Property market analysis

[widge]

The headline is more encouraging than the analysis that follows !

http://www.telegraph.co.uk/finance/pers ... round.html

[joeysoap]

There has been a new run of 'property in the winter sun' on C4 recently.One shown during the week filmed in Spain in November 2013. There was at least 2 filmed in Portugal in late 2013. What I noticed most was the big difference in price of property between Spain and Portugal. IF (big if) the programs are genuine, then there are real 'bargains' to be got in Spain. One show last week had a couple offering (and accepted) a bid for £42,000 for a fairly frontline property in Spain,2 beds, pool, fairly modern and clean, cant recall the resort but it was one of the popular ones.

One of the Portuguese programs (unlike the BBC player, not blocked in Ireland, so assume not blocked in Portugal)



http://www.channel4.com/programmes/a-pl ... od#3640894

[EMM]

Comparing prices in Spain, Portugal or any other country is a vey simplistic approach.
Expats in Spain are finding the new tax regime very demanding with it is reported some leaving because of it.
Portugal is far more tax friendly for expats.

[widge]

Comparing prices in Spain, Portugal or any other country is a vey simplistic approach.
Expats in Spain are finding the new tax regime very demanding with it is reported some leaving because of it.
Portugal is far more tax friendly for expats.

Possibly but this is what the report found………

"The price of property on Portugal’s Algarve is now 32pc cheaper than homes in the UK. Meravista, a listings website with 24,000 properties in the region which produced the analysis, said a positive signal for the market, however, was that homeowners were now selling their homes in line with the valuations of banks, rather than up to 20pc higher as had happened for several years.
"The fact that estate agents and home owners are meeting or undercutting the values set out by the banks demonstrates that the market has reached a significant low."

As far as tax goes my tax bill in portugal more than doubled this year, I wouldn't call that friendly.

[EMM]

Reading a few Spanish forums really open your eyes up to the fact that Portugal is not as bad as some would have you believe.

[widge]

Reading a few Spanish forums really open your eyes up to the fact that Portugal is not as bad as some would have you believe.

Or do you mean just not as bad as Spain ?

[RichardHenshall]

Possibly but this is what the report found………

"The price of property on Portugal’s Algarve is now 32pc cheaper than homes in the UK. Meravista, a listings website with 24,000 properties in the region which produced the analysis, said a positive signal for the market, however, was that homeowners were now selling their homes in line with the valuations of banks, rather than up to 20pc higher as had happened for several years.
"The fact that estate agents and home owners are meeting or undercutting the values set out by the banks demonstrates that the market has reached a significant low."

Does this not say more about the attitude and behaviour of the banks than it does about the attitude and behaviour of the buyers and sellers, who ultimately set the prices in the market?

[cereza]

The headline is more encouraging than the analysis that follows !

http://www.telegraph.co.uk/finance/pers ... round.html

The first line of the report stating that prices in Portugal are 32% lower than in the UK is very misleading since there is such a huge variance of prices across the UK !!!
Unless there is a further increase in demand from Scandanavia or Russia ( which I very much doubt ) I see no reason to expect price rises in the Algarve property market. South east UK prices are leading the way partly due to Government internal promotions and due to the search for school catchment areas. With the prospect of higher UK interest rates in 2015 it is very doubtful that there will be a surge in UK buying interest in the Algarve IMO. Spain is a totally different situation to Portugal with the massive over-supply and the planning and tax problems.
If you have the spare money and want want to buy in Portugal for the enjoyment then fine but if you are looking for a return on your investment then you may have a very long wait.

[EMM]

In the last week I have been sent details of price changes from Banks and developers,
They have increased their prices due to increasing interest and demand.
Does 1 swallow make a spring ???
Who knows.

[e-richard]

Does the term "green shoots" ring any bells?

[laserblazer]

Does the term "green shoots" ring any bells?

No. Who does he play for?

[cereza]

In the last week I have been sent details of price changes from Banks and developers,
They have increased their prices due to increasing interest and demand.
Does 1 swallow make a spring ???
Who knows.

If the interest is true then that's a great sales policy !!

[EMM]

One of the developements is in Carvoeiro and the properties have been increased by up to E10,000.

[sunman]

One of the developements is in Carvoeiro and the properties have been increased by up to E10,000.

perhaps that's a bit like the pricing strategy at Tesco Wines, when you bid them €10,000 less than the asking and they begrudgingly accept you think you've got a good deal

[tricky]

Why don't we try to be optimistic? No that would never do!