What’s more, developers have 700,000 completed units not on the market and another 250,000 still under construction.

“The market is broken,” said Fernando Rodriguez de Acuna, vice-president of Spanish economic consultancy RR de Acuna & Asociados.

“In places like Castellon, near Valencia, where over-development was mad, banks are not financing anything and there is a high probability these properties will never be sold. They will have to be knocked down.

“Banks are offering huge discounts and nobody is calling. Marbella has already fallen by 50% and prices are going down and down.”

350 COMMENTS

  1. Mike, Fred and most that deride Spain.

    I can now see where people may have miss-read my point of view due to them still working for a living. Mike stuck with property that he cannot shift. Fred concerned about the disclosure of his assets and people that are concerned about all the bad things in Spain.

    The problem is they have not yet reached the position of not getting up in the morning.

    I don’t think i have read anything from a financially secured pensioner living over here on this site. Can anyone of you direct me to a section on this link that indicates such a person, i would be pleased to hear their response.

    In all the years i have lived here in Spain i have NEVER had any of the problems that have been mentioned on this site. Water, Gas, Electric, Telephone, Internet, Sky, cars, police, council you name it, washing machine and fridge break down, i’ve never had a problem with any of the mentioned items. Have you thought it must be you lot that seem to create these problems. If i need certain advice where the other party does not speak English and my Spanish is not up to it i employ a translator, especially if it’s at a hospital or doctor. That is the normal and proper way of conducting and living life, in fact none of my friend have those problems. .

    Don’t know where you lot come from.

  2. They are a constant on here don’t worry about it. Exactly Caccia, we’ve had problems getting sorted in Spain, but then once sorted you’re generally ok.
    Fred ‘little old lady’, you’re just a twisted old man who needs some Spanish lessons. I’ve never come across anyone on the internet as persistently vile!

  3. Back to the subject, personally I’d rather be living in a house that has lost 3/4 of it’s value and still be living in Spain somehow. Most of us scrape by but stay in Spain because we love it! Problems we all encounter along the way are certainly not ones to constantly WHINE on this much about ha ha.

    Can Olive Press please produce an updated article about how much buying and selling is going on in Spain lately too. (foreign buying has all increased) Just so people like ‘lol’ Fred don’t get run over worrying about it all.

  4. Cacc, stamp duty as you well know in the uk is ‘only 1% up to 250k’ and ‘only 3% between 250 and 500k’ ‘4% over 500k’

    The majority of UK homes are up to 250k so you know the transaction costs are only 1%, plus conveyancing via solicitor we get for well under £800 including search fees, lawyers fee, disbursements. Much much lower than Spain’s extortionate 11-12%. Then of course selling fees we get 1.25%-1.75% plus legal fees of £5-600 only, much lower than in Spain. This is one reason why Brits in UK can make profits when they buy and sell, plus there’s a shortage of homes, unlike the glut in Spain. Last count from R R Acuna of Spain was 2.25 million unsold homes.

    You’re having a laugh if you think illegal builds are common
    in the UK, and please point me in the direction of the demolitions of such properties. I don’t know of any, but it’s constant in Spain, oh, and let’s not forget their infamous Land Grab around Valencia.

  5. Mr Roger Stevens and yaya, thank you for my mornings entertainment, I laugh at the words vile etc, especially coming from you. As to yaya who ran a building Company in the UK and does not know if there are or are not any illegal builds in the UK, me wanting to buy more houses in Spain… It is like listening to Benny Hill. This article was first published a year ago and I expect houses have come down in price over that period as Mike states and there are many repossessions that can be snapped up and will be for years to come if you can get to the source but having said that I don’t think they will drop another 50% on todays prices. One of my places had an offer recently (although I do not have it up for sale because of the low value) and it was 30% less than the max price it was worth in 2007. Going to quality of life and again, I appreciate this is not for the retired yaya, but the schools seem quite poor out there compared to what I have for my kids in the UK.

  6. Mike,

    You are now going into the realm of extreme. it would appear that you may have come unstuck with the property you have over here thinking of making a few quick bucks but unfortunately it backfired. You appear to be in the same camp as Fred, disenchanted that the Spanish Government have cottoned onto the many things that foreigners were doing and the government were slow in the process of picking it up.

