Property values in Torrevieja

[PASSAGE]

Is there any sign of an improvement in property prices in the Torrevieja area.I have my property over 3.5 years and prices have been stagnent since.

[squeals]

I would say, no prices haven't really gone up. Some people ask a high price for their properties, but whether they actually sell them and at what price you do not know. It will probably depend on what and where your property is. The problem is the a lot of the Irish sold up in fear of their taxman and then the Germans sold up as they were getting taxed on their foreign properties, then to compound it they have built far too many properties in the area. Some prices I have seen lately are really low as some people are getting desperate to sell. The added problem with off plan properties is that some of them were really expensive and then when people want to sell, thinking they could make a quick buck (agents telling you the property market is rising at 30% pa), they will be lucky to get their original purchase price back, and will probably have to kiss bye bye to their 10% costs. However if you bought quite cheaply and have an apartment in a desirable area, it may have gone up in value! An example I have seen, a north facing, but slightly larger gardened property up for sale at 220000 Euro (well over priced), and remains unsold after 6 mths. An East facing property on same development, smaller garden, sold within a week at 149000 Euro. So the dearer one, probably better furnished etc, with a cold North aspect, is not worth 70000 Euro more.

[JustRetired]

[squeals]

Just retired, I really couldn't say, I am not aware what prices property actually sell for. I only look in the papers and look at property websites and compare what prices are being asked. What I would say is, for 169000 Euro I know of a 3/4 bed sth facing quad, a 2 bed quad for 145000 Euro, plus other such properties on websites. I would rather spend my money on those, than an apartment for about the same cost. However there is a buyer for every property out there, and what one person thinks is too much, another maybe prepared to pay. There are some very expensive apartments for sale out there, but I personnally would not pay that much for an apartment. If you want to sell why don't you put it up for sale. If it doesn't sell, it doesn't sell! You could advertise in one of the papers or direct on one of the direct websites or with an agent, they don't all add on 20000 Euro! By the way is it at Parque Del Duquet? Or however it is spelt? As they seem to be up for sale for about 149000 - 163000, however again, they have not sold at those prices. I do not know any other apartments around the market area, but i expect there are loads! I would like to sell our place but to be honest I am not sure it will sell, and you like us all are loathed to sell for less than you have paid!

[JustRetired]

No, its only about 100 metres from the market, the road running parallel to market, turn first right after going through junction at Celtic Isle. Playa Flamenca V or IX depending if its the mail or community.

Regards

John

[squeals]

All I can suggest is that you ask someone like FPG (Ford Property Group), one of the local agents who don't add on loads of commision. They would tell you what it is probably worth.