Is now a good time to buy property in Alicante, Spain?

Question

Am thinking of buying later this year but don't really know the market. Will be going out this year to have a look but will probably be told everything the agents want me to hear. Any advice from impartial sources?

Answer 1

id steer clear for a while, construction here has peaked, lots of empty properties around unsold (average sale taking up to 15 months) markets perhaps a little more buoyant on the costas.

but ultimately, people in Spain are up to their necks in debt, interest rates are going up, the Spanish economy in general has been on a high mainly due to people cashing in on land etc (alot of the land which was already in the family) but once that land is sold,  its gone, the moneys been made & thats it

1st time buyers here cant even afford to buy, those that do usually get help from parents who have inherited land or cash from tht land!

All the property speculators are in places like bulgaria now, even as a buy to let isnt worth it

im not saying its all gonna crash dive, but i think they will drop some 30%,  id be very careful

Answer 2

my advice would be buy in the mountains - you get more for your money...

Answer 3

Yes, don't leave it too long, I live near Alicante at Busot a village in the mountains, you get more value for money if you buy inland, we are only about 6 miles from Campello a lovely resort on the coast. Be careful when and where you look as many developers are not all they seem, and build houses without proper permission and they houses may be knocked down and the people who own them cannot do anything abut it. Also do be prepared for the extras you have to pay like security grills which are a must, aircondioning,and driveways and swimming pools, altogether costing alot more than you bargain for. Also the estate agents in Spain are all after a sale and may not show you what you really want to see, so be prepared.Tell them what you want and don't take no for an answer. Good Luck. It is a move worth making.

Answer 4

Ive just got back from Spain&I got chatting to a couple in the pub who were also looking & they were telling me how much the prices have shot up & are going to start looking else were now! Sorry!

Answer 5

Don't know about times to buy but I can certainly recomend where.

I know people who live in a wee village called Pinoso, about 30-40 mins in land from Alicante and it is beautiful.  There are loads of other wee villages round about and they are so unspoilt at the moment.

Anything round about here would be lovely, such a relaxing place.

Answer 6

I have lived in that area for 15 years and know the market well. It depends whether you want resale or new, but I would say buy the sooner the better and start enjoying it. Resale prices were very high but have now stabled out due to so many people trying to get ridiculous money for the sale of their house, and they are slowly, slowly getting the idea that as they can't sell they are now agreeing to more realistic prices. Therefore it's a buyers market and you don't have to go with a big agent from the UK who will definately only show you what they want to sell you, (mainly new) I am self employed in the property business and don't have huge overheads like they do therefore if you need any IMPARTIAL advice I would be willing to show you around with NO obligation, I have never sold anything to anyone that they didn't want or love, and that is 100% legal aswell. I can give you client recommendations if you wish. But of course you don't have to go with me. But please be careful there are 1000's of ripoff merchants here (Brits and Spanish alike), but after all is said and done I would encourage you to buy here I would never go back to the UK. If you need any further help feel free to email me direct. Good hunting.

Answer 7

No it's at an artificial high due to 'property developers from UK' wait until next year when the property market collapses in the UK  they will be in a panic and will be unloading as fast as possible. Then there will be bargains!!!!!!!!!!!!!

Answer 8

Hi I think Spain and the costa Blanca in particula is a very good investment. I have a property in Villamartin 5 mins to golf courses walking  and 5 mins to beaches by car. It has the best all year round sunshine and is still only 2 hours flight away.

I used a company called New Shores International Real Estate

I found them to be very good and straight talking no bull!

Their website is www.newshores.co.uk

I rent my place out and get about 25 weeks booked which more than pays for the outgoings and some leftover which will be going towards another again the same as you later on in the year.

Good luck

Answer 9

No. ten years ago was.

Answer 10

Go out to the area you are interested in and troll the agents.

there is a glut of property for sale in Spain so try a few "silly" offers.You may strike lucky as there are a lot of people wanting to sell for various reasons.the villa next door to us has been up for sale for 3 years!the vendors are sticking out for their price but the villa has never been lived in and is in need of a lot of work to make it reasonably comfortable