    I still have the total cost of all legalities regarding a finca that i purchased many years ago, still have it, also the finca, just under 800 pesos total, cost of the finca 6.8 million pesos, exchange rate at the time 1 million = £4500, value now around Zero because it’s not for sale, unless some stupid Brit makes an “offer i can’t refuse”.

    The problem here is that the Spanish cotton on quickly that there were plenty of mugs coming over and perhaps you may have been one of them. It’s also a pity when you mention two villa’s being demolished that you gave no indication of new builds that have started again and are in big demand with people that have money, all in the same paper as the demolish, but naturally the price of these new dwelling are well out of your price range. People that come to Spain either rent or purchase property to live and retire, other’s come thinking they will make money, evidence by how many bars run by ex-brits thinking of making a kill and sinking all their savings and redundancy money into a promised dream, but as a Spanish friend, that has six bars, which are let to Spanish and Brits explained that the problem with the English bar owner are mostly run by a husband wife team whereas with the Spanish the whole family chips. Invariably most of the Brit bars close which 20% of the sale price goes to him. Said he loves it.

    So don’t blame the Spanish for the stupidity of others.

    I recall when it was buyer’s market also in the UK. I was selling new built property at more or less cost price just to get shot of them, nobody was buying. So it’s horse for courses and at the moment property is good business in the U.K but that could all collapse like it did in Spain with easy money now being available.

    There is no profit to be made anywhere except people involved in the lending business and naturally one can downsize if and when the family have grown and left, but the value of any property is the value of your first purchase. The extra cash and downsized house is the same value of the house that was sold, all one has done is release some equity. But with those with a growing family the cost increases due to upgrading thus incurring extra mortgage. The only person or people that really do make a profit is the next of kin.

  7. Cacca, you know little about the UK property market to even ask if SD has been removed, to even ask ‘don’t they have illegal builds in the UK’ I asked you to point me in the right direction. You avoid answering my point that UK transaction costs are nothing like those in Spain, or more specifically about 1 eighth on an average purchase, and even much less even on £million+ properties.

    OP says you’re temperatures are plunging too wum, this is Blighty not Club Med.

    You make things up as you go along, your latest 3.10pm post purporting to know my present situation, wrong on all wild assumptions.

    Are you on waccy caccy? To to suggest I’m blaming the Spanish for the stupidity of others, where have I said that, and whilst you’re smoking your pot you talk absolute rubbish to suggest UK property ‘could all collapse’ as if the UK’s market was similar to Spain’s bombed out market, ever heard of supply and demand? Too much supply for too little demand in Spain, too much demand for too little supply in the UK.

    Run along and make up some more of your banal comments!

    Meanwhile I’m about to enjoy a rather good Gran Riserva Rioja.

  8. Reap,

    You must be thick as two planks, another mug caught by a Spaniard, and couldn’t quite understand what you were saying, all jumbled up.

    Which article are you talking about that had been published a year ago. If you are referring to new builds in Spain all you need to do is log onto SUR, two page write ups in this week issue. But then you’re stuck in the U.K hoping prices will reach the 2007 again in Spain, dream on.

    As for an illegal build, refused an extension to the back of a house which the owner wanted to pinch another foot or so in depth. The place was built by another builder. I could quote others but pointless. You do know there is also corruption in the U.K mate, not just in Spain.

    I could list quite a few but try this one for size Mr. Reap knowall, How about a row of small LISTED houses being demolished one SUNDAY morning by a demo friend to make way for a block of offices. The building inspector laughed as he relayed the story to me as his deputy rushed in on that Monday morning to tell him in a breathless voice that the houses had disappeared, or how about…forget it. As i said too many to list.

    The same demo friend phoned to say he was asked to quote for the demo of 40 garages behind a block of six shops i owned. The problem was i owned two toilets right in the middle of the 40 with the right of way over the land and for others renting the garages for use of toilets at a charge of £1 per year rent.

    Won’t tell you what it cost the developer to put six house on the land for those two toilets.

    If you wish to mail things then please be sensible as i find it a waste of time explaining simple things to simple minds.

  9. Mike,

    I could say the same to you. I still own properties in the U.K all rented through an acting agent and visit the U.K at least twice a year which are all listed legally over here as part of my assets.
    The properties i have return a decent income and are now worth a perhaps a considerable sum if i sold them.

    Most of my relations are in the property business, one in particular, a cousin, purchased land in Cyprus and built a complex of 12 villas all with pools. ALL sold except one which he uses as a holiday home.

    He Currently has purchased land in Epsom Surrey and plans passed for a block of six wow factor flats.

    Another 1st cousin, (female) just turned down £1.6 million for a three story house in Earlsfield London, her brother purchases houses at auction without even seeing them, renovates and sells on.

    Don’t tell me about not knowing about property.

    My last visit in Oct this year saw a house opposite one of the property go for £900K so i am fully aware of the markets in the U.K

    You appear to know more about this wacky baccy stuff more than i do and i don’t drink, perhaps that’s your problem.

    Here is a little teaser for you Mr property brains and it’s not a quiz. I purchased the freehold of a block 6 shops and a church, no deposit and the collateral to the bank was the 6 shops and the church. Repayment was from the rentals and was sold to a Korean business woman when the bank had been repaid from the rentals and i flew over from Spain to sign the contracts, Oh i didn’t need to pay capital gains, hows it done Mr business brains me boy.

  10. Mike,

    All i have read on this site are petty complaints by various people that somehow have got themselves in a mess in one way or another. Reading such drabble, including what you have written comes into this category.

    The Stamp duty i happen to mention was a sarcastic reply as though nothing is paid in the U.K when property is purchased.

    Example. A chap say’s “can’t see why there is why there is such a big difference in price between that mini and that roller, both cars, both get to the same place”, and so on, but the difference is that the person purchasing the roller can afford it.

    So one pays that bit extra in Spain on property tax but it’s a knock on effect. Not sure how long you perhaps lived in Spain but had you never heard of money being paid under the table at the lawyers office. To not being involved in this kind of transaction the lawyer excuses himself so that it could take place until the government stepped in to give their own value if they thought the property deemed to be under price. It’s not the government, it’s the people.

    It also happens in the U.K but in a more suttle way.

    When i purchased a flat many years ago in the U.K i had a good deal as the American woman desperately wanted to return to the States. The asking price was £70K i knocked her down to £65K. The sale price shown was £60K and furniture and fittings £5K. In those days stamp duty was paid on property of £60K and over.

    Still have the property, rented continually since then and now worth in the region of £300K

    The property i mentioned that was opposite to one other property in one of my earlier replies that was sold for £900k was a normal 3 bed detached with garage. There is no comparison of what one can purchase here for £900K which in Euro is around 1 million 600 thousand.

    That’s why people move here, people with money, and forget those that think of making a fast buck or wish to make a living in the sun. Must have been a reason for them to leave the U.K in the first place and why they picked Spain., only to be answered by them.

    But my point has always been that pensioners that are financially secure position, perhaps like myself, find living in Spain gives them a better quality of life.

    Forget the woes, bad deals, children, stuck with unsold properties (P.S. some place in the U.K will not even allow children or dogs to live on site but they can in Spain) no work etc and so on, but that was not i had been referring to and have had a deluge of mail pertaining to nothing but woes and nothing positive about Spain.

    I still regard the U.K as my home but as you can see prefer living in Spain. There are lots of things that do annoy me in Spain but that’s life, you either accept it or not, and those that don’t accept it return. But i bet you if those that returned had not had financial problems, they would still be here.

    This site basically is to give perhaps some personal advice to people wishing to live in Spain. It has some bad point, like in the U.K but also some good points, but not complaints about personal woes but advice in how to avoid those woes.

    Spain is a wonderful country with equally wonderful people, a place where children can still play safely in the streets late at night (like the good old days in England). Spain is a very family orientated place and if you fit into the criteria of the said pensioner i would highly recommend it. Forget the problems that are on this site, but get good proper advice from the professionals and you can’t go wrong.

  11. Mr Stevens,

    It would appear after reading some of the comments posted on this site we are dealing with a lot of dropouts, couldn’t sponge here as the Spanish government won’t allow it so they decided to return to the U.K to sponge, much easier there and the quality of life much better. Dah.

  12. Hilarious cacca, it seems that each time you are caught out you give an account of your financial situation and property deal costs, on the defensive again. Who cares about your personal business interests? Boring Boring! I said to you ‘you appear to know little about UK property’ based on your ridiculous questions and assumptions, I did say as you put it that ‘Don’t tell me about not knowing about property’,(Mr Angry there) again you embellish your statements and make wild assumptions as to others’ personal affairs.

    I ask you one simple question to your advice on here for others and your local Spanish knowledge ‘Is it sound and trustworthy for Brits looking to purchase or move to Spain’?

  13. Caccia, why do you resort to name calling of other posters, it shows immaturity, and why do you throw in a comment about snow coming to the UK above to Mike, it’s got nothing to do with the subject, you are getting too wound-up?

  14. Paul,

    First of all i am replying to people that direct mail to me personally such as i am replying to you.

    Secondly. i have never mentioned anything about snow to anyone.

    I think you should read the mail more carefully.

  15. Mike,

    There you go again Mr Mike. Did you actually read and understand my 2nd paragraph.

    Are you asking for advice to be given to people wishing to move to Spain. You moved here, perhaps you should give the reasons as to why and as to the reason you returned to the U.K. Not everyone returns to the U.K therefore your question should be directed to people that live here happily and the reason as to why they would not return to the U.K not to give reasons which effected you to return to the U.K. Simple really.

    By the way Mike, where have i been caught out. I have given some minor details about you assuming i knew nothing about property in the U.K and if you read my last paragraph carefully it may answer your question as to why i would recommendation it to a financially secured pensioner. By the way have you allowed for the knock on effect on the sale of your property over here. (think you mentioned somewhere that you had property here). Read and understand carefully when you send a mail as i really don’t like repeating myself.

  16. Angie,

    I think you are mistaken when you say i have opposite views, to others, i think it’s called democracy. Are you saying they can have a view and i cannot. As for dropouts the term does not only mean a person that is destitute but a person that had also dropped out of the system and for a person to return to the U.K has in fact dropped out of the Spanish system.

    Invariably those that do (dropout) rely on state assistance, not everyone, but a lot and the U.K government are gradually trying to put this right especially with the possible influx of new immigrants arriving and naturally i class that as a form of sponging on tax payers money, which ever way you wish to call it it’s my view and others may disagree but it comes under the umbrella of democracy.

    I know of a few that have returned to U.K and rely on state assistance and no doubt you have also and how many time have you read or heard on the news about the abuse of the state assistance. I’m not classing everyone that receives state assistance that they don’t need help, but other i class as spongers. Hope that clarifies my interpretation of a sponger

  17. Cacca, have you the wrong Mike when you reference me ‘having property here (Spain)’? Saying you haven’t mentioned snow as Paul asked you, well either you are lying or you have a short memory, remember you state ‘i have never mentioned snow to anyone’ so how come you posted to me on Nov 14th about 4 inches of snow coming?

    Regarding your trustworthiness regarding advice to pensioners or those thinking of moving to Spain, on Nov 15th you posted a long comment about your property and it’s costs yada yada yada but then say ‘it’s not for sale’ and then add ‘unless some stupid Brit makes an offer i can’t refuse’ so quite happy to rip-off a fellow countryman/woman/pensioner just as the crooked agents did in the boom? So you wouldn’t point out that it was overpriced.

    You admit to being sarcastic too, you labelled several on here as not being able to sponge in Spain so returned to sponge in the UK, altogether not a very nice individual are you?

    Think before you speak or post, you don’t have to go into lengthy realms of justifying your costs,your interpretation of dropouts, your knowledge of spongers, immigrants, I suspect you have very little information or knowledge of any use to anyone but yourself!!!

  18. @caccia, I’ve read many of your posts before I posted and you really do not like people telling the truth about pitfalls in Spain which is not democracy as you say, it’s as if you have a vested interest. You appear an angry person.

    BTW are you Italian?

    Have you bought a Mexican property?

    lol

  19. Calling me vile Reap is funny. after some of your rants.. wasn’t one about too many certain drunken foreigners in the uk and wanting to vote for UKIP. My only spat has been against the famous annoying Fred who has constantly put down anything positive anyone has ever said on this website about Spain. How helpful and forward thinking is that. From an EX-TEACHER! TONTO!

  20. This is my first post, and will be my last too, but I felt compelled to comment on this debate. When fred said that Caccia was a self-centred horrible piece of work I must say that I was at first taken aback, but after reading all of Caccia’s posts again, boy was he right!! Caccia exudes everything that I want my family to be the opposite of. She is an arrogant, self-serving narcissist who surely must have invented the phrase “I’m Allright Jack”. Even when other people post their experiencess, and totally contradict her in the process, she just ignores it and continues on her personal tirade. I’m glad she has lost the argument on this thread, give ’em enough rope and they always do.

  21. Angie,

    What pitfalls are you talking about, Brits not able to find employment in Spain.
    Well back in good old blighty approximately 2.5 million cannot find employment. Property dropping with no sales. Well in the U.K thousands have lost homes through repossessions, which i might add is still going on. I can appreciate the difficulties that people are suffering, not only in Spain but Europe and most parts of the world, but to say that Spain is a bad place to live due to certain “pitfalls” must be the understatement of the year.

    Thousands of expats still live in Spain, not only Brits but other nationalities and are quite happy and content living in Spain otherwise they would have returned to the country they left. I was merely pointing out the fact, which most people seem to miss or forget, is that i find a pensioner’s that are financially secure has a better quality of life in Spain. But people tend to overlook this by pointing out their own “pitfalls”.

    Some people don’t like hearing truthful facts. And i was giving my view the same as others giving their view and replied to certain question’s truthful.

    By the way Angie, i’m not Italian but British, and served in the British army.

  22. Rob, Malaga,

    I think you will find my answer in the mail to Angie above. I see you are still living here which must mean something and by the sound of it not a pensioner, i could be wrong merely by the fact of you saying “Caccia exudes everything that I want my family to be the opposite of” indicating that they are not of an age and not of their own mind yet..

    What made you think Caccia was a woman. Strange really.

  23. Mike,

    I think if you look back on my mail Nov 16th 3.51pm, i said:-(think you mentioned somewhere that you had property here). the wording meaning un-conclusive.

    As for the snow i admit that i made the error regarding the snow but it was so trivial that it did not warrant remembering but information put forwarded. In fact i made contact with a friend back in the U.K asking if he had snow, yet which he had not but plenty of rain. Even the weather forecast can get things wrong and i can forget certain things, but at least i own up to the fact where others can’t.

    Also i would like you and others to view two comment made by Mr Abusing on May 18th very interesting and someone who feels living is Spain does have it’s merits.

  24. TO ALL PROPERTY OWNERS.

    There maybe some hope on the horizon that if the mansion tax is introduced property may move again in Spain, slowly, but move due to extra demands. Just a thought.

    We have already seen a demand for higher priced properties but as i said it may increase a slow but steady influx of pensioners.

    Don’t wish to go into detail, just sit back and think as to why. Period

  25. Mr Roger Stevens, I did not call you vile, another teacher who cannot read! We are glad you are over there in this case. Yaya, houses are going up here and they are a lot easier to sell than Spain. All houses in my Road have a sale agreed within 4 weeks and new people in them within 3 months. There have been about 5 in total this year. The problem for estate agents if there are not enough properties for sale. You are so out of touch with your comments that I am wondering if you moved to Spain when you were a child. Unemployment is 7.6% in UK, dropped by 48k last month, in Spain 26% or thereabouts I think you are just trying to wind everyone up with your nonsense and because you are so misleading with your comments they are not really worth reading. You have no credibility at all. I am wondering if you are about 95 and lost your marbles so I am going to give you some leeway but it is becoming a waste of time to read your comments and Roger Stevens is not far behind you as he tells lies, glad he is not teaching here.

  26. This is my first and last post on this subject based upon the trading of insults being posted.
    As someone who is close to retirement and out of work I find my prospects bleak in the UK.

    I have worked in electronics all my life (in senior positions) and have tried over the past year to obtain work anywhere in the UK without success. My JSA (6 months only) has finished and I am not entitled to any further benefits despite working for 45 years as I am a homeowner. Jointly (because my wife who works on a temporary contract) we are entitled to £7.26 per week, however this jeopardises my wife’s shift patterns and actual job as we both have to ‘sign-on’.

    Spain therefore seems a very attractive proposition whereby I can release the capital on my house (rather than being repossessed with only one year’s mortgage remaining) after my insurance has elapsed. Couple this with having utilities and council tax in the UK totalling half of my state pension (assuming I get there without the current stress) the essentials of just living in Spain seem a whole lot better.

    I can purchase a decent property in Spain with a pool and live cheaply as the cost of living is so much cheaper.

    Yes I have sold my house STC and will go to Spain and find my dream home even if I only rent in the foreseeable future.

    So my advice to those in a similar position to myself, go and see for yourself, make your own minds up and do what is best for you and your loved-ones.

  27. Caccia I asked if you are Italian because Caccia is Italian, so if you are British, do you have a normal British name, it seems strange to post under the name Caccia? To quote a famous Robert de Niro saying ‘come out, come out wherever you are’ don’t be shy man.

    I asked if you bought in Mexico since you say you paid Pesos for your property, not the currency of Spain? lol

    You do seem to enjoy antagonising people on here though, calm down dear! lol

  28. Peter,

    It’s so refreshing to hear from someone about the wonderful life one has living in the U.K. The problem also is that when one reaches one of the top rungs of the ladder positions become even less available. I know from personal experience this can happen and my son dropped his Ph.d from his C.V and still found difficulty in getting a position. He has held top positions in the industry and reported directly to the either the President or the C.E.O. but at the top, positions become very scarce.

    Don’t listen to all the pitfalls etc that are posted on this site. Spain is a wonderful place to settle in providing you go about things in the right manner.

    I would however suggest you rent until you find your feet. Cost of renting has dropped considerably and one can usually find a nice flat to rent in a community with pool if that’s what you are looking for. I have seen various prices of rents of properties ranging for a nice 2 bed modern flat all in for €450 to €750 depending again of the location. But as renting it gives you the opportunity to move about. If you do decide eventually to purchase, depending on your finance, community charges on a flat can also work out expensive depending of the location and naturally a villa is more expensive thus eating up your capital.

    No doubt you will make friends and sometimes their advice can help in choosing the right professional to seek advice from.

    Not all lawyers are crooks and i think all your past concerns of living in the U.K will be vindicated in Spain. But as a person not yet of a pensionable age free NH would not be available. One can take out private insurance and change once you become a pensioner.

    There is so much Spain can offer from the drab life that the U.K offers and if you’re not strapped too much for cash better still. At this very moment the Tep:- in Malaga is reading 16 and we found the air pretty fresh as we sat with friends on the restaurant patio having a Sunday roast in the sun.

    All you can do is give is give it a go, if you leave your cash in the U.K it will need to be declared together with other assets over €50K. If you bring a car you will need to change the plates. You will need to get an N.I.E (from the local police) and a patron (from the local council) both easily acquired, and a car is a must over here.

    Seek good sound advice and you will not have these various pitfalls that various Brits are complaining about which appears to be mainly directed to job seeking and stuck with unsold properties.

    Perhaps join the British Legion, members may be of great help. Also check out two posts of Mr. Abusing on may 18. another Brit unhappy with the life in the U.K.

    Best of luck Peter and a good move.

  29. Angie,

    Hi, sorry if the name caccia confused you somewhat and i didn’t know it was Italian, thanks for telling me. It was my nickname as a kid in the day’s when we kids all ran about in the streets in short trousers and holes in our socks during WW2. We kids all had various nicknames and it somehow stuck to me ever since and still called by friends (those still alive) when i visit the U.K.

    Peso, again sorry, my mind was elsewhere when i printed that word as one of my sons has property in Mexico and seem to have peso on my mind, (perhaps it’s a calling card), and should have printed PESETA.

    I think you may be slightly confused about De’Niro. I am a great fan of De’Niro and have all his DVD’s and nowhere have i heard him say that line (could be wrong and if so could you please direct me to the film etc). That was in fact a song that came from the film “Wizard of OZ” and also sung by Frank Sinatra who i also admire greatly.

    The most famous line, which is still used today and attributed to De’Niro is from the film “Taxi Driver” ie:- “Are you looking at me” (twice) as he stared at himself in a mirror. Can’t do the acting part as there is no Skype on this program plus i’m sitting here in my pants which is not a very pleasant sight.

    I don’t enjoy antagonizing people and the motto of Leapy lee is “People think it, i say it” or words to that effect.

    Hope that answers some of your questions.

    And as old Fred would say…lol

  30. @ Peter if it’s your dream to try Spain then go for it but the best advice would be to rent for 11 months or so as the market is still falling and your bargain may well get cheaper.

    If and when you do buy, remember over 2 million properties for sale in Spain and prices will not rise for years until they clear the glut if at all. Remember the huge completion costs of 11-12% plus hefty selling costs should you need to re-sell one day. By now you should be well aware of illegal builds, plus dodgy agents and developers, find an honest lawyer.

    Remember dodgy agents/developers will be the ones who tell you what you want to hear, they make large commissions with each sale, it’s all very believable over lunch in the sun with the agent and a few glasses of wine. You will be seduced by it, so find a good one.

    Do not be misled by people who view you as ‘some stupid Brit who makes an offer the seller cannot refuse’. Be careful if on a golf course, several (eg PW) around Alicante have shut the clubhouse and course because they’ve gone bankrupt, no-one to buy the courses because there are so many competing for the same custom, and values have nosedived leaving homeowners stuck.

    And back to Cacca and his last para to you, most Brits go through the stage of trying life in the sun, but 1000’s are desperate to return too having tried it, but 1000’s cannot return because they cannot recoup their outlay.

    If you rent and there are enormous numbers of cheap rentals from unsold properties, you can still get 2-3% on your money without the risk until you are quite sure, that way you are in control.

    Google search everyone and everything first and keep checking, things change!

  31. Peter,

    It’s a pity Mike did also add “but 1000’s remain”

    Would also suggest one of the first things to get is a book called “You & the law in spain” by David Searle. Can be got or ordered in most English book shops. Very informative and easy to read and covers a wide range of various laws and also interesting to read. It is updated periodically. Just an extra thought,

  32. Peter, I would not say don’t do it as many live in Spain for financial reasons, maybe this is a higher priority for most than the sun, but it sounds like you are being forced to move to Spain rather than it being a long held dream, doesn’t sound like you are happy about it. Other options: Maybe downsize in the UK if you have that opportunity or buy a smaller place in the UK, rent it out and then rent in Spain, this would give you more flexibility and the option to return one day. The other thing is doing what is best for your loved ones, I am asking myself if I would happy to just see my kids a few times a year and no doubt in their early years they would not have spare bedrooms to stay in. What about Northern France, easy to get back to the UK, no expensive flights, you can grow food easily as there is no shortage of water, buy a place with plenty of trees, get a log burner.. I know people who had a place in Spain, get fed up with the airports, planes etc and purchased in Northern France, drive back and forth as and when they want at low cost, lots of land, seem quite happy.

  33. Caccia again you get your facts wrong saying I may be slightly confused about Robert de Niro, that saying was a famous quote by him in Cape Fear 1991 yet above you asked Mike to ‘read and understand before sending a post’, you had to apologise because you forgot your ‘snow’ post etc etc Happens quite a lot.

    Regarding your post that someone conveniently forgot to add ‘1000’s stay in Spain’ that’s often because they’ve got no option because the market is so bad.

    Anyway Caccia back to De Niro ‘come out come out wherever you are’ could you, would you, tell us who you really are?

  34. Hi Stuart,

    Before you asked such a stupid question i would have thought to researched first, perhaps on google. Simple really, but to give you something else to ponder on and rack your brains, i never did say i owned property in Mexico, by son has. He lives in America, has dual citizenship, British and American and his wife is Mexican. Hehehe

  35. Hi Angie,

    I did ask if you could direct me to the film that De’Nero said that line, and you have, appreciated. Would you like me to quote a line from any of his other films and ask if you could remember, I think not. But the line he is most famous for is the one i quoted.
    Your quote. “Regarding your post that someone conveniently forgot to add ’1000?s stay in Spain’ that’s often because they’ve got no option because the market is so bad”.

    I think that has been well covered by many other, But i was merely pointing out that 1000’s do stay because they wish to and do not have the problems you and other have quoted.

    As for my name you seem to have an obsession, if it was say Fred, Mike, Stuart and other names on these site, which one would you be responding to.. Is your name really Angie, i don’t know, That’s the name you are using but if there were three or four Angie’s who would i be responding to without reading the text of all those Angie’s. The next Angie that may write would now start by saying Angie.1 or 2, 3 and so on. Get my drift.

  36. Hi Angie,

    You’re confusing me slightly. Re:- De’Nero. Are you saying that was a famous line in in the film “Cape Fear” or did you mean to say “in fact that was a famous line in the film”, which i might add has not been repeated by other actors to my knowledge, but the other line in “Taxi Driver” has been. What makes you think i had seen the film “Cape Fear”, i have seen the original but not the De’Nero film. I have lots of films, some of De’Nero which i have not seen and i suppose if one wishes to extend that further me saying:-

    “nowhere have i heard him say that line (could be wrong and if so could you please direct me to the film etc)”.

    I shall now watch that film, if i find time, and in which case i would not have said the above.

  37. Stuart,

    There are many countries that do not allow foreigners to own property but the simplest way around this is to form a company to which you own all assets.

    Hope my previous reply answered your question and this one also.

    I shall return the favour in asking you “want to answer that Stuart” ie:- on both.

  38. Who would want to own a home in that gun ridden hell hole anyway. I believe this Country is if not top of the kidnap league in the world it has to be within the top 5 and I have not googled that as I do not have the time. I know you can get some fortified places and your son will be in a compound with armed guards and electric fences but why bother with all that. I have relatives in South America, they live in prison like conditions with electric fences…

  39. OMG Caccia you don’t half try to emphasise a post and then again and so on. I’ve asked you twice about your name, not an obsession, since I’m Italian and you’re not is why I asked and wonder why you appear to ‘hide’ behind that name. As for others. You don’t need to quote De Niro’s lines since I know them, this line though suits the above question about your posting name, Caccia. Don’t watch the film on your own, you will be afraid, he he he!

    The other posters you mention have normal names so I’m pretty sure there’s no need for me to ask them who they are, and, they post real truths as I do as a warning to people considering moving to Spain, there’s sooooooooooo many sharks in Spain!!!!!!lol

  40. Reap,

    I didn’t say my son lives there, what makes you think so, and lets face it there is enough crime going on in the Costa Del Crime, funny how it was renamed.

    Lots of American’s and other’s have properties in Mexico and elsewhere in South America just like the Brits have properties in Spain and elsewhere. Problem is that the Yanks don’t plough all their money into Mexico, some do but under the conditions that i had mentioned. Is that your Brit attitude, wonder if and why you came to either on holiday or lived here, negative thinking.

  41. Angie,

    Hi, once again, what part of Italy do you or your parents come from, Beautiful country but an expensive place to live, especially around the Venice area. Been to Italia a few time myself.

    Thanks for the future warning about “Cape Fear”, is it as frightening as the original, if so no problem, i think i could manage to watch it alone.

    I should imagine that anyone wishing to come to Spain, perhaps to live, has read many reports about the problems in Spain, (property wise.) There are many sites and media that they can check on and has been well discussed by others in these mails.

    As for the sharks you will find them everywhere, even back in the U.K, perhaps not so much in property, but sharks there are and perhaps over here by Brits trying to unload property, who knows. Only an assumption of course, so people please don’t make a song and dance of what i have said it’s just my opinion.

    If one does not agree just say a simple “i don’t agree” without going into verse. and a long essay as to why.

    As for my name, it’s Caccia and i’m happy sticking to that.

  42. You’d be well advised not to use such an absurd name as caccia in my part of Italy, you’d be mocked mercilessly and probably flushed down the nearest toilet! From now on, most posters could view you as something else. Think Mike already does by his posts to you, lol lol

    So, in future you are going to say a simple ‘I don’t agree’ without going into your rambling lengthy essays, that way you won’t antagonise other posters!

  43. Angie,

    No problem, I’ve had my say and will not waste any more of my precious time on this post. Nothing but problems from people not happy in Spain, perhaps you should return to Italia, life might be better for you there, but don’t believe so, worse off than Spain. Unfortunately people do not like hearing the truth and believe i have received as much abuse as people think i have given, but that had been in reply to posts which i had received. Personally i couldn’t care less what people think as i merely replied to facts and not to woes.

    Bye Angie, oh’ by the way due to you asking if i was Italian it made me think. Could have some Roman genes in me as they ruled heathen Britain for about 400 years and they didn’t bring women over with them. Dah.

  44. Reap.

    Actually Reap my son has a nice 4 bed house by the sea and not in a compound and visits his Mexican home most weekends, if he cannot make it due to business his wife and teenage children go down.

    You see in his position, as i was explaining to a guy named STUART, which you may know a little about foreign law, is that a Mexican can OWN property in Mexico and a foreigner can own property through a company and all assets of that company belongs to him.

    You say you have relatives living in South America in prison like conditions with electric fencing etc. We also have those kind of places in the U.K under the protection of HRH and with guards to boot.

    Bye Mr Reap. P.S. Please don’t bother to reply as i don’t wish to waste my time in replying again.

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